With the official launch of the Apple credit card on Tuesday, Goldman Sachs, which co-branded the card, officially begins its transformation into a consumer powerhouse. In an internal memo, Goldman CEO David Solomon says the company is now in a unique position to “innovate,” and that in the decades to come, it will be a leader in the consumer banking space, just as it is in its institutional and corporate businesses.
Earlier in the week, we learned that the CDC is investigating a growing number of “severe” lung disease cases that appear to be linked to vaping. We’re talking more than 150 cases in at least 15 states from coast to coast, reported from June 28th to August 20th. Everyone is mystified as to what is causing the illnesses, but there is one (possible) thing connecting the cases: vaping products that contain either nicotine or THC, the psychoactive ingredient in marijuana. There are no known deaths at this time.
We knew that Estée Lauder’s been having a good year, but on Monday, the New York-based cosmetics and skin care giant behind brands you love – like MAC, Clinique, and Bobbi Brown – showed us just how good, w/its eye-popping gains. Dig into the earnings report, and you’ll see a key driver of the company’s growth is a surprising one: travel retail. Duty-free and other airport spending binges, especially by Chinese and other travelers from emerging markets like Russia, India and Brazil, have helped jolt the stock up 55% this year.