News Highlights: Top Company News of the Day
July 09 2020 - 11:30PM
Dow Jones News
Harley-Davidson to Cut 13% of Global Workforce
The motorcycle maker's restructuring plan, including about 700
job cuts, will result in costs of about $42 million in the second
quarter.
PC Sales Surge, Boosted by Homebound Workers
Personal-computer sales rebounded in the June quarter, driven by
higher demand from workers and students forced to study and work
remotely amid the coronavirus pandemic.
Two Suitors Compete to Scoop Brooks Brothers Out of Bankruptcy
A battle is brewing for control of Brooks Brothers, with at
least two apparel ventures looking to take over the bankrupt
clothing retailer, according to people familiar with the
matter.
Germany Probes Possible Money Laundering by Wirecard Executives
German prosecutors are looking into possible money laundering by
executives at Wirecard, adding to probes related to potential fraud
and fake accounting at the insolvent payments firm.
Starbucks to Require Customers to Wear Masks
Starbucks will require customers in the U.S. to wear masks at
company-operated stores starting next week, a decision that comes
as new coronavirus cases rise sharply in parts of the country.
Latam Airlines Gets $1.3 Billion in Bankruptcy Financing from Oaktree
Latin America's biggest airline has lined up an additional $1.3
billion in private financing to carry it through bankruptcy as
carriers in the region continue to receive little in the way of
government support.
Prudential Reprices Some Insurance Products as Lower Rates Weigh on Profits
Prudential Financial planned for a pandemic as severe as the
Spanish flu, modeling for a potential crisis that would be more
severe than the initial coronavirus outbreak suggested. This
prepared the company for some of the financial shocks, such as the
difficulty in preserving capital, but not the ultralow interest
rates.
Tyson Turns to Robot Butchers, Spurred by Coronavirus Outbreaks
The pandemic is speeding meatpackers' shift from human meat
cutters to automated ones, but machines can't yet match people's
ability. While meat processing overall has grown safer in recent
years, it remains one of the more hazardous jobs in the U.S.
economy.
TikTok Considers Changes to Distance App From Chinese Roots
ByteDance is considering changing the corporate structure of its
popular short-video app TikTok, as it comes under increasing
scrutiny in its biggest markets over its Chinese ties.
Elon Musk Gloats as Rally Drives Tesla Shares to New Heights
The auto maker's strong performance during the pandemic has sent
its stock soaring, dealing a blow to investors betting against the
Silicon Valley auto maker. And Tesla's chief is having a blast
rubbing their noses in it.
(END) Dow Jones Newswires
July 09, 2020 23:15 ET (03:15 GMT)
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