Hearst Magazines Names Interim Chief to Succeed Troy Young

Hearst Magazines has named finance chief Debi Chirichella as the interim head of its magazine group following the resignation of Troy Young, who was accused of making lewd and sexist comments. 


 
Bridgewater Associates Lays Off Several Dozen Employees

The world's largest hedge fund made layoffs in its research department, client-services team and among recruiters, an unusually large cut amid a difficult period for Bridgewater's business. 


 
McDonald's to Require Face Masks in U.S. Restaurants

McDonald's says it will require all U.S. customers to wear masks in its stores beginning next month, joining Walmart and other companies that decided that face coverings are needed to help prevent the spread of the coronavirus. 


 
Pandemic Continues to Hit Multiple Sectors: Earnings at a Glance

Companies in a range of industries reported results detailing hardship the Covid-19 pandemic has inflicted across the economy. 


 
Navajo Nation Breaks Off Talks to Buy Remington Out of Bankruptcy

Remington Arms' discussions with the Navajo Nation over a potential bankruptcy sale of the firearms manufacturer have fallen through, leaving the company still searching for a buyer and struggling with debt. 


 
NRG Energy to Acquire Direct Energy for $3.6 Billion

The wholesale and retail power company will add more than three million customers throughout the U.S. and Canada with the acquisition, which will widen its geographic footprint. 


 
Goldman Settles 1MDB Dispute With Malaysia for $3.9 Billion

The Wall Street bank will pay $2.5 billion to the government of Malaysia for its role in the alleged theft of billions of dollars from a government investment fund, and guarantee the recovery of $1.4 billion in assets allegedly stolen from the fund. 


 
Verizon Revenue Drops as Pandemic Slows Phone Shopping

The largest U.S. cellphone carrier continued to add customers during the coronavirus pandemic, though quarterly revenue declined in its core wireless business and its online advertising unit. 


 
Schlumberger Cuts 21,000 Jobs Amid Historic Oil Downturn

The world's largest oil-field services company is cutting about 21,000 jobs as oil producers slash spending in response to a historic drop in prices amid the coronavirus pandemic. 


 
China Pushes Energy Reform With Pipeline Deals

China is moving to wean its economy off coal and boost use of cleaner natural gas, with two of the country's energy giants set to pump nearly $56 billion of assets into a new national pipeline firm.