Jeff Bezos' parents invested nearly $250,000 in Amazon — they might be worth $30 billion today

Jeff Bezos is the richest person alive. And, thanks to him, his parents might not be far be behind. A 1997 SEC filing unearthed by Bloomberg Tuesday finds that Jackie and Mike Bezos invested $245,573 in Amazon in 1995. If they kept their holdings, Bloomberg estimates their shares could be worth $30 billion today. It’s not known how much stock […]

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Euro zone factory growth subdued on trade fears, rising prices: PMI

LONDON (Reuters) – Euro zone manufacturing growth remained subdued in July as worries about trade tensions, tariffs and rising prices kept optimism in check, a survey showed on Wednesday. IHS Markit’s July final manufacturing Purchasing Managers’ Index only nudged up to 55.1 from June’s 18-month low of 54.9, unchanged from an initial reading and still comfortably above the 50 level […]

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Kroger’s New Plan, but Does Anyone Want Groceries Delivered?

Kroger Co. (NYSE: K), the massive U.S. grocery chain, has decided it wants to expand further into the grocery delivery service. The primary challenge to its new plan is that it gambles that a large number of people want their groceries delivered. They may not. The new program is called Ship. It allows consumers to order groceries online and have […]

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Young people are less likely to hold summer jobs now—here's what they're doing instead

When Warren Buffett was six years old, he spent his summer selling sticks of gum and bottles of Coca-Cola. When Bill Gates was 16, he spent the summer working as a Congressional page. When Jeff Bezos was 16, he spent the summer flipping burgers for McDonalds. Summer jobs have been a part of the American success story for decades, but […]

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Dimming UK services growth raises questions over BoE hike: PMI

LONDON (Reuters) – Growth in British services companies slowed in July by much more than expected, potentially raising further questions about the Bank of England’s decision to raise interest rates, a survey showed on Friday. FILE PHOTO: People walk along the high street in Salisbury, Britain, June 22, 2018. REUTERS/Toby Melville/File PhotoThe IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI), […]

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Tesla Makes GM Bolt Irrelevant

General Motors Co. (NYSE: GM) desperately wants into the electric car business, just like every other global car manufacturer. Its current stab at the business is the Chevy Bolt, but sales have been poor. Tesla Inc.’s (NASDAQ: TSLA) latest results and the ramp of production of its inexpensive Model 3 make the GM effort irrelevant. The Tesla Model 3 is […]

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Merck Q2 Profit Tops Estimates; Worldwide Sales Up 5%

Merck (MRK) reported second-quarter non-GAAP EPS of $1.06 compared to $1.01, prior year. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.03 for the quarter. Analysts’ estimates typically exclude special items. GAAP earnings per share were $0.63 compared to $0.71. Net income to Merck & Co. declined 12% year-over-year to $1.71 […]

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Largest City in Every State

Since 1950, the population of the United States has more than doubled to about 327 million people, making America the third-most populous nation on Earth. As the U.S. population climbed through births and immigration, trends emerged that fit the era. Much of the increase has been in the suburbs throughout the latter part of the 20th century, as families and […]

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Tesla Plans $5 Billion Investment in Chinese Factory

Tesla Inc. plans to invest $5 billion building a factory in China as the trade war with the U.S. makes establishing production in the world’s fastest-growing auto market more imperative for the electric-car pioneer, a person familiar with the matter said. The company is considering raising funds in China to finance at least a portion of the investment for the […]

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