Category Archives: CNN – Business

Apple’s Tim Cook says his generation failed on climate change

Apple CEO Tim Cook says his generation failed on climate change. “We spent too much time debating,” Cook told Tulane University graduates during a commencement speech in New Orleans on Saturday. “We’ve been too focused on the fight and not focused enough on progress — and you don’t need to look far to find an…MORE

ExxonMobil evacuates 30 engineers from Iraq, Basra Oil Company says

ExxonMobil evacuated about 30 foreign engineers from Basra, Iraq, as a “temporary precautionary measure,” the government-owned Basra Oil Company said Saturday. The staff members were evacuated to Dubai and there are “no indicators that companies operating the oil fields are facing any security threats,” the Basra Oil Company said. The move will not affect production,…MORE

How the US-Iran oil standoff could hurt the economy

The American economy is already absorbing a body blow from the deepening US-China trade war. A real war could be more than the decade-long economic expansion can handle. Investors would be wise to closely monitor the relationship between the United States and Iran, where tensions have soared after Iran suspended parts of the nuclear deal…MORE

Quickly catch up on today’s business news

Here’s what you might have missed Friday on CNN Business: Cost of a trade war: Yesterday, the US banned Huawei from selling telecom gear to the United States. But losing Huawei as a customer could cost US tech companies $11 billion. Watch out, Walmart: German discount grocery store Aldi makes customers bag their own groceries…MORE

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