Twitter's Biggest Strength Is Also its Core Weakness

An attack by hackers highlights some troubling issues about the social-media platform, beyond mere technical vulnerabilities.

 
Vox Media Lays Off 6% of Workforce

The publisher of New York magazine, the Verge and SB Nation said the action affecting about 70 people reflects the economic fallout from the coronavirus pandemic.

 
How Germany's SEC Dismissed a Decade of Warnings About Wirecard

Germany's top financial supervisor received detailed warnings about deceptive financial practices at Wirecard starting in 2008 but repeatedly failed to investigate the allegations, turning instead against the accusers.

 
Ernst & Young Says It Isn't Responsible for Luckin Coffee's Accounting Misconduct

The auditor to Luckin Coffee said it bears no responsibility for the Chinese coffee chain's 2019 financial statements and what it called the company's fraudulent misconduct.

 
Abbott Laboratories Gets Boost From U.S. Covid-19 Testing

The medical company recorded a surge in revenue in its U.S. diagnostics business during April, May and June.

 
American Targets New York Expansion With JetBlue Pact

American Airlines Group and JetBlue Airways announced an alliance that the carriers said would speed their recovery from the pandemic-driven travel downturn by boosting their position in large Northeast markets.

 
Domino's Says Pandemic Sparks Stronger Demand in U.S.

Domino's Pizza posted robust U.S. sales during its latest quarter, as consumers turned to the pizza-delivery company while many other restaurant chains struggled with coronavirus-related limits on their dining rooms.

 
Trading Powers Morgan Stanley to 45% Profit Jump

The bank reported record quarterly profit and revenue during a period when the coronavirus ripped through the U.S. economy and financial markets.

 
Bank of America Profit Falls 52% as It Prepares for Coronavirus Defaults

The large lender's profit tumbled in the second quarter after the bank set aside billions of dollars to prepare for soured loans.

 
Johnson & Johnson Readies to Start Covid-19 Vaccine Studies

Johnson & Johnson's revenue declined in the latest quarter as the coronavirus pandemic weighed on sales of beauty products and medical devices. But the company raised its financial guidance for the rest of the year.

(END) Dow Jones Newswires

July 16, 2020 13:15 ET (17:15 GMT)

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