News Highlights: Top Company News of the Day
June 02 2020 - 7:30AM
Dow Jones News
Bain, Cyrus Picked as Top Bidders for Virgin Australia Assets
Australia's No. 2 airline filed for bankruptcy protection after
the coronavirus halted most air travel and drew interest from more
than 10 parties at one point.
Volkswagen Closes Argo AI Investment
Volkswagen has closed a $2.6 billion investment in Argo AI, in a
move that will facilitate the Pittsburgh-based self-driving
startup's expansion in Europe.
Warner Music, ZoomInfo Poised to Boost IPO Market
The burst of activity comes after months of relative quiet, with
potential issuers scared away by the coronavirus pandemic and
related turmoil. The issues are expected to raise $2.5 billion
combined if the shares price at the midpoints of their target
ranges.
Cybersecurity Startups Feel Pinch on Funding and Sales
Venture capital is still flowing, but deals take longer and
sometimes result in less investment.
Pandemic to Jumpstart Spending on Data Tools at Manufacturers
Being able to monitor production remotely during the pandemic
has made the case for even more data capabilities.
New Computer Chips Could Power AI to Next Level
A generation of computing chips designed specifically for
artificial intelligence could enable a host of new applications for
the technology.
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.
(END) Dow Jones Newswires
June 02, 2020 07:15 ET (11:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.