Business

A Porsche that was expected to sell for over $20 million flopped on the auction block Saturday night, after the sale was thrown into disarray by a technical error. The car, a 1939 Porsche “Type 64” that was already facing controversy in the collecting world, hit the auction block Saturday night at RM Sotheby’s in
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Farfetch shares sank 45% Friday, after the luxury e-commerce company said it planned to acquire New Guards Groups, owner of popular streetwear brand Off-White, for $675 million. One analyst attributed the stock’s plunge to its shift in strategy, saying many investors had initially bought into the company’s “asset-light” approach. “The original idea of buying into
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In this photo illustration, a container of Johnson’s baby powder made by Johnson and Johnson sits on a table in San Francisco, California. Justin Sullivan | Getty Images A jury in Kentucky rejected claims that Johnson & Johnson‘s talc-based baby powder contained asbestos and caused mesothelioma, the company said in a statement, a win for
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Workers sewing in a clothing factory in Bozhou, east China’s Anhui province. STR | AFP | Getty Images China’s manufacturing activity contracted in July, according to results of a private survey released on Thursday. The Caixin/Markit factory Purchasing Managers’ Index for was 49.9 — slightly better than expected. Analysts polled by Reuters had expected the indicator
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The consumer and industrial economies are telling conflicting tales this earnings season, and it could be enough to trigger a change in Federal Reserve policy, CNBC’s Jim Cramer said Thursday. “The industrial economy is so weak that [Fed Chair] Jay Powell now has plenty of ammo to justify cutting interest rates,” he said. “And if
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Billionaire Jeffrey Epstein in Cambridge, MA in 2004. Epstein is connected with several prominent people including politicians, actors and academics. Rick Friedman | Corbis News | Getty Images Victoria’s Secret owner, L Brands, has hired outside counsel to review the company’s relationship with accused child sex trafficker Jeffrey Epstein, a company spokesperson said on Thursday.
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CNBC’s Jim Cramer on Tuesday warned viewers about the risks of relying on other people’s advice to invest in the stock market. The “Mad Money” host suggests understanding your own investing goals and priorities before deciding to follow the lead of a big-time money manager, pointing to the bearish outlook and “terrifying statements” Bridgewater Associates
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