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Stocks post gains...MoviePass rescinds price increase...It’s Christmastime at Selfridge’s

August 6, 2018

NEW YORK (AP) — Stocks are posting gains as Warren Buffett’s Berkshire Hathaway leads financial companies higher. Media and technology companies are also making gains and energy companies are moving up with the price of oil. Overseas markets are getting off to a sluggish start to the week.

NEW YORK (AP) — Shares in consumer products company Newell Brands are down 13 percent. The company said the liquidation of Toys R Us hurt its baby products business and its writing products unit also struggled. Newell has been selling off assets including its Rawlings sporting goods business.

NEW YORK (AP) — MoviePass, a discount service for movie tickets at theaters, is walking back a planned 50 percent price increase following a subscriber backlash. But it will soon impose a cap of three movies per month, instead of one every day. MoviePass has grown to 3 million subscribers, from about 20,000, since it slashed monthly rates nearly a year ago to $10, from as high as $50.

NEW YORK (AP) — The next version of Google’s Android system will be called Pie. It will use artificial intelligence to adapt to how you use the device. For instance, Android will set screen brightness by studying your manual adjustments, rather than automatically switching to a certain level based on ambient light.

LONDON (AP) — Europe may be basking in a summer heatwave, but Selfridge’s store, first opened in 1909, is thinking of chillier times, launching its Christmas Shop a full 145 days before Dec. 25th. The department store says more than 500 products are on display — from Big Ben-shaped tree decorations to London-themed snow globes — even though temperatures outside are over 86 Fahrenheit. The company says the early start to the holiday season is driven by demand from shoppers.

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