Google is taking action to weed out scam artists who advertise on its platform aiming to defraud customers seeking technical support by masquerading as authorized service agents for companies such as Apple.
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Friday, August 31, 2018
Elon Musk Faces His Own Worst Enemy
The visionary entrepreneur seeks to ferry mankind to Mars and investors to prosperity. His ego may be all that stands in the way.
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Ford Scraps Plan to Import China-Built Small Car Due to Tariffs
Ford has ditched plans to import its Focus compact from China to the U.S., citing an expected hit from import tariffs the Trump administration put into effect.
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Alphabet's Chairman on Government, China and Fake News
John L. Hennessy talks about the future that Silicon Valley is creating, the rise of employee activism and how Google should address censorship.
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Restaurants Will Feast on Trump's Tariffs, Just Not Yet
The response to President Trump’s tariffs on China, Mexico and other countries has hit American agriculture hard. Meanwhile, casual-dining chains have been pegged as beneficiaries.
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Trump Says He Will 'Study' Federal-Worker Pay
President Trump said Friday he will spend the weekend studying a hold on federal pay increases for 2019 that he instituted a day earlier.
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To Counter China, U.S. Looks to Invest Billions More Overseas
The U.S. is finalizing plans to double funding for big infrastructure projects around the world, seeking to counter China’s growing influence.
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U.S. Consumer Sentiment Improves in Late August
U.S. household confidence rose in late August, and consumers are increasingly referencing job and income security when asked to explain why they are buying vehicles and homes.
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U.S., Canada Rush to Hash Out Nafta Compromise
U.S. and Canadian officials remained apart on key points of contention in talks over a revised North American Free Trade Agreement as they gathered for a fourth straight day to meet a White House-imposed deadline.
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Atlanta's Growing Pains Are Getting Worse
The gentrification debate in Atlanta has been focused to a large extent on the BeltLine, Atlanta’s trail project that follows rail corridors in a 22-mile loop around the city.
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Why Walmart Shoppers Are Finding More Items 'Out of Stock'
Walmart has begun telling online shoppers that some products in its warehouses are “out of stock” after the retailer changed its e-commerce systems to avoid orders deemed too expensive to ship.
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Japanese Chip Maker Renesas in Talks to Buy Integrated Device Technology
Renesas Electronics is in the late stages of negotiations to acquire California-based Integrated Device Technology for about $6 billion, seeking to strengthen its position as a major provider of autonomous-driving components.
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All Isn't as Bad as Your Wired Brain Tells You
Magnified and distorted by the internet’s algorithms, our primitive biases cause us to fear every possible threat is just outside our door.
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Airlines Increase Fees
Big carriers are raising fees on luggage, ticket changes and other services to cover rising fuel costs without pushing up base fares.
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California Advances Net-Neutrality Rules in Rebuke to Trump FCC
California moved to reinstate Obama-era open-internet rules, challenging Trump administration rollback efforts and setting the state on a path to have the strongest net-neutrality rules in the nation.
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Coming Soon to Facebook: Lots of Extreme Political Ads
Campaign strategists are gearing up to flood Facebook with inflammatory and polarizing ads heading into the midterm elections, saying its advertising platform rewards extreme messaging more than other venues.
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Dunkin' Donuts Invests $100 Million in Brand Refresh
Dunkin’ Donuts is putting cash in the hands of its franchise owners to equip stores to better serve customers accustomed to ordering on mobile devices.
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Coca-Cola to Buy U.K. Coffee Chain Costa for $5.1 Billion
Coca-Cola said it would buy British coffee-shop chain Costa for $5.1 billion, diversifying further from its soft-drink roots and marking the latest bet by a major consumer goods company on coffee.
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U.S. Hedge Fund Seeks Board Shake-Up at Toshiba
New York-based King Street has proposed new independent directors at Toshiba, the first indication of dissatisfaction among the foreign funds that bought into the Japanese industrial conglomerate last year.
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Thursday, August 30, 2018
Chinese Videogame Companies Shudder as Government Tightens Grip
The Chinese government is tightening its control over videogames, including restricting the number of online games and limiting play time for children, which sent shares of Tencent and NetEase tumbling.
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Boeing Wins Big Navy Contract for Drones
Boeing’s Navy deal, potentially worth billions of dollars, could stem declining sales at the aerospace giant’s defense arm.
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San Francisco Denies Scooter Permits for Bird, Lime, Uber and Lyft
The nation’s tech capital dealt a blow to the largest shared-scooter companies on Thursday, awarding two smaller startups exclusive rights to rent the electric-powered vehicles for a year in a decision that could change the course of the nascent market.
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The 'Trump Slump': With a Friend in the White House, Gun Sales Sag
Turbocharged by the threat of bans and restrictions, U.S. weapons sales accelerated during the Obama administration, especially for the AR-15 semiautomatic rifle. An industry that thrived on panic over gun control now aims for a new approach.
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Dollar-Store Sales Rise, Though Shoppers Feel Pressure of Rising Costs
Dollar General and Dollar Tree reported stronger sales in the latest quarter, but executives from both chains said Thursday that their customers are feeling pressure from rising rents and other monthly expenses.
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Maersk Tankers Turns to Wind Power to Cut Soaring Fuel Costs
Marine fuel prices are soaring and the shipping industry is looking for ways to harness ocean winds to power oceangoing vessels. Danish shipping company Maersk Tankers said it has installed devices that are effectively high-tech sails that could cut the vessel’s fuel bill by up to 10%.
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Signet Surges After Surprise Sales Growth
Shares of Signet Jewelers Ltd. surged 25% on Thursday after the world’s largest retailer of diamond jewelry reported positive same-store sales growth for the first time in a year.
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U.S.-Canada Trade Talks Take On 'Intense Rhythm'
Marathon trade talks between the U.S. and Canada moved into what Canada’s chief negotiator called “an intense rhythm,” as the two sides rushed to try to strike a deal by the Friday deadline set by the Trump administration.
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Trump's Nafta Rewrite Holds Promise for Labor Unions
Labor unions, a traditional adversary of the Republican Party, could be a winner in President Trump’s planned rewrite of the North American Free Trade Agreement.
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Trump to Freeze Pay Raises for Civilian Federal Employees
President Trump said he will invoke his emergency authority to cancel pay increases for civilian federal workers next year, citing strained federal budgets.
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U.S. Consumer Spending Rose 0.4% in July
Americans spent all of their income gains and then some in July, suggesting the economy sustained momentum going into the second half of the year.
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Argentina's Central Bank Lifts Policy Rate to 60%
The Central Bank of Argentina sharply raised interest rates at an unscheduled meeting Thursday in an effort to shore up the peso which fell to new lows after the government asked the IMF to speed up loans under its bailout package.
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EU Trade Official Proposes Ending All Car Tariffs With U.S.
The European Union’s top trade official proposed going beyond a U.S.-EU trade plan agreed at the White House last month and eliminating all car tariffs.
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Microsoft to Require Its Suppliers, Contractors to Give Paid Family Leave
Microsoft will soon require its suppliers and contractors to provide at least 12 weeks of paid time off to new parents.
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Electronic Arts Delays 'Battlefield V' Release
Electronic Arts has delayed the release of its ‘Battlefield V’ game by one month to make some final adjustments after receiving feedback from the gaming community.
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Bidding War Brewing Over Brookstone Brand
Brookstone’s brand is at the center of a brewing bidding war between two brand-licensing firms.
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Stryker Agrees to Buy Spinal-Device Maker K2M
Stryker agreed to acquire medical-device company K2M Group in a deal valued at about $1.2 billion.
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Core Inflation Hits Fed's 2% Target as Spending Heats Up
A key measure of underlying inflation accelerated last month to the fastest annual clip since 2012, as robust spending by consumers and businesses pushed up prices across the economy.
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VW Earnings to Be Hit by Delays in Meeting New Emissions Rules
Volkswagen warned earnings could be hit by up to $1.17 billion because of delays in certifying new vehicles to meet stricter European emissions testing rules.
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New Samsonite CEO's Lessons From the Short-Selling Crisis
Kyle Gendreau, an executive at Samsonite, was in New York winding down after a conference in May when he received an urgent call from a colleague in Hong Kong. A short seller in Texas had just released a 48-page report.
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Japan Scrutinizes Huawei, ZTE Over Spying Fears
Japan is studying restrictions on Chinese telecommunications-equipment companies Huawei Technologies and ZTE as U.S. fears of cyberspying by Beijing prod allies to follow suit.
