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. 


 
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. 


 
Airlines Launch Legal Action Over U.K. Quarantine Rule

British Airways, easyJet and Ryanair, Britiain's three biggest airlines, have launched a legal action to overturn the U.K. government's 14-day quarantine policy. 


 
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. 


 
Activist Cevian Builds Pearson Stake

Activist investment firm Cevian Capital has built a 5.4% stake in U.K.-based education company Pearson, according to a regulatory filing. 


 
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. 


 
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. 


 
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. 


 
PG&E Launches Hunt for $20 Billion for Bankruptcy Exit

PG&E Corp. is asking a bankruptcy judge for an order allowing it to go to market to sell $20 billion worth of new debt and equity as it awaits approval of its plan to exit chapter 11.