(Mon) What to watch on Wall Street next week
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In the week ahead on Wall Street, the Apple of investors' eyes may be the new subscription TV service the iPhone maker will likely reveal at its headquarters on Tuesday. Apple TV Plus is expected to compete with Netflix, Amazon Prime Video and Disney's new streaming video service, among others. Apple teased a five-color version of its logo. That could imply it'll launch more colors for its new iPhone models. On the earnings front, look for Kroger to report a rise in quarterly sales on Thursday. Investors will be on the lookout for any comments the supermarket chain may make on its new gun policy . It's asking shoppers to stop openly carrying firearms into its stores. On Friday, Wall Street will get more details on the strength of the consumer. Retail sales growth in August is likely to have slowed to 0.2% from 0.7% the month before. Also that day, the University of Michigan's preliminary consumer sentiment index is expected to show a slight increase in September from August's dismal reading.
(Tue) As Porsche jumps in, fresh signs that electric autos are on the rise
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It's becoming a monthly ritual. The UK once again posting a fall in car sales on Thursday. Overall registrations were down 1.6 percent on the year. There's a big silver lining though. Sales of electric vehicles soared. They were up 377.5 percent, to be precise. Demand was spurred by new vehicles, including Tesla's more affordable Model 3. The news came just hours after another sign that EVs are coming of age. On Wednesday, Porsche launched its first car without a combustion engine . The Taycan has a claimed range of 450 kilometers, and will go head to head with Tesla's top priced offerings. Starting at about 151 thousand dollars in the U.S., it won't make a big dent in global car sales figures. But it's another sign that all carmakers now feel they have to go electric. That message is set to be hammered home next week too, when the Frankfurt Auto Show opens. Organizers say it will champion sustainable driving. They're looking to head off protests after an activist group smashed up 40 luxury vehicles and called for the show to be scrapped.
(Wed) Facebook launches U.S. dating service
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Already known for generating a long list of friends¡¦ Facebook now wants to help you make more than just friends. The company on Thursday launched ¡®Facebook Dating¡¯ in the United States. It allows users to bring their Instagram posts directly to their dating profile and to add Instagram followers, along with Facebook friends, to their Secret Crush lists. Facebook says there¡¯s no swiping or waiting for someone to reach out, like traditional dating apps. A 'Facebook Dating' user can comment directly on another user's profile. The company also pledged that privacy will be at the forefront of the product. This - coming just months after Facebook agreed to pay $5 billion to settle allegations from the U.S. Federal Trade Commission over privacy allegations. The news hurt shares of Match Group - the owner of dating app Tinder – pushing the stock down nearly 6%.
(Thu) The land of the car develops a taste for electric cargo bikes
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It's the land of BMW and Volkswagen, but Germans are ditching their cars and going green , by embracing electric cargo bikes. The demand for environmentally conscious trikes is so high that 40,000 of them were sold in Germany last year, as opposed to a mere 36,000 electric cars, despite government subsidies to help boost their sales. Cora Geissler has been selling the three-wheelers in Berlin for the past decade. "In driving a cargo bike you can make your way easier and faster. You find you don't need a parking space, you can go directly to your supermarket or the school or something and that makes it so easy. And it is cheaper compared to a car and more healthy when you drive it." Geissler says the demographic buying cargo bikes has shifted . In the early years customers were mainly small businesses with a delivery focus. But that's now changed to families looking to transport their kids, shopping and dogs in a hassle free way or replacing their second family car with a three-wheel alternative.
(Fri) WeWork adds woman to board
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After facing intense criticism - WeWork said Wednesday it's adding a woman to its all-male board of directors ahead of its highly anticipated IPO. The company tapping Harvard Business School Professor Frances Frei, who has been providing human resources consulting services to the company. The move comes two months after the last company on the S&P 500 without a female director added a woman to its board, making the all-male board a thing of the past among America's biggest publicly held corporations. We - WeWork's parent company - said it'll add another director to its board within a year of going public, saying it's committed to boosting the board's gender and ethnic diversity. The rental company that popularized the shared office space concept is expected to go public later this month. We also disclosed that its CEO, Adam Neumann, has given back the $5.9 million he was paid to acquire the trademarked word, "We."
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