Hong Kong protests: City airport blocks future rallies

Court ruling came before protesters could storm streets again.

Hong Kong’s Airport Authority has won an indefinite court injunction against protesters, to prevent them storming the terminal again.

Two weeks ago, a sit-in at the airport descended into chaos, forcing hundreds of flights to be cancelled. The action came as activists staged yet another protest against the government.

Al Jazeera’s Wayne Hay reports

Should I invest a large sum at once? Or space it out?

For full access, Log in or Subscribe Now and get 4 weeks free!

Q.: I inherited some money recently but with the market at all-time highs, I ’m worried I will invest and see it drop immediately. A broker friend says I should dollar cost average. Is that a good idea?

A.: Assuming you are going to be broadly diversified rather than buying just a few stocks, dollar-cost averaging is not a bad idea, but it isn’t great either. It can be somewhat useful as a psychological crutch but historically it has more often cost people money rather than preserved their assets.

Dollar-cost averaging (DCA) is buying into a holding with a fixed dollar amount at fixed time intervals. For example, if you had $120,000 to invest in “XYZ Diversified Fund”, you might buy $10,000 every month for a year. If XYZ’s price drops, only the $10,000 purchases you made prior to that point would be affected and you would actually buy more shares at the lower price with the next purchase. Sounds good, right?

• Actionable trading strategies
• Easy-to-follow guidance
• Weekly market navigational tool

Ruth Bader Ginsburg Completes Radiation Treatment For Tumor On Pancreas

Supreme Court Justice Ruth Bader Ginsburg has completed three weeks of radiation treatment after a tumor was discovered in her pancreas.

Doctors at Memorial Sloan Kettering Cancer Center in New York said Friday that the tumor “was treated definitively and there is no evidence of disease elsewhere in the body,” per NPR.

Ginsburg will continue to have blood tests and scans but won’t require further treatment, doctors said.

The 86-year-old justice previously had surgery in December to treat lung cancer. She was back at work to hear oral arguments in February. And in November, she fractured three ribs after a fall and was back to work later that week.

The resilient justice regularly works out and continues to snub those who might wish her ill health.

“There was a senator, I think it was after my pancreatic cancer, who announced with great glee that I was going to be dead within six months,” Ginsburg said in a July NPR interview. “That senator, whose name I have forgotten, is now himself dead, and I am very much alive.”

Hibbett shares sink as late back-to-school shoppers hurt sales

Hibbett Sports Inc. HIBB, -11.54% stock sank 15.5% after the athletic retailer reported second-quarter sales that missed expectations. Hibbett had a net loss of $8.8 million, or 49 cents per share, after a loss of 1.2 million, or 6 cents per share, the year prior. Adjusted net loss was 13 cents per share, ahead of the 16-cent loss FactSet forecast. Sales of $252.4 million were up from $211.1 million, but below the $256.0 million FactSet guidance. Same-store sales rose 0.3%, below FactSet outlook for 1% growth. One of the factors that impacted the results was a back-to-school shopping shift. "Not only do we continue to see volatility in school start dates, we’re also seeing shoppers wait until the very last minute to make their back-to-school purchases, often resulting in peak volume days occurring as close to the school start date as possible," said Jared Briskin, Hibbett’s chief merchant, on the earnings call, according to a FactSet transcript. "This volatility did impact our July results negatively but as having a positive impact to August." Hibbett also updated its annual guidance. It now expects same-store sales up 1% to 2% versus previous guidance of up 0.5% to 2%. EPS is now expected to be $1.35 to $1.50, with adjusted EPS of $2.15 to $2.25 compared with previous guidance for $2.00 to $2.15. The FactSet outlook is for same-store sales growth of 2.4% and EPS of $2.11. Hibbett stock is down 51% over the past year while the S&P 500 index SPX, -2.20% is up 0.3% for the period.

Top U.S. publishers sue Amazon's Audible for copyright infringement to block new caption feature

• The lawsuit was filed by seven members of the Association of American Publishers.
• The publishers are aiming to block a planned rollout of a feature called 'Audible Captions' that shows the text on screen as a book is narrated.
• "Essentially Audible wants to provide the text as well as the sound of books without the authorization of copyright holders, despite only having the right to sell audiobooks," AAP said in a statement.

Amazon's Audible was sued by some of the top U.S. publishers for copyright infringement on Friday, aiming to block a planned rollout of a feature called 'Audible Captions' that shows the text on screen as a book is narrated.

The lawsuit was filed by seven members of the Association of American Publishers (AAP), including HarperCollins Publishers, Penguin Random House, Hachette Book Group, Simon & Schuster, and Macmillan Publishers.

"Essentially Audible wants to provide the text as well as the sound of books without the authorization of copyright holders, despite only having the right to sell audiobooks," AAP said in a statement.

The lawsuit was filed in the United States District Court for the Southern District of New York.

Audible did not immediately respond to a request for comment.