News Highlights: Top Company News of the Day

07/01/2020 | 01:16 am
Facebook Bans Large Segment of Boogaloo Movement 
 

Facebook has classified a large segment of the boogaloo movement as a dangerous organization and banned it from its network, in the tech company's broadest move yet against the group.

 
FedEx Reports Better-Than-Expected Revenue as Residential Deliveries Surge 
 

FedEx said Christmas-like levels of online shopping boosted its business, and it is seeing tentative signs that the global economy is recovering from the coronavirus pandemic.

 
FCC Designates Huawei and ZTE as National Security Threats 
 

The U.S. Federal Communications Commission said it designated Huawei Technologies and ZTE as national security threats.

 
EQT Sets EUR12.5 Billion Goal for Its Fifth Infrastructure Fund 
 

The firm's next infrastructure pool would be its biggest yet and follows a record year for infrastructure fundraising in 2019.

 
Airbus Plans to Cut 15,000 Jobs, Citing Impact of Coronavirus 
 

Airbus said it would cut 15,000 jobs across its commercial aircraft division, the biggest restructuring in the planemaker's history, citing what it expects to be the Covid-19 pandemic's yearslong impact on the aviation sector.

 
Aeroméxico Files for Chapter 11 Bankruptcy Protection 
 

Mexican airline company Grupo Aeroméxico said it has filed for voluntary restructuring under chapter 11 of the U.S. bankruptcy code to confront the crisis brought on by the coronavirus pandemic.

 
Tribune Publishing in Talks to Give Hedge Fund Alden Global Another Board Seat 
 

Tribune Publishing is in talks to add the co-founder of Alden Global to its board as part of an agreement that would prevent the hedge fund from making a hostile bid to buy the rest of the newspaper company in the near future, according to people familiar with the matter.

 
Cirque du Soleil Eyes Mid-August Deadline to Resolve Ownership Spat 
 

Cirque du Soleil Entertainment Group is targeting a mid-August deadline to select a winning bidder for the business and put to rest an ownership feud between secured creditors and top shareholder TPG.

 
BOC Aviation Cancels Orders for 30 Boeing 737 MAX Jets 
 

Chinese-owned aircraft lessor BOC Aviation Ltd. has canceled orders for 30 Boeing Co. 737 MAX jets and deferred delivery of others, potentially adding to the U.S. plane maker's growing financial strain.

 
Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices 
 

Royal Dutch Shell is writing down the value of its assets by up to $22 billion because of lower energy prices following the demand-sapping coronavirus pandemic.

 
 

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