Coverage: Alibaba reports 61 percent increase in sales
Alibaba Group Holding Ltd., China’s biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits. Cate Cadell of Reuters had the news: Revenue rose 61 percent to 80.9 billion yuan ($11.77 billion) in the April-June period, compared with analysts’ average estimate of 80.7 […]
Talking Biz News Today — Aug. 24, 2018
Some of Friday’s top business news stories: Associated Press Slide in banks, energy firms weighs on U.S. stock indexes, by Alex Veiga Government acts to stop high-tax states from skirting $10K cap, by Marcy Gordon and Geoff Mulvihill Bloomberg Elon Musk hires Morgan Stanley to help take Tesla private, by Dana Hull and Sonali Basak Venmo considers making it harder […]
Coverage: Target posts its best earnings in more than a decade
Shares of Target Inc. surged Wednesday after the retailer reported unprecedented growth in foot traffic at its stores, along with second-quarter profit, revenue and comparable store sales that surpassed analysts’ expectations. Lauren Thomas of CNBC.com had the news: The big-box retailer also said digital sales skyrocketed more than 40 percent during the quarter. Building on that momentum, it […]
Talking Biz News Today — Aug. 23, 2018
Some of Thursday’s top business news stories: Associated Press S&P 500 marks longest bull run on mixed day for indexes, by Alex Veiga For many young investors, the stock market’s only gone up, by Stan Choe Bloomberg Driverless startup Zoox suddenly removes CEO, by Mark Bergen and Ashlee Vance Facebook suspends 400 apps in developer data investigation, by Sarah Frier Fortune […]
Coverage: Toll Brothers stock surges on luxury home sales
Toll Brothers Inc.’s quarterly profit rose 30 percent, the U.S. luxury home builder said on Tuesday, as stronger housing demand helped it sell more homes at higher prices. Meenal Vamburkar of The Real Deal had the news: “We have buyers that will only shop new,” CEO Douglas Yearly said on the company’s earnings call. “We are […]
Talking Biz News Today — Aug. 22, 2018
Some of Wednesday’s top business news stories: Associated Press Microsoft’s anti-hacking efforts make it an internet cop, by Matt O’Brien Ranks of most valuable companies shifted during bull market, by Marley Jay Bloomberg Tesla stays on rocky run after Morgan Stanley drops coverage, by Esha Dey U.S. stocks hit record; Yen, bonds pare losses, by Randall Jensen and Sarah Ponczek Fortune […]
Coverage: PepsiCo is buying SodaStream for $3.2 billion
PepsiCo Inc. announced Monday that it is buying SodaStream International, the Israeli company behind the do-it-yourself soda maker, for $3.2 billion, betting big on seltzer water. Abha Bhattarai of The Washington Post had the news: Seltzer sales have grown rapidly in recent years, as brands like La Croix, Topo Chico and Polar become household names. Much of […]
Talking Biz News Today — Aug. 21, 2018
Some of Tuesday’s top business news stories: Associated Press Experts say Tesla board may have too many ties to CEO Musk, by Ken Sweet and Tom Krisher U.S. firms to Trump: Don’t raise tariffs on more Chinese goods, by Paul Wiseman Bloomberg Trump complains to donors in the Hamptons about Powell’s rate hikes, by Jennifer Jacobs and Saleha Mohsin Apple is planning […]
How the Musk interview was different than other CEO interviews
David Gelles of The New York Times writes about how the paper’s interview with Tesla Inc. chief executive officer Elon Musk last week was different than other CEO interviews. Gelles writes, “While each of those articles was different, my interactions with the executives were more or less the same. There was almost always a public relations […]
Coverage: “Crazy Rich Asians” exceeds box office expectations
The Warner Bros. romantic comedy “Crazy Rich Asians” opened to an estimated $25.2 million at the domestic box office this weekend and made $34 million over its five-day opening, which exceeded industry expectations that had it bringing in closer to $25 million. Frank Pallotta of CNNMoney.com had the news: “Crazy Rich Asians” is a watershed moment for on-screen […]
