As millennials step into becoming homeowners, Home Depot sees them ringing up more do-it-yourself projects at its stores. The retailer on Tuesday reported an impressive increase in same-store sales, fueled by more shoppers spending on items such as tools, lumber, garden accessories and flooring. Hurricanes Harvey and Irma, along with some U.S. wildfires, also boosted
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Financial technology firms in Africa are “complementing” the banking sector rather than disrupting it, an executive at Egypt’s biggest private-sector bank has said. Hisham Ezz Al-Arab, chairman of Commercial International Bank (CIB), said Tuesday that the lender was “ready” for a growing wave of fintechs that are shaking up the financial services with new technologies.
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One of the country’s greatest economic minds is questioning the value and role passive investing is playing in the bull market. Nobel Prize-winning economist Robert Shiller is seeing worrisome issues surrounding the growing popularity of index funds and ETFs among retail investors. “The strength of this country was built on people who watched individual companies.
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Wal-Mart is creating a home for luxury fashion online. The big-box retailer announced Monday it has partnered with Lord & Taylor to create an online “flagship store” for the apparel retailer. The landing page will launch on Walmart.com in spring 2018. “Our goal is to create a premium fashion destination on Walmart.com,” Denise Incandela, head
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The world’s biggest brewer, Anheuser-Busch InBev, is replacing the head of its North America business to stem a slide in sales in its largest market. AB InBev said Joao Castro Neves had decided to step down and his place would be taken on Jan. 1 by another Brazilian company veteran, Michel Doukeris, currently chief sales
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In early November, Beijing issued a new set of draft guidelines aimed to make outbound M&A easier. As part of those new rules, China is streamlining a process for domestic companies investing over $300 million overseas to gain the required approval from authorities, Reuters reported. Yet at the same time, Beijing will also increase oversight
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Bone mineralization is one of those lack-of-gravity problems. For each month in space, Logan says the human body loses 1 percent of its bone mass. And, once back on Earth, the bones don’t grow back. “I’m not trying to throw cold water on the idea of going to Mars. I want to make sure we
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One of Europe’s smallest countries now holds claim to being a giant in the space industry. Luxembourg, with a population less than the state of Vermont, now generates nearly 2 percent of its annual gross domestic product from the space industry, according to Deputy Prime Minister Etienne Schneider. The country’s economy checked in just shy
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Of the many alternative investments outside stocks and bonds that pension funds can buy, a few are putting retirement money into music copyrights. RPMI Railpen, the manager of one of the largest and oldest UK pension funds, is leading a $345 million investment in a fund rolled out Monday by Kobalt Capital, the subsidiary of
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Shares of Cambridge, Mass.-based biopharmaceutical company Sage Therapeutics are popping after the company announced positive results in trials for a drug that may someday be available to treat those with postpartum depression. The company is up more than 40 percent to $96.75 this week following two Phase 3 trials evaluating brexanolone. The drug, formerly known
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President Donald Trump has done a “fantastic job” of garnering trust on Wall Street through his business-friendly policies, billionaire Vincent Viola told CNBC on Friday. “Markets are driven by their perception of stability,” said Viola, founder of Virtu Financial, a high-speed trading giant, and Trump’s onetime nominee for secretary of the Army. “The perception of
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News Corp. blew past earnings expectations Thursday, as the company presses ahead with efforts to turn its print news publications, such as The Wall Street Journal, into digital-first operations. Here’s how the company did compared to what Wall Street expected: EPS: 7 cents vs. 1 cent expected, according to Thomson Reuters Revenue: $2.06 billion vs.
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The Walt Disney Company share gained after the company said it plans to price its streaming service “substantially below” that of Netflix. The company said, however, that its service will be cheaper because it will initially have a smaller library than what the streaming giant offers. Disney said its goal is to attract as many
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