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 will 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.
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.
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.
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.
Battle Over Uber Drivers' Employment Status Resurfaces in Europe
Two legal developments in Europe this week are putting a renewed focus on Uber's global battle over the employment status of its drivers.
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.