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U.S.-Mexico Trade Pact Faces Scrutiny From Lawmakers at Home
The U.S.-Mexico trade deal announced by the two countries’ leaders this week now faces scrutiny from their respective legislators, who ultimately must ratify the agreement.
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SoftBank Pulls Plug on Plans to Invest in Chinese Tesla Rival
Japan’s SoftBank, which was in talks earlier this year to take a stake in Chinese electric-vehicle maker NIO, has decided not to invest in the Shanghai-based startup’s initial public offering.
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Campbell Soup Plans to Sell International Business and Fresh Unit
Campbell Soup plans to sell its international operations and refrigerated-foods business, abandoning efforts to become a more fresh food-oriented company and leaving the door open to a full sale.
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Starbucks' Frappuccino Gets a Sugar Makeover
Starbucks is putting its decadent Frappuccino on a diet, looking to reduce the popular drink’s high sugar levels.
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Vodafone Hutchison Australia and TPG Telecom to Merge
Telecommunications company TPG Telecom will merge with rival Vodafone Hutchison Australia in an effort to challenge the country’s two large operators.
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Wednesday, August 29, 2018
Papa John's Independent Board Members Dispute Founder's Claims
Board members at Papa John’s International are stepping up their fight against founder John Schnatter.
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Colorado Voters to Weigh Sharp Limits on Drilling
Colorado voters in November will consider banning oil and gas drilling within 2,500 feet of homes, businesses and many green spaces, a move that would effectively prohibit it in most of the state.
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Salesforce Revenue, Backlog Rise as New Leadership Structure Takes Shape
Salesforce.com Inc. reported broad-based sales growth and grew its backlog of business during its latest quarter, as the business-software company digests its largest-ever acquisition and begins work under a new leadership structure.
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California Moves to Mandate Female Board Directors
California legislators passed a bill that requires major companies based in the state to put female directors on their boards.
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Sales Soar 27% at American Eagle's Aerie, Still Short of Investors' Hopes
American Eagle Outfitters reported softer-than-expected sales growth in its highflying “every girl” brand, pushing the apparel and accessories retailer’s stock price down 8%.
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Jack Daniel's Maker Feels Sting of Higher Tariffs
Brown-Forman lowered its profit outlook because of the uncertainty and added costs created by recently enacted EU tariffs on U.S. whiskey.
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Dick's Says Under Armour, New Gun-Sales Policy Dragged on Results
Dick’s Sporting Goods said weaker sales of Under Armour apparel and a decision to pull back from the hunting business dragged on the retailer’s latest quarterly results.
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Canada Voices Optimism on Nafta Deal
As U.S.-Canada trade talks kick off in earnest, Foreign Minister Chrystia Freeland reveals that the two nations already reached an accord on autos.
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U.S. Corporate Profits Soared in Second Quarter
The Commerce Department measured a 16.1% year-over-year gain, the largest in six years. Profits were bolstered by large tax cuts and strong economic growth.
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Mexico Cites 'Insurance' Against U.S. National-Security Tariffs
Mexico and the U.S. have negotiated a side letter to the revamped North American Free Trade Agreement that would soften the blow of possible U.S. national-security tariffs the Trump administration is considering for auto imports, Mexican Economy Minister Ildefonso Guajardo said.
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International Trade Commission Blocks Proposed Newsprint Tariffs
The independent panel ruled that paper imports from Canada don’t injure U.S. producers, a victory for newspaper publishers that saw newsprint prices jump as much as 30% in the wake of the Commerce Department plan to impose the levies.
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China's Didi Vows to Step Up Security After Second Passenger Killing
Public safety has taken a back seat amid ride-hailing company Didi’s rapid expansion, founder Cheng Wei said in an apology following the killing of a female passenger.
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U.S. GDP Growth Revised Up in Second Quarter
Economic growth was stronger during the second quarter than earlier estimated, although growth in a key measure of U.S. corporate profits moderated from the first quarter.
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Ruling in Johnny Depp Suit Threatens Hollywood Lawyers' Handshake Culture
A California judge’s ruling in a case pitting Johnny Depp against his longtime lawyer is prompting a reassessment of the handshake-deal culture that is still pervasive in some corners of Hollywood.
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Naked and a Little Afraid: Testing the Body-Scanning Mirror
Naked Labs’ body scanner does a great job creating a 3-D model of your naked body, but just how far are we willing to let technology go? This product plots a 360-degree model of my body and calculates various body measurements.
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GM's Electric Dream in China Suddenly Looks Underpowered
General Motors’ plans to ramp up electric-vehicle production in China were set back after the auto maker determined the Chinese-made batteries it intended to use failed to meet its own performance and safety standards during testing.
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Clear Beer? Don't Judge a Drink by Its Color
Japanese beverage makers are increasingly producing products that look like water but taste like other drinks, betting that consumers want the taste of Coke or beer in a healthier-looking clear liquid. Flavored, bottled water sales have more than doubled in both the U.S. and Japan in the past five years.
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U.S. Workers Report Highest Job Satisfaction Since 2005
Worker contentment is at the highest level since 2005, according to a new report from The Conference Board, a business-research group.
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Middle-Class Kingdom: Made in Japan Is Now Big in China
Manufacturers in industries that had long been fleeing Japan say the country looks attractive again thanks to demand from consumers in China and other Asian markets, a sign of how the rise of the middle class is reshaping the region.
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Salesforce.com Earnings: What to Watch
Since Salesforce relies on subscriptions to its web-based, on-demand software used by business customers, investors look closely at billings to get insight into future results.
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In America's Hottest Drilling Spot, Vast Volumes of Gas Go Up in Smoke
Roughly $1 million worth of natural gas extracted in the Permian Basin goes to waste each day, as shale drillers end up having to burn a byproduct that they don't have enough pipeline or storage capacity to take to market.
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Biotech Analysts Set for Payday
Higher paydays come as the drug-development industry raises capital at a rapid clip and undergoes a surge in mergers.
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Aston Martin Revs Up IPO Plans
Aston Martin launched plans for a stock-market listing that could value the maker of the famed sports car driven by James Bond at around $6 billion.
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Trade Deal Threatens Mexico's Role as Car Hub
The Trump administration’s new trade deal with Mexico is likely to force some auto makers to rethink their strategy for many Mexican-built models, threatening the country’s role as a go-to producer of lower-priced cars for the U.S. market.
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A Chinese Tesla Rival Launches $1.3 Billion U.S. IPO
Chinese electric-vehicle maker NIO launched a U.S. stock sale that could raise up to $1.32 billion, moving to tap the public markets before generating any substantial revenue.
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HP Enterprise Names New Finance Chief
Hewlett Packard Enterprise named Tarek Robbiati, the former chief financial officer of Sprint, as its new finance chief.
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Tuesday, August 28, 2018
J.Crew Snaps 15-Quarter Sales Slump
J.Crew Group’s flagship brand ended a four-year slump, posting a slight gain in quarterly sales at its existing stores and websites that CEO James Brett called a “watershed moment.”
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Few Rivals Speak Out Against Sprint, T-Mobile Merger
If America’s tech and telecom giants have an opinion about the planned T-Mobile and Sprint merger, most are keeping it to themselves. Dish is one of the few large companies to take a stand.
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Transcript: WSJ Interview With Dallas Fed President Robert Kaplan
Dallas Fed President Robert Kaplan discussed his outlook on trade disputes, political pressure and the prospect of additional interest-rate increases this year in Jackson Hole.
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Former Barnes & Noble CEO Sues Company Over Firing
In a lawsuit former chief executive Demos Parneros accuses the bookseller of fabricating reasons to fire him about a month after a deal to sell the company fell apart.
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Tailored Brands CEO Doug Ewert Intends to Retire
The chief executive plans to retire from the men’s clothing retailer on Sept. 30. He became CEO in 2011.
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Senate Confirms Clarida as Fed Vice Chairman
The Senate voted Tuesday to confirm Columbia University economist Richard Clarida to become Federal Reserve vice chairman, filling a top leadership position ahead of the central bank’s September policy meeting.
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Trump Administration Launches Effort to Help Employers Comply With Labor Laws
The U.S. Labor Department said it is creating an office to better help companies comply with regulations before finding they have run afoul of labor laws, which policy watchers called a change in tone from an Obama-era emphasis on enforcement.
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Yum China Rejects Private Buyout Offer at $46 a Share
Yum China has rejected a private buyout offer from a consortium of investors that valued the restaurant operator at more than $17 billion.
