PRESS DIGEST- Wall Street Journal – April 3

April 3 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

– American manufacturers say it will be months before they meet demand for high-quality masks, part of a broader breakdown in the effort to supply enough protective gear and lifesaving equipment to fight the coronavirus pandemic.

– Luckin Coffee Inc an upstart rival to Starbucks Corp in China that touted itself as the country’s largest coffee chain by stores, said several employees fabricated much of its reported sales in 2019, the year the company went public on the Nasdaq Stock Market

– Walt Disney Co is furloughing employees across all divisions in its domestic operations, as the world’s largest entertainment company struggles with continued fallout from the spread of the novel coronavirus.

– General Electric Co is furloughing half of the U.S. manufacturing workers in its jet-engine business for four weeks, citing growing pressure on the global aviation industry from the coronavirus pandemic.

– A joint venture formed by property mogul Sam Zell and private-equity firm Colony Capital has backed out of a deal to pump close to $200 million into Approach Resources Inc , the bankrupt West Texas oil-and-gas drilling company, amid a steep drop in oil prices.

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