Cheddar morning business update 8/11: Amazon looks to sell concert tickets

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  • Shares of Snapchat’s parent company, Snap, are plunging after the company reported disappointing earnings and user growth. The number of daily Snap users only increased by 7 million from the first quarter compared to 8 million the previous quarter. Investors have been concerned about increased competition from Facebook and Instagram, which have been adding Snapchat-like features. 
  • Amazon is looking to take on Ticketmaster.com by partnering with venue owners to sell event tickets, Reuters reports. The retailer sees an opening in the ticket market because consumers hate ticket fees and want more access to events. It could be another perk for Prime members.
  • Consumer Reports is no longer recommending Microsoft Surface laptops and tablets, after a study estimated that about 25% of the devices will have problems by the end of the second year. Consumer Reports says it won’t recommend any other Microsoft laptops or tablets either, because of their "poor predicted reliability" compared to other brands.
  • BusinessMore>>

  • 'The Hitman's Bodyguard' outdoes 'Logan Lucky' at box office

    'The Hitman's Bodyguard' outdoes 'Logan Lucky' at box office

    Sunday, August 20 2017 12:00 PM EDT2017-08-20 16:00:59 GMT
    Monday, August 21 2017 2:11 AM EDT2017-08-21 06:11:47 GMT
    The Samuel L. Jackson and Ryan Reynolds action comedy "The Hitman's Bodyguard" has taken the top spot at the box office this weekend with an estimated $21.6 million in grosses from 3,337 theaters according to...
    The Samuel L. Jackson and Ryan Reynolds action comedy "The Hitman's Bodyguard" has taken the top spot at the box office this weekend with an estimated $21.6 million in grosses from 3,337 theaters according to studio estimates Sunday.
  • Reports: China accuses luxury e-retailer of smuggling

    Reports: China accuses luxury e-retailer of smuggling

    Monday, August 21 2017 12:11 AM EDT2017-08-21 04:11:12 GMT
    Monday, August 21 2017 2:11 AM EDT2017-08-21 06:11:46 GMT
    Chinese news reports say the founder of an online luxury retailer has been charged with smuggling luxury goods into China by having travelers pretend they were personal belongings.
    Chinese news reports say the founder of an online luxury retailer has been charged with smuggling luxury goods into China by having travelers pretend they were personal belongings.
  • Asian shares mixed as markets await central banker meeting

    Asian shares mixed as markets await central banker meeting

    Monday, August 21 2017 2:11 AM EDT2017-08-21 06:11:22 GMT
    Monday, August 21 2017 2:11 AM EDT2017-08-21 06:11:44 GMT
    Asian stocks are mixed as investors keep wary eye on joint military drills between U.S. and South Korean forces and await key meeting of central bankers later this week.
    Asian stocks are mixed as investors keep wary eye on joint military drills between U.S. and South Korean forces and await key meeting of central bankers later this week.
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