Chinese e-commerce giant Alibaba said on Thursday its quarterly revenue climbed 61 percent, beating analysts’ estimates, helped by growth in its core e-commerce business. The firm, headed by billionaire entrepreneur Jack Ma, posted 55.12 billion yuan ($8.34 billion) in revenue for the July-September quarter, above a 52.2 billion yuan forecast by analysts polled by Reuters.
Bombardier said on Thursday it received a letter of intent from a European customer to buy up to 61 CSeries jets, while reporting a larger loss for the third quarter. The Canadian plane and train maker said the letter of intent includes 31 firm orders and options for another 30 jets. Based on list prices,
Blue Apron‘s customer base is shrinking, but those who are staying are spending more. The number of customers Blue Apron served in the third quarter shrank 6 percent from a year earlier and 9 percent from the previous quarter. Average revenue per customer increased to $245 from $227 from the same time last year, but
A number of regulators have warned of illicit activity surrounding cryptocurrencies like bitcoin. In September, China banned a practice known as “initial coin offerings” (ICOs). An ICO is a crowdfunding method for firms to raise funds by selling new cryptocurrencies. China’s regulators also moved to close down domestic bitcoin exchanges later that month. Both measures
In a strong bull market, stocks can go much higher than many investors and analysts expect. “In a normal market, the disciplined thing to do is sell when you have a decent gain. But now that the economy’s healthier — synchronized global expansion — and the market’s roaring, there’s a new discipline,” Cramer said. “You
TipRanks, a service that ranks Wall Street analysts, identified the top analysts and found which stocks they like right now. We use a natural language processing algorithm to rank analysts based on two factors: Average return of buy-sell recommendations Success rate of buy-sell recommendations. TipRanks’ stock screener allows you to screen for “best analyst consensus”
Tesla shares fell Wednesday after the company posted a wider-than-expected loss as it spent heavily to ramp up production of its Model 3, its first mass market electric sedan. Complications with Tesla’s manufacturing processes have slowed production of the Model 3, a car widely considered key to Tesla’s future success. Hopes for the Model 3
Kohl’s is bringing out the sales for shoppers even earlier this holiday season. The department store retailer on Wednesday unveiled its holiday strategy, which includes more ways for shoppers to earn Kohl’s Cash, in-store deals on Cyber Monday and heavier Black Friday promotions starting this week. On the same day it introduced its holiday plans,
Amazon has secured three new domain names related to cryptocurrency, sparking speculation that the e-commerce giant could be preparing a move into the cryptocurrency space. However, Amazon Pay’s VP Patrick Gauthier told CNBC last month that Amazon had no plans to accept cryptocurrency because there hasn’t been much demand yet, and Amazon may simply be
Airport-like security screenings are not necessary for Amtrak or other rail travel, the new head of the Transportation Security Administration said Wednesday, speaking a day after eight people were killed in a truck attack in Lower Manhattan. “We don’t intend to roll out anything like what we have in the airports,” TSA Administrator David Pekoske
Qualcomm is set to report its fourth quarter earnings and revenue after the bell on Wednesday. Here’s how Wall Street expects the company to perform: Earnings per share of 81 cents, according to Thomson Reuters Revenue of $5.8 billion, according to Thomson Reuters Qualcomm is engaged in a costly legal battle with Apple over licensing
The heavy favorite to be named the next head of the U.S. central bank has indicated he isn’t against bitcoin, but isn’t embracing the idea of a central bank-issued digital currency. President Donald Trump is expected to announce his pick for the next Federal Reserve chair Thursday, and the latest reports indicate he is leaning
The personal finance site compared average expenses for people age 65 and older, including groceries, housing, utilities, transportation and health care in every state to come up with how long a nest egg of $1 million would really last. Top 5 states where your dollar will last the longest:1. Mississippi$1 million will last: 26 years,
The trick is knowing where to apply. Guy Cecala, publisher and chief executive officer of Inside Mortgage Finance, recommends comparing interest rate and underwriting information from a credit union, a big bank such as Wells Fargo or JPMorgan Chase, and a non-bank lender. “There’s nothing wrong with getting a loan from a non-bank,” Cecala said.
The market capitalization of all cryptocurrencies soared to a record high Wednesday, on the back of a jump in the price of bitcoin. The total value of the digital currencies topped $185 billion for the first time at around midday ET, according to data from industry website Coinmarketcap. Bitcoin, the world’s largest cryptocurrency, shot above
The latest GDP reading of 3 percent was surprisingly strong after the multiple hurricanes that hit the United States, while consumer confidence has hit a 17-year high, according to the Conference Board. A baseline bullishness has been in place throughout 2017. And the latest GDP number was released after the survey of million-dollar self-directed brokerage
We see people take “mini retirements” or “rolling retirements.” They’re no longer working up to a certain day, quitting and never picking up another job or role again. As they enter this new stage in life, they simply change what they want to do. And they’re free to do so because, again, they already did
Lucy Nicholson | Reuters Ken Griffin, founder and Chief Executive Officer of Citadel, speaks during the Milken Institute Global Conference in Beverly Hills, California, May 1, 2017. Billionaire businessman Ken Griffin is donating $125 million to the University of Chicago’s Department of Economics. The university announced Griffin’s gift Wednesday, saying it’s the second-largest in school
When it comes to auto-related bills, your credit score has mileage. CreditKarma.com, known for providing consumers with free access to their credit reports and scores, has begun an auto-assistant dashboard aiming to help drivers manage their vehicle finances. Among other features, members can check their DMV profile, view details of their loan or lease, gauge
Some individuals can write off LTC premiums if they exceed 10 percent of their adjusted gross income because premiums are considered medical expenses. If you are a W2-earning household with $200,000 adjusted gross income, you have to top $20,000 in medical expenses just to begin to write off some of your premiums. This is not
Everything at Sears and Kmart stores is going on sale ahead of the holidays. Everything. The troubled department store chain on Wednesday kicked off a promotional event that promises “first-of-their-kind” discounts ranging from 10 to 50 percent at Sears stores, and 10 to 40 percent at Kmart. Appliances at Sears will be as much as
EVERSOFINE | Getty Images Many of life’s downturns can be weathered if you’ve already managed to build yourself a strong financial foundation. I’ve seen many families lose everything because they didn’t have enough life insurance. I often hear about people who use their retirement investments to pay for unexpected expenses. I’ve talked with families stuck
Initially, Grab’s payment service will have zero MDR, according to Tan. That means merchants who accept payments via GrabPay will be able to add the full amount to their topline. “We want to make sure that merchants firstly understand what the product is, how it helps them and there’s zero cost to try,” said Tan.
Justin Sullivan | Getty Images The iPhone X is displayed during an Apple special event at the Steve Jobs Theatre on September 12, 2017 in Cupertino, California. Chinese consumers are picking up on the highly anticipated features not seen in previous iterations of the iPhone: Online, fans are saying that their favorite additions are the