News Highlights: Top Company News of the Day
10 July 2020 - 10:30AM
Dow Jones News
Two Suitors Compete to Scoop Brooks Brothers Out of Bankruptcy
A battle is brewing for control of Brooks Brothers, with at
least two apparel ventures looking to take over the bankrupt
clothing retailer, according to people familiar with the
matter.
Starbucks to Require Customers to Wear Masks
Starbucks will require customers in the U.S. to wear masks at
company-operated stores starting next week, a decision that comes
as new coronavirus cases rise sharply in parts of the country.
Harley-Davidson to Cut 13% of Global Workforce
The motorcycle maker's restructuring plan, including about 700
job cuts, will result in costs of about $42 million in the second
quarter.
PC Sales Surge, Boosted by Homebound Workers
Personal-computer sales rebounded in the June quarter, driven by
higher demand from workers and students forced to study and work
remotely amid the coronavirus pandemic.
Prudential Reprices Some Insurance Products as Lower Rates Weigh on Profits
Prudential Financial planned for a pandemic as severe as the
Spanish flu, modeling for a potential crisis that would be more
severe than the initial coronavirus outbreak suggested. This
prepared the company for some of the financial shocks, such as the
difficulty in preserving capital, but not the ultralow interest
rates.
Germany Probes Possible Money Laundering by Wirecard Executives
German prosecutors are looking into possible money laundering by
executives at Wirecard, adding to probes related to potential fraud
and fake accounting at the insolvent payments firm.
Latam Airlines Gets $1.3 Billion in Bankruptcy Financing from Oaktree
Latin America's biggest airline has lined up an additional $1.3
billion in private financing to carry it through bankruptcy as
carriers in the region continue to receive little in the way of
government support.
Tyson Turns to Robot Butchers, Spurred by Coronavirus Outbreaks
The pandemic is speeding meatpackers' shift from human meat
cutters to automated ones, but machines can't yet match people's
ability. While meat processing overall has grown safer in recent
years, it remains one of the more hazardous jobs in the U.S.
economy.
Elon Musk Gloats as Rally Drives Tesla Shares to New Heights
The auto maker's strong performance during the pandemic has sent
its stock soaring, dealing a blow to investors betting against the
Silicon Valley auto maker. And Tesla's chief is having a blast
rubbing their noses in it.
State-Owned Punjab National Bank Reports $490.9 Million Fraud
Punjab National Bank said it has been hit by a $490.9 million
fraud by one of its customers, the latest in a string of such cases
to affect the lender.
(END) Dow Jones Newswires
July 10, 2020 05:15 ET (09:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.