Bankrupt Hertz Wants to Sell Up to $1 Billion in New Shares
Rental-car company Hertz Global Holdings wants to capitalize on the rally in its stock seen earlier this week by selling up to $1 billion in shares, despite a bankruptcy that threatens to wipe them out.
Boeing Supplier Freezes 737 MAX Work
Boeing has told its biggest supplier, Spirit AeroSystems Holdings, to freeze its recently resumed production of parts for the 737 MAX to prevent creating a glut of new jets for airlines during the coronavirus pandemic.
DoorDash Nears Deal to Secure Funding From T. Rowe Price, Fidelity, Others
DoorDash Inc. is close to securing new funding that would value the largest U.S. meal-delivery company at more than $15 billion before the infusion, as a wave of deal making sweeps over the red-hot industry.
Companies Make Big Pledges Toward Initiatives on Race
Businesses ranging from tech titans Apple and Google to toy maker Hasbro announced new measures and big-dollar initiatives to promote racial justice, as company leaders race to show their commitment to change amid the national outcry stemming from George Floyd's killing.
Twitter Takes Down Chinese Government-Linked Accounts It Says Pushed Propaganda
The social media platform said it removed about 174,000 accounts that it labeled as fake and operated by China to promote its narratives about the coronavirus, Hong Kong protests and other topics.
Lululemon Posts Sharp Drop in Sales
Lululemon's sales fell sharply in the last quarter as U.S. and European stores were closed amid the coronavirus pandemic and as surging online sales weren't enough to offset the decline.
Cathay Passenger Traffic Stayed Weak in May
Cathay Pacific Airways Ltd.'s passenger traffic continued to be weak in May, dropping 99% on year, as the aviation industry bears the brunt of the Covid-19 restrictions that curbed business and leisure travel.
Nestlé Explores Sale of Majority of North American Water Brands
Nestlé SA is exploring a sale of the majority of its North America waters business, including brands like Poland Spring and Pure Life, as the world's largest bottled-water maker tries to adapt to shifting consumer tastes.
Apollo Sues Serta Simmons and Owner Advent Over Debt Dispute
Apollo Global Management is suing private-equity firm Advent International in a dispute over how to financially restructure Serta Simmons Bedding LLC, the country's largest mattress maker, which Advent owns.
Zuckerberg Lieutenant Returns to Facebook, a Year After Departure
Former top Facebook Inc. deputy Chris Cox is returning to the social-media giant, just over a year after leaving amid disagreements with CEO Mark Zuckerberg over the company's direction.