Hurricane Irma poses a mixed bag of good and bad for retailers across the Southeast, with the storm scheduled to make landfall in Florida beginning Sunday. Sales are expected to surge for grocers, home centers and mass merchants ahead of the storm, Cowen and Co. analyst Oliver Chen wrote in a Friday note to clients.
Target shares dropped after the retailer posted a blog on Friday, promising to lower prices on thousands of goods. The cuts will be on items including cereal, paper towels, baby formula, razors and bath tissue, Target said. And the news comes just days after Amazon started cutting prices at Whole Foods’ stores across America. Target
Investor psychology has moved on from the memory of the 2008 financial crash and the recession that followed, a fund manager told CNBC. “I think what’s very interesting at the moment is why equity markets are not really moving very much in response to what you might have expected to be events that would move
French President Emmanuel Macron delivered an ambitious vision for how the European Union should reform, but used the opportunity to lash out the International Monetary Fund (IMF) for its role during the euro zone debt crisis. Macron was in Athens for a two-day visit, accompanied by 40 business executives from companies including Total and Vinci
Simon Dawson | Bloomberg | Getty Images Takeshi Uchiyamada, chairman of Toyota, poses for a photograph at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2017. A hybrid car was never the first option. But when Uchiyamada’s bosses shot down an initial pitch to develop a car with 50 percent better fuel efficiency,
Georgia Gov. Nathan Deal ordered evacuations for all areas east of Interstate 95, including the city of Savannah, and authorized about 5,000 National Guard members to help with response and recovery. Noel Marsden said he, his girlfriend, her son and their dog left Pembroke Pines north of Miami with plans to ride out Irma in
Target is growing in the beauty department. The big-box retailer earlier this week unveiled an exclusive brand, building on its successes online, that’s about to hit the market. The collection, called Glow Studio, will feature four-step routine kits that simplify a typical 10-step Korean beauty regimen, making it more accessible to users. In launching Glow
Ride-sharing challenger company Taxify is expanding into Western Europe in a bid to unseat Uber and bring greater competition to the market. Taxify will launch in London at 10:00 a.m. local time on Tuesday, September 5, and will offer fares at a 50 percent discount for the rest of the month as it aims to
“Whilst this is obviously bad and unfortunate news, it is also so far the only case of long term impact from Harvey on the asset base of the industry in the region,” Laurent Favre, head of global chemicals research at Evercore ISI, said in a note. “We stress that the financial impact should be limited
“(These plans are) just more crony capitalism from the Tories, who once again prop up the rigged system for the few at the expense of the many,” Long-Bailey said, according to Reuters. May’s government has had to work closely with business leaders over recent months as it seeks to secure their loyalty to the U.K.
Johannes Eisele | AFP | Getty Images Employees working on a car assembly line of France’s Renault and China’s Dongfeng factory in Wuhan, Hubei province, China on on February 1, 2016. Nissan Motor and its alliance partner Renault SA said on Tuesday they are setting up a new joint venture with their partner Dongfeng Motor
So how will this historic and dramatic breach between a Republican president and the business community be closed? In a word: carefully. Businesses will have little choice but to continue to interact with the White House on some level but in a way that acknowledges how devastating and dangerous dancing with this administration can be.
NOEL CELIS | AFP | Getty Images Philippine President Rodrigo Duterte attends the 115th Police Service Anniversary at the Philippine National Police (PNP) headquarters in Manila on August 17, 2016 Earlier, Duterte broke off midway through a prepared speech at the Hero’s Cemetery on the outskirts of Manila and addressed impromptu comments to Jovie Espenido,
Kevin Winter | WireImage | Getty Images Taylor Swift performs during The 58th GRAMMY Awards at Staples Center on February 15, 2016 in Los Angeles. Spotify says Taylor Swift has set a new global first day streaming record. The music delivery site said Saturday it had logged more than 8 million same-day streams for her
The path of the Hurricane Harvey is putting Texas agriculture at risk. The Lone Star State leads the nation in cattle and cotton production, and rice also is a major ag crop. All are vulnerable with the approaching storm. At the same time, Harvey is expected to delay agricultural export activity as it will interrupt
“We bring, clearly, the online traffic to Wal-Mart,” said Cheng. Furthermore, Wal-Mart is “offering space in their stores for our inventory … so we have expanded our fulfillment capabilities as a result of that as well,” he said, adding that the company also looks forward to selling “a tremendous number of quality imported products not
A widely used farm pesticide the Trump administration refused to ban might get restricted in California. Environmental activist groups, including the Natural Resources Defense Council and Earthjustice, are fighting to get a ban on chlorpyrifos and claim it can be harmful to children’s health and development. The groups were dealt a setback this week when
Insurers are struggling to estimate their potential exposure to cyber-related losses amid mounting cyber risks and interest in cyber insurance. A lack of historical data on which insurers can base assumptions is a key challenge. “Because cyber is virtual, it is such a difficult task to understand how it will accumulate in a big event,”
John Slattery, president & CEO of commercial aviation for Embraer, said Sunday that it’s the biggest plane Embraer has ever built and he expects airlines will recognize its value. “It is very cheap to operate, it is very light and we believe airlines will be able to generate extra revenue and that’s why we’ve called
Since John Mackey co-founded a precursor to Whole Foods in 1978, he has taken a hands-on management approach to the organic grocery chain. He personally oversaw each step of its national expansion. During a takeover battle 10 years ago, Mr. Mackey used a pseudonym to write anonymous blog posts attacking a competitor. So over the