Macy's Posts $431 Million Loss as Stores Continue Recovery

Macy's reported $3.6 billion in sales, up from $3 billion in the previous quarter, but nearly $2 billion less than the company recorded in the second quarter of 2019. 


 
Credit Suisse Faces Enforcement Proceedings Over Spying Scandal

Switzerland's financial regulator said it had started enforcement proceedings against Credit Suisse over the physical surveillance of two bank executives last year. 


 
TikTok Deal Talks Hit a Snag Over App's Algorithms

Deal talks for TikTok's U.S. operations have been complicated by the key question of whether the app's core algorithms can be included as part of a deal, according to people familiar with the matter. 


 
Changes in the Balance of Power Are Upending Aviation

Fee reductions across the aviation industry expose how the pandemic is shifting the balance of power between airlines, airports and passengers. As so often, budget carriers may emerge alongside consumers as the winners. 


 
SEC Probes China's GSX Techedu After Short Sellers' Pleas

The New York-listed tutoring company said the SEC asked it to produce financial and operating records dating back to the beginning of 2017 after short sellers accused it of inflating its sales 


 
Pernod Ricard Books EUR1 Bln Impairment

Pernod Ricard, the owner of Absolut Vodka and Jameson Whiskey, booked a 1 billion euro impairment for its fiscal year as sales plunged with the shutdown of bars, events and airport liquor stores world-wide during the coronavirus pandemic. 


 
Coffee Subscription Startup Raises $9 Million, Sees Growth Despite Pandemic

Trade will use the new capital to leverage rising consumer demand and build out Trade's operations to reach an expanding subscriber base. 


 
Mobile-Gaming Company Skillz to Go Public

The deal valuing Skillz at $4.3 billion involves a merger with a blank-check firm run by Hollywood veterans Harry Sloan and Jeff Sagansky, who also helped bring DraftKings to the market. 


 
Facebook Pulls Accounts Tied to Russia's Internet Research Agency

The social-media giant said it removed recently created accounts and pages linked to a Russian group that U.S. authorities have accused of interfering in the 2016 presidential election. 


 
Intel CIO Says AI Playing a Growing Role in Chipmaker's Operations

Intel Corp. Chief Information Officer Archana Deskus says artificial intelligence has become more critical to the semiconductor maker during the coronavirus pandemic.