Apple is planning to help its wireless carrier partners subsidize the costs of cutting the iPhone XR price in Japan, The Wall Street Journal said on Thursday. It’s the latest signal the iPhone XR isn’t selling as well as expected. Earlier this month, Nikkei reported that Apple had asked suppliers to cancel plans to boost
Business
For Mackenzi Farquer, Small Business Saturday is a big deal. The owner of Queens, New York-based Lockwood gift shop, which sells kitchenware, clothing and paper goods, says often there’s barely room to stand in her locations on the retail holiday, sandwiched in between Black Friday and Cyber Monday. “It’s our busiest day of the year,”
Shoppers weren’t afraid to pull out their smartphones to shop on Thanksgiving, to the tune of $1 billion. Sales online Thanksgiving Day totaled $3.7 billion, up 28 percent from a year ago, Adobe Analytics said in a report. That makes Thursday the fastest-growing day for e-commerce sales in history, added the firm, which tracks transactions
Autodesk this week agreed to buy construction software company PlanGrid for $875 million. The San Francisco-based start-up previously raised $69 million in funding from investors including YCombinator, Sequoia Capital and Tenaya Capital. PlanGrid enables real-time construction tracking for contractors and and architects. Autodesk “makes software for people who make things.” Beijing-based robotics company Geek+ completed
Lowe’s on Friday told shoppers its website was “down for maintenance” on one of the biggest holidays of the year. Tweet The retailer told shoppers on Twitter the website would be available soon. Some frustrated shoppers said they were were going to rivals like Sears or Home Depot. Tweet Tweet Lowe’s was not the only
The inside of Sears at the Galleria White Plains mall on Black Friday looked mostly the same as it has for the past few years. Yellow tags highlighted doorbuster sales. Rows of washers and dryers stood gleaming. Sparkling Christmas ornaments were on display. But the glaring omission at 7:00 a.m., an hour after opening, were
European stocks are set to open slightly higher Friday morning, as investors cautiously managed hopes for progress in Brexit negotiations. The FTSE 100 is seen little changed from the previous session at 6,963, the CAC is expected to open up around 4 points at 4,942 while the DAX is poised to start 18 points higher
Expect a photo opportunity, a “mock deal,” and temporary market relief from the much-touted meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 meeting, an economist said on Friday. “We don’t think this deal will be engineering a long-term truce between the two countries,” Bo Zhuang, chief economist and
When its Thanksgiving Day Parade ends, the real work begins for Macy’s. The department store chain has much to prove during the holidays if it wants to keep the momentum, generated by its latest turnaround plans, going strong. Macy’s shares had rallied more than 80 percent over a 12-month period heading into its third-quarter earnings
An Abu Dhabi sovereign wealth fund is suing Goldman Sachs over an alleged conspiracy involving Malaysia’s 1MDB fund. International Petroleum Investment Company (IPIC) and its subsidiary Aabar Investments filed a lawsuit against the investment bank at New York state court on Wednesday. The court summons states that the firms are seeking “damages and other appropriate
On a stage in front of a few hundred people, nervous entrepreneurs prepare to pitch their business ideas to a panel of five “sharks” — seasoned investors and veterans of Middle East business — in hopes of getting funding. “I’m looking for something disruptive in the marketplace,” Ganesh Iyer, one of the sharks and a
First it was Vine, then Yik Yak, then HQ Trivia: Mobile apps that shot up in downloads and took the digital world by storm. Almost just as suddenly, they all fell from public favor and off the top charts. TikTok, the latest app to skyrocket in popularity, recently unseated Instagram, YouTube and Snapchat as the
Iconic off-road automaker Land Rover is sprucing up a model that has become one of hottest sellers in the rapidly growing luxury compact sport utility vehicle segment. When the Range Rover Evoque makes its global debut on Thursday, it will be the first time the popular and relatively affordable vehicle has been refreshed since 2015.
