Markets


Walgreens to close 200 stores in US Walgreens to close 200 stores in US
- August 09, 2019

The company will also find jobs for the affected employees in nearby locations. According to the news source, the closures only amount to less than 3 percent of Walgreens' 9,500-store-strong network. Walgreens has been hit by challenges including reimbursement cuts and lower price increases for branded drugs. In a statement, Walgreens said, "As previously announced, we are undertaking a transformational cost management program to accelerate the ongoing transformation of our business, ... (more...)
Arizona Iced Tea Creators To Launch Weed-Infused Products Arizona Iced Tea Creators To Launch Weed-Infused Products
- August 09, 2019

Company officials who spoke with the Journal suggest that AriZona co-branded vape pens and weed gummies would lead the way, before getting into a more familiar territory: THC-laced beverages. and we want to be able to mimic that experience as close as possible", Smith told INN. Don't expect to buy them in states that haven't legalized marijuana, because THC is the substance in marijuana that's primarily responsible for causing a high. (more...)
Uber's stock drives right off a cliff after earnings show losses worse Uber's stock drives right off a cliff after earnings show losses worse
- August 09, 2019

Uber's revenues rose 14% to $3.17bn in the second quarter, below analysts' expectations of $3.3bn and the smallest percentage on record. "Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of a year ago", he said. (more...)
Rolls-Royce narrows losses despite aeroplane challenges Rolls-Royce narrows losses despite aeroplane challenges
- August 09, 2019

This will be followed by MTU America Inc., which in future will operate as Rolls-Royce Solutions America Inc. For the six months to 30 June 2019, Rolls-Royce's underlying group revenue increased from £7bn to £7.3bn and its operating profit went from £141m to £203m. (more...)
Britain Will Manage Risks of Brexit: Foreign Secretary Raab Britain Will Manage Risks of Brexit: Foreign Secretary Raab
- August 08, 2019

Mr Raab is on a three-day trip to North America to "fire-up" trade, and in a statement said: "I was delighted to meet the president and the vice president on my first visit to Washington as Foreign Secretary". Mr Trump's apparent enthusiasm for a deal is in marked contrast to the attitude of his predecessor Barack Obama, who said that Britain would be at the "back of the queue" for any kind of trade deal if it left the EU. (more...)
USA oil imports up, exports down last week USA oil imports up, exports down last week
- August 08, 2019

Global benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41%, from their previous settlement and trading near seven-month lows. Elsewhere, data indicating a larger-than-expected drop in United States crude stocks offered some support to oil prices. Speculative positions in the oil market were precariously balanced between bullish and bearish bets in the week to July 30 as money managers were divided in their response to mixed market signals. (more...)
Gold price hits all-time high, nears Rs 38,000-mark Gold price hits all-time high, nears Rs 38,000-mark
- August 08, 2019

Silver also followed the suit and rose by Rs 650 to Rs 43,670 per kg on increased offtake by industrial units and coin makers. Goldman Sachs Group Inc. "With volatility significantly higher and risk of correction in equities markets growing after pretty nasty several days of sell-offs, gold looks like it is attracting investors at a very rapid rate", said Bart Melek, head of commodity strategies at TD Securities in Toronto. (more...)
US bans federal purchases of telecom gear from Huawei US bans federal purchases of telecom gear from Huawei
- August 08, 2019

But Huawei, China's largest telecom company, has been the main focus of attention for the White House and an on-again, off-again bargaining chip in the administration's trade battle. Congressman Jim Banks of the Republican party alleged the Chinese Communist Party was "strong-arming countries into exposing themselves to surveillance and espionage". (more...)
Markets rebound after China indicates it will stabilize yuan Markets rebound after China indicates it will stabilize yuan
- August 08, 2019

ENERGY: Benchmark crude oil lost 41 cents to $53.22 a barrel while Brent crude oil, the global standard, slipped 42 cents to $58.52 a barrel. This was after New Zealand's Reserve Bank implemented a sharper-than-expected (50 basis points) interest rate cut, which caught the market by surprise. (more...)
Subway is the latest restaurant to join the Beyond Meat craze Subway is the latest restaurant to join the Beyond Meat craze
- August 08, 2019

Citing NPD data showing that 70% of meat-eaters substitute for a non-meat protein once a week, Subway boasted that the Beyond Meat deal would give its customers 2 billion potential sandwich options. The new sub features marinara sauce, provolone cheese, grated parmesan cheese and Beyond Meatballs. Subway isn't the only restaurant getting into the Beyond Meat game. (more...)
FedEx ends ground delivery partnership with Amazon FedEx ends ground delivery partnership with Amazon
- August 08, 2019

