On-demand food delivery startup Postmates is adding 100 markets nationwide, and expanding its partnership with Chipotle. The move adds 300 Chipotle restaurants to its roster, and expands the delivery service to 50 million additional potential customers. The expanded partnership is the latest volley in the food delivery wars, which includes competitors like Grubhub, Door Dash, […]
Read moreApple‘s move into augmented reality could boost iPhone and App Store sales, resulting in as much as $8 billion in revenue for the tech giant, according to Bank of America Merrill Lynch. “We think AR apps will command a price premium,” Wamsi Mohan, senior equity research analyst at Bank of America Merrill Lynch wrote in […]
Read moreBrett Kavanaugh, President Donald Trump’s nominee for the U.S. Supreme Court, is not a fan of net neutrality. The former clerk to Justice Anthony Kennedy and current D.C. Circuit Court justice issued a blistering dissent last year in a ruling upholding the Federal Communications Commission’s net neutrality rule, and said that even if Congress had […]
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Walgreens isn’t the only one feeling the pressure of Amazon’s PillPack acquisition, as one Wall Street analyst copped to underestimating just how aggressively the e-commerce giant would disrupt drugstores. “We are downgrading shares of Walgreen … ending one of the more painful experiences I have endured in my 15 [plus] years as a sell-side analyst,” […]
Read moreCurrency, United States Finance
Soccer success for England creates beer, barbecue and big screen TV boost for UK economy
It’s not always the case that Britain finds itself in the midst of a heatwave and it’s almost as unusual to find the England soccer team in the latter stages of a major tournament. Both have aligned at this summer’s World Cup in Russia and the efforts of Harry Kane and Gareth Southgate have already […]
Read morePepsiCo‘s quarterly numbers Tuesday morning may be a signal for another strong earnings seasons, according to CNBC’s Jim Cramer. “They reported exactly what the bulls wanted,” said Cramer, whose charitable trust owns shares of the New York-based food and beverage company. Pepsi’s stock rose Tuesday after the company reported fiscal second-quarter earnings that beat Wall […]
Read moreOil prices will back away from $80 a barrel over the next six months as Saudi Arabia and its allies add more supplies to the market, Barclays said in a research note on Tuesday. The bank said the more bullish outlook held by some of its peers “rests on shaky ground,” and the market is […]
Read moreFacebook is getting into the augmented reality (AR) advertising business, entering a space previously dominated by Snap. Facebook announced Tuesday that it would begin offering AR ads in the News Feed. People will be able to use their mobile device’s camera to participate in the experiences. AR involves superimposing computer-generated images on top of real-world […]
Read moreFinancial stocks may be underperforming this year, but veteran bank analyst Dick Bove isn’t retreating into the bear camp. According to the chief strategist at Hilton Capital Management on CNBC’s “Trading Nation” on Monday, second-quarter earnings should shock financials back into rally mode. It could happen as early as this Friday, when J.P. Morgan Chase […]
Read moreTesla said Tuesday it signed an agreement to build a factory in China to make its electric cars. The news comes days after the automaker has had to raise prices 20 percent in China to respond to import tariffs. Tesla said it expects construction to begin “in the near future, after we get all the […]
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