Category Archives: CNN – Business

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

GE’s subprime mortgage unit files for bankruptcy

General Electric is trying to put its sins from the financial crisis behind it. WMC Mortgage, a defunct subprime lender that GE Capital acquired during the housing boom, filed for bankruptcy on Tuesday. The Chapter 11 filing, a rare step by a major company, comes just weeks after GE agreed to pay a $1.5 billion…MORE

McDonald’s is partnering with AARP to hire older employees

Unemployment is historically low, so McDonald’s is targeting a new employee demographic: Older Americans. The fast food chain said on Wednesday that it is partnering with AARP, a nonprofit interest group for aging Americans, to help attract workers who are aged fifty or above. That demographic makes up just 11% of the workforce at corporate-owned…MORE

Wanted: A central banker with nerves of steel to deal with Brexit

The Bank of England is looking for a new boss, but applicants beware: The successful candidate will inherit an economy traumatized by Brexit. Three years of confusion over how, when and even if Britain will leave the European Union has hurt growth and caused the housing market to weaken, auto production to slump and investment…MORE