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 gas prices.

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 food-delivery industry.

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 chapter 11.

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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