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BuzzFeed Launches Product-Review Site
BuzzFeed plans to launch a product-review site akin to the New York Times-owned ‘Wirecutter,’ in a bid to generate more revenue from commerce.
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Aston Martin Expected to Sell Shares
The maker of the famed sports car favored by secret agent 007 is expected to announce as early as Wednesday plans for a stock-market listing that would value the company at more than $6 billion.
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Mobile Money Heats Up in India as Google Doubles Down
Alphabet Inc.’s Google is raising its mobile-payments game in India with new functions and services as global players race to woo the nation’s legions of consumers who are skipping credit cards and transacting on smartphones instead.
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Mnuchin Hopeful Trade Deal With Canada Will Get Done
Treasury Secretary Steven Mnuchin said he is hopeful the U.S. will reach a new trade agreement with Canada but said the administration is prepared to move ahead with a bilateral deal with Mexico to rewrite portions of Nafta.
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U.S. Trade Deficit in Goods Widened to $72.2 Billion in July
A preliminary report showed the deficit widened last month to $72.2 billion from $67.9 billion in June. The gap had narrowed slightly from February to May but now appears to have widened two months in a row.
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U.S. Home Price Gains Decelerate
Home price gains slowed in June, indicating that rising mortgage rates and growing affordability challenges are finally beginning to slow price gains.
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Yahoo, Bucking Industry, Scans Emails for Data to Sell Advertisers
The Web giant owned by Verizon analyzes more than 200 million inboxes for clues about what products people might buy—a practice much of Silicon Valley has declared off-limits.
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Quartz Launches Paid Cryptocurrency Newsletter
Quartz is the latest media company attempting to cash in on the growing enthusiasm for cryptocurrency, and is launching a paid newsletter that aims to guide its subscribers through the often turbulent markets for virtual currencies.
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U.S. Consumer Confidence Surged in August
A measure of economic confidence among American households rose in August to its highest level since October 2000.
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Trump Accuses Google of Suppressing Positive News About His Presidency
The president on Tuesday morning accused the search engine of elevating critical stories about him, saying that it is a “very serious situation” that will be addressed.
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Tiffany Sells More Blue Boxes as Affluent Buyers Splurge
Tiffany & Co. reported soaring profit and sales in its latest quarter, underscoring the willingness of well-heeled shoppers to flex their spending muscle with luxury brands.
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Best Buy Raises Outlook as Earnings Beat Estimates
Best Buy’s same-store sales and revenue rose in the latest quarter, prompting the electronics retailer to raise its full-year sales and earnings guidance.
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Highflying Chip Stocks Have Their Mojo Back
A scorching run by two of the best-performing stocks in recent years is turning heads.
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Dull Skin? Restless Sleep? There's a Drink for That
Money is pouring into developing beverages that claim to do much more than quench thirst. Conglomerates and startups alike are placing bets on “enhanced” drinks that promise everything from better sleep to a more youthful complexion.
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Liquid Diet: My Day of Drinks
I spent a day testing the latest in beverage technology. I subsisted primarily on drinks that claimed they would wake me up, improve my focus and help me sleep at night.
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In Tight Labor Market, Inmates Learn to Code
Former inmates are typically among the last groups on the sidelines of the jobs market. In Indiana, a pilot program teaches women in prison how to write computer code, aiming to help them find work and stay out of prison once they are released.
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Saudi Aramco, a Wellspring of Oil, Wants to Become a Fount of Ideas
Saudi Arabia’s state oil company Aramco is working to turn itself into an innovation powerhouse while its much-delayed plans for an IPO remain on hold.
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Trump Organization CFO's Immunity Deal Shows Value of Finance Chief
Prosecutors granting Allen Weisselberg immunity after he testified before a grand jury in the investigation on President Trump’s former lawyer, underscores the critical role accountants and CFOs play in criminal prosecutions.
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No Longer on the Ropes, WWE Has More Upside
World Wrestling Entertainment shares have surged over optimism about a new content deal. Spectacular reversals have happened before, but the shares aren’t particularly expensive on future earnings.
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Global Car Sales Hit Speed Bump
After nearly a decade of growth, new-vehicle sales in the world’s largest auto markets are entering their first sustained slowdown since the global financial crisis as uncertainty around the U.S.’s trade policies looms.
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U.S. Companies Begin to Chip Away at Mountain of Debt
U.S. companies have been scaling back borrowing while posting improved earnings, marking some tentative signs of progress amid concerns about their elevated debt levels.
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Monday, August 27, 2018
Kudlow Says Auto Tariffs on Canada Possible If No Trade Deal Reached
The U.S. could use tariffs on automobiles from Canada if the two countries don’t reach a new trade agreement, National Economic Council Director Lawrence Kudlow said, echoing President Trump’s earlier remarks.
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Mexico Pact Eases Car Makers' Concerns
President Trump’s new free trade pact with Mexico helps provide some clarity for auto makers and parts suppliers bracing for the worst.
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FAO Schwarz Is Returning to New York
A dominant presence in Midtown Manhattan for decades before its closure in 2015, the toy store is coming to life again with a new, 20,000-square-foot Rockefeller Center location.
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Pai Showed Sinclair No Favoritism, FCC Watchdog Finds
Federal Communications Commission regulators displayed no favoritism toward Sinclair Broadcasting Group Inc. while retooling media-ownership rules, according to a new report from the agency’s inspector general.
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Tesla's Challenges Are Back in Spotlight
Now that Elon Musk has squashed efforts to take Tesla private, the spotlight will turn back to its operational challenges, namely whether it can maintain its grueling Model 3 production pace and generate cash to stave off fundraising.
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Netflix Hires Facebook Exec To Lead Communications Efforts
Netflix Inc. has named a new communications chief, announcing the hire about two months after the previous executive was fired for using a racial slur in conversations at work.
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Toyota Investing $500 Million in Uber in Driverless-Car Pact
Toyota is set to invest about $500 million in Uber as part of an agreement by the two companies to work jointly on driverless-vehicle development.
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BuzzFeed News Asks Readers to Chip In With Donations
Digital-media company allows readers to donate between $5 and $100 to help pay for cost of newsroom; could be prelude to membership model
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Craft-Beer Company Taps Streaming Service for Growth
Scottish beer company BrewDog is offering a streaming service featuring more than 100 hours of video centered on drinking culture, the latest effort by a brand to launch its own media venture.
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Shooting at Videogame Event Puts Focus on Security
The heads of professional videogame teams said they would evaluate security procedures after a mass shooting at a competition in Jacksonville, Fla., on Sunday.
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Report on VW's Changes Since Scandal Cites Lack of Transparency
Nearly three years since U.S. authorities charged Volkswagen for cheating on emissions tests, VW is only starting to implement changes needed to prevent another scandal, according to a report.
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Weyerhaeuser Announces Retirement of CEO Doyle Simons
Weyerhaeuser said Chief Executive Doyle Simons intends to retire and that its board has chosen Devin Stockfish, now senior vice president of timberlands, to take over in 2019.
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U.S. to Pay Farmers Up to $4.7 Billion to Offset Trade-Conflict Losses
The Agriculture Department says it will pay U.S. farmers up to $4.7 billion to offset losses due to international trade conflicts.
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SF Fed: Yield Curve Suggests Rising, But Still Low, Risk Of Recession
The bond market is signaling that the risk of recession is rising but a downturn is far from imminent, new research by the Federal Reserve Bank of San Francisco released Monday said.
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It Is Getting Harder for U.S. Economy to Impress Investors
The U.S. is struggling to meet economists’ expectations even as its economy grows at its quickest pace in years—a potential challenge to investors who have been flocking to the region for months.
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U.S.-Mexico Deal Clears Pathway for Nafta Rewrite
President Trump announced the U.S. had reached a deal with Mexico on issues that have held up renegotiation of the North American Free Trade Agreement for over a year. He also proposed getting rid of the name Nafta, saying it had bad connotations.
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Mexico's Trade Deficit Nearly Doubles in July
Mexico’s trade deficit nearly doubled in July from a year earlier as growth in imports outpaced that of exports, led by a big increase in purchases of petroleum products from abroad.
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Bad News for U.S. Papers, but Tariffs Are Paying Off for One Rock Capital
When the Trump administration applied tariffs on imports of newsprint, the Canadian government, the U.S. newspaper industry and others loudly complained. Private-equity firm One Rock Capital Partners rejoiced.
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Chicago Fed National Activity Index Fell in July
The Chicago Fed National Activity Index fell in July, as the pace of growth from production-related indicators slowed.
