Catching up: here’s what’s going on.
The electronics and engineering giant Siemens, a harbinger of the German economy, said first-quarter profit fell more than half due to the drop in new orders. Siemens, which manufactures a diverse line of products, including high-speed trains, wind turbines and medical scanners, said sales were down a modest 1% from the first quarter of 2019. But new orders, an indicator of future sales, fell 9. percent largely due to the decline in demand for passenger trains. Profit fell 64%.
J.C. Penney and Sephora, who had argued in court over a potential closure of Sephora’s mini stores in hundreds of J.C. Penney stores, said Thursday it “reaffirmed their long-standing partnership.” J.C. Penney filed a complaint on Monday that highlighted disagreements between companies, which have been partners since 2006, and highlighted the challenges many retailers may face with vendors as they try to resume operations during the pandemic.
Frontier Airlines became the first US carrier to announce its intention to take passenger temperature before boarding, a decision that would take effect on June 1. Anyone with a temperature of 100.4 degrees or more will be denied boarding.
The Walt Disney Company said the 120-acre Disney Springs, one of the largest shopping malls in the United States, will begin a gradual reopening on May 20. The lakeside property in the Orlando, Florida suburb has approximately 170 stores and restaurants. Disney theme parks and hotels will remain closed. Disney said the reopening of Disney Springs would involve masks for employees and guests and capacity limitations.
The reports and research were provided by Nelson D. Schwartz, Ben Casselman, Jack Ewing, Niraj Chokshi, Sapna Maheshwari, Keith Bradsher, Liu Yi, Mohammed Hadi, Brooks Barnes, Liz Alderman, Carlos Tejada, Daniel Victor and Kevin Granville.