These are the headlines you Need 2 Know for Wednesday, March 18, 2020:
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Semafor to Buy Out SBF’s Interest In Company
Semafor plans to buy back Sam Bankman-Fried's $10 million investment in the company.
Volkswagen CEO Talks Record Quarter and Future of EVs
Volkswagen U.S. CEO Pablo Di Si joined Cheddar New to discuss record quarterly electric vehicle sales and his reaction to Tesla trimming prices on some vehicles by 20% last week. “We'll continue with our pricing strategy, we're not cutting prices on the vehicle's quality over quantity and product content,” he said.
Southwest Pilots On Verge Of Union Strike
Southwest Airlines pilots could be on the verge of a strike with a vote planned in May.
Party City Files For Bankruptcy
Party City filed for Chapter 11 bankruptcy as it aims to cut debt.
Feds to Investigate Nursing Home Abuse of Antipsychotics
The federal government says it will begin a targeted crackdown on nursing homes’ abuse of antipsychotic drugs and misdiagnoses of schizophrenia in patients.
Spotify Latest to Push EU to Take Action Against Apple’s Anticompetitive Practices
Spotify became the latest tech company to call on the European Union to take action against Apple over anti-competitive practices.
Mortgage Demand Jumps, Homebuilder Sentiment Rises
Mortgage demand continues to increase as rates dip while homebuilder sentiment is also on the rise.
Amazon Cutting Workforce by 18,000 Employees
Amazon has begun cutting about 18,000 workers this week, affecting largely Amazon stores and some in the technology unit.
Microsoft Laying Off 10,000 Employees
Microsoft is laying off 10,000 employees, becoming the latest tech giant to cut its workforce.
