Hello, friends and Coins2Day readers,
Happy Wednesday. The week is almost half done, so let’s get straight to what you need to know in business news today.
1. Two former media siblings release earnings
Who doesn’t remember the halcyon days of AOL Time Warner? Back when AOL was so culturally relevant an entire movie was based on it? Well, those days are gone. AOL has split from Time Warner now, and both companies released quarterly results today. AOL’s revenue grew 12% year-over-year, while Time Warner — who recently completed another spinoff; that of Coins2Day publisher Time Inc. — saw revenues grow 3%.
21st Century Fox, whose leader Rupert Murdoch called off his epic offer for Time Warner late Tuesday, will report later today.
2. Tesla settles trademark dispute in China
Elon Musk is one step closer to his dream of selling Teslas in China. The electric automaker has announced that it has “completely and amicably” ended its trademark dispute in China, reports Reuters. This is the second time Tesla has said it has ended its fight with Chinese businessman Zhan Baosheng, so we’ll see if this one sticks.
3. Amazon expanding same day delivery
Six more cities will be able to log on to Amazon.com, order a book, and have it delivered within hours, according to a release from the online shopping giant. Customers in the Baltimore, Dallas, Indianapolis, New York City, Philadelphia and Washington, D.C., metro areas join those in the Los Angeles, Phoenix, San Francisco and Seattle metro areas in being able to have items ordered by noon in their home that night. The service covers popular items such as books, movies and household goods.
4. Wells Fargo eases jumbo mortgage standards
The bank is making it easier to get mortgages on larger homes, according to an exclusive report from Reuters. The new policies relate to “jumbo” mortgages, which means the mortgage is too big to be guaranteed by a government-backed mortgage company. The move is a response to industry-wide drops in mortgage volume.
5. The NBA has a female assistant coach
The San Antonio Spurs announced yesterday the hiring of former WNBA star Becky Hammon as an assistant coach, making her the first woman to be a full-time, paid assistant in the Association.