News Highlights: Top Company News of the Day
Elon Musk Gloats as Rally Drives Tesla Shares to New Heights
Tesla's strong performance during the pandemic has sent its
stock soaring, dealing a painful blow to investors betting against
the Silicon Valley auto maker. And Chief Executive Elon Musk is
having a blast rubbing their noses in it.
Walgreens to Cut 4,000 Jobs in U.K. Boots Stores, Suspend Buybacks
The pharmacy chain said the coronavirus pandemic sliced out
around $700 million to $750 million in sales for its latest
quarter, with most of the impact tied to its retail-pharmacy
Meatpackers Slammed by Covid Get Serious About Automation
The pandemic is speeding the shift from human meat cutters to
robotic butchers, 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.
MSNBC Taps Joy Reid for New Evening Program
Longtime political analyst Joy Reid will anchor an evening news
and opinion show on MSNBC, taking over the slot that once featured
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.
WhatsApp's Business-User Base Grew Tenfold From 2019
The messaging platform WhatsApp said it has more than 50 million
users of its business app world-wide each month, a milestone
showing progress in Facebook's efforts to generate revenue from the
Covid-19 Crisis Puts Further Pressure on Big Jets
The aviation-industry crisis triggered by the coronavirus
pandemic is exacerbating a yearslong move by airlines away from big
American, United Cancel Hong Kong Flights Over Mandatory Crew Testing
The two airlines have temporarily canceled flights to and from
Hong Kong after the city said all crew members arriving there would
have to undergo Covid-19 tests.
SoftBank-Backed Chinese Real-Estate Broker Aims to Raise $3 Billion in U.S. IPO
Beike Zhaofang, a Chinese online property brokerage backed by
SoftBank Group, is planning to raise up to $3 billion in an initial
public offering in the coming months, according to people familiar
with the matter, in what would be the largest listing of a Chinese
company in the U.S. in more than two years.
Facebook Takes Down a Network of Accounts Tied to Roger Stone
Facebook said it had removed a network of more than 100 pages
and accounts linked to Roger Stone, the longtime confidant of
President Trump, because it violated company rules against
coordinated inauthentic behavior.
(END) Dow Jones Newswires
July 09, 2020 13:00 ET (17:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.