Friday, September 17

PAID

PAID

Tinder Owner Match Group Lights Up the Pandemic

Even the most adoring suitors sometimes need reminding not to take their partners for granted. So it has been with investors and Match Group. Shares in the online-dating giant were little changed in after-hours trading Tuesday after the company reported second-quarter earnings, even though both revenue and operating income came in solidly above Wall Street’s expectations. Sparks started flying during a particularly bullish conference call on Wednesday morning, though, sending shares up more than 8% premarket.... www.wsj.com
PAID

Hospitality Industry Turns to Tech to Lure Guests Back

U.S. hotel companies are doubling down on automation and fast-tracking technologies such as digital room keys and voice-activated digital assistants to minimize contact between guests and hotel staff amid the coronavirus pandemic.The initiatives, overseen by information technology executives, are aimed at helping hotels dig out of what has been a dire season, with steep declines in occupancy, staff layoffs and a fear among some guests of contracting Covid-19. “Without technology, there’s no way those companies recover fully,” said Les Ottolenghi, who was chief information officer at Caesars Entertainment Corp. until last November. Caesars merged last month with Eldorado Resorts Inc. ...
PAID

Ahold Delhaize’s Stock Offers American Portions at European Prices

Europe’s best-performing supermarket stock this year has its big American business to thank. Ahold Delhaize, which owns the Food Lion and Stop & Shop grocery chains, upped its full-year guidance Wednesday as it reported strong second-quarter results. Unlike European peers such as British grocer Tesco, Ahold Delhaize expects to grow its operating margin this year. That is despite spending heavily on higher pay for workers and safety measures such as plexiglass screens at checkouts. The company’s stock was up 7% in early... www.wsj.com
PAID

New York Times Posts Lower Profit, Revenue on Ad Declines

New York Times Co. reported a 44% decline in advertising revenue in its second quarter as the punishing impact of the coronavirus outbreak came to bear, more than offsetting a record increase in digital subscriptions. Print advertising fell 55% in the quarter as spending on entertainment, luxury and technology marketing dropped significantly, further accelerating ongoing trends, the company said Wednesday. Digital ad revenue dropped 32%.... www.wsj.com
PAID

Quicken Loans Parent Prepares for a Big IPO

A red-hot mortgage market could propel the country’s top mortgage lender to one of the biggest public offerings this year. Rocket Companies Inc., parent company of Quicken Loans, is set to raise $3.3 billion at the high end of its price range. That would be second only to the $4 billion that hedge-fund billionaire William Ackman raised with his blank-check company last month, the largest IPO of the year, according to Dealogic. Rocket... www.wsj.com
PAID

Commerzbank Takes Hit on Wirecard Loan

Commerzbank AG, Germany’s second-largest lender, took a big financial hit from its exposure to fintech firm Wirecard AG. The lender said Wednesday that it wrote off €175 million ($207 million) in the second quarter related to a large single case. While it didn’t name the case, a person familiar with the situation said it was Wirecard. The charge came on top of €131 million it took from the effects of the coronavirus pandemic. “We... www.wsj.com
PAID

Covid-19 May Keep Developing Countries From Catching Up to Rich Ones

Even before the pandemic, developing countries struggled to sustain the high growth rates of a decade ago that had promised to catapult them into the economic big leagues. The coronavirus is making their path much rockier, potentially entrenching the divide between the world’s rich and poorer parts. In the first decade of the 21st century, economic growth allowed some developing countries to gallop faster than wealthier nations in North America and Europe. It was the era of Brics, the acronym for the fast-growing markets of... www.wsj.com
PAID

It’s Never Too Late to Start Your YouTube Career

Rick Beato figured he was onto something when the first music video he posted online went viral and got 22 million views (it featured his young son Dylan showing off preternaturally perfect pitch). He was in his mid-fifties, with a long career behind him as a college professor and music producer. A millennial-age intern encouraged him to put himself in more videos and start a YouTube channel, but Mr. Beato wasn’t sure. “My first thought was, nobody’s gonna watch an old, white-haired guy on YouTube,” Mr. Beato recalls.... www.wsj.com
PAID

Covid Surge Threatens M.B.A. Programs’ Already Limited Back-to-School Plans

Business schools spent months scrambling to provide fall M.B.A. classes with at least some of the on-campus experience that students say makes the pricey degree worth it. Weeks before classes start, some of those plans are already falling apart. Last week, two of the country’s highest-profile business schools—the University of Pennsylvania’s Wharton School and Georgetown University’s McDonough School of Business—joined the list of M.B.A. programs and universities shelving plans for a hybrid of online and in-person classes... www.wsj.com