News Highlights: Top Company News of the Day
30 June 2020 - 6:30AM
Dow Jones News
Uber in Talks to Buy Postmates for About $2.6 Billion
Uber Technologies is in discussions to buy Postmates for about
$2.6 billion, according to people familiar with the matter, the
latest in a rapid-fire series of moves to consolidate the
food-delivery industry.
Fast Food Franchisee NPC International Expected to File for Bankruptcy
NPC International, one of the largest restaurant franchisees in
the U.S., is preparing to file for bankruptcy protection despite
its brands reporting a bump in sales since the coronavirus
pandemic, people familiar with the matter said.
Boeing Faces Big 737 MAX Cancellation From Norwegian
Norwegian Air Shuttle ASA said it is its canceling orders for 92
of Boeing Co.'s troubled 737 MAX jets, threatening to add to the
U.S. planemaker's mounting financial strain.
Wells Fargo to Cut Dividend; Other Big Banks Hold Steady
The fourth-largest U.S. bank, unlike its major rivals, expects
to cut its dividend for the first time in more than a decade to
help weather the coronavirus pandemic.
Amazon to Pay $500 Million in Bonuses for Front-Line Workers
The e-commerce company's one-time payout follows months of
strong demand from consumers stuck at home during coronavirus
lockdowns and pressure on workers handling the jump in orders.
India Blocks Chinese Apps, Including TikTok, After Border Clash
India banned dozens of Chinese mobile apps, including widely
used TikTok and WeChat, after a border clash between troops from
the two countries left 20 Indian soldiers dead this month.
Chesapeake Energy to Start Tapping $925 Million Bankruptcy Loan
The oil-and-gas producer has been cleared to begin drawing on a
$925 million bankruptcy loan, a crucial first step in its plan to
eliminate billions of dollars of debt from its balance sheet in
chapter 11.
Cirque du Soleil Files for Bankruptcy Protection in Canada
Investment firms TPG, Fosun International and Caisse de Depot et
placement du Quebec have submitted a proposal to buy the circus
company's assets
Las Vegas Workers Sue Casinos Over Covid-19 Safety
Las Vegas Strip hospitality workers sued casino operators,
saying they failed to protect employees from the coronavirus, in
one of the first efforts to hold employers legally responsible for
infections as U.S. cases surge.
Lululemon Buys Mirror, an At-Home Fitness Startup, for $500 Million
Lululemon is buying at-home fitness company Mirror for $500
million, a deal that aims to capitalize on pandemic-fueled upheaval
in the fitness and retail industries.
(END) Dow Jones Newswires
June 30, 2020 01:15 ET (05:15 GMT)
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