Wednesday , July 8 2020

Tag Archives: corporate

Civil-Rights Groups Express Disappointment With Facebook Meeting

Civil-rights advocates came out of a meeting Tuesday with Facebook Inc. Chief Executive Mark Zuckerberg saying they didn’t make progress on their demands over how the social-media giant polices the platform. The lack of headway, one week into a boycott by some of the company’s top advertisers over the issue, …

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Palantir, One of Silicon Valley's Oldest Startups, Files to Go Public

Palantir Technologies Inc. said it has confidentially filed paperwork with the Securities and Exchange Commission to go public, ending an extended wait that made the data analytics company one of Silicon Valley’s oldest private startups. Palantir had teased the market with plans to list shares for at least half a …

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Samsung Estimates a 22.7% Rise in Second-Quarter Operating Profit

Samsung Electronics Co. forecast a 28.5% rise in second-quarter operating profit Tuesday, as some components manufacturers ride out the coronavirus pandemic by servicing a boom in internet use fueled by remote working. The world’s largest smartphone and memory chip maker estimates operating profit of 8.1 trillion South Korean won (about …

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Uber to Buy Postmates for $2.65 Billion in Stock

Uber Technologies Inc. said its $2.65 billion deal for rival Postmates Inc. will help it better compete in restaurant delivery and the market for delivering groceries and other staples, a signal of the ride-hailing company’s ambitions to provide a wider range of items to consumer doorsteps. With its all-stock purchase …

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P.F. Chang's, Girl Scouts, Boies Law Firm Among PPP Borrowers

WASHINGTON—The federal government’s Paycheck Protection Program designed to help small businesses weather fallout from the coronavirus pandemic helped a broad swath of organizations, including prominent restaurant chains, law firms and non-profits. Among the recipients the Trump administration disclosed Monday: Boies Schiller Flexner LLP, the law firm headed by antitrust litigator …

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Facebook Suspends Review of User-Data Requests by Hong Kong Authorities

HONG KONG—Facebook Inc. and its WhatsApp messaging service have suspended processing requests for user data from Hong Kong law-enforcement agencies following China’s imposition of a national-security law on the city. WhatsApp is “pausing” such reviews “pending further assessment of the impact of the National Security Law, including formal human-rights due …

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Tech Giants to Face EU Legal Push

BRUSSELS—Big tech companies including Google parent Alphabet Inc., Amazon.com Inc. and Facebook Inc. face a swath of proposed European regulations aimed at curbing their alleged anticompetitive behavior, making them pay more taxes and compelling them to shoulder more responsibility for illegal content on their platforms, said a top European Union …

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Companies Cancel Atlantic Coast Pipeline After Years of Delays

The builders of the Atlantic Coast Pipeline are pulling the plug on the project as companies continue to meet mounting environmental opposition to new fossil-fuel conduits. Duke Energy Corp. and Dominion Energy Inc. said Sunday they were abandoning the proposed $8 billion pipeline—which aimed to carry natural gas 600 miles …

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Next Boeing 737 MAX Government Test Flight Scheduled for Coming Days

The next challenge for bringing Boeing Co.’s 737 MAX jets back into service is slated to play out as early as this week, with another government test flight assessing the safety of software fixes. Called an operational readiness review, it is among a series of test flights anticipated over the …

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With No Summer Concerts, It's Garth Brooks at the Drive-In

Concert promoters—and fans—haven’t given up on live music, even with most summer shows wiped out by the coronavirus pandemic. The stadium shows and festivals that had been expected to make this year the biggest ever for live music have given way to virtual tours and drive-in shows. The performances don’t …

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Luckin Coffee Probe Says Chairman Knew or Should Have Known of Fabricated Transactions

An investigation into the accounting misdeeds at Luckin Coffee Inc. has concluded that the company’s chairman knew—or should have known—about the fabricated transactions that inflated the Chinese coffee chain’s sales last year, according to a person familiar with the matter. A report detailing the internal probe also said that Charles …

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Time for RV Investors to Hit the Road

The recreational-vehicle industry is enjoying a nice ride, but investors shouldn’t park their money for long. With plane travel still largely grounded and the cruise industry temporarily docked, recreational vehicles offer owners the ability to turn shelter-in-place into an instant summer vacation. That has been a boon lately for RV …

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Gasoline Is Cheap This July Fourth. Fuel Retailers Aren't Complaining.

Drivers hitting the road over July Fourth weekend are poised to enjoy the cheapest holiday gasoline prices in years, but the gas stations are doing OK, too. Fuel retailers have benefited from record margins on gasoline in recent months. The difference between the price U.S. consumers paid at the pump …

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Wirecard Executive's Entry Into Philippines Might Have Been Faked

Philippine authorities searching for Jan Marsalek, the former Wirecard AG executive who ran operations for the German fintech company before it went bust, say they believe immigration documents showing he entered the country last month may have been forged. Records appeared to show Mr. Marsalek arrived in the Philippines on …

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Clothing Retailer Lucky Brand Files for Bankruptcy

Clothing retailer Lucky Brand Dungarees LLC has filed for bankruptcy with initial plans to close at least 13 stores and with a possible deal to sell its private equity-backed business to the operator of Aéropostale and Nautica brands. Debts of the Los Angeles-based business, which is owned by Leonard Green …

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