U.S. Markets closed
  • Insider Q&A: General Motors learning the rental business
    Finance
    Associated Press8 hours ago

    Insider Q&A: General Motors learning the rental business

    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.

  • Amazon's Instant Pickup service shows clearly who Jeff Bezos is targeting next
    Business
    The Street7 hours ago

    Amazon's Instant Pickup service shows clearly who Jeff Bezos is targeting next

    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.

  • Will Walgreens Ever Get to Spend $5.2 Billion on 2,186 Rite Aid Stores?
    Business
    The Street4 hours ago

    Will Walgreens Ever Get to Spend $5.2 Billion on 2,186 Rite Aid Stores?

    Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. (RAD) are still hoping to avoid another lengthy go-round with the Federal Trade Commission as they seek antitrust approval for the "Plan B" they unveiled after canceling their merger on June 29. On Thursday, Aug. 17, the pharmacy retail chains said they voluntarily pulled and refiled their antitrust notification with the FTC plans for Walgreens to buy 2,186 Rite Aid stores for $5.2 billion. Refiling antitrust an application gives the commission an extra 30 days to review the transaction without issuing a more burdensome second request for information and is a common maneuver when merging parties that believe they can address a few competition