Scandal drives Volkswagen into the red
Volkswagen reported a net loss of $1.84 billion in the third quarter on Wednesday morning, its first quarterly decline in more than 10 years, largely due to the emissions testing scandal plaguing the company. Its chairman pledged to do "everything in our power to win back trust" in its earnings report. Volkswagen CEO Herbert Deiss apologized for the scandal early Wednesday at the Tokyo Auto Show.
A delicious hashtag holiday
There’s room for one more fake, Twitter-driven holiday, as long as its #NationalChocolateDay. Some brands, such as M&M’s, have even gotten a head start on the festivities.
GOP hopefuls prep for third debate
The third Republican debate is scheduled for Wednesday night, in what could be a big ratings event for CNBC and friendly territory for Donald Trump. New frontrunner Dr. Ben Carson could be the target of attacks from other candidates, some of whom are unhappy with the size of their green rooms.
Technical difficulties during World Series game 1
And not just for the Mets in extra innings! Fox’s broadcast was blacked out early in the game due to technical difficulties, earning the network scorn on Twitter. Meanwhile, Fox made the decision not to broadcast news that the father of Royal Edison Volquez had died on Tuesday while the starting pitcher was still in the game. Google Fiber also issued a mea culpa for its own technical issues in Kansas City. The Royals won in extra innings.
Fox Sports is aware of the news about the death of Edinson Volquez’s father but do not plan to report it on broadcast while he is in game.— Ken Rosenthal (@Ken_Rosenthal) October 28, 2015
More pharmacy industry consolidation
Walgreens is buying Rite Aid in a deal that will propel the combined company past CVS as the biggest pharmacy retailer in the US with nearly 13,000 stores. It said Rite Aid locations will initially keep their branding but hinted that could change.
Twitter numbers disappoint
Twitter investors aren’t giving new CEO Jack Dorsey much of a honeymoon period. Its fourth-quarter earnings and revenue forecasts, released on Tuesday, sent its stock price down as much as 13% in after-hours trading. In other earnings news, Apple’s profit was up 31%; Samsung’s report is scheduled for early Thursday.
Bacon lovers revolt
Aficionados of bacon took to Twitter on Tuesday to express their displeasure with the WHO report that listed processed meats alongside tobacco and asbestos as cancer-causing agents. Among the trending topics were #FreeBacon, #BaconGeddon, and #JeSuisBacon.