News Highlights: Top Company News of the Day
June 02 2020 - 3:30AM
Dow Jones News
Facebook Employees Stage Virtual Walkout Over Handling of Trump Posts
The action marks opposition to Mark Zuckerberg's decision to
allow a post from President Trump about the recent social unrest
that they believed violated the company's rules about inciting
violence.
Music Labels Suspend Work in Support of Demonstrations
Musicians and entertainment executives are encouraging workers
to take Tuesday as a chance to reflect on racism in the country, in
some cases even if that means taking off work.
CEOs and Big Businesses Speak Out on Racism, Police Violence
Business leaders are speaking out about social injustice and
racial inequality in the wake of George Floyd's death at the hands
of police and the protests in more than 100 U.S. cities the fatal
event has sparked.
Stitch Fix to Lay off About 1,400 Employees in California
Stitch Fix, a personal-shopping service and clothing retailer,
notified its roughly 1,400 California-based stylists Monday, or
about 18% of its total staff, that they will be losing their
jobs.
Starbucks Reduces Worker Hours to Reflect Pared-Back Operations
The coffee chain is reducing labor as coronavirus limits hours
and services.
Bain Capital, Cyrus Capital Are Preferred Bidders for Virgin Australia
Investment firms Bain Capital and Cyrus Capital Partners have
emerged as the preferred bidders for the assets of Virgin Australia
Holdings Ltd., Australia's second-biggest airline which had filed
for insolvency.
ANZ Sells NZ Asset Finance Business to Shinsei Bank
Australia and New Zealand Banking Group Ltd. has agreed to sell
its New Zealand asset finance business, UDC Finance, to Shinsei
Bank Ltd., as the Australian bank continues with plans to
streamline its operations.
Gun Stocks Surge Past Broader Market
Shares of gun manufacturers soared Monday, continuing this
year's winning streak.
Don't Expect Pfizer's Bad Reaction to Last
A surprise cancer-drug failure will sting, but not as much as
investors expect.
Buffett-Backed Italian Insurer Is Told to Boost Capital
Cattolica, a Berkshire Hathaway-backed Italian insurance
company, was told by the local regulator to boost its capital, a
sign authorities are prepared to press the industry to protect
itself from the impact of the coronavirus.
(END) Dow Jones Newswires
June 02, 2020 03:15 ET (07:15 GMT)
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