Category Archives: CNN – Business

The turnaround plan that wasn’t. Deutsche Bank stock hits another record low

Investors are giving Deutsche Bank’s vague plans for a turnaround a big thumbs down. The stock fell nearly 3% to a new record low Thursday as the annual meeting of Deutsche Bank shareholders heard CEO Christian Sewing and chairman Paul Achleitner pledge new cost cuts but stop short of announcing a more dramatic overhaul. Patience…MORE

Dow drops nearly 300 points as Wall Street braces for deeper trade war

Wall Street is coming to grips with the idea that the US-China trade war will get worse before it gets better. The Dow dropped 286 points, or 1.1%, on Thursday on fears about the tariff battle slowing global growth and dinging corporate profits. The index recovered somewhat toward the end of the day — at…MORE

Indian stock market party for Modi is brief as big challenges remain

A landslide victory for India’s Prime Minister Narendra Modi briefly sent the country’s stock markets to record highs as the results started to come in. India’s benchmark index, the Sensex, surged 900 points to cross 40,000 for the first time ever Thursday morning after early poll counts in the country’s massive election gave Modi’s party…MORE

Pilots union to Boeing: ‘Inexcusable’ to blame pilots for 737 Max crashes

The spokesman for American Airlines’ pilots union called Boeing’s insinuation that foreign pilots were to blame for the crashes involving 737 Max jets “inexcusable” and said AA pilots made several suggestions to Boeing to fix the 737 Max’s systems before the second plane crash. In recent weeks, Boeing CEO Dennis Muilenburg and others have said…MORE

Quickly catch up on the day’s business news

Here’s what you might have missed Wednesday from CNN Business: This ruling could upend the smartphone industry: A US judge ruled that Qualcomm, the most important technology company most people have never heard of, has violated antitrust law by charging companies sky-high prices to license its technology. Here’s why the ruling is such a big…MORE

Saudi Arabia wants to buy tons of American natural gas

Saudi Arabia has placed a huge bet on American natural gas. In a sign of shifting energy fortunes, Saudi Aramco announced a mega preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas per year from a Port Arthur, Texas export project that’s under development. If completed, the purchase from San Diego-based…MORE

Amazon weathers contentious shareholder meeting, as investors and workers press for change

Amazon faced an unprecedented number of shareholder resolutions at its annual meeting on Wednesday. All of them failed, which is typical for shareholder meetings. Regardless, the high number of proposals reflect the increasing scrutiny Amazon faces as it spreads across industries. Specific vote counts may still demonstrate substantial support for some resolutions when they are…MORE