Retailers ordered for a boom that never came
Target's operating margin fell to 3.9 per cent in the third quarter, from 8.6 per cent a year earlier, as the company cut prices hard to empty its warehouses.
Business
Special Report
Thanksgiving: Why your turkey cost 20% more
A classic Thanksgiving dinner for ten now costs an average of $64.05, according to the American Farm Bureau Federation's annual survey, twenty per cent more than it did a year ago.
Special Report
Singles' Day: Alibaba stops showing its numbers
Alibaba did not publish its Singles' Day sales total on 11 November 2022, the first time in the festival's fourteen-year history that it has kept the number to itself.
FTX spent its customers' money. That was the business
FTX filed for Chapter 11 bankruptcy on 11 November, and its collapse will go down as one of the most brazen balance-sheet frauds in modern business.
Meta's spending spree just cost it a quarter of its value
Meta Platforms' shares fell by twenty-four per cent on 27 October, wiping out eighty-five billion dollars of market value, after management said capital spending in 2023 would rise to between $34 billion and $39 billion.
Rich on paper, short of cash: the pension paradox
Britain's defined-benefit pension industry spent the past week learning the difference between being solvent and having cash.
Buybacks just got more expensive
Companies have enjoyed ten easy years of financial engineering. With interest rates at zero and interest payments tax-deductible, the playbook was simple.
