People love shopping for bulk food at Costco's giant warehouses, something they can't do at no-store having Amazon . And that's great news for Costco as it tries to defend its turf vs. a disruptive digital foe, according to a new survey from Barclays
In roughly four weeks’ time, OPEC and Russia will meet in Vienna to assess how well their agreement to cut oil production has performed. This week it led to a rough ride for prices, with headlines screaming ‘Oil has had its worst day since March!’ WTI closed on Wednesday at $50.26 per barrel, after the U.S. Energy Information Administration reported that stocks of crude oil had fallen by 1 m barrels – instead of the 1.5 m that had been anticipated. Well, when OPEC agreed in principle in September 2016 to reduce output, nothing was actually going to come into force until January 1st 2017.
is on track to cut fixed costs by $1 billion in 2017, one of the targets set in talks with activist Nelson Peltz's Trian Fund Management, and CEO Jeffrey Immelt expects the reductions to pick up speed later in the year. The Boston-based conglomerate reduced expenses by about $375 million in the three months through March before boosting spending in its digital manufacturing business and raising wages by about $80 million, executives said on an earnings call. Operating earnings from manufacturing businesses including power, jet engines, locomotives and medical devices rose 9.6% to $3.6 billion in the first quarter, according to a company presentation Friday.