Confirmed: Walmart buys Jet.com for $3B in cash to fight Amazon
Walmart today took its biggest step yet in its bid to compete against Amazon in the world of digital commerce: today the retail giant announced that it would be acquiring Jet.com — an online-only shopping site that has been live for a little over a year — for $3 billion in cash, plus up to $300 million in shares for the founders and others at the company. Jet.com will continue to retain a separate brand, Walmart said today. The deal is expected to close by the end of this year, subject to regu..>> view originalOPEC to Hold Talks in September as Oil Market Takes Downturn
OPEC will hold informal talks at an energy conference in September, the cartel’s president said Monday, as oil-producing nations worry over a recent downturn in the crude market. The Organization of the Petroleum Exporting Countries is constantly discussing ways to stabilize the market, said Qatar’s energy minister, Mohammed bin Saleh al-Sada, who is serving as the 14-nation oil cartel’s president this year. “OPEC continues to...>> view originalTrump Lags Behind Clinton in New Poll, Hurt by Feud with Khans
Democratic presidential nominee Hillary Clinton’s post-convention bump continues to hold in a new poll, while Republican nominee Donald Trump takes a hit after his dispute with the Gold Star family of fallen soldier Humayan Khan. Fifty percent of registered voters would vote for Hillary, according to the new ABC News/Washington Post poll, and 42% support Trump – a gap broadly in line with other polls conducted after the conventions. Trump’s public back-and-forth with Khizr and Ghazala Khan a..>> view originalSteinhoff Buys Mattress Firm For 115% Premium As Foreign Buyers Bet Big On The US Economy
S&P 500 opens at record high on oil gains, jobs data
The S&P 500 opened at a record high on Monday as oil prices rose and after Friday's stellar jobs report suggested strength in the U.S. economy, boosting appetite for risk.Oil rose 1.8 percent after a report in the Wall Street Journal last week that some OPEC members had called for a freeze in production. [O/R]Seven of the 10 major S&P 500 indexes were higher, led by a 0.96 percent rise in the energy sector .SPNY. Oil majors Exxon Mobil (XOM.N) and Chevron (CVX.N) rose about 0.6 percent and wer..>> view originalTyson, Helped by Prepared Foods, Raises Outlook
Tyson Foods Inc. on Monday raised its profit forecast for the fiscal year, as the meat supplier’s quarterly earnings easily topped expectations and revenue fell less than expected, helped by continued strong consumer demand and lower costs. Donnie Smith, Tyson’s chief executive, said the company was helped in its fiscal third quarter by its focus on growth in prepared foods. Earnings jumped despite an overall decline in sales, a...>> view originalWall St. Edges Higher, Extending Gains
Stocks opened slightly higher on Wall Street on Monday, as major indexes extended record highs set on Friday. Investors continued to see upside following a surprisingly strong July hiring report that had bolstered confidence of continued economic growth. Global stocks rose after strong United States and Germany economic data offset concerns about weak Chinese trade figures.KEEPING SCORE The Dow Jones industrial average rose 0.1 percent, and the Standard & Poor’s 500-stock index rose 0.1 percent..>> view originalAmazon Japan Offices Searched on Suspicion of Antitrust Law Violations
TOKYO—Japanese antitrust regulators raided the offices of Amazon.com Inc.’s local arm, the latest probe targeting the U.S. e-commerce giant in a reflection of intensifying competition. A spokesman for Japan’s Fair Trade Commission on Monday confirmed a report by the Nikkei business daily on the raid. The report said Amazon Japan had allegedly forced retailers to set their prices lower on Amazon to give the site an advantage over...>> view original
Wednesday, August 10, 2016
Confirmed: Walmart buys Jet.com for $3B in cash to fight Amazon and other top stories.
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