WSJ.com: US Business

Uber and Lyft Win California Ruling to Treat Drivers as Contractors

The state’s Supreme Court decision preserves the gig-economy business model.

Hermes Bucks Luxury Slowdown With Higher Sales But Flags Weakness in China

The Birkin handbag maker reported higher sales for the second quarter, with wealthy customers helping it defy a global slowdown in demand that is troubling the luxury sector, but flagged signs of weakness in China.

Kroger, Albertsons Agree to Pause Merger as FTC, State Challenges Proceed

Deal between the two grocery-store operators has faced regulatory scrutiny since it was announced in October 2022.

Universal Music Sheds $13 Billion in Market Cap After Streaming Revenue Disappoints

The record label behind Taylor Swift, Billie Eilish and Ariana Grande posted revenue growth from subscriptions and streaming services well below what analysts had expected.

Standard General Agrees to Buy Out Bally

Hedge fund Standard General agreed to buy the balance of shares in casino chain Bally’s in a deal that values the firm at about $4.6 billion.

Southwest Airlines Is Ditching Open Seating on Flights

Under pressure to improve profits, Southwest plans big changes for the boarding of its flights as well as fliers who want premium seating.

How Kay Jewelers and Zales Are Trying to Convince You to Buy More Jewelry Online

The company is using data analytics and AI to tailor marketing messages to potential buyers at just the right time.

How Government Programs Help Fuel Tesla Profit

The electric carmaker benefited from a potent weapon for improving its income statement: regulatory credits.

Hyundai Motor Profit Jumped 25%, Led by U.S. Demand

Robust vehicle sales in the U.S. helped offset sluggish demand in South Korea and elsewhere.

Nissan Motor Cuts Sales, Profit Forecasts After Weak Quarter

The Japanese automaker lowered its annual vehicle-sales and profit forecasts.

Vodafone Says Earnings Outlook on Track After Revenue Rise

Vodafone reiterated its fiscal 2025 earnings guidance after it delivered higher revenue for the first quarter, boosted by strong growth in Africa and Turkey.

TotalEnergies Expects Flat Hydrocarbon Output

TotalEnergies said it expected third-quarter hydrocarbon production to remain largely unchanged from the second quarter, as it reported a fall in net profit for the three months to the end of June.

Unilever Boosted by Margin Improvements Despite Underlying Sales Miss

Unilever reported underlying sales growth in the first half that came in slightly below forecasts, but its shares rose as analysts cheered the improvement in its margins.

Anglo American Swings to Net Loss on One-Off Charge

Anglo American posted a net loss in the first half on lower iron ore prices and sales and after it booked an impairment of $1.6 billion related to its crop-nutrients project in the U.K.

Julius Baer Profits Fall, Miss Consensus Forecasts

Julius Baer reported lower profits for the first half of 2024 as a rise in client assets and activity was offset by higher interest expenses.

Stellantis Mulls Price Cuts As Bottom Line Misses Forecasts

Stellantis posted a steep drop in first-half net profit as its cars sat at dealerships in North America, prompting the company to consider price cuts.

Nestle Lowers Sales Guidance as Shoppers Seek Cheaper Goods

The Swiss food producer said pricing was being pressured by increased promotional activity, among other things, and that it now expected to report organic sales growth of at least 3% this year, from around 4% previously.

Tesla Supplier STMicroelectronics Cuts Guidance Again

STMicroelectronics slashed its sales and margin forecasts for the year once again as it continues to face lackluster demand for chips from the automotive industry.

Rupert Murdoch Plan to Give Control to Son Lachlan Triggers Family Legal Battle

Media titan seeks to amend trust through which he controls News Corp and Fox.

Fortescue's Annual Iron-Ore Shipments Roughly Flat on Year

Australia’s Fortescue said its iron-ore shipments were broadly flat over the past year, as it grappled with setbacks including a derailment and heavy rain.

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