IBM Announces First Job Cuts Under New Chief Executive

An unspecified number of layoffs come as a major economic slowdown triggered by the coronavirus pandemic causes many customers to dial back investments. 


 
Burberry Slashes Dividend as Sales Slide

Burberry said its sales fell 27% in the final quarter of fiscal 2020 and it slashed its dividend to 11.3 pence "to protect its future cash position." 


 
Vodafone Names Heineken CEO as Chairman

Vodafone has designated Heineken's Chief Executive Jean-Francois van Boxmeer as its next chairman, replacing Gerard Kleisterlee who plans to retire in November after nine years in the role. 


 
Nvidia Earnings Rise, as Coronavirus Lifts Games and Remote Services

The chip maker recorded strong growth in computer games and remote computing services, driven by people stuck at home during the pandemic. 


 
KKR to Invest $1.5 Billion in Reliance's Jio Platforms

Private-equity firm KKR & Co. has agreed to invest $1.50 billion in Jio Platforms Ltd., joining the list that includes Facebook Inc. and other big U.S. firms that want a slice of the Indian telecommunications and technology giant. 


 
Facebook to Shift Permanently Toward More Remote Work After Coronavirus

The social-media giant plans to become a substantially remote workforce over the next decade, CEO Mark Zuckerberg said, as it moves to embrace the dispersed structure made necessary by the pandemic. 


 
U.S. to Invest $1.2 Billion to Secure Potential Coronavirus Vaccine From AstraZeneca, Oxford University

The U.S. government has agreed to hand AstraZeneca up to $1.2 billion to secure the supply of a potential coronavirus vaccine that could be ready as early as October. 


 
SelectQuote Jumps in Market Debut

SelectQuote's shares climbed nearly 36% in its first day of trading, in what is set to be the largest U.S. initial public offering since February, as the coronavirus pandemic continues to throw companies' plans to go public into disarray. 


 
J.Crew Landlords Pursue Rent From Reopened Stores

Dozens of J.Crew's landlords, including some of the biggest mall owners in the country, are seeking rent payments from the retailer's stores as they reopen, according to court filings. 


 
Murray Energy Faces Pivotal Month After Bankruptcy-Loan Default

The coal producer said it has defaulted on its $440 million bankruptcy financing package, setting up a pivotal month as it aims to leave chapter 11 amid a market downturn exacerbated by the coronavirus pandemic.