Finland’s Nokia Oyj plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the unit’s workforce, the group said on Monday, confirming an earlier Reuters report. The announcement has political resonance in France as Nokia bought the unit five years ago on condition it would keep jobs. Nokia, which competes with Ericsson and Huawei on lucrative 5G networks, said in a statement the staff reduction was needed because of significant cost pressures.

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TikTok users say their videos helped drive down attendance at Trump’s Tulsa rally; the White House prepares for a second wave; China halts some chicken imports from Tyson over Covid-19 concerns. WSJ’s Shelby Holliday has the latest on the pandemic. Photo: Nicholas Kamm/AFP

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Stock futures rose Monday morning as market participants weighed prospects that the virus-stricken economy would rebound quickly against fears over a rise in new cases over the weekend.

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