Category Archives: CNN – Business

Elon Musk: ‘I do not respect the SEC’

Elon Musk: ‘I do not respect the SEC’

Elon Musk settled securities fraud charges brought against him by the Securities and Exchange Commission earlier this year, but he is not done deriding the agency. “I want to be clear: I do not respect the SEC,” he told Lesley Stahl during an interview with CBS’ “60 Minutes,” which aired Sunday. Musk said he is…MORE

Chinese investors lead a $5 billion bid for the owner of Louisville Slugger

Chinese investors lead a $5 billion bid for the owner of Louisville Slugger

Chinese investors are leading an attempt to buy Amer Sports, the owner of brands including Louisville Slugger and Wilson, for more than $5 billion. A consortium led by China’s Anta Sports has offered €40 ($45) per share to acquire the Finnish sports company. That’s nearly 14% above the stock’s closing price on Thursday. The group…MORE

Fiat Chrysler to open a plant in Detroit to build a new Jeep, report says

Fiat Chrysler to open a plant in Detroit to build a new Jeep, report says

Fiat Chrysler may revive a shuttered Detroit factory, signaling the automaker wants to expand its American manufacturing — even as competitors scale back their US operations. The company wants to repurpose a building in the northwestern side of the Detroit as an assembly site for a forthcoming three-row Jeep Grand Cherokee SUV that will debut…MORE

GM’s union talks could spare some workers at risk of layoffs

GM’s union talks could spare some workers at risk of layoffs

GM chief executive Mary Barra traipsed around Capitol Hill this week, meeting lawmakers about the company’s plans to shut four plants in Michigan, Ohio and Maryland. She got a lot of questions about why she couldn’t save thousands of jobs. If any of those workers are spared, it will most likely happen as part of…MORE

Sears chairman bids $4.6 billion to buy 500 stores and keep them open

Sears chairman bids $4.6 billion to buy 500 stores and keep them open

Sears Chairman Eddie Lampert wants to buy stores and assets to keep the company alive. His hedge fund, ESL Investments, is offering $4.6 billion for about 500 Sears and Kmart stores as well as the company’s other assets. ESL says its plan would save 50,000 jobs. Sears employed 68,000 people at the time of its…MORE

Huawei exec’s arrest opens a new front in the US-China trade war

Huawei exec’s arrest opens a new front in the US-China trade war

The conflict between the United States and China over trade and technology is heating up again. The arrest of a top executive at Chinese tech giant Huawei at the request of the US government has angered Beijing, alarmed investors and raised new doubts about the fragile truce that the leaders of the world’s top two…MORE

Walmart turns to robots and apps in stores

Walmart turns to robots and apps in stores

Walmart is turning to new tech to reduce costs and convince shoppers to keep taking trips to the store. This week, Walmart (WMT) announced it would bring robotic floor scrubbers to 360 stores by the end of the year. It also touted a new app, Dotcom Store, that allows associates to order products for customers…MORE

Burger King trolls McDonald’s with 1 cent burger promotion

Burger King trolls McDonald’s with 1 cent burger promotion

Burger King wants people to download its app. So it’s sending them to McDonald’s for access to a one-cent Whopper. Here’s how it works: If you’re within 600-feet of a McDonald’s you can unlock a deal for a penny Whopper using the Burger King app. The app then offers directions to a nearby participating Burger…MORE

Dollar General tries to make healthy food more accessible

Dollar General tries to make healthy food more accessible

Two liters of Dr. Pepper costs $1.80 at a Dollar General store in Union City, NJ. A 10-oz bag of Twizzlers sells for $1.50. But the low-end retailer is attempting a high-end revamp of its food offerings — adding yogurt, nuts, protein bars, veggie snacks, and coconut water to meet customer demand for healthier choices.…MORE

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