Premier Li Keqiang says Beijing will never devalue yuan to boost exports
The trade war between China and the United States is intensifying, but Beijing has just taken one potential weapon off the table. Premier Li Keqiang told an audience of global executives and policymakers that China would not weaken the yuan to boost trade with the rest of the world. “China will never go down the […]
Trump isn’t killing the bull market. Here’s why
More and more business leaders and Wall Street strategists are expressing their worries about what President Donald Trump’s protectionist policies and unpredictable nature might do to the markets and economy. But we all know that action speaks louder than words. What investors are actually doing is in stark contrast to what people are saying. The […]
Volkswagen dumps jailed Audi CEO amid emissions probe
London CNN — Volkswagen has severed ties with suspended Audi CEO Rupert Stadler, who has been jailed since June in connection with an emissions investigation. Stadler has left the board of management of Audi parent company Volkswagen (VLKAF) and stepped down as chairman of the premium brand’s management board, the autos group said in a […]
Executives in China worry about what comes next
Companies in the front line of the trade war between the United States and China are anxious about what comes next. Executives at a World Economic Forum event in the northern Chinese city of Tianjin have been digesting the dramatic escalation in the conflict this week. Some appear relaxed, some worried, while others are hoping […]
Visa crackdown puts these rural doctors at risk
At his pediatrics practice in Sioux Falls, South Dakota, Dr. Alaa Al Nofal sees up to 10 patients a day. He’s known some of them since they were born. Others, he still treats after they’ve graduated from high school. “I treat these children for Type 1 diabetes, thyroid problems, thyroid cancer, puberty disorders and adrenal […]
S&P downgrades debt-riddled GE and GE Capital
New York CNN Business — New General Electric boss Larry Culp just got a fresh reminder of the debt-riddled balance sheet he’s inheriting. Barely 24 hours after Culp became CEO, S&P Global Ratings downgraded the credit ratings of GE (GE) and GE Capital. Moody’s and Fitch warned they could do the same. All three ratings […]
China strikes back by going after America’s energy companies
Editor’s Note: This story was originally published September 19, 2018. New York CNN Business — The United States has an abundance of natural gas that pollution-riddled China badly needs to wean itself off coal. Eying China’s voracious demand, Cheniere Energy, ExxonMobil (XOM) and other American energy companies are racing to build more than two dozen […]
LeBron, Serena and other Nike stars champion ‘Equality’
Nike says it’s time to stand up for equality in a new ad campaign. The company on Sunday launched a star-studded short film titled “Equality” to mark Black History Month. The ad features Nike-sponsored athletes LeBron James, Serena Williams, Kevin Durant, Gabby Douglas, among others, “amplifying their voices in an effort to uplift, open eyes […]
Amazon announces $15 minimum wage for all US employees
New York CNN Business — Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon (AMZN) says the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers. “We listened to our […]
Dow sets first record high since January
What trade war? The Dow just soared to its first record high since late January. The milestone shows that Wall Street is mostly unfazed by the escalating trade clash between the United States and China. The Dow’s 251-point leap on Thursday marked its 100th record close since President Donald Trump’s election, according to S&P Dow […]
