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THE WALL STREET JOURNAL

Cohen Sells Stake in Bed Bath & Beyond, Pressuring Shares

Billionaire investor Ryan Cohen cashed out his entire position in Bed Bath & Beyond this week, roughly five months after taking a major stake in the company and advocating for changes.... Read more...

U.S. Plans to Shift Bill for Covid Shots and Treatments to Insurers, Patients

The end of government underwriting of such medicines could lead to a windfall for drugmakers.... Read more...

Google Workers Press Company to Stop Collecting Abortion Data

A petition sent to CEO Sundar Pichai and signed by more than 650 employees also calls on Alphabet to remove search results for crisis pregnancy centers.... Read more...

Wait, When Did Everyone Start Using Apple Pay?

It took longer than expected for the iPhone to become a wallet. But the patience of Apple is slowly paying off.... Read more...

Streaming Tops Cable-TV Viewing for the First Time

Americans spent more of their TV-viewing time streaming content on services like Netflix, YouTube and HBO Max than they did watching cable TV, according to Nielsen.... Read more...

CNBC

Starbucks operating chief to depart as company eliminates role under 'reinvention'

Starbucks Chief Operating Officer John Culver is departing the company after two decades with the coffee chain.... Read more...

Madison Square Garden Entertainment explores possible spinoff that would include iconic NY arena

Madison Square Garden Entertainment announced Thursday it's exploring a spinoff of its live entertainment business.... Read more...

Kohl's cuts guidance, blaming inflation for softer sales from middle-income shoppers

Kohl's said its middle-income customers have been particularly pressured by higher inflation.... Read more...

Home Depot and Lowe's cite strong demand in earnings reports, but softening could be ahead

Even as homebuilder sentiment dropped, Home Depot and Lowe's saw continued strong demand from contractors.... Read more...

Taco Bell tests its own meat substitute ahead of Beyond Meat launch later this year

Taco Bell is testing a plant-based meat substitute made from soy and pea protein at its restaurants in Birmingham, Alabama.... Read more...

FINANCIAL TIMES

UK consumer confidence hits record low as household mood darkens

Retail sales figures reveal impact of cost of living crisis on shopping habits... Read more...

UK government borrows more than expected

Public finances improve in July from weak reading a month earlier... Read more...

The energy bills emergency has barely begun

Millions of British households are already on the brink — and the months-long squeeze is only just starting... Read more...

Salman Rushdie and the sacred right to irreverence

Following last week’s savage attack, Simon Schama argues that disrespect is essential for democracy and the author’s fight for free expression is for us all... Read more...

A winter energy reckoning looms for the west

World economic growth still requires fossil fuel production but long-term climate ambitions must stay in place... Read more...

FORTUNE

Ryan Cohen pockets $68 million profit on Bed Bath & Beyond trade

The sales came amid a surge in the struggling retailer’s shares this week, with the stock price more than quadrupling from a recent low in July. ... Read more...

Ryan Cohen drives a 27% drop in Bed Bath & Beyond shares by selling his entire stake

The company's stock slumped in late trading, on top of a 20% fall in Thursday’s regular session.... Read more...

Singapore could overtake Australia and Hong Kong to become Asia’s millionaire capital in less than a decade

The HSBC report comes as Singapore is seeing an influx of expats, money, and business. ... Read more...

Nutritionists are using a scale to measure how healthy foods are, with some surprising results

Is ice cream really healthier than a multigrain bagel? Experts say it’s more complicated than that... Read more...

Elon Musk complains about his $11 billion tax bill at a Republican donor event, tells GOP to stay out of people’s sex lives

On the same day, he tweeted that he supports the “left half of the Republican Party and the right half of the Democratic Party.” ... Read more...

FINANCIAL POST

UK stocks under pressure as economic outlook darkens

UK’s blue-chip stock index edged lower on Friday, and the domestically focused midcap index was set to end the week down as consumer sentiment hit a record low amid the cost-of-living crisis. The exporter-heavy FTSE 100 slipped 0.2% by 0715 GMT, with losses capped by sterling’s tumble to a four-week... Read more...

