US Business

Chinese coffee chain Luckin Coffee Inc.’s co-founder Charles Lu will remain chairman—at least for now—after the board failed to get the necessary votes to oust him, the company said Thursday.

Leaders of civil rights groups are meeting with Facebook executives after calling for an ad boycott of the platform for the month of July. Facebook, which has been under growing pressure to change and update some of its content and brand-safety policies, this week requested a new meeting with civil rights leaders.

Beijing is telling foreign companies not to worry, but its intercession in Hong Kong has executives fearing that the city’s unique role as a business hub is in jeopardy.

German prosecutors are probing whether the electronic-payments giant used fictitious revenue to inflate its sales and fool investors. The company and its auditors say $2 billion that is missing probably never existed.

Safety fixes after the first Boeing 737 MAX crash became snarled in Federal Aviation Administration delays and repetitive analyses, wasting any chance U.S. regulators had to prevent the second fatal accident, according to an investigation by the Transportation Department’s internal watchdog.

McDonald’s is pausing the reopening of dine-in service in the U.S. as coronavirus cases continue to spread across states.

The company had been reopening locations but is now temporarily closing dozens of stores in Texas, California and other states.

Major auto makers reported sharp drops in second-quarter U.S. vehicle sales, as sweet discounts and financing deals weren’t enough to offset factory and dealership closures from the Covid-19 pandemic.

The upstart hasn’t yet developed an approved drug, its chief can be excoriating and until recently investors were disillusioned. A breakthrough coronavirus vaccine could come in trials starting this month.

As its peers write down U.S. shale assets by billions of dollars amid lower energy prices, Exxon Mobil stands increasingly alone in not adjusting the value of its holdings, and some accountants are questioning why.