Business

Aug
18
2021
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By Troy Warren
Target reports strong in-store sales as online sales come back to earth

Target reports strong in-store sales as online sales come back to earth

Business, In The News,
By The Associated Press Troy Warren for CNT #Business Target’s streak of strong results extended into its latest quarter, but its skyrocketing online sales growth has come back to earth. The Minneapolis retailer reported Wednesday that sales at its stores that have been open for at least a year rose 8.7% in the three-month period that ended July 31. That was on top of a 10.9% growth in the same 2020 span. And like Walmart, Target saw a slowdown from last year’s blistering online sales growth as more shoppers came out of their pandemic-forced isolation. Target’s online sales rose 10% its…
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Aug
18
2021
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By Troy Warren
Some customers’ personal data exposed in T-Mobile breach

Some customers’ personal data exposed in T-Mobile breach

Business, Digital, In The News, ,
By The Associated Press Troy Warren for CNT #Business NEW YORK — The names, Social Security numbers and information from driver’s licenses or other identification of just over 40 million former and prospective customers that applied for T-Mobile credit were exposed in a recent data breach, the company said Wednesday. The same data for about 7.8 million current T-Mobile postpaid customers appears to be compromised. No phone numbers, account numbers, PINs, passwords or financial information from the nearly 50 million records and accounts were compromised, it said. T-Mobile also confirmed that about 850,000 active T-Mobile prepaid customer names, phone numbers and…
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Aug
18
2021
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By Troy Warren
People now spend more at Amazon than at Walmart

People now spend more at Amazon than at Walmart

Business, Editors Picks, In The News, ,
By Karen Weise - The New York Times Michael Corkery - The New York Times Troy Warren for CNT #Business SEATTLE — Amazon has eclipsed Walmart to become the world’s largest retail seller outside China, according to corporate and industry data, a milestone in the shift from brick-and-mortar to online shopping that has changed how people buy everything from Teddy Grahams to teddy bears. Propelled in part by surging demand during the pandemic, people spent more than $610 billion on Amazon over the 12 months ending in June, according to Wall Street estimates compiled by the financial research firm FactSet. Walmart on Tuesday…
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Aug
17
2021
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By Troy Warren
Home Depot sales climb again, but DIY frenzy may be cooling

Home Depot sales climb again, but DIY frenzy may be cooling

Business, Home & Garden, In The News, ,
By MICHELLE CHAPMAN, Associated Press Troy Warren for CNT #Business #HomeGarden Home Depot’s sales continue to surge, though same-store sales appeared to come back to earth after a year in which the home improvement chain outperformed expectations repeatedly. For the three months ended Aug. 1, sales climbed to $41.12 billion from $38.05 billion. Chairman and CEO Craig Menea said in a prepared statement Tuesday that this was the first time the chain surpassed quarterly sales of more than $40 billion. Revenue also surpassed the $40.71 billion analysts were expecting, according to a survey by Zacks Investment Research. However, sales at stores open…
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Aug
16
2021
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By Troy Warren
Blue Origin sues NASA over plan to go with SpaceX for Artemis moon mission

Blue Origin sues NASA over plan to go with SpaceX for Artemis moon mission

Business, Technology, , , ,
Alexandra Garrett,  Carrie Mihalcik | CNET.Com Troy Warren for CNT #Technology #Business Jeff Bezos' space company is escalating its fight with the US space agency. Blue Origin, the space company owned by Amazon founder Jeff Bezos, filed a complaint Monday in federal court against NASA. The lawsuit escalates Blue Origin's protest that NASA unjustly granted a lunar landing contract earlier this year to Elon Musk's SpaceX.  "This bid protest challenges NASA's unlawful and improper evaluation of proposals," Blue Origin's lawyers wrote in its court filing. The sealed complaint was filed in the US Court of Federal Claims. NASA previously selected SpaceX as the sole…
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Aug
16
2021
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By Troy Warren
Hyatt To Acquire Apple Leisure Group, Doubling Global Resorts Footprint

