J.C. Penney quarterly loss smaller than expected, shares rise
J.C. Penney Co Inc on Friday reported a smaller-than-expected quarterly loss, as the struggling retailer benefited from lower advertising expenses and an increase in margins, sending its shares up nearly 14%.
Volkswagen to invest 60 billion euro in e-mobility, digital tech by 2024
Volkswagen will invest 60 billion euros ($66.12 billion) by 2024 to develop electric and hybrid cars as well as digital technologies, the multi-brand car and truckmaking group said on Friday.
Siberian taxi firm bringing fare-haggling to Moscow plans expansion
A Siberian ride-hailing firm that allows customers to haggle over their fares is investing to beef up its presence in Moscow, a market dominated by New York-listed internet giant Yandex and Uber , its founder said.
Trade deal hopes, earnings lift Wall Street futures
U.S. stock index futures rose on Friday, as positive comments related to the U.S.-China trade talks and strong earnings from semiconductor industry bellwether Applied Materials put the S&P 500 and Dow on track to hit fresh highs.
U.S. companies say consumer still strong even as broader outlook dims
Walmart became the latest company to point to a strong U.S. consumer, adding to a raft of firms in recent weeks citing healthy demand at a time when spending is seen as an increasingly key support for the economy.
Alibaba’s $13.4 billion bookbuild covered multiple times: sources
Alibaba’s $13.4 billion institutional bookbuild for its Hong Kong listing is already covered “multiple times,” according to a message sent to investors and verified by sources with direct knowledge of the matter.
Alibaba gets strong demand for $13.4 billion Hong Kong listing: sources
Alibaba’s order books for its $13.4 billion Hong Kong share sale have already been covered “multiple times,” sources with direct knowledge of the matter said on Friday, as the ecommerce group kicked off its campaign for the secondary listing in the ci…
Restaurants remove dining rooms to speed off-site food frenzy
Restaurants are doing away with dining rooms as consumers increasingly order food deliveries through apps such as Uber Technologies Inc’s Uber Eats and GrubHub Inc.
A chip on its shoulder? EU files WTO complaint against Colombia
The European Union filed a complaint at the World Trade Organization on Friday against Colombia over duties imposed on frozen potato fries from Belgium, Germany and the Netherlands.
Apple could raise annual ad income to $11 billion by 2025: JPMorgan
The launch of Apple TV+, coupled with Apple Inc’s foray into digital services, could help the company increase its income from advertising by more than five fold to $11 billion annually within the next six years, analysts from JP Morgan said on Friday….
