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 & […]
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 […]
