Category Archives: CNN – Business

US Steel temporarily lays off 200 workers in Michigan

US Steel temporarily lays off 200 workers in Michigan

US Steel is temporarily laying off about 200 workers from a Michigan plant as the steel-making industry continues to falter. The company notified the state of Michigan earlier this month that it would be laying off employees at its Great Lakes Works factory near Detroit. The layoffs were expected: US Steel said in June it…MORE

Dow takes a breather as investors wait for the Fed to save the day again

Dow takes a breather as investors wait for the Fed to save the day again

The Dow and the US stock market was calmer Tuesday following a week and a half of turbulent trading. With news about trade wars, recessions and economic stimulus abating for the time being, investors are now waiting for Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole on Friday to see if he can help…MORE

Dick’s Sporting Goods is testing if it should stop selling guns

Dick’s Sporting Goods is testing if it should stop selling guns

Dick’s Sporting Goods considered stopping all gun sales in early 2018. A shooting at the high school in Parkland, Florida, had killed 17 people. And the company was shocked into action. “We did have a conversation about that,” CEO Ed Stack told CNN Business earlier this year. “At the time we felt it was a…MORE

President Trump isn’t the only one who wants a weaker dollar

President Trump isn’t the only one who wants a weaker dollar

Happy Tuesday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. President Donald Trump isn’t the only one who wants a weaker US dollar. The currency’s strength has hung over this corporate earnings season. For multinational companies, it makes exports lose…MORE

Asian markets mixed after latest trade developments, China sets key rate lower

Asian markets mixed after latest trade developments, China sets key rate lower

Asian markets were mixed Tuesday as China took the next, critical step in a long-awaited money management reform, and as the United States gave the Chinese tech company Huawei a slight reprieve in Washington’s ongoing trade war with Beijing. China’s Shanghai Composite Index edged up 0.2%, following a 2.1% gain the day before. Hong Kong’s…MORE

Hong Kong’s richest man cuts $5.6 billion deal for a British pub chain

Hong Kong’s richest man cuts $5.6 billion deal for a British pub chain

A real estate company controlled by Hong Kong’s richest man is paying a big premium to buy a British pub chain and brewer. Li Ka-shing‘s CK Asset Holdings said Monday that it had reached an agreement to buy Greene King in a deal worth £4.6 billion ($5.6 billion), including its debt. The Hong Kong company…MORE

Amazon to pass along costs of France’s ‘digital services tax’

Amazon to pass along costs of France’s ‘digital services tax’

Amazon will pass along the costs of a new French digital tax to its third-party sellers beginning on October 1, the company told US trade officials Monday. The new policy applies to Amazon sellers based in France, as well as US-based sellers shipping to French customers, said Peter Hiltz, Amazon’s director of international tax policy…MORE

Fast food companies are betting big on delivery. It might not pay off

Fast food companies are betting big on delivery. It might not pay off

This is the golden age of food delivery. Years ago, most people who wanted food to arrive at their door were limited to pizza. But delivery platforms like DoorDash, Uber Eats, Postmates and Grubhub have opened the floodgates: Now, people can order breakfast from Panera, coffee from Starbucks, a burrito from Chipotle, a burger from…MORE

Disney unveils international rollout of streaming service

Disney unveils international rollout of streaming service

Disney has released the international launch dates, prices and platforms for its upcoming Disney+ streaming service. The product, which is set to be released in the United States on November 12, will be available in Canada and the Netherlands on the same day. It will then launch in Australia and in New Zealand one week…MORE