The man who killed one person and injured six in a supermarket knife attack in Hamburg was a “known Islamist”, police say. “He was known as an Islamist but not a jihadist,” police spokesman Andy Grote said, noting that the suspect also suffered from “psychological” issues. The man, a failed asylum seeker born in the … Read more
US retail giant Target’s chief executive Brian Cornell on Tuesday played down Amazon’s massive deal to acquire grocery chain Whole Foods, arguing that it “validates” his company’s business model. “It wasn’t a surprise that that deal took place,” Cornell told a forum at the Fortune Brainstorm Tech conference in Aspen, Colorado. “It really validates what … Read more
Amazon announced Friday that it will acquire Whole Foods Market, a grocery store chain, for 42 U. S. dollars per share, in an all-cash deal valued approximately at 13.7 billion U.S. dollars. Following the announcement, shares of Whole Foods spiked over 27 percent, while shares of the e-commerce giant rallied 3 percent. The deal is … Read more
The Snapchat owner was among the biggest losers after posting disapointing results for first quater Wall Street closed lower on Thursday, pulled down by lower-than-expected sales at major US department stores and a selloff in Snap. The Snapchat owner was among the biggest losers after the messaging app posted disappointing results for the first quarter. … Read more
More than 50 people including children were injured on Tuesday when a car bomb exploded outside a supermarket in Thailand’s insurgency-plagued south, police said, the largest attack for months on a civilian target there. The Muslim-majority border region has seethed with violence for over a decade as ethnic Malay insurgents battle the Buddhist-majority state for … Read more
At least 40 people were wounded Tuesday when a car bomb exploded outside a supermarket in Thailand’s insurgency-plagued south, police said, the largest attack for months on a civilian target in the troubled zone. The Muslim-majority border region has seethed with violence for over a decade as ethnic Malay insurgents battle the Buddhist-majority state for … Read more
U. S. discount retailer Dollar General Corp (DG.N) reported a 13.7 percent increase in quarterly sales on Thursday, helped by higher spending at its stores driven by strong demand for home products. Net income rose to $414.2 million or $1.49 per share, in the fourth quarter ended Feb. 3, from $376.2 million or $1.30 per … Read more
South African retailer Massmart reported an almost 16 percent rise in full-year profit on Thursday, as the firm controlled costs and closed some of its less profitable stores in a tough economic environment. Massmart, majority-owned by Wal-Mart Stores Inc, posted diluted headline earnings per share of 587.6 cents for the 12 months to end-December, compared … Read more
Wal-Mart Stores Inc (WMT. N) on Tuesday reported higher-than-expected U.S. sales, helped by more customer visits to its stores and accelerating online activity, and shares of the world’s largest retailer rose more than 3 percent. Investors shrugged off an 8 percent drop in gross profit margins stemming from Wal-Mart’s continued efforts to cut prices to … Read more
U. S. stock investors may look to a host of results from consumer-facing companies including Wal-Mart Stores Inc (WMT.N) next week for signs on whether the recent market rally has more room to run. The consumer names are among the last major companies of the S&P 500 earnings season to report, but the results will … Read more
For up to 16 hours a day, tomatoes, peppers, cucumbers and mangoes grown in Mexico flow north through a border checkpoint into Nogales, Arizona, helping to ensure a year-round supply of fresh produce across the United States. This is a city built on cross-border trade. Each year, some 330,000 trucks and 75,000 train cars carrying … Read more
Alibaba Executive Chairman Jack Ma met U. S. President-elect Donald Trump on Monday and laid out the Chinese e-commerce giant’s new plan to bring one million small U.S. businesses onto its platform to sell to Chinese consumers over the next five years, an Alibaba spokesman said. Alibaba Group Holding Ltd (BABA.N) expects the initiative to … Read more
Republicans in the U. S. Congress hope to convince President-elect Donald Trump to support an untested strategy of using the tax code to promote exports while slashing corporate taxes, framing it as a way to fulfill his campaign promises to restore blue-collar jobs. The plan would be one way to help Republican lawmakers reconcile their … Read more
South Korean prosecutors plan to investigate President Park Geun-hye early next week over Park’s biggest political scandal involving her longtime confidante Choi Soon-sil suspected of intervening in state affairs behind the scenes and peddling undue influence for personal gains. According to local media reports, a special investigative unit under the Seoul Central District Prosecutors’ Office … Read more