News Highlights: Top Company News of the Day
Walmart Goes Off Script at Annual Meeting
Executives at Walmart's annual shareholder meeting weighed in on
topics ranging from race relations and the pandemic to out-of-stock
products and the demand for puzzles.
Auto-Parts Supplier APC Files for Bankruptcy
APC Automotive Technologies, a car-parts supplier founded in
1927, has filed for bankruptcy with plans to hand ownership to
lenders including Apollo Global Management.
FedEx Adds New Delivery Fees to Manage Strain From Coronavirus
The delivery giant plans to impose surcharges on merchants with
too many shipments and oversize packages, following a similar move
by rival UPS.
Snap Says It Won't Promote Trump's Snapchat Account
Social-media company Snap said it will no longer promote the
Snapchat account of President Trump on its home page after finding
that his public remarks could incite racial violence, a spokeswoman
Quibi Asks Senior Executives to Take 10% Pay Cut
Quibi has asked senior executives to take a 10% salary cut as
the short-form streaming video service explores ways to rein in
costs after a disappointing debut.
Seadrill Says Another Bankruptcy Is an Option in Debt Talks
The offshore contract driller has hired legal and financial
advisers for talks with senior creditors on restructuring its $7.5
billion debt load that could lead the company to make its second
trip to bankruptcy court in less than three years.
Lyft's Investors Shouldn't Be Flooring It
The ride-hailing company's shares have made up a chunk of their
pandemic losses with much uncertainty remaining.
Warner Music Shares Surge in Market Debut
Shares of the music company climbed sharply after its trading
debut on the Nasdaq Stock Market, a sale that marked the largest
U.S. initial public offering of the year so far.
Chicken Industry Executives Indicted on Price-Fixing Charges
The CEO of one of the country's biggest chicken producers and
three other industry executives were indicted for allegedly
conspiring to fix prices on chickens sold to restaurants and
grocery stores, the Justice Department's first charges in a
continuing criminal antitrust probe.
HSBC Throws Support Behind China on Hong Kong Security Law
A top HSBC executive signed a petition supporting China's move
to impose security legislation on Hong Kong, putting the bank
squarely on the side of Beijing in the fight over the future of the
(END) Dow Jones Newswires
June 03, 2020 17:00 ET (21:00 GMT)
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