Hyatt To Acquire Apple Leisure Group, Doubling Global Resorts Footprint

Business, Travel, ,
LAURIE BARATTI | TravelPulse.Com Troy Warren for CNT #Travel #Business Hyatt Hotels Corporation announced that it has entered into a definitive agreement to acquire leading North American resort-management, travel and hospitality group Apple Leisure Group (ALG) for a cash amount of $2.7 billion. The purchase from affiliates of capital market company KKR and private equity company KSL Capital Partners, LLC, is expected to close in the fourth quarter of this year, subject to customary closing conditions. ALG’s resort brand management platform, AMResorts, supplies management services to the largest portfolio of luxury, all-inclusive resorts in the Americas under its AMR Collection label. The…
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Aug
14
2021
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By Troy Warren
Wendy’s to open 700 delivery-only kitchens by 2025 with Reef Technology

Wendy’s to open 700 delivery-only kitchens by 2025 with Reef Technology

Business, Foodie, In The News, , ,
By The Associated Press Troy Warren for CNT #Foodie Wendy’s plans to open 700 delivery-only kitchens by 2025 to meet the growing demand from people who want their fast food brought to them. The kitchens will primarily operate in urban neighborhoods in the U.S., Canada and the United Kingdom, Wendy’s said. The hamburger chain will open its first 50 delivery kitchens this year. Dublin, Ohio-based Wendy’s is partnering with Reef Technology Inc., a Miami company that runs 5,000 delivery kitchens in 30 cities worldwide. In a conference call with investors Wednesday, Wendy’s President and CEO Todd Penegor said Reef will build…
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Aug
13
2021
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By Troy Warren
Emma Stone Closes Deal for ‘Cruella 2’ In Wake of ‘Black Widow’ Lawsuit

Emma Stone Closes Deal for ‘Cruella 2’ In Wake of ‘Black Widow’ Lawsuit

Business, Entertainment, , ,
BY MIA GALUPPO | HollywoodReporter.Com Troy Warren for CNT #Entertainment #Business To date, the film has earned $85 million at the domestic box office and $221 million at the global. Emma Stone has closed a deal to star in the sequel to Disney+ release Cruella. The move is significant being that it comes amid the turmoil caused by Scarlett Johansson’s lawsuit against Disney over her compensation for Black Widow, which like Cruella, debuted day-and-date in theaters and on Disney+. Johansson’s lawsuit alleges that her contract was breached when the Marvel movie was released on Disney+ day-and-date. After its filing, Disney retorted with a strong statement, calling the…
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Aug
12
2021
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By Troy Warren
Verizon Adds Free AMC+ for Customers With Some Unlimited Plans

Verizon Adds Free AMC+ for Customers With Some Unlimited Plans

Business, Digital, ,
BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business #Digital AMC+ joins Disney+, Discovery+ and Apple Music as one of the streaming services being offered for free to some subscribers. Verizon continues to add free access to new streaming services to customers of some of its unlimited plans. On Thursday, the telecom giant said that it would offer up to 12 free months of AMC+ to new Fios subscribers and to customers who buy a smartphone on a new line with select unlimited plans. Existing customers on those plans can get six free months. AMC+ offers series and movies from parent company AMC Networks,…
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Aug
11
2021
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By Troy Warren
Amazon’s MGM Takeover: Labor Coalition Lobbies FTC to Halt Deal (Exclusive)

Amazon’s MGM Takeover: Labor Coalition Lobbies FTC to Halt Deal (Exclusive)

Business, Editors Picks, Entertainment, ,
BY ALEX WEPRIN | HollywoodReporter.Com Troy Warren for CNT #Business #EditorsPicks #Entertainment The Strategic Organizing Center, which includes the Teamsters and CWA, sent a letter to the agency over the $8.45 billion studio acquisition, saying it would create "harmful vertical integration in the film industry at large." As the Federal Trade Commission examines Amazon’s proposed $8.45 billion buy of MGM, pressure from unions and progressive politicians is mounting on the regulator to take action, either by blocking the deal or requiring the company to abide by conditions such as decoupling Amazon Prime Video from the rest of Prime to secure approval. The latest…
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