CHECKOUT COUNTER: Rolls-Royce’s battery play
Rolls-Royce will make its own battery-powered ship engines
1. Rolls-Royce’s battery play
Rolls-Royce will make its own battery-powered ship engines. Branded SAVe Energy, the new system will be produced at the Rolls-Royce Power Electric site in Bergen, Norway.
The move signals a push towards hybrid and electric vessels. The company has been delivering energy storage systems since 2010 but the actual energy storage units were previously supplied by an external party.
2. Paying the price
Net revenue at Uber rose quicker than gross bookings in the quarter to June as the company dialled back on promotional subsidies of rides.
Under the leadership of Dara Khosrowshahi, who became CEO in September, the company is pouring more cash into new services such as bike sharing and Uber Eats.
3. Two become one
Magazine publisher Condé Nast will integrate the international and US teams that produce Condé Nast Traveller, one of its most popular titles.
Like other media operators, it is grappling with the shift from print to digital publishing. The move will result in some editorial job losses in New York. The new transatlantic team will begin publishing jointly starting with the January 2019 issue.
4. Walmart tops expectations
Walmart posted its strongest sales gain in more than a decade, fuelled by its grocery business where shoppers frequented its stores more often and spent more per trip.
Adjusted earnings per share came in at $1.29 versus the $1.22 that was expected for the quarter ended in July. The Arkansas-based retailer said US online sales rose 40% during the quarter.