EU's Top Court Restricts Personal-Data Transfers to U.S.
Thousands of companies may have to stop storing information about EU residents on servers in the U.S., after the bloc's top court ruled that such transfers expose Europeans to U.S. government surveillance without what it described as "actionable rights" to challenge it.
Alstom Sales Tumble; Sees Rail Recovery
Alstom sales fell by 27% in the first quarter to EUR1.51 billion, but the engineering giant reiterated its previous outlook and said it expects a fast recovery in the rail market.
Richemont Sales Almost Halve
Richemont reported a 47% fall in first quarter sales due to "unprecedented levels of disruption" from the coronavirus pandemic, with the decline felt across all regions except China.
Anglo American Cuts Coal Output Guidance
Anglo American said its overall production fell 18% in the second quarter due to lockdowns and mine incidents, and the global miner cut its full-year guidance for coal output.
Telenor Cautious Despite Earnings Beat
Norway's Telenor posted above-forecast underlying profits of NOK14.33 billion in the second quarter, but cautioned that subscriptions this year will be lower than 2019.
Heineken Volumes Drop 13%
Heineken said its business was significantly hurt by the coronavirus pandemic in the first half, with revenue, volumes and profits all down.
Widespread Twitter Hack Reaches Bill Gates, Kanye West, Elon Musk, Joe Biden and Barack Obama
Apple was also apparently hacked. It was latest in a series of security failures on the social-media platform.
American Airlines Plans to Furlough Up to 25,000 Workers This Fall
The airline told tens of thousands of employees that their jobs are at risk after federal aid expires Oct. 1, as air-travel demand falls again amid climbing coronavirus infections.
Virgin Galactic Names Disney International Parks Head as Next CEO
Virgin Galactic, Richard Branson's space-tourism venture, has tapped Michael Colglazier of Disney as its next chief executive as the company prepares for commercial services.
Walmart, Kroger to Require Shoppers to Wear Masks in All U.S. Stores
Walmart and Kroger will require customers to wear face coverings inside all their U.S. stores, joining a growing chorus of big businesses and state leaders deciding that masks are needed to battle the surge in coronavirus cases.
