Asian shares were tentative in early Monday trade as investors remained unconvinced about U.S. President Donald Trump's ability to fulfill his economic agenda.Read More »
General Motors Co. started its car-sharing service, Maven, just over a year ago, placing Chevrolets and Cadillacs in New York apartment buildings for occupants to rent. Maven is still working with apartment dwellers, but it is also offering hourly and daily rental cars in 17 North American cities. It also offers Maven Gig, a service that lets people rent cars to do odd jobs, like ride-hailing for Lyft or delivering food for GrubHub.
In the two months since Amazon.com Inc. (AMZN) announced its jaw-dropping $13.7 billion deal to buy Whole Foods Market Inc. (WFM) , there's been plenty of speculation about what types of physical retailers besides grocery stores Amazon will target via bricks-and-mortar initiatives. Between what was announced today and last December's unveiling of the Amazon Go store concept, it's safe to say that convenience stores are high on Amazon's hit list. As with grocery stores, Amazon is taking aim at an industry that to a large degree has been immune to e-commerce's multi-decade onslaught. Amazon just unveiled Instant Pickup, a service that it promises will let Prime members pick up "hundreds of need-it-now items like food, cold drinks, personal care items, technology essentials and Amazon devices" within two minutes of ordering them via the Amazon app.
Teva Pharmaceutical Industries Ltd.'s (TEVA) ignominious slide from its perch as Israel's largest market cap company won't be reversed until the pharma company clears three big hurdles: installing a new CEO and management team, spinning off key units to reduce its debt and achieving clarity on how much competition it will face from generic versions of its branded multiple sclerosis drug Copaxone. Bloomberg reported Tuesday that Teva lost its position as Israel's biggest firm due to depressed prospects for generics makers generally and disappointment over the company's second quarter earnings announcement on August 3. Teva had held the spot as Israel's largest market cap company for 15 years. Teva has lost more than $32 billion, or two-thirds, of its market value this year.