Canada's Banks Take Earnings Hit from Loss Provisions 
 

Royal Bank of Canada, Toronto-Dominion Bank Group and Bank of Montreal set aside billions of dollars during their second quarters to guard against defaults by their borrowers. The question now looming for the rest of the year: how much will they need?

 
Occidental Nearly Eliminates Dividend Amid Low Oil Prices 
 

The oil producer, laden with debt following its deal to buy rival Anadarko, plans to pay a quarterly dividend of just 1 cent a share in July as it seeks to conserve cash amid low oil prices and weak demand.

 
Tencent in Talks to Buy Warner Music Stake 
 

Tencent Holdings is in discussions to buy a stake in Warner Music Group as part of the record company's initial public offering, a key test for a new-issue market that has been hobbled by the coronavirus pandemic.

 
Uneven Stock Recovery Divides Real-Estate Industry 
 

Shares of home builders have been standouts this month in an otherwise muted period for the stock market, signaling that investors are betting on a swift housing recovery as stay-at-home orders are lifted.

 
Struggling Retailer Party City Floats Debt Swap With Bondholders 
 

Party City, already weighed down by debt before closing its stores in March in response to the coronavirus pandemic, is floating a debt-for-equity swap with bondholders that would erase millions in debt from its balance sheet.

 
Renault to Cut Over 14,000 Jobs, Slash Production Amid Autos Slump 
 

Renault is planning to slash production capacity by a fifth and cut more than 14,000 jobs around the world, as the French auto giant grapples with a prolonged slump in the global car market.

 
Nordstrom Clears Low Bar for Clothing Retail 
 

Online sales weren't enough to protect Nordstrom from a precipitous revenue drop, but the clothing retailer seems to have what it takes to come out of the crisis in decent shape.

 
Twitter Flags Trump Tweet About George Floyd Protests for 'Glorifying Violence' 
 

Twitter placed a notice on a tweet from President Trump, shielding it from view for breaking what the company said are its rules about glorifying violence.

 
Volkswagen Pours More Than $2 Billion Into China's Electric-Car Industry 
 

Volkswagen is raising its share in a Chinese electric-vehicle joint venture and buying 26% stake in a local battery producer.

 
China's Didi Raises More Than $500 Million for Self-Driving Tech 
 

Chinese ride-hailing giant Didi Chuxing Technology raised more than $500 million in a funding round led by SoftBank Group for its autonomous driving subsidiary, as it competes with well-backed U.S. startups over self-driving technology.

(END) Dow Jones Newswires

May 29, 2020 19:15 ET (23:15 GMT)