The next big test for Elon Musk arrives this week
Editor’s Note: This story originally published on September 30, 2018. New York CNN Business — 1. Back to business: The SEC is off Elon Musk’s back. Now he and Tesla can return to that other pesky problem — making and selling cars. Tesla will turn in a critical production report on Tuesday that will show […]
Swiss voters reject corporate tax overhaul
Voters in Switzerland have shocked the political establishment by rejecting a reform plan that would have brought the country’s corporate tax system in line with international norms. The tax reforms, which were widely supported by the business community, would have removed a set of special low-tax privileges that had encouraged many multinational companies to set […]
Why it’s time for investors to go on defense
CNN — It’s time for investors to start making safer bets. That’s what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday. “Defense is more important than offense” right now, said Marks, the author of “Mastering the Market Cycle: Getting the Odds on Your Side.” Investors should consider […]
Land O’Lakes CEO Beth Ford, from the cornfield to the C-suite
Beth Ford’s first job paid $2 an hour. Early in the morning, she climbed on the school bus to go detassel corn, joining other kids in Sioux City, Iowa, who did it as a summer job. “Back then, two dollars an hour, that was real money,” Ford tells CNN’s Poppy Harlow in the latest episode […]
Trump brand takes another hit: Sears and Kmart
Nordstrom. Neiman Marcus. TJ Maxx. And now, Sears and Kmart. Sears Holdings, the company that owns retail stores Sears and Kmart, reportedly said this weekend that it would remove 31 Trump-branded items from its website. The company pulled the products as part of a plan to focus on its “most profitable items,” Sears spokesman Brian […]
7 things to know before the bell
Click chart for more in-depth data. 1. The race to driverless cars: SoftBank (SFTBF) and Toyota (TM) are forming a joint venture that will use driverless-car technology to offer new services, such as mobile convenience stores and delivery vehicles in which food is prepared en route. SoftBank will own just over half of Monet, the […]
Goldman Sachs slants research to help Democrats, top White House adviser says
New York CNN Business — Kevin Hassett, one of President Donald Trump’s top economic advisers, suggested that Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections. The Goldman Sachs economics team “almost at times looks like the Democratic opposition,” Hassett told CNN’s Poppy Harlow on Tuesday. The comment […]
Tesla is going to sell electric cars in the Middle East
Tesla is bringing its electric cars to the heart of the oil producing world. The automaker announced Monday that its first official venture in the Middle East will be in the United Arab Emirates. The first cars — the Model S and Model X — will hit the road this summer. “Timing seems to be […]
Verizon’s new plan: Consumers win, investors lose
Verizon has brought back its unlimited data plan. That’s great if you’re a Verizon customer. But it is terrible news for its investors. Verizon (VZ) stock fell nearly 1.5% in early trading Monday. It’s now down about 10% so far this year, making it the Dow’s worst performer of 2017. Verizon’s move is a clear […]
America’s NAFTA nemesis: Canada, not Mexico
America and Canada have one of the world’s biggest trade relationships. President Donald Trump met for the first time Monday with Canada’s Prime Minister Justin Trudeau. “We have a very outstanding trade relationship with Canada,” Trump said at the news conference. But the U.S.-Canada trade relationship over the years has not been as smooth as […]
