In this article Alibaba Group Holding Ltd. will invest about $3.6 billion to increase its stake in Chinese grocery retailer Sun Art Retail Group Ltd., expanding its efforts in the sector as it pushes beyond traditional e-commerce. Alibaba will raise…
Read MoreCowen breaks down 8 key investing themes and 12 stocks to buy as the net worth of millennials quadruples over the next decade
Millennials share of the United States' net worth is expected to quadruple by 2030, Cowen's equity analyst, John Kernan, said in an October 14 research report. "Gen Z and Millennial consumers should grow to 70% of the global population by…
Read MoreThe vaccine race: Firms face unprecedented challenges
New York (CNN Business)The Covid-19 vaccine Pfizer is developing with Germany’s BioNTech will probably not be available for emergency use until after the US presidential election, the company said Friday. In an open letter published on the company’s web site,…
Read More27 Balducci’s, Kings Food supermarkets sold to Acme Markets in bankruptcy auction
A Balducci’s gourmet grocery in Rye Brook, N.Y. (Google Street View) More than two dozen Kings Food Markets and Balducci’s Food Lover’s Markets are being sold for $96.4 million in cash in a bankruptcy auction. Continue Reading Below Acme Markets, Inc.,…
Read MoreExpect a ‘dramatic fall’ in markets if U.S. election outcome is contested, warns Mark Mobius
The markets will not like a disputed U.S. election outcome, said Mark Mobius, a veteran investor and founding partner of Mobius Capital Partners. "You'll see a real correction or maybe a dramatic fall in the market. So that's a very,…
Read MoreTop World Bank Economist Says Financial Crisis Could Emerge From Pandemic
World Bank Chief Economist Carmen Reinhart said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. “This did not start as a financial crisis but it is morphing into…
Read MoreStocks making the biggest moves after hours: HPE, Intuitive Surgical, Marten Transport & more
Check out the companies making headlines after the bell: Del Taco Restaurants — Shares of Del Taco Restaurants surged nearly 9% after the Mexican restaurant chain reported better-than-expected quarterly earnings. The company posted an earnings per share of 16 cents…
Read MoreStock futures rise slightly after market suffers 3 straight days of losses
Stock futures rose slightly in overnight trading on Thursday as investors await the latest retail sales data. Futures on the Dow Jones Industrial Average gained about 70 points. The S&P 500 futures and the Nasdaq 100 futures both rose about…
Read MoreChina's Nio takes on Tesla
Hong Kong (CNN Business)China’s wannabe “Tesla killer” is on a wild ride. Just seven months ago, Shanghai-based electric vehicle maker Nio (NIO) was seen as a cautionary tale. Its stock had cratered to less than $3 a share in New…
Read MoreKenyan Economy Shrinks for First Time in 17 Years Due to Virus
Kenya’s economy contracted for the first time in almost two decades in the second quarter as the impact of the coronavirus pandemic battered key sectors. Gross domestic product fell 5.7%, compared with growth of 4.9% in the three months through…
Read More