News Highlights: Top Company News of the Day
June 03 2020 - 2:30AM
Dow Jones News
Lufthansa Losses Surge
Lufthansa reported a first quarter net loss of more than EUR2
billion due to the coronavirus pandemic and said a "far-reaching
restructuring" was necessary to counter the near-collapse in global
air travel.
AXA Slashes Dividend
AXA will halve its dividend for 2019 and said it expects the
coronavirus pandemic to deal a roughly EUR1.5 billion blow to its
earnings for this year.
TUI, Boeing Agree Deal on Grounding Impact
TUI has agreed a compensation package and a new delivery deal
with Boeing for its 737 MAX aircraft that will significantly
reduced capital and financing requirements for the travel
company.
Tech Group Files Lawsuit Against President's Social-Media Executive Order
A group that promotes online rights filed a lawsuit challenging
President Trump's executive order targeting social-media companies,
contending it violates First Amendment rights of the firms and
their users.
Facebook's Zuckerberg Defends Decision to Leave Trump Posts Alone
Facebook CEO Mark Zuckerberg, addressing employees Tuesday,
defended his decision to preserve posts on the platform by
President Trump despite mounting outrage from insiders and
civil-rights activists that one of his messages last week was
tantamount to a call for violence.
Lyft Says Traffic Is Picking Up
The company said demand for rides climbed in recent weeks as
people began venturing out following Covid-19 lockdowns but remains
well below levels seen a year earlier.
Zoom Lifts Full-Year Sales Outlook as Coronavirus Boosts Demand
The company's sales more than doubled in the first-quarter, as a
surge in users working remotely during the coronavirus pandemic
turned the video-chat app into one of the go-to tools for people
quarantined at home.
China's BYD Gets Extension on $1 Billion California Mask Deal
BYD, a Chinese electric-car maker turned mask producer, said it
had secured a second reprieve on a troubled $1 billion deal to sell
N95 masks to the state of California after missing a Sunday
deadline
Francisco Partners Raises Nearly $10 Billion for Tech Deals
Francisco Partners has raised nearly $10 billion across three
funds to invest in technology companies, one of the largest pools
of capital collected by a U.S. private-equity firm this year.
Facebook, PayPal to Invest in Indonesian Ride-Hailing App Gojek
Facebook and PayPal Holdings said on Wednesday they will invest
in Indonesia's Gojek as part of the ride-hailing and food-delivery
firm's latest financing round.
(END) Dow Jones Newswires
June 03, 2020 03:15 ET (07:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.