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TALKING POINTS

Supreme Court says Booking.com can trademark its name

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LEGAL

Supreme Court says Booking.com can trademark its name

The travel website Booking.com can trademark its name, the Supreme Court determined, a ruling that also impacts other companies whose name is a generic word followed by “.com.” The high court issued its 8-1 ruling Tuesday. Lower courts had sided with Booking.com, but the Trump administration had appealed to the Supreme Court. Other businesses including Cars.com, Dictionary.com, Newspapers.com, and Wine.com had said the outcome in the case would affect their ability to trademark their names too. — ASSOCIATED PRESS

REAL ESTATE

Home prices rose in April with fewer houses on the market

US home prices gains accelerated in April even as sales have stumbled, a sign the coronavirus outbreak has had little impact on real estate values. The S&P CoreLogic Case-Shiller 20-city home price index climbed 4 percent in April compared with a year earlier, the largest gain since December 2018, up from 3.9 percent in March. Home sales have fallen sharply for three straight months to their lowest annual pace in nearly a decade in May. Yet the supply of available houses for sale has also declined, compared with a year ago, forcing remaining buyers to bid up prices. — ASSOCIATED PRESS

AVIATION

Airbus to cut 15,000 jobs

Battered by the coronavirus pandemic, European aircraft manufacturer Airbus said Tuesday that it must eliminate 15,000 jobs, mostly in Europe, to safeguard its future and warned of more thin years ahead. “With air traffic not expected to recover to pre-COVID levels before 2023 and potentially as late as 2025, Airbus now needs to take additional measures,” the company said in a statement. No later than the summer of 2021, Airbus wants to shed 5,000 workers in France, 5,100 in Germany, 1,700 in Britain, 900 in Spain, and 1,300 others at facilities elsewhere. The total of 15,000 is more than 10 percent of its global workforce of 135,000 people. — ASSOCIATED PRESS

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GOVERNMENT

FCC deems Huawei and ZTE threats to US security

The Federal Communications Commission designated Huawei Technologies Co. and ZTE Corp. as national security threats, a step toward driving the Chinese manufacturers from the US market where small rural carriers rely on their cheap network equipment. The action means money from federal subsidies used by many small rural carriers may no longer be used to buy or maintain equipment produced by the companies, the FCC said in a news release. — BLOOMBERG NEWS

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AVIATION

Norwegian Air cancels order for 97 Boeing jets

Norwegian Air Shuttle has notified Boeing that it is terminating purchase agreements for all 97 of its remaining jets on order, citing the prolonged grounding of the 737 Max and engine problems with the 787 Dreamliner. The decision covers 92 of Boeing’s Max narrow-body planes, five of the long-distance Dreamliners, and a related maintenance pact, Norwegian said in a statement. — BLOOMBERG NEWS

PAY TELEVISION

Comcast cuts ties with conservative activist

Comcast, the largest US pay-TV provider, has cut its ties to conservative activist Matthew Schlapp, who has drawn criticism for remarks about Black Lives Matter. Schlapp is chairman of the American Conservative Union and a principal of Cove Strategies, an organization that’s aligned with Republican politicians. In early June, he accused Black Lives Matter of being “hostile to families, capitalism, cops, unborn life and gender.” Last week, Abbott Laboratories announced it was cutting ties to Schlapp, according to Crain’s Chicago Business. On Fox News, he was also critical of groups seeking to remove historic statues that they find offensive. — BLOOMBERG NEWS

PANDEMIC

French insurer to cover losses for hundreds of restaurants

AXA has agreed to cover losses sustained by several hundred restaurants during the coronavirus lockdown after the French insurer lost a lawsuit brought by a policyholder. A small number of policies sold to restaurants to insure against disruption of their business were “not 100 percent clear in their language” on coverage, chief executive Thomas Buberl said at a shareholders’ meeting on Tuesday. “Very few of them were insured against the risk of operating loss without damage,” he said. For these restaurants, AXA has paid compensation that’s “outside of their contract.” Restaurant owner Stephane Manigold sued AXA, seeking compensation for operating losses following a government order to close bars and eateries. A Paris court ruled in late May that the insurer had to cover two months of lost revenue. AXA said it would appeal the decision, but quickly settled with Manigold. — BLOOMBERG NEWS

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STREAMING

Netflix to shift $100m to lenders that serve the Black community

Netflix Inc. will shift up to $100 million to lenders that serve the Black community, making it the largest company yet to pledge cash to historically underfunded financial institutions. The online TV giant will start by shifting $25 million into the Black Economic Development Initiative, a new fund that will invest in Black-owned financial institutions serving low-income communities, and $10 million to Hope Credit Union. Going forward, the company will steer 2 percent of its cash on hand, which currently amounts to about $5 billion, to financial organizations that directly support African-American communities. — BLOOMBERG NEWS

FOOD DELIVERY

Uber in talks to buy Postmates

Uber Technologies Inc. is in talks to purchase Postmates Inc., said a person familiar with the discussions, seeking to expand food delivery services in the United States and capitalize on a surge in orders during the coronavirus pandemic. Postmates is alternatively exploring various paths to go public, said the person, who asked not to be identified because the discussions are private. One option it’s considering would involve merging with a special purpose acquisition company, the person said. In the talks with Uber, a deal could value Postmates at $2.6 billion, according to the Wall Street Journal. Representatives for Uber and Postmates declined to comment. The New York Times reported earlier Monday that Uber had made an offer to acquire Postmates. — BLOOMBERG NEWS

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ENERGY

Shell to cut value of assets by $22 billion

Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the COVID-19 pandemic. Earlier this month, its competitor BP, also cut the value of its own assets by up to $17.5 billion. The supply of oil and gas was particularly high when the outbreak began, creating a perfect storm for the industry. With storage facilities filling up, the US price of oil went below zero in April for the first time ever. — ASSOCIATED PRESS

ATHLETIC GEAR

Lululemon buys home fitness startup

Lululemon, the purveyor of expensive athleisure and activewear, is betting on the future of personalized remote exercise as a way to reach customers by acquiring Mirror, a home fitness startup that sells a $1,495 wall-mounted machine for streaming workout classes. The $500 million purchase, which Lululemon announced Monday, is the company’s first acquisition and follows its $1 million investment in Mirror last year. It’s a coup for Mirror and its chief executive, Brynn Putnam, a former New York City Ballet dancer who introduced the product in 2018 and has raised $72 million from investors. Mirror charges customers $39 a month to stream its live or on-demand classes. — NEW YORK TIMES

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