News Highlights: Top Company News of the Day
July 01 2020 - 1:15AM
Dow Jones News
Facebook Bans Large Segment of Boogaloo Movement
Facebook has classified a large segment of the boogaloo movement
as a dangerous organization and banned it from its network, in the
tech company's broadest move yet against the group.
FedEx Reports Better-Than-Expected Revenue as Residential Deliveries Surge
FedEx said Christmas-like levels of online shopping boosted its
business, and it is seeing tentative signs that the global economy
is recovering from the coronavirus pandemic.
FCC Designates Huawei and ZTE as National Security Threats
The U.S. Federal Communications Commission said it designated
Huawei Technologies and ZTE as national security threats.
EQT Sets EUR12.5 Billion Goal for Its Fifth Infrastructure Fund
The firm's next infrastructure pool would be its biggest yet and
follows a record year for infrastructure fundraising in 2019.
Airbus Plans to Cut 15,000 Jobs, Citing Impact of Coronavirus
Airbus said it would cut 15,000 jobs across its commercial
aircraft division, the biggest restructuring in the planemaker's
history, citing what it expects to be the Covid-19 pandemic's
yearslong impact on the aviation sector.
Aeroméxico Files for Chapter 11 Bankruptcy Protection
Mexican airline company Grupo Aeroméxico said it has filed for
voluntary restructuring under chapter 11 of the U.S. bankruptcy
code to confront the crisis brought on by the coronavirus
pandemic.
Tribune Publishing in Talks to Give Hedge Fund Alden Global Another Board Seat
Tribune Publishing is in talks to add the co-founder of Alden
Global to its board as part of an agreement that would prevent the
hedge fund from making a hostile bid to buy the rest of the
newspaper company in the near future, according to people familiar
with the matter.
Cirque du Soleil Eyes Mid-August Deadline to Resolve Ownership Spat
Cirque du Soleil Entertainment Group is targeting a mid-August
deadline to select a winning bidder for the business and put to
rest an ownership feud between secured creditors and top
shareholder TPG.
BOC Aviation Cancels Orders for 30 Boeing 737 MAX Jets
Chinese-owned aircraft lessor BOC Aviation Ltd. has canceled
orders for 30 Boeing Co. 737 MAX jets and deferred delivery of
others, potentially adding to the U.S. plane maker's growing
financial strain.
Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices
Royal Dutch Shell is writing down the value of its assets by up
to $22 billion because of lower energy prices following the
demand-sapping coronavirus pandemic.
(END) Dow Jones Newswires
July 01, 2020 01:00 ET (05:00 GMT)
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