Whole Foods Market opens first permanent online-only store for delivery orders

Whole Foods Market opens first permanent online-only store for delivery orders

There’s no salad or coffee bar at the newest Whole Foods Market.

The Amazon-owned grocery store chain is officially opening its first permanent online-only store in Brooklyn, New York, to fulfill orders for grocery delivery, Whole Foods officials shared exclusively with USA TODAY Tuesday. Like other retailers’ online-only stores, also known as dark stores, the store will not be open to the public.

On-demand grocery shopping for delivery and curbside pickup have grown in popularity in recent months amid the coronavirus pandemic as many shoppers look to make fewer trips into stores.

But this new store was already in the works pre-COVID-19, said Nicole Wescoe, Whole Foods president of the Northeast region, in an interview.

We started working on this over a year ago and it was really an opportunity for Amazon and Whole Foods Market to come together and create this vision for the future of grocery online,” Wescoe said.

The company gave USA TODAY a behind-the-scenes look at the new Broo..

JPMorgan (JPM) Stock Down 1.16% Now as Company Releases Poor Q1 2020 Earnings Report

JPMorgan (JPM) Stock Down 1.16% Now as Company Releases Poor Q1 2020 Earnings Report

The JPMorgan report shows that the coronavirus pandemic is a factor that is strong enough to significantly dent earnings. JPM stock is in the red now.

Figures have started coming, showing an idea of how the years first quarter has been. Because of the coronavirus pandemic, financial markets crashed quite terribly as normal activity ground to a halt. Some of the worlds largest stocks crashed and a lot of wealth owned by the richest people was lost. With all of these losses still in view, JPMorgan Chase & Co (NYSE: JPM), the largest bank in the U.S., has released a report, unsurprisingly disappointing estimates and investors.

Meanwhile, the JPM stock price is falling. At the time of writing, the stock is trading at $97.05 (-1.15%).

JPMorgans figures showed that the banks earnings were far less than general market estimates. For example, estimates put earnings per share at $1.84, much higher than JPMorgans reported 78 cents. Also, it announced a profit of $2.87 billion, whi..

BHP owners pocket record dividend

BHP owners pocket record dividend

BHP shareholders will pocket a record payout, the company announced this morning, bringing the total dividend to $6.7bn (£5.5bn).

The miner announced this morning that it would give shareholders an ordinary dividend of $1.33 per share.

However, the payout comes on top of a special dividend earlier this year, of $1.02 per share as the company decided to return $10.4bn to shareholders.

It came after BHP sold its oil fields in the Permian Basin to BP for $10.5bn last year.

Attributable profit grew 124 per cent to $8.3bn, the biggest in five years, while basic earnings per share rose 130 per cent to $1.603.

However, profit and dividend fell slightly short of expectations, sending shares in London down around two per cent to 1,746.2p.

“As a BHP shareholder you cant be too disappointed. Its been a great year for the company, they have made a lot of money,” Brenton Saunders at Pendal Group, a Sydney-based fund manager, told Reuters.

“Thats in a large part a function of commodity ma..

Bond yields fall as Trump calls for cut and ECB hints at stimulus

Bond yields fall as Trump calls for cut and ECB hints at stimulus

Yields on global bonds have fallen following a renewed call for interest rate cuts from US President Donald Trump and dovish words from European Central Bank (ECB) board member Olli Rehn.

Read more: Eurozone inflation falls to well below ECB target in July

Trump yesterday evening called for a 100 basis point (one percentage point) interest rate cut from the Federal Reserve “over a fairly short period of time”.

Investors attention has turned to both the release of the Fed minutes tomorrow, which will be parsed for signs of willingness to drop rates, and to chair Jay Powells speech at Jackson Hole, Wyoming on Friday, where he is expected to signal more stimulus ahead.

Finlands central bank governor Olli Rehn said yesterday evening that the ECB was determined to act if inflation stays stubbornly low. Eurozone inflation came in at just one per cent in July, well below the Banks target of close to two per cent.

He said: “A significant degree of monetary stimulus continues to be necessa..

Analysts and investors hopeful for record BHP dividend

Analysts and investors hopeful for record BHP dividend

Investors will flock straight to the dividend page tomorrow after miner BHP releases its annual results overnight, expected to reveal the highest annual dividend in the companys history.

Analysts had expected the dividend to reach around $2.36 for the full year 2019, up from $1.18 the year before, according to a consensus compiled by Vuma. The dividend includes a $1.02 special payout from January.

It would mark a rebound for the companys payout to shareholders, which was slashed by around a quarter in 2016 after the bottom fell out of the metals market.

Iron ore prices, one of BHPs key products along with copper and coal, ticked up earlier this year after 300 people died or went missing in a Brazilian mining accident.

BHPs share price rose after the disaster, hitting 2,049p in early July, up from 1,569p when the dam burst in January.

The dividend was boosted by a special payout after the company sold its shale assets in the US Permian Basin to BP for $10.5bn (£8.7bn) last year. ..

Finance bodies start talks to cut stock market trading hours

Finance bodies start talks to cut stock market trading hours

Banking and investment groups are working on proposals that could see stock market trading hours shortened across Europe.

The Investment Association (IA), which represents the UKs asset management industry, and the Association for Financial Markets in Europe (AFME), a banking lobby group, are planning to consult their members on plans to cut European trading hours, according to Financial News.

Opening equity markets an hour later and closing them an hour earlier is reported to be among the proposals being considered.

Read more: FTSE 100 and FTSE 250 reopen after glitch hits morning trading

City A.M. understands that work on the proposals is at a very early stage, and that no concrete plans have yet been made.

A spokesperson for the IA said the organisation “is taking a strong interest in culture across the investment management industry, from boardrooms to the trading floor, and how this can play a pivotal role in fostering good mental health and creating inclusive workplaces w..

Analysts’ fantasy? EPS downgrade begins, 20% may become zilch by March

Analysts’ fantasy? EPS downgrade begins, 20% may become zilch by March

Mumbai: Earnings downgrades continued for India Inc post June quarter earnings amid a demand slowdown, tepid economic growth and analysts over-optimism with their estimates.

And analysts say they do not see any respite anytime soon.

Kotak Institutional Equities expects net profit of Nifty50 companies to grow 15 per cent in FY2020, versus 24 per cent estimated at the beginning of the earnings season.

“Q1FY20 results did little to lift the gloom with many companies missing our already low expectations and guiding for weak demand conditions for another 2-3 quarters,” Kotak analysts said.

They pointed out that net profit of Nifty50 companies grew 1.8 per cent year-on-year in June quarter, 0.8 per cent above expectations, driven largely by banks. Ebitda or earnings before interest, tax, depreciation and amortisation declined 3.4 per cent. While financials have been largely faring well, auto, consumption and capital goods sectors have been suffering from weak demand and various secto..