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J.Crew's New CEO Rolls Out Strategy
CEO James Brett’s plan is to expand J.Crew’s assortment with more entry-level prices, as well as plus sizes and more fit options.
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Facing an Uncertain Road in U.S., Japan's Auto Makers Look to China
Nissan Motor said it has started producing its first made-for-China electric car, leading a wave of electric vehicles planned by Japanese makers looking to boost sales in the country.
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Airlines Cash In on Loyalty Credit Cards
Airlines are inundating customers with credit-card offers, hoping to widen a lucrative and steady revenue stream as they rely more on income beyond fares.
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'It's the Fizz': How Seltzer Is Upending Coffee and Beer
Sparkling water sales are soaring in the U.S. as consumers ditch soda for healthier, more natural beverages. And with that explosion has come a wave of variants: caffeinated and alcoholic versions, sparkling coconut water and coffee, even seltzer laced with cannabis.
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Play Call for Papa John's: Go Long
Papa John’s stock has been hammered by remarks from founder John Schnatter. But the pizza chain’s efforts to distance itself from him should stabilize the business.
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In-house Agencies on Rise As Advertisers Seek Services Closer to Home
Advertisers with in-house agencies increased to 64% from 42% ten years ago, according to a new study from an in-house agency trade association
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Sunday, August 26, 2018
U.S., Mexico Nearer to Resolving Issues Holding Up Nafta Talks
Mexico’s trade negotiators said Sunday they would do whatever necessary, including working into the night, to reach an agreement with the U.S. that would then allow the return of Canada to the talks.
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Public Bravado, Private Doubts: How Elon Musk's Tesla Plan Unraveled
As his team hustled to put form to his idea, lining up investors willing to put up tens of billions of dollars. Mr. Musk was having second thoughts.
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Natural Grocers Shrug Off Amazon-Whole Foods Threat
Sales at Sprouts Farmers Market, Natural Grocers and hundreds of other health-food retailers are up both in terms of dollar and unit sales a year after Amazon’s $13.7 billion takeover of Whole Foods.
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Trump's Stances Weaken Support for U.S. to Lead Global Banking Body
President Trump’s antagonistic posture towards international institutions at foreign summits this summer soured some European officials on the candidacy of a top Fed official to helm the international Financial Stability Board.
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Global Economy Week Ahead: U.S. GDP Revisions and Other Data
In the week ahead, the U.S. Commerce Department releases second-quarter gross domestic product revisions and July personal-income figures. Overseas, Brazil will see second-quarter gross domestic product data and China will release factory-activity numbers.
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Trump's Trade Policies Raise Alarms at Fed's Jackson Hole Retreat
Without mentioning President Trump by name, central bankers at the Federal Reserve’s annual retreat in Jackson Hole made clear they were concerned about his trade policy.
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Signs of a Strong Economy: Hedges Are Overgrown and Lawns Need Mowing
Low levels of unemployment and high demand for H-2B visas mean there aren’t enough people working in landscaping this summer.
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Regional Banks Still Need a Lending Boost
A promising rebound in loan growth now appears to be fading. That could become an issue, especially for small and midsize lenders.
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The $4.7 Billion Nuclear Bill That No One Wants to Pay
The owner of two partially built nuclear reactors in South Carolina walked away from the project last year because of high costs and delays. Now no one wants to pay for it.
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Beyond Soda: How and Why Your Beverage Options Are Exploding
A proliferation of beverages that don’t fit within traditional drink categories is creating a headache for retailers, confusion for shoppers and a challenge for manufacturers that are trying to keep pace with changing consumer tastes.
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Home Security Systems That Are Fast, Easy and Totally Not Creepy
Nest, Ring, Simplisafe and SmartThings are useful home-security tools with no professional installation or long-term contract required—and no camera spying on you 24/7.
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EpiPen Shortage Hits Back-to-School Season
Parents are scrambling to find pharmacies carrying EpiPens for the new school year, as regulators and manufacturers move to address a continuing shortage of the lifesaving devices.
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Saturday, August 25, 2018
The Other Amazon Effect: How Prices Have Become Less Insulated From Supply Shocks
Increased online competition has made retailers faster to adjust prices and more likely to hold prices constant across geographic locations, according to new research presented at the Fed’s Jackson Hole conference.
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How to Make Sense of President Trump's Call for Zero Tariffs
President Trump has praised tariffs, and he has also declared, “No tariffs, no barriers. That’s the way it should be.” Bob Davis looks at whether that no-tariff objective is serious.
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U.S., Mexico Close to Resolving Issues Blocking Nafta Talks
The U.S. and Mexico are close to reaching a bilateral agreement on key issues holding back a renegotiation of Nafta, removing a hurdle to completing a deal that would eventually include Canada.
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Top Central Banker Decries U.S. Trade Measures
Dialing back globalization would undermine decades of economic progress around the world, AgustÃn Carstens, head of the Bank for International Settlements, said at the Jackson Hole symposium for the world’s central bankers.
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America Has Fallen Out of Love With the Sedan
Long a symbol of the American open road, the classic sedan is fading in the rearview mirror as millions of drivers migrate to sport-utility vehicles, prompting auto makers to rework their lineups. One cause is the shifting relationship between people and their automobiles.
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Inside the Factory of China's Future
Chinese machinery maker Sany is embracing technology to build a reputation for innovation and quality rather than for lower prices for copycat products, a move that comes amid Beijing’s effort to upgrade its corporate champions.
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Elon Musk Says Tesla Will Remain a Public Company
Tesla CEO Elon Musk said he is giving up on taking the company private in the wake of shareholders’ objections, 17 days after he shocked the business world with a tweet announcing intentions to pursue the idea.
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Friday, August 24, 2018
PG&E Identified as Utility That Lost Control of Confidential Information
PG&E was identified as the utility that authorities had fined in May for losing control of a database with confidential information about its systems and leaving it exposed on the internet for 70 days.
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Defense Companies Run Space Race
Defense and aerospace companies are accelerating plans to develop new types of missiles and satellites in an effort to capitalize on President Trump’s proposed military branch devoted to space warfare.
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Papa John's Mandates Diversity Training as Founder Continues Push for Control
Papa John’s is mandating diversity training for its staff as founder John Schnatter pushes to regain control of the pizza company that executives say was destabilized by his divisive behavior.
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Shareholders Approve Cigna-Express Scripts Deal
Cigna and Express Scripts shareholders overwhelmingly supported Cigna’s $54 billion purchase of the pharmacy-benefit manager, a deal that activist investor Carl Icahn initially sought to block.
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Rising Metals Prices Show Little Sign of Substantially Boosting U.S. Production
Tariffs on steel and aluminum are driving up the value of shipments of metals being produced domestically, but they have little effect on the quantity being churned out.
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The Race to Build a Wind Behemoth
From General Electric to Siemens, industrial giants are racing to build turbines as big as skyscrapers and more powerful than any that exist today. The potential prize in this engineering derby? Dominance over a multibillion-dollar offshore wind market that is set to boom in coming decades.
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How 'Intangible Capital' Explains Rising Corporate Concentration, Weak Investment
The rise of “intangible capital” such as software, patents, intellectual property and innovative business processes explains much of the weakness in private capital investment since 2000, according to new research presented at the Jackson Hole economic symposium.
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Enbridge to Buy Rest of Spectra Energy for $3.3 Billion
Oil and gas pipeline operator Enbridge has agreed to buy the rest of Spectra Energy Partners for about $3.3 billion in stock.
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Airplane Noise Complaints Are Skyrocketing: 'I Start Pushing That Button at 6:33 a.m.'
A new invention allows people to register their annoyance with an inexpensive gizmo, swamping airport systems; power users in San Diego
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Lloyd's of London Reviews Marine Insurance Market as Losses Mount
Lloyd’s of London, which controls about a fifth of the global marine insurance market, is reviewing a number of loss-making members of its marine unit, a move that could drive up costs for insuring the world’s ocean carriers.
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Fed's Powell Defends Pace of Rate Hikes to Avert Overheating
Federal Reserve Chairman Jerome Powell defended the strategy of gradually raising interest rates, pushing back against criticisms that the central bank is moving either too quickly or too slowly, jeopardizing the economy’s expansion.
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Fed's Mester Says Gradual Rate Increases Still Best Path
Federal Reserve Bank of Cleveland President Loretta Mester said the economy’s solid performance justifies further gradual interest-rate increases.
