Category Archives: CNN – Business

End of an era: 133-year-old Avon may sell to Body Shop parent

Avon is nearing a sale. The cosmetics brand is close to being purchased by Natura Cosmeticos, the latter company said Wednesday. The deal would be all-stock, Natura said. “The parties are currently … negotiating final contractual terms of the Transaction,” said the Brazil-based Natura in a press release. If the boards of the two companies…MORE

Blaming Brexit, British Steel collapses putting about 25,000 jobs at risk

Britain’s second biggest steel maker collapsed on Wednesday, putting about 5,000 jobs at the company directly at risk, and threatening another 20,000 at suppliers. The company was seeking a government bailout, but talks ended without agreement. The High Court ordered the company into compulsory liquidation, according to the government’s Insolvency Service. British Steel was reportedly…MORE

Quickly catch up on the day’s business news

Here’s what you might have missed Tuesday from CNN Business: Why Huawei is a target: To many observers, the ban on US companies doing business with the Chinese telecom giant came as a surprise. Here’s exactly what landed Huawei such hot water with US officials. Kohl’s struggles: At a time when traditional retailers are closing…MORE

Tampax introduces its first organic tampon

Women are looking for eco-friendly and healthy ways to deal with their periods. Procter & Gamble is betting that organic tampons will do the trick. On Tuesday, P&G’s feminine hygiene brands — Tampax and Always — debuted a new line of products called Pure. The pads and tampons are made from organic cotton and are…MORE

Why Corporate America’s mountain of debt matters

The next recession, whenever it arrives, could be deepened by Corporate America’s debt-riddled balance sheet. Encouraged by insanely low interest rates, US businesses have taken on record amounts of debt that funded hiring, acquisitions and generous rewards to shareholders. That borrowing doesn’t seem to matter much now because the economy is strong, and companies are…MORE

Despite a bold approach, Kohl’s struggles to escape department store woes

Kohl’s reinvented itself to adapt to sweeping changes in the retail industry. But the company still can’t dodge intense pressures on department stores from online rivals, big box retailers and discount chains. Sales at Kohl’s stores open at least a year dropped 3.4% during the first quarter of 2019 — the company’s first drop in…MORE

Celebrity chef Jamie Oliver’s restaurant chain collapses

Celebrity chef Jamie Oliver’s restaurant empire in the United Kingdom has collapsed. The entrepreneur and anti-junk food campaigner said Tuesday that the restaurant business was being placed into administration, or bankruptcy protection. The group includes Jamie’s Italian chain, Jamie Oliver’s Diner at Gatwick Airport as well as steakhouse Barbecoa and Fifteen London, a restaurant Oliver…MORE

BP resists calls to match Shell’s climate change goals

BP is resisting pressure from investors and activists to take more radical action on climate change. The company has rejected demands to follow the example set by rival Shell and include emissions generated by the oil it sells in its climate targets. Two shareholder groups used the annual meeting of BP investors on Tuesday to…MORE

For the first time, Amazon faces an enormous slate of shareholder proposals

Amazon shareholders have been a remarkably tolerant bunch over the years, sitting idly by while the company plowed nearly all its revenues back into expanding the business, submitting few if any resolutions each year for the proxy ballot. This year, that could change. A lot. Amazon received more resolutions than any other company this year,…MORE

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