Boeing is open to renaming its troubled 737 Max, its most important and currently its most infamous aircraft. Boeing Chief Financial Officer Greg Smith revealed the possibility of a name change while speaking to Bloomberg on the sidelines of the Paris Air Show. “I’d say we’re being open-minded to all the input we get,” he…… MORE
Category Archives: CNN – Business
BuzzFeed News staffers stage walkout in effort to compel management to recognize union
BuzzFeed News employees on Monday afternoon staged a walkout in an attempt to pressure the company to recognize their union. Approximately 115 to 125 employees were expected to participate in the demonstration, a representative for the NewsGuild of New York, which represents the staffers, told CNN Business. The walkout took place at all four of…… MORE
Bitcoin hit $9,300, its highest level in 13 months
Bitcoin’s stunning spring continues: It soared past $9,300 Monday, reaching its highest level in 13 months. The cryptocurrency has risen 148% in 2019. Many investors are betting on more growth ahead. As JPMorgan, Fidelity and the New York Stock Exchange get into the cryptocurrency business, investors have grown to trust bitcoin more as an asset…… MORE
Amazon condemns Alexandria Ocasio-Cortez for ‘starvation wages’ comment
Rep. Alexandria Ocasio-Cortez criticized Amazon CEO Jeff Bezos for being a billionaire while his company pays its warehouse workers “starvation wages.” Amazon says Ocasio-Cortez is “just wrong.” In an interview with ABC News’ “This Week,” the New York Democrat blasted Amazon, claiming low worker pay contributes to Bezos’ status as the world’s richest person. Amazon…… MORE
A video that shows a robot turning on its creators is scary — but also fake
A viral video has the internet worried a robot revolution is near. But the clip, which appears to be the work of engineering group Boston Dynamics, is actually a parody video published by production company Corridor Digital. In the video, a robot begins to fight back after repeated attacks from humans. While Boston Dynamics does…… MORE
Christine Romans: Investors are ‘pretty sanguine.’ Here’s why
Investors seem pretty sanguine about the huge macro events in the days ahead. The S&P 500 is only about 2% from record highs and up 15% this year, and there is plenty of headline risk. The Federal Reserve meets this week, and while a rate cut is not expected, the market is pricing in a…… MORE
Manufacturing takes a sharp turn for the worse
A key indicator of the health of the manufacturing sector tanked in June, suggesting that business sentiment around new tariffs is starting to bite. The Empire State Manufacturing Survey, which measures how factories in New York State view the state of their business, fell much more than expected in June: a record 26 points, to…… MORE
India is escalating a trade fight with America. It’s a high risk strategy
India’s decision to slap new tariffs on American goods over the weekend escalates a trade battle with the United States that may not be worth fighting and could backfire. The Indian tariffs on 28 US products including almonds, apples and some chemicals went into effect Sunday. While New Delhi says the heightened duties are in…… MORE
Airbus bests Boeing on day one of the Paris Air Show
Airbus kicked off the Paris Air Show by unveiling a new jet and announcing orders for over 100 new planes. Its chastened rival Boeing was meanwhile stuck playing defense over the 737 Max. The recent divergence in fortunes of the world’s dominant planemakers was on full display at the biennial industry beauty contest, where the…… MORE
Sotheby’s sold to billionaire art collector Patrick Drahi for $3.7 billion
Telecom billionaire and art collector Patrick Drahi has emerged as the winning bidder for Sotheby’s, the 275-year-old auction house. Sotheby’s announced an agreement on Monday to be taken private by Drahi in a deal valued at $3.7 billion including debt. The takeover will result in Sotheby’s, the world’s oldest and largest international auction house, ending…… MORE
