Category Archives: CNN – Business

Major Tesla investor dumps a big chunk of shares

Major Tesla investor dumps a big chunk of shares

A major shareholder in Tesla has become bearish about the company. Scottish fund manager Baillie Gifford & Co. sold 11.1 million shares of Tesla during the first quarter, the firm disclosed in a filing Thursday. That sell off reduced the fund’s holdings by 40% since December 31. The shares sold constitute 1.2% of Telsa’s total…MORE

Steel prices have tripled. Now Bank of America is sounding the alarm

Steel prices have tripled. Now Bank of America is sounding the alarm

A bubble could be brewing in steel stocks. The pandemic brought the American steel industry to its knees last spring, forcing manufacturers to shut down production as they struggled to survive the imploding economy. But as the recovery got underway, mills were slow to resume production, and that created a massive steel shortage. Now, the…MORE

Jamie Dimon calls Biden’s tax hike plan ‘a little crazy’

Jamie Dimon calls Biden’s tax hike plan ‘a little crazy’

Several top business leaders have backed President Joe Biden’s plan to raise taxes on large corporations and the wealthy and spend more on infrastructure. But JPMorgan Chase CEO Jamie Dimon wants to see more details. “I’m concerned about how the money’s going to be spent,” Dimon said in a recorded interview for the Investment Company…MORE

A look at Bill and Melinda Gates’ enormous lakefront home

A look at Bill and Melinda Gates’ enormous lakefront home

News of the Bill and Melinda Gates’ divorce ricocheted around the world this week, raising a number of questions: What, why? What about the foundation? Is it too soon to ask Melinda to star in a reality TV series with Mackenzie Scott? And, of course, what happens to that ginormous house? (Answers: We don’t know;…MORE

What is bitcoin cash?

What is bitcoin cash?

A cryptocurrency that looks and sounds a lot like bitcoin has creeped up into the top 10 biggest digital currencies list: bitcoin cash. Bitcoin cash shares most of its code with bitcoin. But it is significantly faster at processing transactions. The cryptocurrency is having a moment: It surged more than 11% Thursday, and more than…MORE

Applebee’s shorter menu is here to stay. Here’s what got cut

Applebee’s shorter menu is here to stay. Here’s what got cut

Last year, when Applebee’s sales took a hit in the pandemic, the chain slimmed down its menu. Now its sales are recovering, but Applebee’s is sticking with the change. “We’re going to keep [the menu] lean,” Applebee’s president John Cywinski told CNN Business. During the pandemic, Applebee’s cut down its menu from about 160 items…MORE

The head of Yale’s massive endowment fund has died

The head of Yale’s massive endowment fund has died

David Swensen, the long-time chief investment officer at Yale University and a legend in the world of college endowments, died Wednesday at the age of 67. Yale president Peter Salovey wrote about Swensen’s death in a statement Thursday, saying that Swensen died following “a long and courageous battle with cancer.” Swensen graduated from Yale with…MORE

Nearly 1 in 3 new stores opening in the US is a Dollar General

Nearly 1 in 3 new stores opening in the US is a Dollar General

Three dollar store chains will make up almost half of all the new stores opening up in the United States this year, a reflection of the dollar store sector’s outsized growth in the retail industry as other chains close shops or stop building new ones. About 45% of the 3,597 store openings that large retail…MORE

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