GameStop announced Wednesday it agreed to sell its Spring Mobile business for $700 million. The stock spiked 15 percent on the news. Prime Communications, L.P. will buy Spring Mobile, which owns and operates 1,289 AT&T wireless stores, according to a press release announcing the news. The deal is expected to close in the fourth quarter
Amazon bought PillPack, an internet pharmacy start-up, earlier this year, leading to speculation that the e-retailer will soon start selling prescription drugs on its marketplace. Before that happens, Amazon may be preparing to provide the service to its own employees. PillPack recently applied for a string of new pharmacy licenses, primarily to ship drugs to
More retailers will be using deep discounts to lure shoppers into stores this holiday season. It’s good news for consumers, but could mean bad news for businesses. Roughly 63 percent of merchandise at department stores like Macy’s and Lord & Taylor will be discounted this year, up from 60 percent last year, according to a
When Sarah Guinn and her family walked into terminal three at Chicago’s O’Hare Airport Wednesday morning, she was pleasantly surprised. “It is pretty calm,” said Guinn, who was flying to Denver for Thanksgiving. “We got here earlier than we needed to I think. You don’t want to get stuck, we got stuck once so we
Autodesk shares jumped as much as 13 percent on Wednesday after the maker of design software reported better-than-expected quarterly results. The stock climbed $12.41 to $135.46 as of mid-afternoon after reaching as high as $139.40. Even with today’s rally, the shares are down more than 12 percent since the end of August amid a broader
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019 — down from the investment bank’s previous forecast of $83.50 a barrel. Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part
Riot Blockchain, the cryptocurrency company whose stock skyrocketed after changing its name, revealed that the Securities and Exchange Commission subpoena and investigation are “still ongoing,” according to its most recent quarterly filing. The company had previously disclosed that the subpoena received on April 9 was “pursuant to a formal order of investigation,” according to its
If Booster Fuels CEO Frank Mycroft has his way, gas stations will one day be obsolete. His start-up, founded in 2014, is filling up cars in parking lots, so drivers don’t have to wait in lines or make extra trips. Booster is now operating across twenty U.S. cities, and in the parking lots of at
Apple is snapping. The stock, once a safe haven from market turmoil, is more than 20 percent below all-time highs and clinging to modest year-to-date gains. The stock has shed more than a $100 billion of its historic $1 trillion market valuation. It’s on pace for its eighth straight week of declines and its worst
Facebook is appealing a £500,000 ($639,255.40) fine from the U.K.’s privacy watchdog which claims the company failed to protect the privacy of at least 1 million U.K. users, the Financial Times first reported. Facebook’s appeal is based on the fact that the U.K. Information Commissioner’s Office found no evidence British data was shared with Cambridge
Gap Inc. is considering shutting hundreds of its namesake stores at shopping malls as sales at the Gap brand continue to slide. The retailer said Tuesday evening that it still has 775 Gap-branded stores globally, in addition to those under the Old Navy, Banana Republic and Athleta banners. Gap Inc. has more than 3,000 stores
Foxconn, the company that assembles most of Apple’s iPhones, is now wrapped up in the latest round of iPhone supply chain rumors after a Bloomberg report that the manufacturer is cutting costs ahead of a “very difficult and competitive year.” Foxconn is preparing to cut expenses in its iPhone assembly unit and to cut workforce,
When Google CEO Sundar Pichai handed Diane Greene the keys to the company’s fledgling cloud business three years ago, it was supposed to mark the internet company’s arrival into enterprise computing. For years, Google had struggled to get out of its own way in business software, hamstrung by a developer-centric culture that prioritized automation and
Amid volatility in the stock market, the default advice is often to do nothing. However, as the longest bull market in history possibly wanes — with this week erasing 2018’s gains — it can be helpful to turn your attention to your own timeline. “If you have 40 years left to invest, a bear market
Consumer sentiment for November fell more than anticipated in the final reading of the month, although the index remained near record highs. The University of Michigan’s monthly survey of consumers slipped to 97.5 in final November reading, more than the fall to 98.3 expected by economists surveyed by Refinitiv. The key economic indicator hit 98.6
Amazon exposed some customers’ names and emails due to a “technical error,” according to emails the company sent to affected customers. Several people shared screenshots of the emails online Wednesday morning. BetaNews first reported the incident. Tweet Tweet Tweet In a statement, Amazon said, “We have fixed the issue and informed customers who may have
Investing in bitcoin is not for the faint of heart, but over any given two-year period holders of the world’s biggest cryptocurrency have been rewarded, CryptoOracle partner Lou Kerner told CNBC on Wednesday. Kerner, whose venture capital firm supports what it calls the “decentralized digital economy,” has a much longer investment horizon. For example, he