Embattled Japanese Defence Minister Tomomi Inada said on Friday she was resigning, after a series of gaffes, missteps and a cover-up at her ministry that have contributed to a sharp plunge in public support for Prime Minister Shinzo Abe. Inada, an Abe protege who had been seen as a possible future premier, was expected to […]
Read moreWells Fargo required more than 800,000 customers who took out car loans to buy auto insurance they did not need, the New York Times reported, citing an internal report from the bank. The cost of the unnecessary insurance pushed around 274,000 customers into delinquency and resulted in nearly 25,000 wrongful vehicle repossessions, the article said, […]
Read moreSHENZHEN, China — Chinese tech firm Huawei has clawed its way to the top in China and now it wants to clobber Apple and Samsung globally by selling to richer customers. “We’re more focused on developed countries, instead of developing countries,” Richard Yu, CEO of Huawei’s consumer business group, told CNBC. That’s because they’re more […]
Read moreJapanese household spending in June jumped the most since 2015 as job availability improved to a fresh 43-year high, in a sign the tightening labor market is helping push up wages and consumer spending — albeit gradually. Underscoring stubbornly low inflation despite the tightening job market, core consumer prices rose just 0.4 percent in June […]
Read moreAmazon’s stock price dropped more than 3 percent in after-hours trading on Thursday after the e-commerce giant recorded a smaller second-quarter profit as expense growth outstripped revenue growth. One reason: Amazon is spending heavily on hiring. The company saw a 51 percent increase in general and administrative costs, of which employee salaries typically make up […]
Read moreA firming dollar will set the stage as Asia markets open for trade Friday following solid U.S. economic data, and investors will be looking ahead to more corporate earnings due during the session. The greenback firmed on the back of better-than-expected U.S. durable goods orders for the month of June. A measure of orders for […]
Read moreAfter Verizon and AT&T topped Wall Street’s earnings estimates with their second-quarter results, Jim Cramer wondered if there might be more steam ahead for the telecom giants. “These are huge comebacks for two staid, old competitors that had started to seem like whipping boys for John Legere, the brash CEO of T-Mobile,” the “Mad Money” […]
Read moreAfter Verizon and AT&T topped Wall Street’s earnings estimates with their second-quarter results, Jim Cramer wondered if there might be more steam ahead for the telecom giants. “Are the empires striking back?” the “Mad Money” host asked. Verizon’s earnings beat was driven in part by the addition of 614,000 wireless, post-paid subscribers, up from a […]
Read moreThe days of “couch potato” gamer stereotypes are long over, as the burgeoning eSports industry rakes in hundreds of millions of dollars each year. The trend’s top beneficiaries include Logitech, the Swiss maker of computer accessories like keyboards, headphones and high-end gaming gear, and its CEO, Bracken Darrell, is thrilled to be a part of […]
Read moreDays when the stock market’s top performers fall out of favor with Wall Street and investors turn to stocks they previously hated remind Jim Cramer of what sell-offs are really about. “[It’s] a chance to identify red-hot stocks that may have gotten away from you — but you didn’t want to chase then because you […]
Read more