Coca-Cola Sales Fall 28% With Fewer Products Sold at Bars, Restaurants

The beverage giant saw an improvement in its quarterly sales as lockdowns eased. About half of Coca-Cola's business comes from restaurants, bars, movie theaters and sports stadiums, many of which were shut during the latest quarter. 


 
Elon Musk Aims Tesla at Fourth Straight Profitable Quarter

A positive second-quarter earnings report for Tesla would mark the first time the 17-year-old company has generated four consecutive quarters of profit and would qualify it for consideration in the S&P 500. 


 
CEO of Tapestry, Parent of Coach and Kate Spade Brands, Resigns

Jide Zeitlin has resigned as chairman and chief executive of New York luxury retailer Tapestry for personal reasons. 


 
LinkedIn to Lay Off About 6% of Its Workforce

Citing the coronavirus pandemic's effect on hiring, LinkedIn said it will lay off about 960 people, or around 6% of its workforce. 


 
EBay to Sell Classified-Ad Business to Norwegian Firm for $9.2 Billion

EBay is to sell its classified-advertising business to Norway's Adevinta for $9.2 billion in cash and stock, in a deal that allows the online auction pioneer to refocus on its core marketplace business while positioning it to benefit from growth in the classifieds unit. 


 
UBS's Focus on Wealthy Clients Cushions Against Losses

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


 
Covid Could Breathe Renewed Life Into What's Left of IAC

IAC expects life to return to normal, but could thrive on an altered reality in the meantime. 


 
Cyberattack on Freddie Mac Vendor Highlights Supply Chain Vulnerabilities

A recent cyberattack on one of Freddie Mac's vendors showed how large companies are vulnerable to breaches targeted not only at themselves but also at companies they hire. 


 
Novartis Sales Fall as Stockpiling Reversed

Novartis said that its net profit and sales declined in the second quarter with medicine stockpiling triggered by the coronavirus pandemic in the previous quarter largely reversing. 


 
Remy Cointreau 1Q Sales Fall; Raises Half-Year Guidance

Remy Cointreau said that sales for the first quarter of its fiscal year came in above expectations and raised its half-year guidance.