Category Archives: CNN – Business

Grumpy Cat found quick success. Other celebrity pets might have it harder

Grumpy Cat has died, but she left quite a legacy. She’s one of the first pets to make big money for its owner as a successful influencer. The internet star passed away due to complications from a urinary tract infection, according to her official Twitter. The cat had feline dwarfism, which her owner said accounted…MORE

Luckin Coffee surges in Wall Street debut

China’s Starbucks has arrived on Wall Street. Luckin Coffee begin trading on Friday and provided an immediate caffeine jolt to the market. The stock surged nearly 50% to $25 a share before pulling back. Shares closed up about 20%. Luckin Coffee, which is growing rapidly thanks to a focus on cheaper drinks, priced its initial…MORE

Deere warns of weaker earnings because of the trade war

The US trade war with China continues to hurt the American heartland. Tractor maker Deere, based in Moline, Illinois, reported earnings that missed forecasts Friday and lowered its outlook. Although the company reported a 5% jump in overall sales thanks to healthy demand for its construction and forestry equipment, Deere cited “persistent uncertainty in agricultural…MORE

Baidu slumps; Pound falls; Amazon backs Deliveroo

1. Baidu slumps: Baidu just posted its first loss in 15 years as China’s slowdown hit its online advertising business. Disappointing earnings from the first three months of 2019 sent shares of the US-listed Chinese tech company tumbling more than 10% in premarket trading Thursday. The company pointed to a “challenging environment” for online ad…MORE

Ex-Goldman Sachs CEO takes jab at NYC mayor over Twitter

Lloyd Blankfein may not be the most active Twitter user, but when he tweets, he sends a message. His first tweet in June 2017 criticized President Trump’s decision to back out of the Paris climate pact. His second tweet was a strong call for American leadership. “On the bright side, if DeB gets elected prez,…MORE

Quickly catch up on today’s business news

Here’s what you might have missed Thursday on CNN Business: Banned in the USA: This morning, the US banned Huawei from selling telecom gear to the US. That means resolving the ongoing trade war between China and the US just got harder. Much harder. Warren Buffett’s big reveal: We knew that the legendary investor bought…MORE

Broadcasters party like it’s 1999 at upfronts, while turning to streaming future

If it seems like America’s political system is experiencing a slow-motion nervous breakdown, you wouldn’t notice it from the crop of new TV series rolling out to premiere on the major networks in the fall. Although the TV world is dramatically changing, the theme for the content unveiled at this week’s upfront presentations appears to…MORE

Blacklisting Huawei takes the US-China trade war to a dangerous new level

Resolving the trade war between the United States and China just got harder. Much harder. Negotiations between Washington and Beijing were already on rocky ground following new rounds of tit-for-tat tariffs. Then, on Wednesday, the United States dramatically escalated its fight against Huawei, the world’s largest telecoms equipment maker and one of China’s national champions.…MORE

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