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.


 
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.


 
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.


 
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.


 
Avianca Nets $2 Billion in Bankruptcy Loans 
 

One of Latin America's largest airlines, Avianca has lined up a $2 billion bankruptcy-loan package to finance its stay in chapter 11 from a group of investors and lenders including United Airlines and Chairman Roberto Kriete.


 
Suez Moves to Protect Against Veolia Bid 
 

Suez has created a foundation whose mission is to preserve the integrity of its French water activities, in a move by the company to counter a hostile takeover from Veolia.


 
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.


 
DOJ to Seek Curbs on Immunity for Internet Companies 
 

The Justice Department submitted a proposal to Congress on Wednesday to curb longstanding legal protections for internet companies such as Facebook, Google and Twitter.