Friday , July 3 2020

Business

The Boycott Got Facebook's Attention, but a Real Fix Is Nowhere in Sight

Is the mass advertising boycott hitting Facebook Inc. a meaningful turning point for the social-media king? Or is it just another public-relations storm it weathers on its way to joining the Trillion-Dollar Club? Companies like Coca-Cola and Unilever are pausing their social-media spend, citing a variety of reasons, most commonly …

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China's Economy Regains Strength After Strict Coronavirus Measures

BEIJING—Economic activity is gathering momentum in China, a raft of survey data showed this week, the latest sign that Beijing’s uncompromising approach to tackling the coronavirus pandemic is starting to pay dividends even as the U.S. shuts down swaths of its economy in a struggle to contain the virus. A …

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Can a More Powerful Taser End Police Killings?

Rick Smith, the man who pioneered Taser stun guns, says he wants to manufacture a next-generation Taser that is so effective police officers won’t have to use their pistols anymore. But he says it will take 10 years. “Lethal force, even today, is still the most effective way to stop …

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With a Few Covid-19 Adjustments, Chinese Factory Gets Back to Work

ZHANGJIAGANG, China—Factories in the U.S. and around the world are facing the challenge of how to reopen safely following the coronavirus pandemic. After weeks of lockdown and social distancing, bringing back thousands of employees to work together in proximity could cause new clusters of infection, setting back the economic recovery …

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During Covid-19 Pandemic, the Used-Car Lot Is Hot

The Covid-19 pandemic has dinged the auto sector, but one part of the industry is faring better than it was before the crisis: used cars. Sales of used vehicles in the U.S. have roared back after dropping 38% in April, when states were shut down and some dealerships were forced …

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Uber Under Pressure to Beef Up Food Delivery

Uber Technologies Inc. needs a win. After a failed bid for Grubhub Inc., the ride-hailing giant is trying to buy much smaller food-delivery company Postmates Inc. as it seeks surer footing in the era of Covid-19. The San Francisco-based company needs to get stronger in the competitive world of food …

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What Makes Bars and Restaurants Potential Covid-19 Hot Spots

Public-health experts and government officials say they are worried bars and restaurants are playing a significant role in increasing Covid-19 case counts across parts of the U.S. These spaces pose particular challenges for transmission control because of both human behavior and the way the coronavirus spreads most efficiently—indoors through… Source …

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FedEx, the Washington Redskins' Most Prominent Sponsor, Asks the Team to Change Its Name

FedEx Corp., the Washington Redskins’ most prominent sponsor and the namesake of the NFL team’s stadium, called for the franchise to change its name, a company spokeswoman said. The move is the starkest challenge yet to the franchise over a name that is commonly defined as a racial slur. Native …

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TikTok Tackles India App Ban, Vowing It's No Tool for Beijing

New Delhi—TikTok, a popular short-video app, sought to distance itself from Beijing after India banned it and dozens of other Chinese mobile apps in retaliation for a deadly border clash last month. In response to the ban, which was given on cybersecurity grounds, TikTok Chief Executive Kevin Mayer said Chinese …

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Arthritis Drug Fails in Study of Covid-19 Patients

Regeneron Pharmaceuticals Inc. and Sanofi SA said their arthritis drug Kevzara failed to help Covid-19 patients recover in a U.S. clinical trial. The failure clouds a class of drugs being studied as potential treatments for Covid-19 patients who experience an abnormal immune response known as “cytokine storm,” which researchers and …

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Apparel Brands Push More-Stylish Dressing at Home

Business-casual retailers are trying to figure out how to entice Americans who have grown used to T-shirts, leggings and gym shorts to buy their blazers, maxi dresses and fancier pants. Brands like Ann Taylor, Banana Republic and Express have organized online categories around working or staying at home, hoping to …

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Facebook Boycott Organizers Want a Civil Rights Expert in the Company's Executive Suite

Facebook Inc. leaders including Chief Executive Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg are set to meet early next week with civil rights groups that called for an advertising boycott against the company over its handling of hate speech and misinformation. Among the top requests from the groups will …

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Luckin Coffee's Chairman Survives Board Vote for His Removal

Chinese coffee chain Luckin Coffee Inc.’s co-founder Charles Lu will remain chairman—at least for now—after the board failed to get the necessary votes to oust him, the company said Thursday. The company didn’t disclose the tally. A vote of at least two-thirds of the other directors present and voting at …

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Tech Tycoon Peter Thiel Shies From Trump Re-Election Campaign

President Trump’s most prominent Silicon Valley supporter, billionaire Peter Thiel, has told friends and associates that he plans to sit out this year’s presidential campaign because he thinks re-election is increasingly a long shot, people familiar with the matter say. Mr. Thiel, a venture capitalist and co-founder of PayPal Holdings …

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How Wirecard Went From Tech Star to Bankrupt

Markus Braun built Wirecard AG from an obscure firm based in a small town outside of Munich into a global electronic-payments giant. From its perch at the crossroads of online commerce, Wirecard extracted fees for processing credit-card transactions on behalf of businesses. It pushed into emerging markets, bought up smaller …

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Exxon Warns Production, Refining Losses to Hurt Earnings

Exxon Mobil Corp. warned Thursday of steep losses in its refining and oil-and-gas production businesses during the second quarter, signaling that the company is likely to report a second straight quarterly loss later this month. Lower oil and gas prices are poised to drag down production profits by an estimated …

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