WeWork Co-Founder Adam Neumann Sues SoftBank Over Failed $3 Billion Deal 
 

WeWork's co-founder and former chief executive Adam Neumann sued SoftBank, accusing the Japanese technology group of breaking a key provision of a deal that gave SoftBank control of the shared-office-space company.

 
United Airlines to Cut Management Ranks by 30% 
 

United Airlines expects to shrink its management and administrative ranks by at least 30% starting in October, according to a memo sent to employees, as the coronavirus pandemic wreaks havoc on the airline industry.

 
Juul Is Moving Base From San Francisco to Washington, D.C. 
 

The e-cigarette maker seeks to repair its ties with regulators and distance itself from Silicon Valley's growth-at-all-costs culture.

 
IBM CEO Lays Out New Initiatives in Cloud, AI 
 

As he addresses the need for growth, Arvind Krishna must drive into the headwinds of a global economic crisis triggered by the coronavirus pandemic.

 
L Brands, Sycamore Agree to Scrap Victoria's Secret Deal 
 

L Brands and Sycamore Partners have agreed to scrap their plans to take Victoria's Secret private, dropping a pact that was reached just weeks before coronavirus forced the lingerie retailer to shut its stores.

 
Rental-Car Industry Gets Crushed by Coronavirus 
 

Avis posted a loss and lower revenue for its latest quarter as the pandemic clamped down on travel. Meanwhile, car-rental rival Hertz prepared to file for bankruptcy.

 
Petrobras Had Record Crude Exports in April 
 

Petrobras, exported a record 30.4 million barrels of crude in April as demand from China recovered to closer to pre-coronavirus levels.

 
Some Companies Began Preparing for a Downturn Before the Pandemic 
 

Finance chiefs were preparing for a downturn long before the coronavirus roiled the global economy; however, few expected it to be as swift or severe.

 
AIG's General Insurance Unit Posts Underwriting Loss: Earnings at a Glance 
 

The coronavirus pandemic led to a $87 million underwriting loss for AIG's General Insurance unit.

 
Shake Shack Pauses Rapid Growth 
 

Shake Shack said Monday it is putting on hold new restaurant openings, as it seeks to shore up its balance sheet after the coronavirus crisis led to the closure of its dining rooms across the U.S. and beyond.

(END) Dow Jones Newswires

May 05, 2020 01:15 ET (05:15 GMT)