Business

Walmart wants to go viral with TikTok, Wall Street thinks it can

Wall Street was swift to see the rationale behind Walmart Inc jumping into the fray to buy TikTok – access to millions of young, digitally savvy users who could help the 60-year-old company boost its online sales. The retailer revealed plans to join Microsoft Corp in a bid for the social media firm’s U.S. assets […]

Business

Billionaire Fredriksen names Svelland head of holding firm Seatankers

OSLO – Norwegian-born billionaire John Fredriksen appointed a hedge fund manager on Friday as next head of his family’s key holding company, which controls assets ranging from oil tankers and rigs to real estate, fish farming and finance. Fredriksen, 76, said Tor Andre Svelland, 53, will become chief executive of Seatankers Group, top shareholder of […]

Business

Apple and Tesla are splitting their shares, but does it matter?

NEW YORK – Shares of Apple Inc (AAPL.O) and Tesla Inc (TSLA.O) will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need. Investors cheered the Apple and Tesla announcements, helping […]

Business

Boeing aims to increase Black employees by 20%, CEO says in memo

SEATTLE – Boeing Co (BA.N) is seeking to increase Black U.S. employees throughout the company by 20% and mandate benchmarks for hiring people of color, Chief Executive Dave Calhoun told employees in a memo on Friday. U.S. corporations have become more responsive to complaints related to racial equality following a summer of sweeping anti-racism protests […]

Business

Fed’s targeting of higher inflation could backfire, paper suggests

Targeting higher inflation, as the Federal Reserve suggested it would do in a revamp of its monetary policy strategy on Thursday, could end up slowing growth instead of boosting it unless the U.S. central bank’s message to households and businesses is carefully crafted and conveyed. That’s the conclusion of research presented on Friday at a […]

Business

Boeing finds flaws in fuselage of some Dreamliners; eight aircraft affected

Boeing Co (BA.N) said on Friday that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section. The planemaker said it was conducting a review to find the root cause and has notified the U.S. Federal Aviation Administration. “We immediately contacted […]

Business

Yum China applies for Hong Kong debut amid U.S.-China tensions

Yum China Holdings Inc (YUMC.N) filed an application for a secondary listing in Hong Kong on Friday, a rising trend among some Chinese firms to list closer to home in a bid to mitigate risks from escalating U.S.-China tensions. The owner of KFC, Taco Bell and Pizza Hut restaurants in China expects the New York […]