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Category Archives: CNN – Business

An NFL star gave his teammates Amazon stock. There’s a better gift

Are you looking for the perfect Mother’s Day or birthday present? What about stocks? Seattle Seahawks quarterback Russell Wilson gave the gift that keeps on giving, when he gifted 13 of his teammates’ $12,000 worth of Amazon stock this week. Amazon is looking like a pretty good stock selection. The online retailer’s shares are up…MORE

Iraq’s oil boom could be derailed by a lack of water

Iraq’s oil boom could be in trouble because of a shortage of water it needs to keep the wells pumping. Oil output has doubled over the past decade, putting the country on track to overtake Canada as the world’s fourth largest producer by 2030, the International Energy Agency said in a report on Thursday. That…MORE

The American economy looked like a drag just a few months ago. Not anymore

Just a few months ago, forecasters saw trouble ahead for the American economy. A deceleration from the tax-cut stimulus of 2018, a sudden drop-off in consumer spending, a stock market crash and trade policy brinksmanship had economists warning of a giant pothole in the first quarter and a recession potentially around the corner. Even Kevin…MORE

Deutsche Bank and Commerzbank abandon merger talks

Merger talks between Germany’s two biggest banks have collapsed. Deutsche Bank and Commerzbank announced Thursday that they would abandon merger discussions that started six weeks ago. The banks said in statements that execution risks, restructuring costs and capital requirements from a deal would have outweighed the benefits. A merger would have created a German national…MORE

Amazon earnings; Tesla’s ugly quarter; Facebook fine

1. Amazon earnings: Shares in Amazon have gained 26% so far in 2019, easily outpacing the rest of the S&P 500, which has advanced roughly 17%. The e-commerce giant could add to its momentum when it reports earnings after the closing bell. Analysts expect Amazon to report sales of nearly $60 billion for the first…MORE

Walmart’s $9 billion deal to sell its UK supermarkets is dead

British regulators have derailed a blockbuster merger between two of the country’s biggest supermarket chains. The United Kingdom’s Competition and Markets Authority said on Thursday that it has blocked Walmart’s proposed sale of its British supermarket brand Asda to Sainsbury’s. The deal valued Asda at £7.3 billion ($9.4 billion), and would have created a mega…MORE

Hillary Clinton urges Democrats to hold Watergate-style television hearings

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. President Trump says SO much, every day, that people sometimes suffer from Trump overload. Others choose their words more carefully, in the hopes that they’ll have more impact — and I think that’s what Hillary…MORE

Days after ousting, Julia Angwin says she wants to remake The Markup

One way or another, Julia Angwin is determined to remake The Markup, the publication she co-founded and planned to launch this summer before being fired via email on Monday. “I want this team and I want this mission, and I want to build this,” the acclaimed technology journalist said on this week’s “Reliable Sources” podcast.…MORE

Tesla lost $702 million last quarter, snapping its profit streak

Tesla’s profit streak is over. Big time. The electric car company said Wednesday that it lost $702 million last quarter. Its revenue was also down 37% compared to the prior quarter. Wall Street was already bracing for what one analyst called an “apocalyptic” quarter — but the results were still far worse than expected. While…MORE

Who is Abigail Disney?

Despite bearing the name of one of the most successful American brands, Abigail Disney isn’t about that corporate life. “I’m kind of a lefty, New York City, Manhattan, pointy-headed intellectual type,” she told The Cut last month. “Those are the people who hate Disney and think it’s the worst thing on Earth, and that’s where…MORE