Stocks of the new iPhone with Apple (NASDAQ:AAPL) seem to have been sold out within hours of the company’s website opening for pre-orders; significantly, deliveries have been postponed from next Friday to two weeks hence.
In a major refocus of its business in China, Home Depot (NYSE:HD) will likely close seven big box outlets in the country and reduce 850 jobs. The $160 million charge associated with the move is justified by the slowing Chinese economy, and the tendency of customers to get maintenance and repairs done by handymen rather than themselves.
Volkswagen’s (VLKAY.PK) moves to expand markets outside of troubled Europe have paid off – global sales have shot up 19 percent y-on-y driven by excellent growth in North America.
Starbucks (NASDAQ:SBUX) is experimenting with a ‘pop-up store’ (short-term, temporary sales space) in Japan that would serve the twin purposes of continuing brand presence with lower space requirement.
Investment firms that participated in a July 2008 conference are receiving unwelcome attention from the SEC in the way of subpoenas that seek to establish whether they benefited by trading on information provided at the conference by Henry Paulson, who was then the Treasury Secretary. GSO, now a unit Blackstone (NYSE:BX), and Taconic, among the attendees, may feel the heat.
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