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News Highlights: Top Company News of the Day

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07/08/2020 | 11:16am EDT
Brooks Brothers, Hurt by Casual Friday and Virus, Files for Bankruptcy 

Brooks Brothers, which dressed the American business class in pinstripes for more than 200 years, survived two world wars and the shift to casual dressing. But it was no match for the coronavirus pandemic.

Walgreens to Open Doctors' Offices at Its U.S. Stores 

Walgreens Boots Alliance, hit by slowing profits from prescription drugs, will attach doctors' offices to hundreds of drugstores as the pharmacy chain seeks to remodel itself as a health-care provider.

Tech Startups Got Billions in Government Loans 

Thousands of venture-backed startups took money from the government's Paycheck Protection Program meant to help small businesses weather the economic hit from the coronavirus pandemic, according to Treasury Department data.

KKR to Buy Global Atlantic Financial Group for Around $4 Billion 

Private-equity giant KKR agreed to buy the retirement and life insurance company Global Atlantic Financial Group in a deal that will boost the company's assets under management.

China's Ride-Hailing Giant Didi to Test Beijing's New Digital Currency 

Didi is working with the People's Bank of China to test the central bank's fledgling digital currency on its transportation platform, advancing Beijing's effort to digitize the yuan.

Apple in a Pickle 

Wall Street is so over the moon about Apple's next iPhone that few seem to care when it will actually arrive.

Omnicom Plans $20 Million in Podcast Ads on Spotify 

Omnicom Media Group is increasing its podcast investment now partly because audiences continue to grow and partly because technology is making the ads more targetable and measurable.

Facebook Is Doing Too Little on Civil-Rights Concerns, Auditors Say 

The social-media giant has been too reactive and slow in addressing hate speech, voter suppression and other problematic content on its platform, according to a report from lawyers hired by the company.

Allstate to Buy Rival Insurer National General for $4 Billion 

Allstate says the all-cash deal will help boost its business in the personal property-liability sector.

Deutsche Post Updates Outlook After Strong Earnings 

Deutsche Post said it expects operating earnings of up to EUR3.8 billion for the year, after the logistics company reported a 16% rise in second-quarter profit.


Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.09% 459.63 Delayed Quote.53.94%
BANK OF CHINA LIMITED 0.38% 2.62 End-of-day quote.-21.32%
DEUTSCHE POST AG -0.71% 37.65 Delayed Quote.11.50%
FACEBOOK -0.02% 261.24 Delayed Quote.27.31%
KKR & CO. INC. 1.09% 36.63 Delayed Quote.24.68%
NATIONAL GENERAL HOLDINGS CORP. -0.18% 34.11 Delayed Quote.54.62%
OMNICOM GROUP., INC. 0.98% 54.85 Delayed Quote.-32.95%
SPOTIFY TECHNOLOGY S.A. -0.92% 251.32 Delayed Quote.69.62%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.10% 6.938 Delayed Quote.-0.21%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.09% 6.9501 Delayed Quote.-0.36%
WALGREENS BOOTS ALLIANCE, INC. 2.22% 41.91 Delayed Quote.-30.46%
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