Business Briefs: Ford, Barnes & Nobel, CostcoPosted: Updated:
Ford says it getting hit hard by the U.S. trade disputes. According to Bloomberg, stock is down 29 percent, tariffs have cost the company $1 billion in profits, and layoffs are soon expected. The CEO says the new trade deal with Mexico and Canada will help, but says more damage is expected without any agreements with China.
The current political climate is good news for one company, says Cheddar. Barnes & Nobel says sales of political books are up 57 percent over last year. Much of those books covering the Trump administration. The top selling title "Fear: Trump in the White House" by legendary journalist Bob Woodward.
Another major company is looking to get into the streaming business. The Information reports that Costco is looking to launch its own service available to its executive members. It would likely be a partnership with an already existing platform. Costco is the country's fourth biggest retailer, and currently one of the top sellers of physical DVD and Blu-ray titles.