Tech Giants to Face EU Legal Push

Google, Amazon and Facebook face proposed European rules aimed at curbing their alleged anticompetitive behavior, making them pay more taxes and compelling them to shoulder more responsibility for illegal content. 


 
Commerzbank's CEO and Chairman to Resign Amid Pressure From Activist Cerberus

The second-largest German lender is in the midst of a deep overhaul but solid financial performance remains elusive. 


 
Air France To Slash Jobs

Air France plans to cut more than 7,500 jobs, after the airline said it was losing EUR15 million a day at the peak of the coronavirus crisis, with activity and revenue declining 95%. 


 
Lloyds Bank CEO to Step Down

Lloyds Banking Group said its Chief Executive Antonio Horta-Osorio has informed the board of his intention to retire in 2021. 


 
Chinese Chip Giant Pursues Year's Biggest Stock Sale

Semiconductor Manufacturing International is preparing a $6.55 billion stock offering on Shanghai's high-tech STAR market, as China moves to shore up its semiconductor capabilities amid heightened tensions with the U.S. 


 
Next Boeing 737 MAX Government Test Flight Scheduled for Coming Days

The next challenge for bringing Boeing Co.'s 737 MAX jets back into service is slated to play out as early as this week, with another government test flight assessing the safety of software fixes. 


 
Companies Cancel Atlantic Coast Pipeline After Years of Delays

Duke Energy and Dominion Energy are pulling the plug on the proposed $8 billion pipeline under the Appalachian Trail as companies continue to meet environmental opposition to new fossil fuel conduits in the U.S. 


 
Coronavirus Is No Cure for Health-Care Stocks

The S&P 500's health-care sector finished June as the second-worst performer of the index's 11 groups, a shift from earlier this year when the stocks offered shelter during market turbulence. 


 
Luckin Coffee Probe Says Chairman Knew or Should Have Known of Fabricated Transactions

An investigation into the accounting misdeeds at Luckin Coffee has concluded that the company's chairman knew-or should have known-about the fabricated transactions that inflated the Chinese coffee chain's sales last year, according to a person familiar with the matter. 


 
U.K. Government, Bharti Global Commit $1 Billion to Buy Satellite Company OneWeb

The U.K. government and Bharti Global committed to pay $1 billion to acquire satellite company OneWeb and fund the restart of its operations.