European Gas Set for Another Weekly Gain as Energy Pain Deepens

Natural gas in Europe headed for the longest run of weekly gains this year, intensifying the pain for industries and households, and threatening to push economies into recession.... Read more...

Ukraine Latest: More US Aid Coming; Russian Atomic Plant Tactics

The US is preparing $800 million in additional military aid to Ukraine, with an announcement possible as soon as Friday, Reuters reported. November’s G-20 meeting in Bali is shaping up as a showdown between Russian President Vladimir Putin and US President Joe Biden.... Read more...

Gold falls to three-week low on robust dollar, Fed rate-hike fears

Gold prices slipped to a three-week low on Friday and were set for their first weekly drop in five, as a stronger dollar and prospects of more rate hikes by the U.S. Federal Reserve dented bullion’s appeal. Spot gold was down 0.2% at $1,753.97 per ounce, as of 0706 GMT,... Read more...

Nigeria says sovereign fund made $366 million profit in 2021

LAGOS — Nigeria’s sovereign wealth fund recorded after tax profit of 153.8 billion naira ($366 million) in 2021, down 1.9% from the previous year, the vice president’s spokesman said. Laolu Akande said in a statement on Thursday that the head of Nigerian Sovereign Investment Authority (NSIA) had made a presentation... Read more...

Moneyweb

Rand dragged down by stronger dollar

In early trade the rand was at R16.92 against the dollar, down more than 0.2% on its previous close.... Read more...

Standard Bank reports record half-year headline earnings

Board approves interim dividend of 515 cents per share, at a pay-out ratio of 55%.... Read more...

Prosus to buy iFood stake from Just Eat Takeaway for up to 1.8bn euros

According to a Prosus statement announcing the deal, iFood is making around 70 million deliveries per month.... Read more...

Stocks slip as dollar climbs toward one-month high: markets wrap

Gold was at $1 755.32 an ounce, down 0.2%.... Read more...

Gold heads for weekly drop amid mixed signals from Fed officials

Spot gold fell as much as 0.4% to $1 751.91 an ounce.... Read more...

strategy+business

Does your culture fit your strategy?

Many companies launch transformations without understanding their own organizational culture or whether that culture will support the new strategic direction. To avoid this mistake, companies should formally assess their culture, using data to quantify its strengths, challenges, and potential areas of improvement.... Read more...

The letter of the law

Daniel Akst reads The Comfort Letter, by Arthur R.G. Solmssen, a 1975 novel about a lawyer, an empire builder, and a debt offering that sheds light on the complex obligations of professionals to clients, one another, and the rest of us.... Read more...

The second age of foundational technologies

The turmoil, technological change, and disruption the world is experiencing today have echoes of the great societal transformation of the period between 1890 and 1920. Kevin Maney argues that the advent of foundational technologies like digitization and AI spurs the rapid--and occasionally jolting--transformation of all industries.... Read more...

When it comes to changing culture, think small

Effective leaders know that long-term corporate success requires a strong organizational culture that is well aligned with purpose and strategy, and yet cultural barriers are still an impediment to large-scale transformation and growth for many companies. The University of Toronto's Roger Martin says the solution is not major culture... Read more...

Five ways to harness the power of purpose

Many corporate purpose statements are poorly constructed, vague, and don't bear much relationship to what a company does. Sally Blount and Paul Leinwand advise leaders on practical ways to connect purpose to their core business strategy.... Read more...

BUSINESS DAILY

Watchdog stops lawyers from price-fixing in court fight

Parliament amended Section 29 of the Competition Act in 2019, allowing punishment for...... Read more...

How Kenya will gain from UK trade pact

The United Kingdom (UK) has opened a window for Kenyan goods such as apparel and agricultural...... Read more...

Court bars Uhuru appointees to board of electricity agency

A court has temporarily barred eight members of the REREC Board of Directors from discharging...... Read more...

New parliament to review what hospitals will charge

The outgoing health team tasked the 13th Parliament to take over the review of the general cost...... Read more...

Digital lenders move to court to challenge 20 percent excise tax

Digital lenders on Thursday moved to court seeking to revoke the 20 percent excise tax on loans...... Read more...
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