Category: FINANCE
Walmart, Spirit Airlines, Netflix: Stocks That Defined the Week
Here are seven major companies whose stocks moved on the week’s news.
SEC Probe Looms Over Auditors’ Fastest-Growing Businesses
A conflict-of-interest investigation of accounting industry practices includes nonaudit services, such as those involving an electric-vehicle startup.
Apple Looks to Boost Production Outside China
The iPhone maker has told some of its suppliers that it wants to boost production outside China, citing Beijing’s strict anti-Covid policy among other reasons, and is giving India and Vietnam a closer look, people involved in the discussions said.
Housing Boom Is on Borrowed Time
Hot housing sales cooled a bit after mortgage rates rose, but the number of homes on the market remains relatively low and prices are generally holding up. It could be just a matter of time.
https://www.wsj.com/articles/housing-boom-is-on-borrowed-time-11653044580?mod=rss_markets_main
Surging Dollar Raises Possibility of Euro Parity
The euro’s slide against the dollar is breathing new life into a two-decade old question: Will this be the year the currencies reach parity?
Queen of ‘vampire facials’ expands skin-care empire to Manhattan
Celeb-favorite skin care expert Barbara Sturm — known to her fans as Dr. Sturm — will open her first full-scale, permanent Big Apple stores in prominent locations this fall.
https://nypost.com/2022/05/20/dr-sturm-expands-skin-care-empire-to-nyc/
Tech Rout May Take the Shine Off Cartier’s Owner
Investors would like Swiss luxury group Richemont to sell its loss-making online-fashion retailer. That is unlikely with technology stocks in the doldrums.
Ads from McDonald’s, Wendy’s and Burger King exaggerate size of burgers: suit
McDonald’s, Wendy’s and Burger King have been exaggerating the size of their burgers in ads, showing much fatter patties than what consumers actually get, according to two lawsuits. The most recent complaint, filed this week against McDonald’s and Wendy’s in the US Eastern District of New York, claims that the fast food giants use undercooked…
https://nypost.com/2022/05/19/mcdonalds-wendys-accused-of-exaggerating-burger-size-in-ads/
The Inflation Japan Wanted Is Finally Here, but Not for the Right Reasons
Nearly a decade after its central bank targeted 2% inflation, Japan finally reached its goal. But instead of celebration, the occasion prompted concern about the effects of high energy and raw-material costs.
China Unexpectedly Cuts Key Rate as Growth Crumbles
China’s central bank cut a benchmark interest rate, a shift that economists said would likely help the moribund housing market but bring only limited relief to the struggling economy.