The company will still provide worldwide deliveries for the online retailer. Amazon accounted for less than 1.3 per cent of FedEx's revenue a year ago. Traditional retailers like Walmart and Target want to sell more of their goods online, which in turn will allow FedEx to distance itself from Amazon without suffering the same competitive damage it might once have. (more...)
UK Data Protection Watchdog Raises Facebook Libra Concern UK Data Protection Watchdog Raises Facebook Libra Concern
- August 07, 2019

Senators were generally very critical of Libra and were concerned about the cryptocurrency in connection with Facebook's reputation for privacy. Facebook launched the Libra network in June with the aim of furthering financial inclusion and helping what they estimate to be 1.7 billion people around the world without bank accounts. (more...)
Britain's Raab praises Trump's warmth, wants a USA trade deal Britain's Raab praises Trump's warmth, wants a USA trade deal
- August 07, 2019

The foreign secretary met with his Canadian counterpart Chrystia Freeland in Toronto on Tuesday and is due to meet with other senior figures in the Trump administration including National Security Adviser John Bolton and Secretary of State Mike Pompeo before travelling to Mexico on Thursday. (more...)
Fed to develop 24/7 instant payment and settlement service Fed to develop 24/7 instant payment and settlement service
- August 07, 2019

The new settlement service will help boost the payment infrastructure in the USA and is expected to launch in 2023 or 2024. Real-time payments could get faster with FedNow. The Fed is a private company backed by the USA government. He points out that the Fed has traditionally provided payment and settlement services as part of its core function. (more...)
Walmart will continue selling guns Walmart will continue selling guns
- August 07, 2019

Walmart goes beyond federal guidelines by requiring customers to pass a background check before purchasing a firearm. At least 20 people were killed while 24 others suffered injuries on Saturday after a man opened fire at its stores in Texas on Saturday, days after a displeased employee killed shot dead two colleagues and a police officer in its store in Mississippi. (more...)
Disney will offer $12.99 bundle for Disney+, Hulu, ESPN package Disney will offer $12.99 bundle for Disney+, Hulu, ESPN package
- August 07, 2019

The bundle, which is only available in the USA, will nearly certainly put pressure on Netflix and Amazon who have similarly priced services - and could be a key strategy in getting folks to ditch those services for ones offered by Disney . (more...)
EMIs set to fall as RBI goes for fourth straight rate cut EMIs set to fall as RBI goes for fourth straight rate cut
- August 07, 2019

Amar Ambani, head of research at Yes Bank, said the market's reaction was largely muted as equity markets had already priced in a potential 50 basis point cut. The path of CPI inflation is projected at 3.1% for second quarter of 2019-20 and 3.5-3.7% for second half 2019-20, with risks evenly balanced. "The transmission of policy repo rate cuts to the weighted average lending rates (WALRs) on fresh rupee loans of banks has improved marginally since the last meeting of the MPC". (more...)
HSBC chief executive steps down amid calls to tackle challenging global environment HSBC chief executive steps down amid calls to tackle challenging global environment
- August 07, 2019

Tucker said in a statement that the bank's 16 percent increase in pretax profits "reflect" Flint's contributions to the group, The Guardian reported. That missed US goal is still below the overall group aim of getting to more than 11% ROE by 2020. What may also be the case, but there is no way to know for sure, is that he may have been trying to push through real change and this was being frowned upon. (more...)
Pak man charged for bribing AT&T staff to illegally unlock phones Pak man charged for bribing AT&T staff to illegally unlock phones
- August 07, 2019

He encouraged insiders to recruit other potential co-conspirators and allegedly paid one employee $428,500 over five years. In all, AT&T insiders received more than $1 million in bribes from Fahd and his co-conspirators, who fraudulently unlocked more than 2 million cell phones , the government alleged. (more...)
NZ central bank stuns with 50bp rate cut NZ central bank stuns with 50bp rate cut
- August 07, 2019

Finance Minister Grant Robertson said Tuesday that the government's economic plan was delivering jobs and higher wages for New Zealanders and that the country was transitioning to more productive and sustainable growth. The bigger-than-expected rate cut is worse news for savers. "Increased construction activity also contributes to the pick-up in demand", the Reserve Bank added. (more...)