Lufthansa Losses Surge 

Lufthansa reported a first quarter net loss of more than EUR2 billion due to the coronavirus pandemic and said a "far-reaching restructuring" was necessary to counter the near-collapse in global air travel.

AXA Slashes Dividend 

AXA will halve its dividend for 2019 and said it expects the coronavirus pandemic to deal a roughly EUR1.5 billion blow to its earnings for this year.

TUI, Boeing Agree Deal on Grounding Impact 

TUI has agreed a compensation package and a new delivery deal with Boeing for its 737 MAX aircraft that will significantly reduced capital and financing requirements for the travel company.

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.

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.

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.

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

Francisco Partners Raises Nearly $10 Billion for Tech Deals 

Francisco Partners has raised nearly $10 billion across three funds to invest in technology companies, one of the largest pools of capital collected by a U.S. private-equity firm this year.

Facebook, PayPal to Invest in Indonesian Ride-Hailing App Gojek 

Facebook and PayPal Holdings said on Wednesday they will invest in Indonesia's Gojek as part of the ride-hailing and food-delivery firm's latest financing round.


(END) Dow Jones Newswires

June 03, 2020 03:15 ET (07:15 GMT)

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