Glencore Made More Money Trading Commodities in Six Months Than It Expected All Year

LONDON—Commodities giant Glencore GLNCY -1.05% PLC said Friday it made more money trading oil, metals and other commodities in six months than it had expected to make all year, citing unprecedented volatility in markets in the wake of the global recovery from the pandemic and the invasion of Ukraine. Glencore said its trading division expects … Read more

Tesla Raises Prices Amid Surging Costs

Tesla Inc. TSLA -8.54% has raised the prices on some of its cars by as much as $6,000, as the electric-car maker grapples with surging costs along its supply chain. The increase comes as the car industry faces rapidly rising costs on labor, transportation, raw materials and more. It also comes shortly after Tesla Chief … Read more

Ferrari to Debut SUV-Like Model in September

MILAN— Ferrari RACE 0.68% NV said a new larger, taller model similar to a sport-utility vehicle will be unveiled this fall and confirmed plans to release its first fully electric car in 2025, promising in its first long-term strategy presentation in years that it would continue to make cars that stand out as the industry embraces … Read more

Prices for New Homes in China Slide Further

A decline in Chinese new-home prices accelerated in May, despite efforts by local governments and banks to increase support for a real-estate sector that has been plagued by developer defaults and weak home-buyer demand. Data released on Thursday by China’s National Bureau of Statistics showed that average new-home prices in 70 major Chinese cities declined … Read more

U.S. Retail Sales Declined 0.3% in May

Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates that make car purchases more expensive. Retail sales—a measure of spending at stores, online and in restaurants—fell a seasonally adjusted 0.3% in May from the previous month, dropping from April’s revised 0.7% increase, the Commerce … Read more

Oracle Sales Top Expectations Against Uncertain Economic Backdrop

Oracle Corp. ORCL -4.60% sales rose in the latest quarter, soothing concerns about the business-software giant’s outlook against a backdrop of economic uncertainty affecting technology companies. The Austin, Texas-based company said companywide revenue was up 5% to $11.84 billion in its fiscal fourth quarter, while total cloud revenue grew 19% from a year earlier to … Read more

Stitch Fix to Cut About 330 Jobs

Stitch Fix Inc. SFIX -10.47% said it would cut about 330 jobs as the personal shopping and styling service grapples with a slowdown in sales and widening losses. The moves would affect roughly 15% of the salaried positions at the San Francisco-based company, and about 4% of its overall workforce, Chief Executive Officer Elizabeth Spaulding … Read more

Target CEO Says Unloading Excess Inventory Is a Necessary Pain

Target Corp. TGT 0.46% Chief Executive Brian Cornell made a decision this week that followed a familiar pattern in his career: an abrupt shift that was second-guessed by some investors. He hopes it pays off in the long run, the way similar moves have in the past. Mr. Cornell, who joined Target as CEO in … Read more