The company has announced that will sell its camera business to Japan Industrial Partners (JIP), the same company that purchased Sony’s VAIO PC division (via The Verge). Olympus will now focus on its much larger business supplying industrial and medical imaging equipment.
-- Steve Dent, Engadget
The Manheim used vehicle price index hit a record in mid-June, rising about 4% year over year, 7% compared with the May reading, and surging more than 16% compared with the April pandemic-induced low.
-- Al Root, Barron's
I purchased a 2016 vehicle with 20,000 miles from CarMax in October for $23,000. At the time, there were half-a-dozen versions of this particular vehicle available, all over the pacific northwest. This same search in June netted just a single example of this vehicle, and it was a 2015 model with 39,000 miles, also priced at $23,000.
Sure enough, restaurant chains most exposed to breakfast are struggling more than others. Shares of Starbucks and Dunkin’ Brands Group are both down about 13% in 2020, while Domino's Pizza — not usually breakfast fare — is the best-performing restaurant stock, up 29% on the year. Papa John’s and Chipotle Mexican Grill come in second and third, with year-to-date gains of 27% and 22%, respectively. McDonald’s stock is down 4% on the year.
-- Teresa Rivas, Barron's
The company said it plans to close up to 400 stores in the US and Canada over the next 18 months, while at the same time adding carryout and pick-up only locations.
-- Chauncey Alcorn, CNN Business
The chain of 3,200 stores said about 150 stores in the U.S. and Canada and 80 in the UK that were temporarily closed during the pandemic won’t reopen. An additional 150 stores will close as leases are reviewed and negotiations with landlords continue.
-- Maria Halkias, Dallas Morning News
Target, which is headquartered in Minneapolis, was not chosen at random. Twin Cities locals explained the reasoning behind keying in on the chain on social media, which includes a hiring discrimination lawsuit and a history of funding and supporting local police.
-- Mónica Marie Zorrilla, Ad Week
-- Jordan Valinsky, CNN Business
JDE Peet's, the owner of Peet's Coffee, gave Europe's depressed IPO market a shot in the arm on Friday, raising €2.25 billion ($2.5 billion) in an Amsterdam listing that valued the firm at €15.6 billion ($17.3 billion).
-- Hanna Ziady, CNN Business
The American Edge Project, which has not yet launched, argues that Silicon Valley is essential for the U.S. economy and the future of free speech.
-- Rebecca Bellan, Forbes
In addition, unlike other events, the industry will also experience falls in investment portfolios of an estimated $96bn, bringing the total projected loss to the insurance industry to $203bn
-- Elliot Smith, CNBC