Business News

With Whole Foods, Amazon on collision course with Wal-Mart

CHICAGO/SAN FRANCISCO When Wal-Mart Stores Inc bought online retailer Jet.com for $3 billion last year, it marked a crucial moment - the world's largest brick-and-mortar retailer, after years of ceding e-commerce leadership to arch rival Amazon, intended to compete.On Friday, Amazon.com Inc countered. With its $14 billion purchase of grocery chain Whole Foods Market Inc, the largest e-commerce company announced i...

18 Jun 3:56 PM 0 Read More...

Republicans debating remedies for corporate tax avoidance

WASHINGTON President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to limit U.S. corporate tax avoidance schemes that take advantage of low tax rates in foreign countries.Congressional and administration staff have begun to examine options to address profit-shifting schemes that include so-called transfer pricing, earnings stripping and tax inversions. ...

18 Jun 3:56 PM 0 Read More...

Boeing sees strong interest in potential new 737 model

PARIS Boeing (BA.N) has received strong interest in a potential new member of its best-selling 737 aircraft range, the planemaker's new commercial chief said on Sunday. Boeing is widely expected to launch the 190-230-seat 737 MAX 10 at the opening of the Paris Airshow on Monday, adding a larger new variant to its narrowbody medium-haul family. Boein...

18 Jun 3:56 PM 0 Read More...

Tech to see bump in growth weighting in Russell rejig

NEW YORK The largecap technology sector is expected to see a bump in its growth weighting when index provider FTSE Russell completes the annual refresh of its benchmarks next Friday, a move that could lift tech shares targeted in the rejig. The increased significance of tech comes on the heels of an around twenty percent gain in the sector this year which led to a pullback over the last week.FTSE Russell finaliz...

17 Jun 4:35 AM 0 Read More...

Amazon-Whole Foods deal roils Wall St.; energy shares gain

NEW YORK Major U.S. stock indexes ended little changed on Friday even as Amazon.com's $13.7 billion deal to buy upscale grocer Whole Foods roiled the retail sector and rocked shares of an array of companies including Wal-Mart and Target.Energy sector shares helped buoy the S&P 500 and the Dow industrials, while Apple dragged on the Nasdaq.The deal by Amazon, a proven retail disruptor, marked a major step by t...

16 Jun 11:34 PM 0 Read More...

Weak inflation erodes conviction at Fed on rate hikes

DALLAS/WASHINGTON When the Federal Reserve raised rates earlier this week, Fed Chair Janet Yellen expressed confidence that recent weak inflation readings were transitory. Fed officials on Friday signaled that doubts are simmering. In an interview with Reuters on Friday, Minneapolis Federal Reserve President Neel Kashkari said he was not alone at the U.S. central bank in his view the Fed should have waited to rai...

16 Jun 11:34 PM 0 Read More...

Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world

Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling U.S. retail industry.Amazon used aggressive pricing to become an e-commerce retail juggernaut and has recently been experimenting with brick-and-mortar outlets. It will take over a natural and ...

16 Jun 11:34 PM 0 Read More...

Wall St. falls as Amazon-Whole Foods deal crushes retailers

U.S. stocks fell on Friday as Wal-Mart and other retailers were slammed by Amazon.com's biggest foray into the brick-and-mortar retail sector with its $13.7 billion deal to buy upscale grocer Whole Foods.Amazon shares were up 3.2 percent at $995.18, while Whole Foods (WFM.O) surged 27 percent to $41.95.The deal by Amazon, a proven retail disruptor, is seen as a threat to supermarket chains and grocers, given the ...

16 Jun 6:33 PM 0 Read More...

Amazon moves into real-world stores with $13.7 billion Whole Foods deal

Amazon.com Inc said on Friday it would buy grocer Whole Foods Market Inc for $13.7 billion in a move that gives the online retailer a physical network of stores to distribute fresh food and other goods to millennials and wealthy consumers.Amazon, which is known for squeezing suppliers and has been experimenting with its own outlets, will take over a natural and organic grocer pioneer brimming with 456 stores and ...

16 Jun 6:33 PM 0 Read More...

Yellen says Fed to give banks more details on stress tests

NEW YORK and WASHINGTON The Federal Reserve will give banks more details on how it conducts annual stress tests, including the qualitative part of the tests, when it publishes the results later this month, Chair Janet Yellen said Friday in a letter to Congress.The Federal Reserve will provide specific examples from past years' problems with banks' capital planning practices, Yellen said in a letter dated June 16,...

16 Jun 6:33 PM 0 Read More...