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News Highlights: Top Company News of the Day

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06/03/2020 | 01:16am EDT
Facebook, PayPal to Invest in Indonesian Ride-Hailing App Gojek 

Facebook and PayPal Holdings said on Wednesday they will invest in Indonesia's Gojek as part of the ride-hailing and food-delivery firm's latest financing round.

Lyft Says Traffic Is Picking Up 

The company said demand for rides climbed in recent weeks as people began venturing out following Covid-19 lockdowns but remains well below levels seen a year earlier.

Tesco CFO to Step Down in April 2021 

Alan Stewart took over the U.K. grocer's finances in 2014 and is credited with rebuilding its balance sheet and resolving an accounting scandal.

Tech Group Files Lawsuit Against President's Social-Media Executive Order 

A group that promotes online rights filed a lawsuit challenging President Trump's executive order targeting social-media companies, contending it violates First Amendment rights of the firms and their users.

Facebook's Zuckerberg Defends Decision to Leave Trump Posts Alone 

Facebook CEO Mark Zuckerberg, addressing employees Tuesday, defended his decision to preserve posts on the platform by President Trump despite mounting outrage from insiders and civil-rights activists that one of his messages last week was tantamount to a call for violence.

Neiman Marcus Denies Breaching Terms of Deutsche Bank Loan 

The department-store chain denied violating the terms of a loan from top-ranking lender Deutsche Bank, saying it has $100 million more cash on hand than projected because sales have been better than expected.

Zoom Lifts Full-Year Sales Outlook as Coronavirus Boosts Demand 

The company's sales more than doubled in the first-quarter, as a surge in users working remotely during the coronavirus pandemic turned the video-chat app into one of the go-to tools for people quarantined at home.

Rental-Apartment Operator Greystar Bulks Up 

Greystar Real Estate Partners said it is acquiring a business that manages nearly 130,000 housing units, a deal that extends Greystar's position as the country's largest operator of rental apartments.

Francisco Partners Raises Nearly $10 Billion for Tech Deals 

Francisco Partners has raised nearly $10 billion across three funds to invest in technology companies, one of the largest pools of capital collected by a U.S. private-equity firm this year.

Mall Owner CBL Misses Debt Payment, Seeks Renegotiation 

Mall owner CBL & Associates Properties said it failed to make an interest payment of $11.8 million to bondholders on Monday, becoming the first major retail landlord during the coronavirus pandemic to take this step toward a bond default.


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -7.50% 5.8 Delayed Quote.5.45%
DEUTSCHE BANK AG -1.10% 8.614 Delayed Quote.24.53%
FACEBOOK 0.38% 244.5 Delayed Quote.19.12%
JUST GROUP PLC 0.38% 47.98 Delayed Quote.-39.27%
LETS HOLDINGS GROUP CO., LTD. 2.68% 11.86 End-of-day quote.96.36%
LOOK HOLDINGS INCORPORATED -0.85% 702 End-of-day quote.-43.93%
PAYPAL HOLDINGS, INC. 0.91% 183.23 Delayed Quote.69.39%
TESCO PLC -1.58% 212 Delayed Quote.-17.08%
THE NEW HOME COMPANY INC. -0.92% 3.24 Delayed Quote.-29.83%
WILL GROUP, INC. -2.16% 634 End-of-day quote.-49.36%
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