Lyft Says Traffic Is Picking Up

The company said demand for rides climbed in recent weeks as people began venturing out following Covid-19 lockdowns but remains well below levels seen a year earlier.

 
Tesco CFO to Step Down in April 2021

Alan Stewart took over the U.K. grocer's finances in 2014 and is credited with rebuilding its balance sheet and resolving an accounting scandal.

 
Tech Group Files Lawsuit Against President's Social-Media Executive Order

A group that promotes online rights filed a lawsuit challenging President Trump's executive order targeting social-media companies, contending it violates First Amendment rights of the firms and their users.

 
Facebook's Zuckerberg Defends Decision to Leave Trump Posts Alone

Facebook CEO Mark Zuckerberg, addressing employees Tuesday, defended his decision to preserve posts on the platform by President Trump despite mounting outrage from insiders and civil-rights activists that one of his messages last week was tantamount to a call for violence.

 
Neiman Marcus Denies Breaching Terms of Deutsche Bank Loan

The department-store chain denied violating the terms of a loan from top-ranking lender Deutsche Bank, saying it has $100 million more cash on hand than projected because sales have been better than expected.

 
Zoom Lifts Full-Year Sales Outlook as Coronavirus Boosts Demand

The company's sales more than doubled in the first-quarter, as a surge in users working remotely during the coronavirus pandemic turned the video-chat app into one of the go-to tools for people quarantined at home.

 
Rental-Apartment Operator Greystar Bulks Up

Greystar Real Estate Partners said it is acquiring a business that manages nearly 130,000 housing units, a deal that extends Greystar's position as the country's largest operator of rental apartments.

 
Mall Owner CBL Misses Debt Payment, Seeks Renegotiation

Mall owner CBL & Associates Properties said it failed to make an interest payment of $11.8 million to bondholders on Monday, becoming the first major retail landlord during the coronavirus pandemic to take this step toward a bond default.

 
Gold's Gym to Check for Higher Bids at Auction

The chain is putting its gyms on the bankruptcy auction block, with bids starting at about $80 million.

 
China's BYD Gets Extension on $1 Billion California Mask Deal

BYD, a Chinese electric-car maker turned mask producer, said it had secured a second reprieve on a troubled $1 billion deal to sell N95 masks to the state of California after missing a Sunday deadline

(END) Dow Jones Newswires

June 02, 2020 21:15 ET (01:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.