Countries with higher wages than U.S.
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Meet GE’s new boss: Can Larry Culp right the ship?
New York CNN Business — General Electric is turning to an outsider to clean up a mess that took decades to create. Larry Culp, 55, is a proven leader known for his hands-on approach. He received a hero’s welcome from Wall Street on Monday after suddenly being installed as GE’s new boss. GE’s (GE) beaten-down […]
Lehman Brothers: When the financial crisis spun out of control
Editor’s Note: This story originally published on September 14, 2018. New York CNN Business — Legendary investment bank Lehman Brothers was on fire — and no one was coming to put it out. Bank of America refused to rescue the 158-year-old Wall Street firm without support from Uncle Sam. The British government wouldn’t let Barclays […]
Tesla stock roars back after Elon Musk’s SEC deal
New York CNN Business — Investors cheered Tesla’s deal with the SEC that keeps Elon Musk as CEO. The stock surged 17% on Monday, more than wiping away Friday’s loss. Over the weekend, Musk agreed to a settlement with the SEC that requires him to step down as Tesla’s chairman and pay a $20 million […]
These countries are most vulnerable to the emerging market storm
1. Trouble in paradise: For the past decade, a river of easy money rushed into emerging markets. Now that powerful force is reversing. Rising interest rates, along with trade wars, have started a stampede out of some emerging markets. The Turkish lira and Argentine peso have crashed, while China’s stock market is stuck in a […]
Stocks pop after new US-Canada-Mexico deal
New York CNN Business — The stock market appears to like the new trade agreement between the United States, Canada and Mexico. Stocks popped after all three countries agreed to an 11th hour deal to replace NAFTA. The Dow rose 193 points, a gain of 0.7%. The S&P 500 gained 0.4%, and the Nasdaq lost […]
Corporate America is spending more on buybacks than anything else
For the first time in a decade, Corporate America is steering more money into stock buybacks than investing in the future. S&P 500 companies rewarded shareholders with $384 billion worth of buybacks during the first half of 2018, according to a Goldman Sachs report published Friday. That big bonanza for Wall Street is up 48% […]
Instagram gets a new chief: Facebook vet Adam Mosseri
New York CNN Business — Instagram has a new leader. On Monday, the company announced that Adam Mosseri will head Instagram effective immediately. Last week, Instagram founders Kevin Systrom and Mike Krieger announced they would leave the company. “We are thrilled to hand over the reins to a product leader with a strong design background […]
Business leaders at China’s ‘Davos’ warn of damaging deadlock
Business leaders and officials in China say that Beijing is ready to dig in for a war of attrition with the United States on trade. The Trump administration launched its biggest barrage of tariffs yet just as top executives and policymakers were gathering for the start of a World Economic Forum event in the northern […]
Tesla calms fears with strong sales numbers
New York CNN Business — A tumultuous quarter at Tesla ended with some very good sales numbers. The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch. That included almost 56,000 of the lower-priced Model 3. Production was a bit […]
