Amazon bans customers who return too many products, according to The Wall Street Journal. This is a practice that’s used by traditional retailers, but Amazon shouldn’t act like its brick-and-mortar competitors. Amazon customers speaking to the Journal described being banned for returning all sorts of products, from clothing to cellphones. Retailers like Best Buy use […]
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Marvin Ellison’s exit as CEO of J.C. Penney means the struggling department store chain can’t be turned around, CNBC’s Jim Cramer said Tuesday. J.C. Penney shares plunged Tuesday after Lowe’s announced it is naming Ellison president and CEO, effective July 2. J.C. Penney, which has struggled to compete within the quickly changing retail landscape, told […]
Read moreStreaming numbers for R. Kelly have remained intact a week after Spotify announced it had removed the R&B singer’s music from its playlists, citing its new policy on hate content and hateful conduct. Spotify made the bold declaration on May 10, but R. Kelly’s streaming numbers are relatively the same with some small growth: Before […]
Read moreOne of Facebook‘s most senior executives, Naomi Gleit, believes so deeply in the social media firm and her colleagues that she’d agree to “cleaning the toilets” if asked, Gleit told Recode in an interview. “I would kind of do anything with them,” Gleit told the news site. “If they told me … to work on […]
Read moreThe elevation of Stacey Cunningham to president of the NYSE Group represents a full circle for one of the few women who have worked on the exchange floor. Cunningham is well-known to traders. She started her career on the floor in 1994 as an intern with specialist firm Murphey, Marseilles, Smith & Nammack, but started […]
Read moreSen. Marco Rubio said Tuesday he would push for “veto-proof congressional action” to check the Trump administration’s reported deal to save Chinese telecommunications company ZTE. Washington and Beijing have discussed the framework of a deal for the U.S. to lift the ban on American companies selling goods to the firm in favor of possible management […]
Read moreThe U.S. may be close to the peak of its earnings cycle, but earnings still have room to climb — and markets are failing to reflect that potential, according to asset manager NN Investment Partners (NNIP). Investors seem to have reacted with near indifference to an objectively strong corporate earnings season. Reuters calculated that first […]
Read moreGeneral Electric still needs billions of dollars in additional capital to pacify investors and credit rating agencies, according to J.P. Morgan. “With little available cash flow to naturally de-lever, we don’t see how, from a risk mitigation perspective, a company of this size and complexity cannot be seriously considering at least a dividend cut and/or […]
Read moreBP has invested $20 million in Israel’s StoreDot, a start-up that claims its batteries can charge electrics cars in five minutes. The oil giant said Tuesday that its venture capital arm BP Ventures was investing in the Tel Aviv-based firm as it looks to reduce greenhouse gas emissions in its operations. “Ultra-fast charging is at […]
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Just how contrarian are you? How to know when the onrushing herd has it right? When following Warren Buffett’s credo to be greedy when others are fearful, where’s the line between brave and foolhardy? These are the self-directed questions of an investor today mulling Wall Street’s most-hated trade: Owning the classic American consumer-staples stocks. Exactly […]
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