Category Archives: CNN – Business

On ESPN, Dan Le Batard calls his own network ‘cowardly’ for not addressing racism

On ESPN, Dan Le Batard calls his own network ‘cowardly’ for not addressing racism

ESPN radio and TV personality Dan Le Batard called his network’s relatively new politics-free stance “cowardly” in the face of President Donald Trump and his supporters’ racist remarks about four Democratic congresswomen of color. Jimmy Pitaro, who became ESPN’s president last year, recently told the Los Angeles Times that the sports network’s audience has no…MORE

Stocks end lower as geopolitical fears rise

Stocks end lower as geopolitical fears rise

The Dow and US markets closed lower on Friday, as geopolitical worries overshadowed the hopes of interest rate cuts by the Federal Reserve. The Dow closed down 0.3%, or 69 points, while the S&P 500 and the Nasdaq Composite finished 0.6% and 0.7% lower, respectively. All three stock benchmarks also fell week-on-week. Geopolitical concerns overshadowed…MORE

China’s economic slowdown is real, but it’s not just about tariffs

China’s economic slowdown is real, but it’s not just about tariffs

China’s economic growth has slumped to its lowest level in nearly three decades, but the trade war with the United States isn’t solely to blame. Gross domestic product growth dropped to 6.2% in the second quarter, the weakest since the government started publishing quarterly figures in 1992, the national statistics authority said this week. Soon…MORE

Netflix faces a new rival in the UK

Netflix faces a new rival in the UK

UK television network ITV has teamed up with the BBC on a streaming product that gives British audiences a new alternative to Netflix. BritBox will debut in the final three months of this year, the networks announced Friday. For £5.99 ($7.50) per month, users will get access to older shows and new HD programming across…MORE

Dollar stores are everywhere. That’s a problem for poor Americans

Dollar stores are everywhere. That’s a problem for poor Americans

As dollar stores sweep across America, they are facing growing scrutiny from opponents who argue that discount chains stifle local competition and limit poor communities’ access to healthy food. Dollar stores have never been more popular. Yet a wave of cities and towns have passed laws curbing the expansion of Dollar General and Dollar Tree,…MORE

AB InBev sells Australian business after ditching huge Asian IPO

AB InBev sells Australian business after ditching huge Asian IPO

The world’s biggest brewer is selling its Australian business just days after calling off what would have been the biggest initial public offering of 2019. Anheuser-Busch InBev will unload its Carlton & United Breweries unit to Japanese beer giant Asahi in a deal worth 16 billion Australian dollars (about $11.3 billion). It was announced on…MORE

Boeing’s 737 hit; Iran tensions and oil; Microsoft soars

Boeing’s 737 hit; Iran tensions and oil; Microsoft soars

1. Boeing crisis: Boeing’s 737 Max crisis is hitting its bottom line. The company said Thursday that it will record a $5 billion after-tax charge in the second quarter, citing potential concessions to customers for disruptions and delivery delays. It’s the fullest account from Boeing to date of the cost of grounding its best-selling jet.…MORE

Boeing will take a $5 billion charge for its 737 Max troubles

Boeing will take a $5 billion charge for its 737 Max troubles

Boeing will take a roughly $5 billion hit this quarter because of the 737 Max crisis. The company said Thursday that it will record a $4.9 billion after-tax charge in the second quarter “in connection with an estimate of potential concessions and other considerations to customers for disruptions related to the 737 Max grounding and…MORE

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