Still need a Mega Millions ticket? You might be able to buy one with your phone
Many Americans will be rushing today to grocery stores and gas stations to buy tickets for tonight’s big Mega Millions drawing with a $1.35 billion jackpot. But for Brandon Sansone, there’s no reason to head out in a last-minute panic: He can make all his lottery purchases without even looking up from his phone.Sansone is […]
Drug companies plan to raise prices on vital medicines to fund R&D, but they already spend more on shareholder returns
Drug companies planning to raise prices on cancer drugs and other life-saving treatments are justifying the move by claiming it’s necessary to fund research and development, but the claim rings hollow given that they spend more on shareholder rewards than on R&D, according to a new study. Accountable.US, a liberal-leaning consumer-advocacy group, found that in […]
Uniqlo owner’s shares slump after Q1 net profit falls 9.1%
Fast Retailing Co. shares 9983, -7.95% fell sharply Friday morning after its first-quarter net profit dropped 9.1% from a year earlier due to higher costs and weaker sales in China. The shares were recently 6.9% lower at 74,340 yen after falling as much as 7.1% earlier. The owner of Uniqlo said that net profit for […]
The housing market is showing signs of ‘normalizing’ and IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar
Hi, MarketWatchers. Don’t miss these top stories.IRS says ‘Tax Day’ will be different this year — put these important tax dates on your calendar Two thirds of households received income-tax refunds last year, IRS statistics show. Read More U.S. mortgage rates slip, giving some relief to homebuyers The 30-year mortgage rate is averaging at 6.33%, […]
Reparations for Black Americans ‘could finally lead to closure’: Sandy Darity
Black Americans whose ancestors were enslaved have been excluded from full citizenship in the United States for the last 247 years — and granting them full citizenship will cost between $13 trillion and $14 trillion, economist William “Sandy” Darity told a conference of fellow U.S. economists last week. To see the impact of second-class citizenship […]
Labor board upholds Amazon union victory at Staten Island warehouse, after months of wrangling
A U.S. labor representative on Wednesday dismissed Amazon.com Inc.’s objections to a historic union-election victory at a warehouse in Staten Island, N.Y. last year, following months of aggressive efforts by the online retailer to squash the organizing effort. Amazon said it would appeal the decision, which came from a regional director of the National Labor […]
JD Sports Fashion sees 2023 profit at the higher end of expectations after stronger Christmas sales
JD Sports Fashion PLC said Wednesday that it expects to report fiscal 2023 adjusted pretax profit toward the top end of market expectations after it booked a strong performance during the Christmas period. The sports-and-fashion retailer JD, +6.42% said that for the fiscal year ending Jan. 28 it expects to report adjusted pretax profit in […]
Powell’s in Sweden. Rates Will Likely Go Higher Still Despite Companies’ Pain.
Investors looking at Federal Reserve Chairman Jerome Powell’s speech at a conference at Sweden’s Riksbank Tuesday will be tempted to carefully parse his words for any hint as to when the interest-rate increases will stop. There will probably be less nuance to his remarks than first appears. Powell will certainly utter a few on-the-one-hand, and […]
Walgreens may have ‘cried too much last year’ about theft, CFO says
After worries in the retail world about a rise in theft, at least one company — Walgreens Boots Alliance Inc. — said it may have been overreacting. “ ‘Maybe we cried too much last year when we were hitting numbers that were 3.5% of sales.’ ” — James Kehoe, CFO of Walgreens The drugstore chain’s […]
Globalization is not dead, but it is facing a big tail-risk, expert says
Reports that globalization is dead are overstated, a top economist says. Conventional wisdom has it that globalization will suffer in the aftermath of the pandemic and Russia’s war in Ukraine. The Biden White House’s move to reshore manufacturing and to deny China access to advanced technologies are seen as further steps away from a robust […]