The "Squawk on the Street" news team reports on today's top business headlines, including Wal-Mart's mixed earnings, and Cisco's looming layoffs.
Robin: This story reveals alliances and loyalties of our sitting president, and of our Congress. Thank God somebody is protecting the United States interests and security, and not 'making deals' with a foreign power obviously who are in conflict with our national interests. This foreign power has illegally influenced our national security and voting process. Dump Trump ! before he sells us out to his pal Putin !
The applicant is Amazon Technologies, Inc., and the idea is to use either man-made pools or natural bodies of water to store goods while waiting for fulfillment orders. My first reaction was somewhere between “huh?” and “you’ve got to be kidding.” After all, every box would need to be either waterproof or put into a watertight container.
A new foodborne illness scandal requires a total re-brand at Chipotle Mexican Grill Inc. (CMG) , according to one branding expert. Shares of Chipotle dropped 3.3% to $344.45 by Friday's close, hitting new 2017 lows, as Chipotle grappled with twin PR crises. Public health officials confirmed that a customer at a Chipotle location in Sterling, Va. is ill with norovirus, while data from food poisoning crowdsourcing website iwaspoisoned.com indicates that over 100 customers at that location also fell ill. The same week, customers complained that a Dallas location had rats "falling from the ceiling." "The event that occurred at this restaurant is consistent with Norovirus which can be introduced by
Oil prices were little changed on Monday following a steep fall in the previous session amid growing expectations that the joint OPEC and non-OPEC ministerial meeting later in the day would address rising production from Nigeria and Libya, two OPEC members exempted from the cuts. Six OPEC and non-OPEC ministers will meet on Monday in St Petersburg to discuss the market outlook and compliance with output cuts. The joint OPEC/non-OPEC ministerial committee could also discuss a deeper cut in production, but more studies are needed, according to one of the sources.
A few weeks ago I tried to short the entire market. It was my first time trying to call a top and it won’t be the last. I thought I had a grasp on the Fed, the price of oil, and the crash of retail. I thought is a very key word here. The market is a monster
United Auto Workers President Dennis Williams said the union is working with General Motors (GM) to avoid layoffs as U.S. auto sales slump, AutoBlog reported. GM is considering producing more trucks and SUVs while killing off six slow-selling models produced at underused car plants such as Hamtramck in Michigan and Lordstown in Ohio. It's unclear if the plants will start producing newer, more popular models. GM has cut shifts at several of its U.S. plants as inventories of small and midsized cars grow. If GM stopped producing the six models under consideration, it wouldn't happen until 2020. The models at risk are the Chevrolet Volt, Buick LaCrosse, Cadillac CT6, Cadillac XTS, Chevrolet Impala
If you listen to Starbucks (SBUX) execs, then everything at the coffee giant is amazing. Do some work in Microsoft (MSFT) Excel (as the analysts at Credit Suisse did below on Wednesday), and a glaring issue comes to light. That is, for all its digital leadership and ability to crank out new, more expensive drinks, Starbucks sales are on a long-term downtrend. Seeing as employee hourly wages and benefit costs are on the rise, as are costs to open new locations, a stubborn downtrend in sales is very unwelcome. It's especially unwelcome as most on Wall Street remain obsessed with Starbucks' growth prospects -- they could be in for some unfortunate surprises on the bottom line over the next year
Among the fires is the most destructive wildfire in the U.S. this year, which crept within a mile of the historic tourist town of Mariposa.
A current Costco food court employee recently shared some insights about the members-only warehouse club with a cult-like following. In an Ask Me Anything session on Reddit, the employee spilled details about the food court's most popular menu item, the excessive use of pizza oil, and how to get the freshest churro. There's a reason the berry smoothie was replaced.
Amazon Business is off to a promising start, according to Bill Burkland, head of Amazon Business in the UK. "You can think about Amazon Business being for business customers what Amazon.co.uk is for consumers," Burkland continued.
A punishing drought that stretches across much of the U.S. Northern Plains could cause farmers to lose 64 million bushels of wheat production this year, according to federal officials. The federal government has declared numerous counties in the three-state region to be disaster areas and authorized haying and grazing on land meant for conservation to help alleviate the conditions. Federal agriculture officials have labeled as poor or very poor more than half of Montana's 2017 crops of spring wheat, lentils and durum.
Jul.23 -- Xiaomi Head of Consumer Lending Shea Chen discusses his outlook for China's fintech industry. He speaks on "Bloomberg Daybreak: Asia."
