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Facebook Inc on Thursday launched a catalog feature for its WhatsApp messaging app, it said in a blog post, building out the service's e-commerce tools as it moves slowly toward monetizing the app it bought in 2014 for $19 billion. Facebook has been trying to boost revenue from higher-growth units like Instagram and Whatsapp, which has 1.5 billion users. The move comes after Facebook added a shopping feature to Instagram in March that lets users click a "checkout" option on items tagged for sale and pay for them directly within the app....
An important court ruling Monday in the first corruption trial of former Malaysian leader Najib Razak will be a test of the legal system and of the credibility of the prime minister who brought about his shocking ouster from office last year. Najib is charged in five separate cases over the alleged billion-dollar looting of the 1MDB fund that was supposed to finance development in his country. Najib's first trial began in April on seven graft charges related to 42 million ringgit ($10.1 million) that allegedly went into his bank accounts from a former 1MDB unit....
A judge Thursday ordered President Donald Trump to pay $2 million to an array of charities as a fine for misusing his own charitable foundation to further his political and business interests. New York state Judge Saliann Scarpulla imposed the penalty after the president admitted to a series of abuses outlined in a lawsuit brought against him last year by the New York attorney general's office. Among other things, Trump acknowledged in a legal filing that he allowed his presidential campaign staff to coordinate with the Trump Foundation in holding a fundraiser for veterans during the run-up to the 2016 Iowa caucuses....
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]...
(Bloomberg) -- The owner of Sears and Kmart is closing another 96 stores, renewing doubts about the department store chains’ long-term future.Transform Holdco LLC said in an emailed statement that it “has faced a difficult retail environment and other challenges” and is “pruning operations that have struggled due to increased competition and other factors.”The move will bring the number of Sears and Kmart locations down to 182. The company also announced $250 million of new capital from its owners, led by Eddie Lampert’s hedge fund ESL Investments Inc., along with a third-party investor.Details of the announcement were first reported by Reuters.The announcement shows that Sears, which struggled for years under the control of Lampert, is still withering as consumers move on from the chain. After purchasing Sears’s assets out of bankruptcy earlier this year, Lampert’s hedge fund and other owners have been shuttering stores by the dozens. They’ve also been embroiled...
Disney’s better-than-expected fiscal fourth quarter financial results and Gap’s c-suite shakeup will take the spotlight Friday....
