WeWork Sells Majority Stake in China Business, Cutting Costs

The real-estate operator is selling control of its business in China, the latest sign it is abandoning its former rapid-growth approach and looking to reduce risk. 


 
TikTok Asks Judge to Halt Trump's Download Ban

The video-sharing platform asked a federal judge to stop the U.S. from imposing a ban on the app over national-security concerns, with TikTok lawyers citing constitutional provisions for free speech and due process. 


 
Bank to Pay Record Fine for 23 Million Money-Laundering, Terror-Financing Breaches

Westpac, Australia's second-largest bank, said it would pay a $920 million penalty for breaches that included a failure to detect transfers that may have been used to facilitate child exploitation in Asia. 


 
Procter & Gamble Calls for Change to Annual TV Ad-Buying Process

Procter & Gamble's top marketing executive is asking for a later upfront marketplace, as well as more flexibility when buying ads closer to the time that they air. 


 
Hertz Backs New $400 Million ABS Deal to Restock Vehicle Fleet

Hertz Global Holdings Inc. is backing a new effort to raise $400 million that would allow it to keep its rental car fleet stocked with new vehicles for a return to business once the coronavirus pandemic eases. 


 
Wells Fargo CEO Apologizes for Comment on Recruiting Black Employees

Wells Fargo Chief Executive Charlie Scharf apologized in a letter to employees for his remarks related to recruiting Black talent. 


 
Disney Bumps 'Black Widow' to 2021 in Schedule Reshuffle

Disney said it would change the release dates for 10 upcoming films, postponing the Marvel spinoff 'Black Widow' until May and delaying Steven Spielberg's remake of 'West Side Story' by one year to December 2021. 


 
JPMorgan Nears Deal to Settle Spoofing Probes

The bank would pay about $1 billion to wrap up investigations into whether its trading desks manipulated prices for metals and Treasury securities. 


 
Wilmar's China Unit to Raise $2.06 Billion in IPO

Agribusiness giant Wilmar International said unit Yihai Kerry Arawana Holdings will raise $2.06 billion through an initial public offering in China. 


 
Nikola's Talks With Energy Firms Stalled Following Short-Seller Report

The electric-truck maker's pursuit of a deal with BP and other energy companies on hydrogen-refueling stations has paused, the first outward indication that allegations against Nikola are affecting its business plan.