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Fed Signals Unease About Drop in Unemployment
New research from the Federal Reserve warns against placing too little attention on an unemployment rate that falls below levels regarded as likely to maintain stable inflation.
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U.S. Durable-Goods Orders Fell 1.7% in July
Demand for long-lasting goods produced by U.S. factories fell in July because of a decline in aircraft sales, but underlying demand grew modestly.
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More People Are Buying Pet Insurance
As veterinary bills add up, more pet owners are opting for insurance, which for the first time last year grossed $1 billion in annual premiums.
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How Two Musk Decisions in 2016 Put Tesla Into Trouble
At the start of 2016, the stock market was tumbling. Shares of Tesla were down and shares of Elon Musk’s other public company, SolarCity, were down even more. His solutions—hyping the Model 3 and merging SolarCity into Tesla—have pressured the car maker.
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Under Trump, Consumer Safety Agency Aims to Boost Cooperation With Business
The agency charged with protecting U.S. consumers from dangerous products has changed tack under President Trump, curtailing certain regulatory practices. Ann Marie Buerkle, acting chairwoman of the Consumer Product Safety Commission since February 2017, has toned down what businesses describe as the confrontational approach of her Democratic predecessor.
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CEO of National Enquirer Publisher Granted Immunity in Cohen Case
Federal prosecutors granted immunity to David Pecker, CEO of the company that publishes the National Enquirer and a longtime friend of President Trump, in the Michael Cohen investigation.
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Microsoft Hit With U.S. Bribery Probe Over Deals in Hungary
Microsoft is being investigated by U.S. Justice Department and the Securities and Exchange Commission over potential bribery and corruption related to software sales in Hungary.
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Waymo, Alphabet's Self-Driving Unit, Steers Into China
Waymo is setting up shop in Shanghai, giving parent company Alphabet a foothold in China as it considers rebooting its Google search engine behind the Great Firewall.
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Tesla's Factory Complex Hit by Scrap Fire, Escapes Major Damage
A fire on the grounds of Tesla’s car factory in California on Thursday burned a scrap pile and sent plumes of smoke into the sky but was extinguished before it could cause major damage.
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Gap Reports Sales Decline at Flagship Brand
Gap’s struggles to revive its flagship brand continued in the latest quarter as declining sales muted gains at the retailer’s other units.
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Ticketing Platform Eventbrite Continues IPO Plans
Eventbrite Inc., which provides ticketing and other services for events “from pop-up dinners to the world’s largest festivals,” is moving ahead with plans to trade on public markets.
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Thursday, August 23, 2018
Central Bankers' Jackson Hole Gathering: a Cheat Sheet
The Federal Reserve Bank of Kansas City’s annual economic retreat begins Thursday evening and runs through Saturday at its traditional venue, the Jackson Lake Lodge. Here’s what to expect.
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U.S.-China Trade Talks End With No Sign of Progress
Trade talks between the U.S. and China failed to produce any visible sign of progress, reducing the prospects of a deal soon, people closely tracking the talks said.
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Argentina's Economy Contracted 6.7% in June From Year Earlier
Argentina’s economy contracted 6.7% in June from the year-earlier period, the third consecutive month of decline, the government said.
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Treasury Moves to Block Path Around Cap on State Tax Deductions
The Treasury Department moved to block attempts by New York, New Jersey and Connecticut to let taxpayers circumvent the new $10,000 cap on state and local tax deductions.
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Google Terminates YouTube Accounts Linked to Iran
Alphabet’s Google said it had terminated dozens of YouTube channels found to be pushing misinformation on behalf of Iran’s state broadcasting arm.
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Victoria's Secret Misses Out on Retail Surge
The lingerie brand reported lower comparable sales for the latest quarter, dragging down results at its parent company, L Brands.
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As Central Bankers Meet, Economic Uncertainties Weigh on Outlook
The formal discussion at this week’s Fed retreat with global central bankers will be about the impact of monopolies, but new economic uncertainties are sure to dominate chats over cocktails and mountain hikes.
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What to Watch for at Fed's Jackson Hole Symposium
The big question at the Fed’s annual retreat, which begins Thursday, is whether Chairman Jerome Powell will provide more clues about the central bank’s rate-setting path.
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Mexico's Guajardo Plays Down Chances of Quick Nafta Deal
Economy minister Ildefonso Guajardo played down the chances of Mexico and the U.S. reaching a preliminary trade deal Thursday, saying it’s “better to have a good agreement than a fast agreement.”
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China, U.S. Fire Off New Tariffs in Middle of Trade Talks
China and the U.S. launched a fresh round of tariffs on $16 billion in each other’s goods, even as officials from both governments sat down for negotiations to resolve their monthslong trade fight.
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U.S. New Home Sales Fell in July
Sales of new homes in the U.S. fell for the second straight month in July after a stark drop in June.
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Sears Closing More Stores
Sears Holdings plans to close 46 more Kmart and Sears locations, further downsizing its bricks-and-mortar imprint nationwide.
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Who Killed Toys 'R' Us? Hint: It Wasn't Only Amazon
A small group of hedge funds decided the ailing Toys ‘R’ Us was worth more dead than alive. That turned a frantic restructuring effort into a going-out-of-business sale, a sign of debtholders’ increasing power in bankruptcy court.
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Honeywell Spinoffs Give Investors Early Look at Operations
Honeywell International is moving ahead with plans to break up the company, with spinoffs Resideo Technologies and Garrett Motion filing registration documents with the SEC..
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Fed's George Calls for More Rate Increases
Federal Reserve Bank of Kansas City leader Esther George reaffirmed her support for more interest rate increases this year.
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U.S. Jobless Claims Fall for Third Consecutive Week
The number of Americans filing applications for new unemployment benefits fell last week for the third straight week, continuing to hover near historic lows.
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Saudi Arabia Denies Aramco IPO Is Canceled
Saudi Arabia said it remained committed to publicly listing Aramco, its national oil company, at some point in the future, dismissing reports that the centerpiece of the country’s economic transformation had been canceled.
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Hormel Foods Trims Sales Outlook on Higher Supplies, Tariffs
Hormel Foods, the owner of Jennie-O, Skippy, and Spam brands, cut its sales outlook as the food company faces increasing supplies of meat products and pressure from tariffs levied by major importing countries.
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Alibaba Earnings Slump on One-Time Charge
Chinese e-commerce titan Alibaba said fiscal first-quarter earnings fell 41%, driven by a one-off stock compensation charge from the revaluation of its financial-services affiliate.
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Coca-Cola Launched 500 Drinks Last Year. Most Don't Taste Like Coke.
CEO James Quincey is pushing the soda giant’s global subsidiaries to develop more local flavors in pursuit of growth. Enter chunky mango and a laxative Sprite.
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Facebook Bans Quiz App That Captured Data of Four Million Users
Facebook Inc. on Wednesday banned from its platform a quiz app that could have exposed the data of up to four million users, after the developers declined to be audited by the social-media giant.
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Britain Ramps Up Preparations for No-Deal Brexit
The U.K. government published advice for British businesses on how to prepare for an abrupt break with the EU, a move aimed at underscoring to Brussels that it is serious about walking away from talks if it doesn’t get a satisfactory deal.
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Kroger to Ditch Plastic Bags by 2025
Kroger plans to eliminate plastic shopping bags from its supermarkets, the latest retailer to address customer backlash against disposable packaging and utensils.
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Cannabis Supply Chains Coming Out of the Shadows
A nascent network of distributors is sprouting in California, taking marijuana business “from backpack to briefcase” in a potential model for national supply chains.
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Car Dealers Struggle to Recruit Younger Workers
Car dealerships are facing a roadblock: convincing workers in their 20s and 30s to work and stay in an auto retail business defined by long shifts, weekends on the selling floor, haggling and commission-based pay.
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Saudi Aramco Could Still Sell a Stake---to China
A juicy IPO of the world’s biggest oil company looks increasingly unlikely soon. That doesn’t mean there won’t be another chance for Aramco to sell a piece of itself.
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At Target, Good News Isn't Over Yet
Target’s second-quarter success is partly due to a strong consumer economy But it is also a sign that the company’s $7 billion investment to revamp its business is paying off.
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Taking Cue From the U.S., Australia Bans Huawei From 5G Network
Australia banned Chinese telecom firms Huawei and ZTE from its next-generation 5G mobile network, aligning it with U.S. policy on the matter and underscoring concerns about the possibility of cyberspying by Beijing.