HAVANA/NEW YORK (Reuters) - U.S. tour operators that send Americans to Cuba are banding together to try to limit damage to business from tighter restrictions on travel to the communist-run island expected in September from the Trump administration. The revised approach includes stricter enforcement of a longtime ban on Americans going to Cuba as tourists. Among changes are limiting visits to 12 existing categories of non-tourist travel and a ban on the use of hotels and other facilities owned by Cuba's military.
Though many workers look forward to retirement and the change of pace it typically brings about, deciding when to pull the trigger can be quite the stressful endeavor. Not only does retirement have financial implications, but it can affect your emotional wellbeing as well. Before you choose to retire, take some time to think about whether you're really ready to embrace this particular milestone. Are you financially ready? Though you may be itching to leave your job and enjoy a more relaxed lifestyle, your plan could backfire if you're not financially prepared for what lies ahead. The Economic Policy Institute reports that more than 40% of baby boomers nearing retirement have absolutely no savings
Some of the BBC's most prominent female journalists and TV presenters are banding together to demand that the broadcaster fix its wide gender pay gap immediately rather than in several years as management has proposed. TV personalities including Clare Balding, Victoria Derbyshire and others wrote an open letter Sunday to the BBC's top manager saying that plans to resolve the company's gender pay gap by 2020 must be accelerated. Documents made public last week showed that male BBC TV and radio personalities make substantially more than their female counterparts.
WTI Crude Oil The WTI Crude Oil market initially tried to rally during the day on Friday, but found enough resistance in the $47 level to turn around and fall significantly. That being the case, the market looks likely to continue to find bearish pressure
A small group of companies and individuals are looking to register racially charged words and symbols for their products, including the N-word and a swastika, based on a U.S. Supreme Court decision on trademarks last month. At least nine such applications have been filed with the U.S. Patent and Trademark Office (PTO) since the unanimous June 19 ruling throwing out a federal law prohibiting disparaging trademarks. Federally registered trademarks, though not required to sell goods in the marketplace, can protect businesses against unauthorized uses of their brands.
U.S. West Texas Intermediate and international-benchmark Brent crude oil posted a volatile two-sided trade last week before settling lower. The bearish news was increased production from OPEC. September WTI crude oil futures settled at $45.77, down $0.98 or -2.10% and October Brent crude oil finished the week at $48.31, down $0.86 or -1.75%.
Teva Pharmaceutical Industries (TEVA.TA) said on Sunday it would lay off some of its 7,000 employees in Israel in the coming months as it reorganises in a drive to improve competitiveness. Teva, Israel's largest company, did not specify how many workers would leave, but a source close to the process told Reuters the number would be about 350, mainly in production. Teva (TEVA.N) employs 4,000 workers in production in Israel.
is one of the world's biggest companies, so its new CEO, John Flannery, won't be able to thoroughly familiarize himself with its operations and refine its performance targets overnight. "I'm not worried about internal paralysis," Flannery told analysts and investors during the Boston-based company's quarterly earnings call on Friday, June 21.
German carmaker BMW on Sunday rejected media reports that the emissions treatment systems in its vehicles do not work effectively and that it colluded with rivals on their design. Der Spiegel magazine reported on Friday that BMW, VW (VOWG_p.DE), Audi and Porsche may have colluded to fix the prices and designs of diesel emissions treatment systems and other vehicle parts. "Cars of the BMW Group are not being manipulated and are in line with the applicable legal requirements," BMW said in a statement.
Music streaming is an extremely tough business that is dominated by big companies willing to treat it as a loss leader. SoundCloud, which debuted in 2008, built itself by making online music hosting easy for independent musicians. According to musicians and labels interviewed by The Verge, SoundCloud's troubles began as early as 2012.
Lucy Harris thinks Britain's decision to leave the European Union is a dream come true. Nick Hopkinson thinks it's a nightmare. Since the shock referendum result, work on negotiating the divorce from the EU has slowed to a crawl as the scale and complexity of the challenge becomes clearer.
Fans and followers of Alphabet Inc (NASDAQ:GOOGL, NASDAQ:GOOG) have seen the company come up with some pretty clever and marketable ideas over the years. As far as cutting-edge science goes, though, Alphabet stock owners haven’t exactly seen that kind of innovation from the company. It wasn’t all that long ago that quantum computing was a mere theory.
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