Covid-19 Prompts Walmart to Close Stores on Thanksgiving Day

The retailer also plans to pay employees another special bonus in reaction to the pandemic. "We know it's been a trying year,' its U.S. chief told staff. 


 
Men's Wearhouse, Jos. A. Bank Parent Looks to Close More Than Third of Stores

Tailored Brands said it will also will lay off 20% of its corporate staff as the Covid-19 pandemic saps demand for its chains' apparel. 


 
Tapestry Board Had Opened Probe Into CEO Zeitlin Before He Resigned

Jide Zeitlin resigned as the chairman and chief executive of Tapestry amid a board investigation into his personal behavior, according to people familiar with the situation. 


 
Carlyle Co-CEO Glenn Youngkin to Step Down

Carlyle Group said its co-chief executive Glenn Youngkin will step down, leaving Kewsong Lee in sole charge of one of the world's largest private-equity firms. 


 
Wells Fargo CFO John Shrewsberry to Leave

Wells Fargo said it would replace its long-serving chief financial officer, the latest executive to leave as the bank's new CEO shakes up top management. 


 
Coca-Cola Sales Fall 28%, but It Says the Worst Is Over

The beverage giant said it believes the biggest challenges of the pandemic are behind it, despite the current surge in coronavirus cases in many parts of the U.S. Executives expect sales to improve in Asia and Europe. 


 
Lockheed Martin Boosts 2020 Guidance

The world's biggest defense company raised its full-year sales and profit guidance as the Pentagon accelerated defense contract awards and pledged to cover the industry's increased costs during the coronavirus pandemic. 


 
Arkansas Pension Sues Allianz Over More Than $700 Million Loss

An Arkansas public pension plan sued Allianz Global Investors and its corporate parent, alleging the money manager violated its fiduciary duties and abandoned risk controls when it sought to reverse February losses by doubling down on a series of unprofitable trades. 


 
UBS's Focus on Wealthy Clients Cushions Against Losses

Swiss lender UBS said it could start buying back stock again later this year despite the shadow over markets from the coronavirus pandemic. 


 
Philip Morris Beats 2Q Expectations But Volumes Fall 18%

Philip Morris International said its profit and sales fell for the latest quarter as the cigarette producer saw weaker demand and faced some manufacturing challenges tied to the Covid-19 pandemic.