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Wednesday, August 22, 2018
$50 Million Deal Brings Millennium Sapphire Out of Hiding
Yulong Eco-Materials, a Chinese producer of fly-ash bricks, said it has agreed to acquire the carved gem for $50 million in restricted stock, with plans to display it after over a decade out of public view.
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Adviser to Bernanke, Yellen Will Reprise Role for Powell
Jon Faust, who served as a senior adviser to former Federal Reserve chiefs Janet Yellen and Ben Bernanke, has taken on a similar full-time role for Fed Chairman Jerome Powell, according to people familiar with the matter.
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Facebook to Remove Data-Security App From Apple Store
Facebook plans to pull its data-security app Onavo from Apple Inc.’s app store after the iPhone maker ruled that the service violated its data-collection policies
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'Big Bang Theory' to End in May
The CBS hit “The Big Bang Theory,” the most-watched comedy on television, is coming to an end next May after 12 seasons and 279 episodes.
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Venezuelans Skeptical of Maduro's New Measures to Salvage Economy
People in Venezuela’s capital expressed uncertainty about an economic overhaul by President Nicolás Maduro’s leftist government that introduces a new, highly devalued currency and a raft of other confounding measures.
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U.S. Seizes on China's Woes as Talks Start
The U.S. and China kicked off two days of talks in Washington aimed at settling an escalating trade battle, with the U.S. claiming the advantage because Beijing is struggling to keep its economic growth from faltering.
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Fed Signals Rate Increase Next Month
Federal Reserve officials at their last meeting signaled they were likely to raise interest rates next month and discussed in greater detail their concerns over how prolonged trade disputes could disrupt economic growth.
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Nafta Talks Near Accord on Key Points, Mexican Official Says
U.S. and Mexican officials are close to resolving some of the sticking points that have stalled negotiations to overhaul the Nafta, Mexico’s chief trade negotiator said.
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Treasury Readies Its Punch Back at Workarounds on Tax Deduction Cap
The Trump administration is finishing what’s expected to be a crackdown on state laws circumventing the new $10,000 federal cap on individual deductions for state and local taxes.
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How Women Can Cope With Mistreatment From Female Colleagues
Women are 14% to 21% more likely than men to report experiencing uncivil treatment from female co-workers, according to a recent study. There are ways to cope with that undermining behavior.
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Alibaba Earnings: What to Watch
China’s Alibaba will report first-quarter earnings before the U.S. market opens Thursday. Watch out for guidance on future investments and how they may affect margins, as the e-commerce titan extends its spending spree.
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Sorry, Pal, I Don't Want to Talk: The Other Reason People Wear AirPods
Apple’s white wireless earphones transmit music and conversations, but some users wear them all day as a shield, a secretary and a hiding place.
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For U.S. to Stay in WTO, China May Have to Leave
The intensifying trade fight between the U.S. and China didn’t come out of the blue, but President Trump’s unilateral tariffs risk a Pyrrhic victory that damages global trading rules. There may be a more effective solution.
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$300 Million for an Aging Tennis Star? Roger Federer Is Worth It, Uniqlo Says
Weeks after it signed Roger Federer to a $300 million endorsement deal, Uniqlo is explaining why a company not known for sports attire is making such a big commitment to a tennis player in the twilight of his career.
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Continental Shares Plunge After Second Profit Warning in a Year
Continental’s shares fell nearly 15% after the auto supplier issued a fresh profit warning, blaming softer demand for cars in Europe and China as well as higher costs.
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Existing Home Sales Fall
Sales of previously owned homes in the U.S. declined for a fourth straight month in July, as rising prices and limited inventory of affordable housing continued to sideline buyers despite solid economic growth.
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Fed Minutes Offer Glimpse of Outlook for Second Half
The Federal Reserve releases the minutes of its July 31-Aug. 1 meeting on Wednesday, which could provide clues on how central bank officials judge potential risks to the economy.
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The Promotion That Comes Without the Raise
More employers are handing out new job titles with extra responsibility but no bump in salary. Here’s how to respond to that kind of offer.
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Digital Lock Startup Raises $70 Million Behind Push From Homebuilder
Companies that manufacture smart locks—which can be opened with a cell phone app or code and sometimes include cameras and intercoms—are battling to edge out traditional locks.
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Lowe's to Close Orchard Supply Stores, Hires CVS Finance Chief
Lowe’s is shedding a small home-improvement chain and has recruited CVS Health’s chief financial officer as the company looks to become more competitive.
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KKR In Talks to Buy Fiat Chrysler's Magneti Marelli Autoparts Unit
U.S. buyout firm KKR & Co. is in talks to acquire Fiat Chrysler Automobiles’ global auto parts business Magneti Marelli.
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Brushers Are Buying Sensodyne's Pitch
Sensodyne, a 60-year-old brand that long occupied a specialized niche of the dental-care world, has cut into Crest’s and Colgate’s lead in the U.S. market, capitalizing on shoppers’ growing preference for toothpastes that do more than clean.
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Xiaomi Swings to Profit on Strong Smartphone Sales
Chinese smartphone maker Xiaomi swung to a profit in the second quarter as smartphone sales rose sharply, but the results were weighed down by a big bonus payment for its chief executive.
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Santos to Buy Brookfield-Backed Quadrant for $2.15 Billion
Santos Ltd. said it would buy Quadrant Energy, the natural-gas company whose owners include Brookfield Business Partners, for US$2.15 billion as it seeks to expand its Australian gas business.
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Target's Sales Growth Highest in More Than a Decade
Target said same-store sales rose at the fastest rate in more than a decade, buoyed by efforts to improve locations and e-commerce capabilities as well as a booming economy.
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The Next Big Bet in Fracking: Water
Fledgling companies, many backed by private equity, are rushing to help shale drillers deal with one of their trickiest problems: what to do with the vast volumes of wastewater that are a byproduct of fracking wells.
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Tuesday, August 21, 2018
Facebook Pulls Hundreds of Fake Accounts
Facebook Inc. dismantled a new set of influence campaigns originating in Russia and Iran designed to sow division in global politics, part of the social-media company’s broader purge of bad actors on its site.
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Uber's CFO Pick Gives Strength to Executive Team Ahead of IPO
Uber Technologies picked a finance chief who is well-versed in the IPO process, strengthening and stabilizing the company’s executive team as it prepares for an initial public offering.
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La-Z-Boy Reports Jump in Sales
La-Z-Boy Inc. reported better-than-expected sales for its recently completed quarter, helped in part by price increases.
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Stocks Set to Enter Longest Bull Market as S&P Hits Record
U.S. stocks are on the verge of surpassing their longest-running rally, ratifying a rebound that began in the ashes of the financial crisis.
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Mexico's President-Elect Balks at Including Energy in New NAFTA
A split has emerged among Mexico’s incoming and outgoing administrations over how to handle the subject of energy in ongoing talks to revamp the North American Free Trade Agreement.
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Benchmark Capital Stays Lean, Even After $14 Billion Bonanza
In an era when venture-capital firms are raising megafunds in the billions of dollars, Benchmark Capital—one of the best-performing investors—is resisting the temptation to go big.
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Treasury Sanctions Russian Firms for Allegedly Helping North Korea
The Trump administration levied new sanctions against Russian firms it accused of violating trade bans on North Korea and breaches of U.S. laws against cooperation with Russia’s intelligence services.
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What Does Knee Surgery Cost? Few Know, and That's a Problem
The price we pay for health care often has little connection to what it actually costs. One hospital decided to investigate by studying its knee-replacement operations. Over 18 months, an efficiency expert trailed doctors and nurses to record every minute of activity, and the result was significantly lower than the list price.
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American Airlines Pares International Flights
American Airlines is cutting some unprofitable international flights after fuel prices rose. Service to Shanghai, Munich and Toronto will be affected.
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Coty Feels Strain of $12 Billion Bet on P&G Beauty Business
Nearly two years after Coty paid $12 billion to acquire Procter & Gamble’s beauty business, the deal remains a drag on the struggling beauty giant. Weak performance of former P&G brands, including names like CoverGirl makeup and Clairol hair dye, drove down sales in the most recent quarter.
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Uber Fills CFO Job, Vacant Since 2015
Ride-hailing giant Uber named Nelson Chai as its first chief financial officer in more than three years, tapping a veteran banking and insurance executive as next year’s planned IPO looms.
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Fed's Kaplan Still Favors Gradual Path of Rate Increases
Federal Reserve Bank of Dallas President Robert Kaplan said in an essay published Tuesday that he would like the central bank to press forward with rate increases amid a very strong job market.
