News Highlights: Top Company News of the Day

07/10/2020 | 05:16pm
U.S. National Security Panel Reviewing Chinese Investors' Purchase of Pharma Firm 
 

The inquiry focuses on the 2017 acquisition of South Carolina-based Ritedose after national-security officials learned it was in talks with the Pentagon over a project involving injection devices for a coronavirus vaccine.

 
Amazon Tells Employees to Delete TikTok From Mobile Devices on Security Concerns 
 

Amazon is requiring its hundreds of thousands of employees to remove the TikTok app from mobile devices that can access the company's email system due to unspecified security risks.

 
Carnival to Shed 13 Ships 
 

Cruise operator Carnival expects to reduce its fleet by 13 ships, or nearly 9% of its capacity, as the company continues to burn cash amid sailing suspensions caused by the coronavirus pandemic.

 
Apex Linen, Unraveled by Covid-19, Files for Bankruptcy 
 

The private-equity-backed provider of dry cleaning and laundry services to Las Vegas hotels and casinos has filed for bankruptcy, blaming the havoc that the coronavirus pandemic has created in the travel business.

 
American Airlines Has Threatened to Cancel Some Boeing 737 MAX Orders 
 

American has threatened to cancel some of its orders for Boeing's troubled 737 MAX jets, people familiar with the matter said, a sign of deepening financial stress in aviation.

 
SoFi Makes Second Attempt to Start Its Own Bank 
 

The financial-tech startup filed an application with regulators this week to create SoFi Bank, a Utah-based bank of which it would be the sole owner. The effort comes nearly three years after SoFi abandoned a similar attempt.

 
Rivian Raises $2.5 Billion as Investors Chase Electric-Car Buzz 
 

Rivian Automotive, the electric pickup-truck startup backed by Ford Motor, Amazon and other investors, has secured another $2.5 billion in private funding, providing it with cash to release new vehicles next year.

 
Spotify, Tinder, Other Apps Suffer Outages Due to Facebook Glitch 
 

A number of popular apps such as Spotify and Tinder experienced outages because of a bug in Facebook's software for iPhone users.

 
European Companies Took $100 Bln Revenue Hit During Coronavirus Pandemic 
 

Energy, automotive and fashion companies reported significant revenue declines for early 2020

 
Soap Makers Are Cleaning Up, but Can't Get Enough Hand Pumps 
 

A surge in demand for soap and hand sanitizer during the pandemic has led to a global shortage of plastic hand pumps, propelling companies to redesign packaging and urge customers to reuse them.

 
 

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