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News Highlights: Top Company News of the Day

05/18/2020 | 01:16pm EDT
Uber Cuts 3,000 More Jobs, Shuts 45 Offices 
 

Uber is reducing staff, closing more than three dozen offices and re-evaluating big bets in areas ranging from freight to self-driving technology, CEO Dara Khosrowshahi said in an email to employees.

 
Peet's Coffee Owner Brews $2.2 Billion IPO 
 

The investment firm behind Peet's Coffee is pushing ahead with an initial public offering of its coffee business, aiming to raise up to $2.2 billion, according to a person familiar with the matter.

 
Hertz Names Paul Stone as CEO as Firm Fights for Survival Amid Covid-19 
 

Hertz named Paul Stone as its president and chief executive, effective Monday, at a time when the decimation in global travel has battered the car-rental industry.

 
Among the Losers, Low-Cost Airlines May Lose Less 
 

Budget carriers like Ryanair are suffering from the Covid-19 crisis, but a shrinking industry also brings them some advantages.

 
SoftBank in Talks to Sell T-Mobile Shares to Deutsche Telekom 
 

SoftBank is in talks to sell a significant portion of its T-Mobile US stake to controlling shareholder Deutsche Telekom as the Japanese technology conglomerate scrambles to raise funds.

 
Huawei Braces for Latest U.S. Hit, but Some Say Loopholes Remain 
 

Huawei said the Trump administration's move to thwart its access to semiconductors will damage its ability to maintain its telecommunications networks, but some U.S. specialists say the latest ban has significant loopholes.

 
Moderna Says Initial Covid-19 Vaccine Results Are Positive 
 

Moderna said a Phase 1 trial of a candidate Covid-19 vaccine showed a positive sign of potential to prevent infection with the new coronavirus.

 
Tesla's Production Restart Could Ease Path to Inclusion in S&P 500 Index 
 

A surprise second-quarter profit could qualify Elon Musk's car company for its addition to a key investor benchmark.

 
Hong Kong Opens Door for Alibaba in Index Overhaul 
 

Alibaba Group Holding and other Chinese technology companies appear set to join Hong Kong's main stock benchmark, after the compilers of the city's flagship Hang Seng index revamped their inclusion rules.

 
Intu in Talks with Lenders, Expects Covenant Breaches 
 

Intu said its shopping centers will remain closed, except for essential stores, until June 1, and that while talks with lenders continue, it expects to break covenants or material liquidity requirements.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 3.52% 150.18 Delayed Quote.-35.47%
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
DEUTSCHE TELEKOM AG -0.65% 17.464 Delayed Quote.17.49%
DJ INDUSTRIAL 0.21% 34869.37 Delayed Quote.13.69%
HANG SENG 1.37% 24529.74 Real-time Quote.-11.14%
NASDAQ 100 -0.81% 15204.824891 Real-time Quote.18.94%
NASDAQ COMP. -0.52% 14969.969964 Real-time Quote.16.75%
RYANAIR HOLDINGS PLC -1.94% 16.96 Real-time Quote.6.43%
S&P 500 -0.28% 4443.11 Delayed Quote.18.62%
SOFTBANK GROUP CORP. -0.05% 6624 End-of-day quote.-17.80%
T-MOBILE US -1.27% 127.78 Delayed Quote.-5.24%
UBER TECHNOLOGIES, INC. 1.33% 47.25 Delayed Quote.-7.35%
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