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Smucker Needs to Fix Peanut Butter and Jelly
Food company Smucker has made smart moves to adjust its portfolio, but without boosting its core brands the stock will keep struggling.
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Toll Brothers Profit Jumps as Deliveries Rise
Toll Brothers’s profit rose 30% in its latest quarter as the luxury home builder reported strong growth in deliveries and continued to reach deals with customers at a rapid clip
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Cat Fight:Cheetos Maker Pepsi Challenges Orange Snack Rival
PepsiCo’s Frito-Lay division, which makes Cheetos, has accused a new competitor called Peatos, a skinny orange snack made of peas and lentils, of trademark violations.
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Airline Stocks Start to Take Off
Shares of airline operators are no longer in free fall, getting a boost as company projections for the number of passenger seats that are offered have come down.
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Slack Takes Wraps Off $7.1 Billion Valuation Deal
Slack Technologies has raised a new mega-round of financing that values the company at more than $7.1 billion.
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The Top Reader Advice for Surviving Extra-Long Flights
Journal readers share their tricks for getting through marathon nonstop trips.
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Trump Auto Tariff Timetable Likely to Slip
The Trump administration is pushing back its timetable for completing a controversial investigation into whether to impose tariffs on auto imports, as officials try to negotiate agreements with some of the world’s largest car exporters.
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Russian Hackers Target Conservative Groups in Widening Cyberattacks
Russian hackers linked to the 2016 election cyberattacks on the Democratic Party are widening their targeting for the coming midterms to include the U.S. Senate and well-connected conservative groups, according to new research from Microsoft Corp.
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Kohl's Posts Increase in Sales
Kohl’s posted improved sales results during the second quarter amid a wave of robust consumer spending that has buoyed many retailers.
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BHP Is Mining a Rich Seam for Now
After a shaky few years the world’s biggest miner is back on track, with profits up and dividends surging.
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The Crowded Market for Luxury Tech
Online luxury retailer Farfetch isn’t as unique as the first draft of its IPO prospectus would have investors believe.
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New Fiat Chrysler CEO's Big Challenge: Fixing the European Business
Fiat Chrysler CEO Mike Manley’s predecessor built a reputation as a turnaround specialist but left unresolved the future of FCA’s legacy business in Europe.
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BHP Posts Higher Profit and Dividend
BHP Billiton Ltd. said fiscal-year net profit fell 37% because of one-time charges, but the world’s biggest miner by market value recorded a 33% rise in underlying profit and a record final dividend.
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Broadway Ticket Sales Sizzle This Summer
Less than three full months into the new season, grosses for Broadway shows have climbed by around $62 million, or 16%, compared with the 2017-18 season.
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Monday, August 20, 2018
Stolen Horizon Air Plane Believed Deliberately Crashed
Federal investigators have tentatively determined the ground-services worker who stole an empty Horizon Air turboprop this month ended up crashing the airliner in a suicidal dive, according to people familiar with the probe.
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Hertz Nabs CFO From Nielsen
Car-rental giant Hertz Global Holdings named Jamere Jackson, the former finance chief of Nielsen Holdings, to lead its finance team.
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EPA Head Signs Proposal to Undo Restrictions on Coal Plants
The EPA moved to overturn Obama-era environmental rules on power-plant emissions, a long-telegraphed move designed to help coal-burning plants compete with natural gas and other cleaner alternatives.
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U.S. Moves Toward New Tariffs on China Despite Trade Talks
The Trump administration is moving closer this week to levying tariffs on nearly half of Chinese imports despite broad opposition from U.S. business and the start of a fresh round of bilateral talks.
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Some Tesla Suppliers Fret About Getting Paid
Tesla’s tumultuous year has fueled concern among some of its suppliers about the auto maker’s financial strength after production of the Model 3 car drained some of its cash.
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Total Struggles to Exit Project in Iran
Total SA is having difficulty unloading its stake in a $5 billion natural-gas project in Iran to a Chinese partner, after stopping work on the project earlier this year due to U.S. sanctions.
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Online Luxury Retailer Farfetch Files IPO Plans
Online luxury retailer Farfetch filed plans for an initial public offering, looking to seize on investor optimism about the surge in high-end goods sold over the internet.
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Estée Lauder Posts Robust Sales Growth
Sales at Estée Lauder jumped in the latest quarter due to growing demand for high-end skin-care products and increased business at travel outlets in airports, providing a rare spot of robust growth in the stagnating consumer-products industry.
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Fed Research Director David Wilcox to Retire at Year's End
The Federal Reserve board said its head economist will retire at the end of 2018, in what would be the most significant change in a senior staff position since Chairman Jerome Powell took office in February.
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Greece's Bailout Ends, but Austerity and Anger Prevail
Athens and the EU hail the end of the bailout as a historic day when Greece recovers its national freedom, but many Greeks find it hard to believe that this truly is the end of an era.
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Trump Complained About Fed Rate Increases at Fundraiser
President Trump, speaking at a fundraising event on Friday, said he was unhappy with the Federal Reserve’s recent moves to raise interest rates, people in attendance said.
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Too Many Bosses Means Too Little Time, Research Shows
A majority of workers say they are saddled with reporting to multiple bosses and that fickle managers often waste their time with unfocused goals and conflicting directives.
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Tyson Foods to Acquire Keystone Foods for $2.16 Billion
Tyson Foods agreed to buy Keystone Foods, a major supplier of chicken nuggets to McDonald’s, for $2.16 billion as part of its strategy to expand globally.
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Lannett Says Key Pact With Distributor to End
Shares in Lannett plunged 55% after the generic-pharmaceuticals maker said a distribution pact with a key supplier won’t be renewed next year and that it would expand restructuring efforts to reduce costs.
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ConocoPhillips to Halt Legal Action Against Venezuela's PdVSA
ConocoPhillips will halt further legal actions against the troubled state-run energy giant Petroleós de Venezuela over an unpaid $2 billion arbitration award after both sides agreed on a payment plan.
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Luxury Apartment Sales Plummet in New York City
Sales of the most expensive New York apartments fell sharply in the first half of the year, pushing sellers to cut asking prices.
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At Heart of New Fed Debate: Bonds or Bills?
Federal Reserve officials are now beginning an internal debate to decide what exactly the central bank’s $4.5 trillion portfolio will look like when they are done shrinking it.
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Putin's Unlikely Ally in His Standoff With the West: His Central Banker
Elvira Nabiullina has earned an unusual degree of freedom to clean up Russia’s messy banking system and stabilize its economy against volatile markets and looming sanctions. Her skills have won her praise from Vladimir Putin—as well as from abroad.
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Videogame Developers Are Making It Harder to Stop Playing
Videogames have gotten harder to turn off, mental-health experts and parents say, raising concerns about the impact of long gaming sessions on players’ lives.
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Pepsi Continues Move Away From Sugary Drinks With SodaStream Deal
PepsiCo has agreed to buy home-carbonation company SodaStream for $3.2 billion, the latest move by the cola giant to diversify away from sugary sodas and salty snacks.
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Sunday, August 19, 2018
Apple Pulls 25,000 Illegal Apps From China App Store
Apple pulled illegal apps from its App Store in China after coming under fire from state media for not doing enough to filter out banned material.
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China's Anbang Looks to Sell U.S. Luxury Hotels
The insurer paid $5.5 billion in 2016 to acquire the portfolio that includes properties in Manhattan, Chicago and Miami, but it’s now looking to sell to raise cash.
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A Surprising Bulwark for the U.S. Economy: Personal Savings
American households are saving more than previously estimated, a sign that consumers are better positioned to weather the next economic downturn.
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Fewer Americans Uproot Themselves for New Jobs
Fewer Americans are moving around the country to pursue new work opportunities, as a tighter labor market and changing family ties make people less willing to uproot their lives for a job.
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Canada's Auto Capital Caught in Crossfire of Trade Dispute
In Windsor, Ontario, angst is rising that the border town’s ties to the U.S. auto industry, already strained by steel tariffs, could soon be ruptured by President Trump’s threatened tariffs on Canadian-made cars.
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Sears CEO Puts His Board on the Spot
For years Edward Lampert has called the shots at Sears as its chief executive, largest shareholder and biggest lender. But his latest play to keep the struggling chain afloat is out of his hands.
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Samsung's Galaxy Note 9 Is Crazy Powerful. Can You Handle It?
The Samsung Galaxy Note 9 does more than any other smartphone—and does it all well—but it’s pretty hard to figure it all out.
