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Category Archives: CNN – Business

US oil imports from OPEC plunge to 30-year lows. China’s are surging

America’s long-addiction to oil from OPEC is fading — even as China’s own reliance on the cartel’s crude has soared. US oil imports from OPEC plunged to a 30-year low in March, according to a report published on Thursday by the US Energy Information Administration. The imports, totaling 1.5 million barrels per day, have tumbled…MORE

Women across Switzerland are on strike. They’re protesting the gender pay gap

Swiss women are striking en masse on Friday, in a 24-hour nationwide protest to highlight the country’s poor record on gender equality and the gender pay gap. The umbrella movement — which encompasses women from trade unions, feminist groups and women’s rights organizations — argues that one of the world’s richest nations has given half…MORE

London Metal Exchange has banned traders from drinking

The London Metal Exchange has banned dealers from trading while under the influence of alcohol, in an attempt to overhaul the workplace culture at the metals center. Workers will be prohibited from drinking alcohol before doing business on the exchange’s “Ring” — Europe’s last remaining “open outcry” trading floor — ensuring sobriety as they set…MORE

Chewy soars more than 70% in IPO

It was raining cats and dogs on Wall Street on Friday: Online pet supplies retailer Chewy made its debut. And it was a strong one. Shares of Chewy, which was bought by retailer PetSmart in 2017 for nearly $3.4 billion, soared nearly 80% to about $39 in early trading Friday. The company was valued at…MORE

Oil retreats; Business slams tariffs; Facebook goes crypto

1. The big picture on oil: US crude futures are in retreat, unwinding a rally triggered Thursday by an attack on two tankers in the Gulf of Oman. The attacks were particularly unnerving for investors because they occurred near the Strait of Hormuz, a choke point through which 30% of the world’s sea-borne crude oil…MORE

With Sarah Sanders leaving, who will take over as White House press secretary?

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The White House press secretary is supposed to be the No. 1 liaison between the president and the press corps. Sarah Sanders diminished the job. When she leaves the W.H. later this month, few reporters…MORE

Amazon to Joe Biden: We pay all the taxes we owe

Joe Biden jumped into the debate over corporate taxes with a jab at Amazon on Thursday, and Amazon jabbed back. “I have nothing against Amazon, but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers. We need to reward work, not just wealth,” the former…MORE