BEIJING — Police beat workers protesting over a pay dispute at the biggest factory for Apple’s iPhone, whose new model is delayed by controls imposed as China tries to contain a surge in COVID-19 cases. foxconn 2354, +0.20%, the biggest contract assembler of smartphones and other electronics, is struggling to fill orders for the iPhone … Read more
Apple Computer Inc. brought Steve Jobs back to the company in 1997 and found amazing success, but that has led to a “Steve Jobs Syndrome” that convinces companies to bring back formerly successful top executives even as an academic study shows it may not be a good idea. The Walt Disney Co. DIS, +6.30% is … Read more
The shock decision by Qatar to ban beer sales in stadiums appeared to leave World Cup sponsor Budweiser scratching its head on Friday, as it acknowledged “circumstances beyond our control.” Qatar’s abrupt reversal came just two days before the tournament kicks off, reportedly prompting a snarky and now-deleted tweet of “Well, this is awkward …” … Read more
Nvidia Corp.’s financial results had a bit of a surprise for investors, and not on the good side — product inventories doubled to a record high as the chip company gears up for a questionable holiday season. Nvidia reported fiscal third-quarter revenue that was slightly better than analysts’ reduced expectations Wednesday, but the numbers weren’t … Read more
The numbers: Sales at retailers jumped 1.3% in October, signaling US consumers are still spending plenty of money despite efforts by the Federal Reserve to slow the economy. Retail sales were forecast to rise 1.2% last month, according to economists polled by The Wall Street Journal. That’s the biggest increase in eight months. Receipts rose … Read more
This has been quite a year for Berkshire Hathaway and CEO Warren Buffett. The conglomerate just disclosed its investments in other companies as of the end of the third quarter, and one name — and one industry — stands out. In its 13F filing with the the Securities and Exchange Commission on Nov. 14, Berkshire … Read more
According to Fed Reserve Gov. Christopher Waller and several strategistslast week’s softer-than-expected October CPI that sent the S&P 500 to its best level in five months was overdone. His words may be getting through as stock futures point to a softer start as the last full week before Thanksgiving kicks off. We’ll also get retail … Read more
Markets probably didn’t need another more brick on the 2022 wall of worries, but got one anyway as FTX, the world’s third largest crypto exchange, is teetering on a collapse that could upend already shaky broader risk appetite. Read: Sequoia on its FTX investment: Some surprise to the upside, and some surprise to the downside … Read more
Walt Disney Co. wrapped up its fiscal year with record sales and its best revenue growth in more than 25 years, but executives predicted much slower sales increases in the year ahead while missing expectations for fourth-quarter earnings and sales, sending shares down about 7 %Tuesday afternoon. disney SAY reported fiscal fourth-quarter net income of … Read more
President Joe Biden is expected to continue to work from his office Tuesday as he isolates for at least five days in accordance with Centers for Disease Control and Prevention guidelines for people who test positive for COVID. The President tested positive again on Monday in a ‘rebound’ case, a rare outcome of the antiviral … Read more