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Saturday, August 18, 2018
Beer Giants Tap Into Africa With Brews Under $1
As drinkers in Europe and the U.S. turn away from beer in favor of spirits and nonalcoholic beverages, Africa’s importance to brewers is growing.
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Paramount Network Finds a Hit in 'Yellowstone'
“Yellowstone,” starring Kevin Costner, has found a sizable audience with both male and female viewers, something the network attributes to its family dynamic and its setting in the American West.
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Retailer House of Fraser Locked Down in Logistics Standoff
XPO Logistics has halted operations at two distribution centers as the U.K. chain cancels orders while big brands are owed millions.
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The Game Has Changed at Tesla
An SEC investigation means Tesla’s precarious cash situation could become critical in the coming months.
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What Your Car Knows About You
Auto makers can now collect large amounts of data from internet-connected vehicles, from location to driving habits.
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Purdue Pharma Hires Davis Polk for Restructuring Help
OxyContin maker Purdue Pharma has hired restructuring lawyers at Davis Polk & Wardwell as it grapples with mounting litigation over its alleged role in fueling the opioid epidemic.
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Martin Shkreli's Former Lawyer Sentenced to 18 Months in Prison
Evan Greebel, a former corporate lawyer found guilty last year for helping “Pharma Bro” Martin Shkreli defraud a publicly traded pharmaceutical company, was sentenced to 18 months in prison.
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When Digital Platforms Become Censors
Facebook, Twitter, YouTube and other tech giants say that they’re open forums. What happens when they start to shut down voices they consider beyond the pale?
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Late to the Driverless Revolution
America’s car industry dismissed the potential of autonomous driving for years as tech companies plunged ahead. Now Detroit is racing to catch up.
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Friday, August 17, 2018
U.S. and China Plot Road Map to Resolve Their Trade Dispute
Chinese and U.S. negotiators are drawing up a road map for talks to end their trade impasse culminating with meetings between President Trump and Xi Jinping in November.
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How Ergodan's Push for Endless Growth Brought Turkey to the Brink
The president set policy that let his nation gorge on foreign loans, granting his wish of a brawny economic expansion. Now it is paying the price. The economic turmoil shows how hard it is for countries to emulate China’s model of authoritarian capitalism.
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U.S. Consumer Sentiment Soured in August
U.S. consumer sentiment slid in August to its lowest level in nearly a year, as consumers registered concern about rising prices.
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U.S. Leading Economic Indicators Rose in July
The Conference Board Leading Economic Index rose in July, with unemployment claims, the financial components and the ISM new orders index making the largest positive contributions.
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Trump Directs SEC to Study Six-Month Earnings Reporting
President Trump said he had asked the Securities and Exchange Commission to study moving financial reporting for publicly traded companies to a six-month schedule rather than the current quarterly system.
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Trade Fears Throw Future of U.S. Natural Gas Into Question
As trade disputes continue, the promising U.S.-China energy relationship is compromised.
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Deere Considers Cost Cuts, Higher Prices
Deere reported strong demand in its construction and farming markets in the latest quarter but said it would cut costs and raise prices due to higher raw material and logistics expenses.
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Nordstrom Deserves Better
Nordstrom has been bucking the doom-and-gloom sentiment in the retail sector for some time. Success in both luxury and discount speaks to Nordstrom’s strength, which investors aren’t giving it enough credit for.
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Get in Line: Backlog for Big Rigs Stretches to 2019
With freight demand red-hot, truck manufacturers expect to break records for orders this year, and deliveries will reach deep into next year.
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Foxconn to Build Semiconductor Plant in China's Pearl River Delta
Foxconn will work with the Chinese city of Zhuhai to build a semiconductor plant.
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Maersk to Spin Off Drilling Unit as Break Up Moves Forward
A.P. Moeller-Maersk said it will seek a separate listing of its drilling unit next year, aiming to generate cash proceeds of around $1.2 billion, as the Danish freight carrier continues to reshape itself into a global supply chain player.
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Are We in the Last Days of Diesel?
The 2018 Range Rover HSE Td6 may already be doomed. As diesel sales free-fall and European cities ban diesel vehicles, Dan Neil wonders what’s next for the world’s polluting dinosaurs.
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Thursday, August 16, 2018
SEC Probes Tesla Over Model 3 Production Disclosures
Securities regulators began investigating last year whether Tesla Inc. misled investors about its Model 3 car production problems, according to a person familiar with the matter.
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Google CEO Tells Employees Company Isn't Close to Launching Search Engine in China
Google Chief Executive Officer Sundar Pichai told employees that the internet giant is “not close to launching a search product in China” and is carefully considering how it will do business in the country, according to a person briefed on the comments.
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DoorDash More Than Doubles Valuation to $4 Billion
DoorDash Inc. said it raised $250 million in a round of funding that values the prepared food-delivery startup at $4 billion, more than doubling its valuation for the second time in five months.
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Reorganization of Bankrupt Applebee's Franchisee Could Include Existing Owner
Acon Investments, the buyout firm that owns a bankrupt Applebee’s franchisee, wants to recapitalize the restaurant operator while also leaving the door open for a new bidder to emerge in the chapter 11 proceedings, a lawyer for the franchisee said.
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Nvidia's Crypto Business Dries Up, Worrying Investors
Nvidia reported robust sales and profits during its second quarter, but warned that revenue from products geared toward cryptocurrency mining would be sharply weaker than expected.
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Youth Unemployment Hits 52-Year Low
The unemployment rate among young Americans fell to its lowest level in more than 50 years this summer, though the share of young people looking for work remained well below its peak in 1989.
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FDA Approves Teva's Generic Version of EpiPen Injector
The Food and Drug Administration approved the first generic version from a rival company of Mylan’s EpiPen injector device for life-threatening allergic reactions
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Model 3's Profitability May Be Fleeting, UBS Report Says
Tesla is making a profit of more than $3,000 on each sale of the current low-price version of its Model 3 sedan, UBS estimates, but would lose nearly twice that amount if the vehicle sells at a long-promised price of $35,000.
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As Oscars Get Rewrite, Many Pan the Changes
The Academy of Motion Picture Arts & Sciences faces sharp criticism over a plan to overhaul the Oscars telecast and add a category for “popular film.”
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Google Outgrows Its Youthful Ideals
In middle age, the search giant’s motto has gone from ‘Don’t be evil’ to something more like ‘Get real.’
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Netflix Signs Up 'Black-ish' Creator Kenya Barris
Netflix said it has signed writer and producer Kenya Barris, creator of ABC’s “black-ish,” to an exclusive multiyear deal, the latest addition to its star-studded lineup of creative talent.
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Flight-Simulator Enthusiasts Confident of Real-World Skills
Virtual-flight hobbyists are in the spotlight after a man who stole an aircraft last week near Seattle said he learned to fly with “videogames.’’
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Judge Rejects Large Parts of FTC Suit Against DirecTV
A federal judge rejected large parts of a nearly $4 billion government lawsuit alleging satellite-TV giant DirecTV engaged in deceptive advertising.
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J.C. Penney Lowers Earnings Outlook as Sales Fall
J.C. Penney Co. lowered its full year earnings outlook after the retailer reported a wider loss and lower sales.
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Hershey CFO to Retire in 2019
Hershey’s finance chief Patricia Little is leaving the candy maker at a time of rising costs and changing consumer tastes toward healthier snacks.
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Trump Says He Is in 'No Rush' to Renegotiate Nafta
President Trump said that negotiations have stalled over his attempt to rewrite the North American Free Trade Agreement and that he is no longer in a hurry to overhaul the pact.
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U.S. Jobless Claims Fell Last Week
The number of Americans filing applications for new unemployment benefits fell last week, continuing to hover near historic lows.
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U.S. Housing Starts Bounced Back in July
U.S. housing starts rebounded in July, with single-family construction and apartment building picking up from a sharp drop in June.
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U.S., China to Resume Trade Talks as Tariffs Bite
Washington and Beijing reached a modest breakthrough in their standoff over trade, saying they would hold lower-level talks later this month on the spiraling dispute.
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Walmart Rides Strong Consumer Spending to Faster Sales Growth
Walmart said sales rose at the fastest rate in over a decade as the world’s largest retailer continues to draw more people to stores and benefit from strong consumer spending.
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Starboard Seeks Five Board Seats at Symantec
Activist investor Starboard Value LP has taken a position in the cybersecurity company and privately nominated five directors to its 11-person board in July.
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Good Isn't Good Enough at Macy's
The department store has solid earnings and raises guidance, but that isn’t enough for investors after a big stock run.
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