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 […]
Ryanair’s strikes are hitting its profits and stock price
London CNN Business — Ryanair could be headed for a rough landing this year. Europe’s leading low cost airline slashed its profit forecast for the current fiscal year to between €1.1 billion ($1.27 billion) and €1.2 billion ($1.39 billion). That’s about €150 million ($174 million) less than the company had expected. Ryanair (RYAAY) said that […]
Goldman Sachs’ new CEO has a lot of work to do
New York CNN Business — It’s a new era at Goldman Sachs. David Solomon, the part-time electronic dance DJ who previously served as president of the company and co-head of its investment banking division, took the reins from Lloyd Blankfein on Monday as CEO. Blankfein, who had served as CEO since 2006 and will stay […]
US minimum wage by year
When President Franklin D. Roosevelt signed America’s first federal minimum wage into law in 1938, it was 25 cents per hour. Adjusted for inflation, that would be worth about $4.45 today. Scroll over the chart to see the US federal minimum wage through history, and what it would be worth in today’s dollars. Source: Bureau […]
California has a new law: No more all-male boards
New York CNN Business — Companies headquartered in California can no longer have all-male boards. That’s according to a new law, enacted Sunday, which requires publicly traded firms in the state to place at least one woman on their board of directors by the end of 2019 — or face a penalty. It also requires […]
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 […]
