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Can Rite Aid Stock Bounce Back After Last Week's 14% Drop?
The struggling drugstore chain stumbles following Amazon’s new push into pharmacy services. …read more […]
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Samsung’s second-quarter profit seen flagging as smartphone innovation dries up
SEOUL (Reuters) – Samsung Electronics Co Ltd is expected to post its smallest profit growth in more than a year in the second quarter, as lacklustre sales of its premium Galaxy smartphones overshadow its highly profitable chip business.
Business News
Hong Kong’s craft beer sector grows, but real prize may be few miles away
HONG KONG (Reuters) – The number of craft beer brewers in Hong Kong has risen to more than 35 from none five years ago and many are betting on China’s expanding market to fuel sales, especially as the mainland develops an economic zone just a few miles away.
Business News
Uber in talks with Dubai’s Careem to merge in Middle East: Bloomberg
(Reuters) – Uber Technologies is in preliminary talks with rival Careem to combine their Middle Eastern ride-hailing services, Bloomberg reported on Tuesday, citing three people familiar with the matter.
Business News
Germany’s Thyssenkrupp restructuring to continue after steel deal: CEO
FRANKFURT (Reuters) – Thyssenkrupp Chief Executive Heinrich Hiesinger said he would restructure the German industrial conglomerate further after signing a long-awaited deal to merge its steel assets with those of India’s Tata Steel .
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Oil Prices Head Higher On Huge Crude Draw
The API has reported yet another draw in both crude oil and gasoline inventories, with the crude oil draw significantly higher than analysts had expected, sending oil prices up …read more […]
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U.S. allows ZTE transactions to maintain networks
The authorization from the U.S. Commerce Department’s Bureau of Industry and Services, dated July 2 and which was seen by Reuters, runs until Aug. 1. ZTE and spokespeople for the U.S. Department of Commerce did not respond to requests for comment. ZTE, which makes smart phones and networking gear, was forced to cease major operations in April after the United States slapped it with a supplier ban saying it broke an agreement to discipline executives who conspired to evade U.S. sanctions on Iran and North Korea. …read more […]
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Uniqlo Lands Roger Federer With a $300 Million Contract
Nike isn’t doing it for the tennis star anymore. …read more […]
Business News
Barnes & Noble boots out CEO for policy violations
(Reuters) – Barnes & Noble Inc said on Tuesday it terminated Demos Parneros as chief executive officer, citing violations of the bookseller’s policies.
Business News
U.S. allows ZTE transactions to maintain networks
(Reuters) – The U.S. Commerce Department has granted ZTE Corp, China’s No. 2 telecommunications equipment maker, the authority to engage in commercial transactions needed to maintain existing networks and equipment in the United States as it works toward the lifting of a U.S. sales ban.
Business News
Barnes & Noble terminates CEO Demos Parneros
(Reuters) – Barnes & Noble Inc on Tuesday said it terminated Chief Executive Officer Demos Parneros, citing violations of the retail bookseller’s policies.
Business News
Tesla shares skid further on concern over Model 3, report on brake test
(Reuters) – Tesla Inc shares closed sharply lower on Tuesday amid analyst skepticism about its Model 3 cars and a news report that said the company had stopped running a brake test on its cars.
Business News
Trump supporters urge Walmart boycott over ‘Impeach 45’ clothing
NEW YORK (Reuters) – U.S. retailer Walmart Inc faced an outcry from supporters of President Donald Trump on Tuesday for listing for sale on its open marketplace clothing with the slogan “Impeach 45,” an apparent reference to Trump, the country’s 45th president.
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Sprint Takeover Needs Scrutiny Over China Ties, Lawmakers Say
U.S. lawmakers plan to pressure the Trump administration to closely scrutinize T-Mobile US Inc.’s planned purchase of Sprint Corp., arguing the acquisition poses a threat to American security because the owner of Sprint has ties to Chinese telecommunications company Huawei Technologies Co. A draft letter to Treasury Secretary Steve Mnuchin, who leads a U.S. national security review of the deal, is to be sent next week and is being circulated for signatures among lawmakers in the House by congressional critics of the deal, according to a copy obtained by Bloomberg News. The $26.5 billion merger of the No. …read more […]
Business News
Cuban flagship airline’s woes deepen after crash
HAVANA (Reuters) – In the busy summer travel period in Cuba, a long line of people wait for hours in the sweltering heat outside the Havana office of state-owned airline Cubana, many of them eager to visit families in the provinces.