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 […]
Microsoft unveils new Surface devices, smart headphones
New York CNN Business — Fall is the season for new gadgets. Apple recently announced its latest iPhones, Amazon showed off new smart speakers and even an Alexa-activated microwave, and Google is hosting its own product launch event next week. But Tuesday is all about Microsoft, which unveiled a slew of devices ahead of the […]
Facebook doesn’t think hackers accessed third-party sites
Facebook says it has not found any evidence “so far” that its attackers accessed third-party sites through Facebook Login. It’s a sliver of good news about a massive data breach that the company first disclosed last week. Attackers accessed as many as 50 million accounts in the largest such breach of Facebook’s network. “We have […]
Tencent Music plans to public on US exchange
This story originally published on October 2, 2018. New York CNN Business — Tencent Music has filed plans to go public in the United States in what could be one of the biggest recent US IPOs by a Chinese company. The company set a placeholder target of $1 billion, which could value the company between […]
Tesla calms fears with strong sales numbers
New York CNN Business — A tumultuous quarter at Tesla ended with some very good sales numbers. The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch. That included almost 56,000 of the lower-priced Model 3. Production was a bit […]
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 […]
Getting health insurance through work now costs nearly $20,000
Editor’s Note: This story originally published October 3, 2018 New York CNN Business — Employers and workers together are spending close to $20,000 for family health insurance coverage in 2018, according to a new Kaiser Family Foundation report. Although premiums have increased fairly modestly in recent years, the growth has far outpaced workers’ raises over […]
Bumble to expand to India with the help of actress Priyanka Chopra
New York CNN Business — Bumble is the latest online dating app to compete for the hearts of women in India. Bumble, which requires women to make the first move, announced Wednesday plans to launch in India later this year. Indian celebrity Priyanka Chopra, a new investor in the company, will advise on the expansion. […]
The internet industry is suing California over its net neutrality law
The internet industry is suing the state of California over its days-old net neutrality law. The lawsuit, filed on Wednesday by major trade groups representing broadband companies, is the second major lawsuit filed against the state over the law — the first was brought by the Justice Department. On Sunday evening, California Governor Jerry Brown […]
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 & […]
