News Highlights: Top Company News of the Day
German Fitness Chain RSG Wins Gold's Gym Bankruptcy Auction
RSG Group, operator of Germany's McFit fitness clubs, has won an
auction to acquire Gold's Gym out of bankruptcy for $100
Tesla Is No Berkshire, but Mom and Pop Might Buy Anyway
Companies that join or leave the S&P 500 tend to rise and
fall before the fact, costing index fund investors a bit of money.
But now Tesla threatens to crash the party and make a real
AutoNation CEO Won't Return After Medical Leave
The U.S.'s largest car dealership chain, AutoNation said its
former CEO Cheryl Miller won't return from a three-month medical
leave, making her the second chief executive to exit from the top
job in about a year.
EP Energy Proposes $4.4 Billion Debt-Cutting Strategy
The oil-and-gas company floated a chapter 11 exit strategy that
would hand the business to senior bondholders and cut $4.4 billion
in debt, its second restructuring proposal after failing in a
previous bid to leave bankruptcy.
'This Is Not a Normal Recession': Banks Ready for Wave of Coronavirus Defaults
The largest U.S. banks signaled that the worst of the
coronavirus recession is yet to come, opting to stow away tens of
billions of dollars to prepare for an expected wave of loan
Boeing Reports More MAX Cancellations
Boeing culled another 183 jets from its order book in June and
delivered just 10 aircraft, highlighting the pandemic-driven
barriers to recovery for plane makers.
Richard Branson Secures Lifeline for Virgin Atlantic
The financial package, worth about $1.5 billion, will help the
airline stave off bankruptcy and provide some breathing room for
the British billionaire's broader effort to stabilize his travel
and tourism empire amid the pandemic.
Google Steers Users to YouTube Over Rivals
Facebook and other competitors host the same videos, but
engineers have made changes that effectively preference
YouTube-owned by Google-over other video sources. Journal tests
show YouTube usually ends up first and takes most of the slots in
Google Search video carousels, prime results real estate.
U.K. to Ban Huawei From 5G Networks Amid China Tensions
The British government said it would bar telecom companies from
purchasing new equipment made by China's Huawei and gave them until
2027 to remove its technology from their 5G wireless networks, a
sharp about-face that marks a significant victory for the U.S.
Delta Trims Flying Amid Pandemic
Delta Air Lines trimmed plans for more summer flights as
Covid-19 cases increased nationwide and a $5.7 billion loss for the
latest quarter underscored the depth of the crisis facing the
(END) Dow Jones Newswires
July 14, 2020 17:15 ET (21:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.