Toys ‘R’ Us brand may be brought back to life
New York CNN Buiness — Toys “R” Us may be coming back. The company closed all of its US stores in June as part of a bankruptcy liquidation. But the owners of the company’s remaining assets are looking into restarting the business, as well as the related Babies “R” Us brand, the company disclosed in […]
Rates are rising but investors still don’t fear the Fed or inflation
Bond yields in the United States have been rising. But investors aren’t freaking out. The Dow and S&P 500 both hit all-time highs last week — and the Nasdaq is not far from a record, either. The 10-Year Treasury yield is still relatively low, but it has topped the psychologically important 3% threshold and is […]
Verizon is bringing back unlimited data
Verizon (VZ) is bringing back an unlimited data plan. Starting Monday, Verizon customers can get unlimited data, talk and text for $80. The company says the new introductory plan also includes up to 10 GB of mobile hotspot usage, as well as calling and texting to Mexico and Canada. It will also allow customers to […]
Honda teams up with GM on self-driving cars
New York CNN Business — Honda and General Motors are teaming up to create a new generation of fully autonomous vehicles. Honda will invest $2 billion over 12 years into GM’s autonomous vehicle subsidiary, Cruise. GM and Cruise have been building and developing self-driving versions of GM’s Chevrolet Bolt EV electric car with plans to […]
GE is worth less than $100 billion for the first time since the Great Recession
General Electric, once America’s most valuable company, is now in sharp decline. In a year full of dubious landmarks, GE has encountered another: The storied conglomerate is now worth less than $100 billion. That hasn’t happened since March 2009 — during the Great Recession. GE’s (GE) stock crash — down by nearly two-thirds since the […]
Indian rival slams Uber’s business model
Uber’s top rival in India has some unsolicited advice for the U.S. startup: Go local. “They have a very cookie-cutter approach in terms of what the model is and how [to] force feed it into any geography,” Pranay Jivrajka, a top executive at Ola Cabs, said on the sidelines of CNN’s Asia Business Forum in […]
Aston Martin IPO values James Bond’s favorite car brand at $5.6 billion
Aston Martin is joining the ranks of listed automakers with an IPO that values the British company at more than $5 billion. But its first day of trading in London got off to a rocky start. The favorite carmaker of fictional British secret service agent James Bond priced its shares at £19.00 ($24.70), giving it […]
CEOs are cashing in on the market boom
CEOs are using the market boom to quietly cash in their own chips. Insiders at US companies have dumped $5.7 billion of stock this month, the highest in any September over the past decade, according to an analysis of regulatory filings by TrimTabs Investment Research. It’s not a new trend. Insiders, which include corporate officers […]
Oil prices have doubled in a year. Here’s why
It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable year for OPEC, which was forced to devise a plan to boost prices after they fell to $26 per barrel in February 2016. The price […]
Barnes & Noble stock soars 20% as it explores a sale Barnes & Noble stock soars 20% as it explores a sale
Editor’s Note: This story originally published on October 3, 2018. New York CNN Business — Barnes & Noble stock jumped more than 20% after the board said it would consider a sale of the troubled company. The board said Wednesday it had appointed a special committee to review offers. One came from longtime Barnes & […]
