Walmart was the lead buyer for months in talks to buy online pharmacy start-up PillPack. But Amazon swooped in, ultimately making a higher offer of around $1 billion. Losing that deal ended up costing Walmart about $2.3 billion, at least in terms of market value. Here’s how. According to a person familiar with the discussions, […]
Read moreAsian stocks looked set to open higher on the last trading day of the week, tracking gains seen stateside as investor concerns over U.S. trade policy persisted. Futures tipped Japan and Australia to open higher: Nikkei futures traded in Japan were up 0.22 percent compared to the benchmark’s Thursday close. Australian SPI futures were higher […]
Read moreCalifornia Governor Jerry Brown on Thursday signed data privacy legislation aimed at giving consumers more control over how companies collect and manage their personal information, a proposal that Google and other big companies had opposed as too burdensome. Under the proposal, large companies, such as those with data on more than 50,000 people, would be […]
Read moreRonda Fox finally got the news last week, three months into planting season: The federal government approved her application to employ more than a dozen temporary foreign workers for her family-owned landscaping business in Aurora, Colo. She had hoped to have her crew in place by April 1, but had initially lost out in this […]
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Amazon wiped out $17.5 billion from eight companies’ market values Thursday with just two announcements. The e-commerce giant has become a force on Wall Street. Even a hint it might take on a new industry can send investors running and stocks tumbling. That was evident Thursday. Amazon said it would recruit entrepreneurs to run local […]
Read moreThe biggest U.S. banks announced plans to buy back tens of billions of dollars in stock and hike their quarterly dividends after passing an annual stress test by the Federal Reserve. Bank shares rose broadly on the news, with Bank of America, Citigroup and J.P. Morgan Chase trading at least 1 percent higher before the […]
Read moreGoldman Sachs, Morgan Stanley must keep capital return plans unchanged after Fed stress test blunder
Goldman Sachs and Morgan Stanley were forced to leave shareholder pay-outs at roughly last year’s level after fumbling a crucial part of the Federal Reserve’s annual stress test, while competitors from JPMorgan Chase to Citigroup were allowed to boost distributions. The New York-based investment banks were ensnared by the administration’s tax cut, which resulted in […]
Read moreInvestors don’t seem to have much confidence in Walgreens Boots Alliance, and the drugstore chain hasn’t said much to ease their concerns. Walgreens is testing new concepts, including adding optical and vision services to some stores. It’s also partnering with health-care companies, such as insurer Humana to open two senior-centric stores and LabCorp to offer […]
Read moreTesla is sending out e-mails to all Model 3 reservation holders in North America this week informing them that their electric sedans are ready to order and asking for an additional $2,500 to fulfill their orders. The move could help Tesla in its drive toward profitability this year. CEO and chairman Elon Musk has promised […]
Read moreInstagram Stories now has double the number of daily active users as competitor Snapchat, according to Instagram. The Stories feature, which allows users to share ephemeral photos with their followers, is up to 400 million daily users, Instagram said on Thursday. Snapchat pioneered the photo stories model and reported 191 million daily active users for […]
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