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News Highlights: Top Company News of the Day

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07/02/2020 | 11:16pm EDT
Tech Tycoon Peter Thiel Shies From Trump Re-Election Campaign 

The president's most prominent Silicon Valley supporter has told friends and associates that he plans to sit out this year's presidential campaign because he thinks re-election is increasingly a long shot, people familiar with the matter say.

Luckin Coffee's Chairman Survives Board Vote for His Removal 

Chinese coffee chain Luckin Coffee Inc.'s co-founder Charles Lu will remain chairman-at least for now-after the board failed to get the necessary votes to oust him, the company said Thursday.

Apparel Brands Push More-Stylish Dressing at Home 

Banana Republic, Ann Taylor and other business-casual retailers are trying to figure out how to convince home-bound Americans to do better than T-shirts, leggings and gym shorts.

Uber Under Pressure to Beef Up Food Delivery 

Looking to get stronger in food delivery, the ride-hailing giant is eyeing Postmates as the pandemic has crushed Uber's rides business and surging infections have dimmed early hopes for speedy economic reopenings.

Arthritis Drug Fails in Study of Covid-19 Patients 

Regeneron Pharmaceuticals and Sanofi said their arthritis drug Kevzara failed to help Covid-19 patients recover in a U.S. clinical trial.

Hydroxychloroquine Given Early Helped Coronavirus Patients, Study Finds 

An antimalarial drug helped reduce deaths in hospitalized patients infected with Covid-19, according to a large retrospective study.

Facebook Boycott Organizers Want a Civil Rights Expert in the Company's Executive Suite 

Leaders of civil rights groups are meeting with Facebook executives after calling for an ad boycott of the platform for the month of July. Facebook, which has been under growing pressure to change and update some of its content and brand-safety policies, this week requested a new meeting with civil rights leaders.

Coronavirus Surge Tests Safeguards for Meatpacking Workers 

New infections grow in major meat-producing states as the industry has returned to regular production levels in recent weeks.

Tailored Brands Skips Bond Payment, Starting 30-Day Clock 

The operator of Men's Wearhouse and Jos. A. Bank stores has skipped a payment to bondholders, but the struggling retailer elected to make scheduled interest payments to lenders due the same day.

Exxon Warns Production, Refining Losses to Hurt Earnings 

Exxon Mobil warned of steep losses in its refining and oil-and-gas production businesses during the second quarter, signaling that the company is likely to report a second straight quarterly loss later this month.


Stocks mentioned in the article
ChangeLast1st jan.
EXXON MOBIL CORPORATION 2.46% 44.51 Delayed Quote.-36.21%
FACEBOOK -2.03% 263 Delayed Quote.28.14%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.14% 143.775 End-of-day quote.-1.79%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.10% 103.7 End-of-day quote.-16.92%
LONDON BRENT OIL 0.27% 45.08 Delayed Quote.-32.36%
LUCKIN COFFEE INC. 13.68% 2.41 Delayed Quote.-93.88%
REGENERON PHARMACEUTICALS -1.93% 608.24 Delayed Quote.61.99%
SANOFI -0.76% 86.72 Real-time Quote.-3.24%
TAILORED BRANDS, INC. 11.74% 0.218 Delayed Quote.-94.73%
WTI 0.35% 42.135 Delayed Quote.-31.45%
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