What's News: Business & Finance -- WSJ
June 03 2020 - 3:02AM
Dow Jones News
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (June 3, 2020).
IPOs by Warner Music and ZoomInfo are set to reinvigorate the
market for new issues this week as the rebound in stocks encourages
companies forced to the sidelines by the pandemic to revive listing
plans.
The Trump administration is taking the initial step to ready
tariffs against a range of trading partners unless they back off
proposals for taxes that would fall heavily on big U.S. internet
firms.
Facebook's Zuckerberg, addressing employees in a town hall
meeting, defended his decision to preserve a controversial post
from Trump but said he was open to some tweaks in how the firm
deals with such content.
Lyft said demand for rides has risen in recent weeks as people
began venturing out following virus lockdowns but that it remains
well below levels seen a year ago.
Zoom Video raised its full-year outlook for sales after they
more than doubled in its fiscal first quarter amid a surge in
remote working.
U.S. stocks rose, with the Dow, S&P 500 and Nasdaq gaining
1.1%, 0.8% and 0.6%, respectively.
Mall owner CBL said it failed to make an interest payment of
$11.8 million to bondholders on Monday.
China's BYD said it secured a second reprieve on a troubled $1
billion deal to sell N95 masks to California.
Investment firms Bain and Cyrus were selected as top contenders
to acquire the assets of Virgin Australia.
(END) Dow Jones Newswires
June 03, 2020 02:47 ET (06:47 GMT)
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