Samsung’s third-quarter operating profit likely fell as much as 62% from a year earlier. How much is this due to Apple? Piper Jaffray’s Gene Munster and Tanya Rivero discuss. Photo: Getty
Swatch Group is happy to go it alone with a launch next year of watches with “smart” features to compete with so-called wearable gadgets from the big tech companies, a market potentially worth $93 billion. The world’s biggest watchmaker, which sees the advent of smartwatches as an opportunity rather than...
Atlanta Fed President Dennis Lohckhar said the Federal Reserve is focused on an initial interest rate hike between the first quarter and the middle of next year, with possible changes in its main policy statement as soon as next month. Lockhart told Reuters, “It is reasonable with the improving data...
HSBC was sued for $250 million on Friday for allegedly ignoring red flags that a colorful British entrepreneur, the late David Elias, was committing fraud through an investment vehicle he controlled. According to the complaint, HSBC had been a custodian of life insurance policies used as collateral for bonds that...
Lockheed Martin met with 90 key suppliers last week to brainstorm ways to lower the long-term cost of operating and maintaining the F-35 fighter jets from the Pentagon’s current forecast of $1.02 trillion through 2065. Top officials from the Pentagon’s Defense Contracts Management Agency and the Defense Contracts Audit Agency...
Flashes of illumination rather than fireworks are expected at this week’s annual meeting of top central bankers and economists in Jackson Hole, Wyoming. Few predict anything so momentous as the speech by Federal Reserve chairman Ben Bernanke two years ago that paved the way for an unprecedented $85 billion per...
Michael Kors reported another quarter of blistering sales growth as demand for its handbags and watches surged in North America. Shares of the company, founded by fashion designer Michael Kors, were up 3.4 percent premarket on Monday after the company also raised its full-year revenue and profit outlook. The company...
Toyota Motor Corp is hitching its future to green cars, investing billions of dollars in gasoline-electric hybrids and fuel-cell vehicles, but for now its record profit performance is being powered largely by a gas-guzzling U.S. market. In the United States, relatively cheap gasoline prices helped to spur brisk 9 percent...
By picking his old number, could LeBron James be missing out on big jersey sales? It doesn’t look that way so far.
Boeing plans to bring out a new minor model of its best-selling 737 passenger jet with extra seats, the head of its planemaking division said, stepping up efforts to woo low-cost carriers in competition with Europe’s Airbus. Announcing the move on the eve of the Farnborough Airshow, the head of...
According to people familiar with the matter, Shire Plc is seeking a higher takeover offer from U.S. drugmaker AbbVie that would value the company at about 31 billion pounds. Shire, which on Friday confirmed it has met with AbbVie to discuss a takeover, had asked AbbVie to sweeten its offer...
Luxury car maker BMW revealed a $1 billion Mexican plant investment on Thursday, becoming the latest major automaker to take advantage of the country’s growing industrial base and tariff-free access to the U.S. market. The automaker outlined plans to build a factory in the central Mexican city of San Luis...
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