United Airlines said it is exploring the possibility of shedding almost half its U.S. workforce amid the pandemic-driven shake-up of the industry.

Brooks Brothers filed for bankruptcy protection. The clothier plans to halt manufacturing at its three U.S. factories on Aug. 15 and will search for a new owner.

Facebook and its critics tried to win over advertisers after an audit found continued problems with how the firm polices hate speech and other content on its platform.

The Justice Department is examining whether Wirecard played a critical role in an alleged bank-fraud conspiracy connected to an online marijuana marketplace.

A federal judge dismissed a GM lawsuit accusing Fiat Chrysler of bribing union officials to gain an advantage on its labor costs.

The Nasdaq rose 1.4%, to a record, while the S&P 500 and Dow gained 0.8% and 0.7%, respectively. Mainland Chinese shares extended a winning streak.

The U.S. budget deficit totaled $863 billion in June, nearly as much as the entire gap for fiscal year 2019.

KKR struck a deal to buy insurer Global Atlantic for more than $4.4 billion.

Allstate agreed to acquire peer National General for about $4 billion.

Bayer is scrapping a $1.25 billion proposal to resolve future lawsuits over whether Roundup causes cancer.