News Highlights: Top Company News of the Day
Shell to Book up to $22B in Writedowns
Shell expects to book post-tax impairments of up to $22 billion
in the second quarter after it lowered its expectations for oil and
Monte Dei Paschi Backs Bad-Debt Transfer Plan
Italy's Banca Monte dei Paschi di Siena has approved a plan to
transfer more than EUR8 billion of impaired loans to AMCO, a
state-owned manager of bad debt.
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
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.
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.
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
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.
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.
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.
(END) Dow Jones Newswires
June 30, 2020 03:00 ET (07:00 GMT)
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