News Highlights: Top Company News of the Day
July 03 2020 - 3:30AM
Dow Jones News
Arthritis Drug Fails in Study of Covid-19 Patients
Regeneron Pharmaceuticals and Sanofi said their arthritis drug
Kevzara failed to help Covid-19 patients recover in a U.S. clinical
trial.
Tech Tycoon Peter Thiel Shies From Trump Re-Election Campaign
The president's most prominent Silicon Valley supporter has told
friends and associates that he plans to sit out this year's
presidential campaign because he thinks re-election is increasingly
a long shot, people familiar with the matter say.
Luckin Coffee's Chairman Survives Board Vote for His Removal
Chinese coffee chain Luckin Coffee Inc.'s co-founder Charles Lu
will remain chairman-at least for now-after the board failed to get
the necessary votes to oust him, the company said Thursday.
Hydroxychloroquine Given Early Helped Coronavirus Patients, Study Finds
An antimalarial drug helped reduce deaths in hospitalized
patients infected with Covid-19, according to a large retrospective
study.
Facebook Boycott Organizers Want a Civil Rights Expert in the Company's Executive Suite
Leaders of civil rights groups are meeting with Facebook
executives after calling for an ad boycott of the platform for the
month of July. Facebook, which has been under growing pressure to
change and update some of its content and brand-safety policies,
this week requested a new meeting with civil rights leaders.
Apparel Brands Push More-Stylish Dressing at Home
Banana Republic, Ann Taylor and other business-casual retailers
are trying to figure out how to convince home-bound Americans to do
better than T-shirts, leggings and gym shorts.
Uber Under Pressure to Beef Up Food Delivery
Looking to get stronger in food delivery, the ride-hailing giant
is eyeing Postmates as the pandemic has crushed Uber's rides
business and surging infections have dimmed early hopes for speedy
economic reopenings.
Intel Capital to Invest in Reliance's Jio Platforms
Intel Capital plans to invest $253.5 million in Jio Platforms,
becoming the latest foreign firm to seek a piece of the Indian
telecommunications giant.
Coronavirus Surge Tests Safeguards for Meatpacking Workers
New infections grow in major meat-producing states as the
industry has returned to regular production levels in recent
weeks.
Tailored Brands Skips Bond Payment, Starting 30-Day Clock
The operator of Men's Wearhouse and Jos. A. Bank stores has
skipped a payment to bondholders, but the struggling retailer
elected to make scheduled interest payments to lenders due the same
day.
(END) Dow Jones Newswires
July 03, 2020 03:15 ET (07:15 GMT)
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