Economists predict a boom in October’s retail sales, aided by rising gasoline prices and early holiday shopping. Retail sales are expected to rise 1.5%, up from September’s 0.7% gain, according to economists polled by Dow Jones. Excluding autos, sales are forecasted to rise 1%, compared to the 0.8% increase a month earlier, Dow Jones found. […]
BEIJING — Even as China’s newly rich internet celebrities keep smashing livestreaming sales records, businesses are finding other strategies that might work better for their brands. Livestreaming is here to stay, many analysts say, but relying on a system of internet personalities and views will no longer be enough. The real-time online selling phenomenon — […]
You probably don’t need a news report to tell you that gasoline prices have been surging. Prices are at a seven-year high, up more than a dollar from a year ago. Rising energy costs, including gasoline as well as natural gas and coal, are a major driver of high inflation. That’s putting pressure on household […]
SINGAPORE — Shares in Asia-Pacific were mixed on Monday as investors reacted to the latest Chinese economic data for October. Mainland Chinese stocks closed lower, with the Shanghai composite slipping 0.16% to 3,533.30 while the Shenzhen component dipped 0.469% to 14,636.39. Hong Kong’s Hang Seng index sat little changed, as of its final hour of […]
The air travel industry is “not quite out of the woods” — but the future could be brighter than the last 20 months, says Paul Griffiths, the chief executive of Dubai Airports. “We have room for optimism that the future, hopefully, is much brighter than the last 20 months,” he told CNBC’s Dan Murphy on […]
Tesla CEO Elon Musk brushed off Sen. Bernie Sanders’s demands that the wealthy “pay their fair share” in his latest back-and-forth with the self-described democratic socialist. “I keep forgetting that you’re still alive,” Musk tweeted at Sanders Sunday morning. The tweet came in response to Sanders saying on Twitter Saturday that, “We must demand that […]
People in the United States are experiencing the highest levels of inflation in 30 years. The U.S. Bureau of Labor statistics reported prices have gone up 6.2%, the highest annual increase since 1990. Compared to 2020, data shows food is up an average of 5.3% with some items like beef, reported to be up an […]
Amazon’s big bet on Rivian Automotive paid off this week when the electric vehicle start-up made an explosive debut on the public markets. Rivian raised nearly $12 billion in the mammoth offering and landed a lofty valuation of more than $110 billion, higher than auto giants GM and Ford. The IPO resulted in a massive […]
Meta (formerly Facebook) CTO Andrew Bosworth warned employees that creating safe virtual reality experiences was a vital part of its business plan — but also potentially impossible at a large scale. In an internal memo seen by Financial Times, Bosworth apparently said he wanted Meta virtual worlds to have “almost Disney levels of safety,” although […]
The Indian government “strongly feels” that advertisements by cryptocurrency exchanges that promise customers wild profits and are not transparent about the volatile nature of such trading must be prohibited, according to a memo outlining the summary of a meeting between the Indian Prime Minister Narendra Modi and several stakeholders on Saturday. A consensus has been […]
Shares of Tesla declined 15.4% for the week after CEO Elon Musk commenced with his plans to sell a huge block of his holdings this week. It marks Tesla’s worst one-week performance in 20 months. It’s also the stock’s worst week ever excluding declines that occurred in February and March 2020 — as the coronavirus […]
DALLAS — More than 4.4 million people quit their jobs in September, the Bureau of Labor Statistics reported Friday. In a sign The Great Resignation continues to grow, the data showed the accommodation and food services industry had the highest overall number of quits at an estimated 867,000. The arts, entertainment, and recreation industry had […]
