Category Archives: CNN – Business

Boeing will take a $5 billion charge for its 737 Max troubles

Boeing will take a $5 billion charge for its 737 Max troubles

Boeing will take a roughly $5 billion hit this quarter because of the 737 Max crisis. The company said Thursday that it will record a $4.9 billion after-tax charge in the second quarter “in connection with an estimate of potential concessions and other considerations to customers for disruptions related to the 737 Max grounding and…MORE

Netflix: The Straight Pride Parade ‘is about hate — not pride’

Netflix: The Straight Pride Parade ‘is about hate — not pride’

Netflix thinks the Straight Pride Parade “is about hate — not pride.” The company had a strong and swift response after organizers of a Straight Pride Parade included a logo of Netflix on their website about potential corporate sponsors. “You should know that we’re unafraid of bullies,” Netflix wrote in an email to the group…MORE

Southwest extends 737 Max flight cancellations through November 2

Southwest extends 737 Max flight cancellations through November 2

Southwest Airlines is the latest carrier to extend flight cancellations into November because of the Boeing 737 Max grounding. The Dallas-based airline announced Thursday it has removed flights that use the grounded aircraft through November 2. Southwest has 34 of the 737 Max planes in its fleet, the most of any US airline. Southwest has…MORE

Stocks snap two-day losing streak

Stocks snap two-day losing streak

US stocks finished stronger on Thursday, snapping a two-day losing streak amid some ugly second-quarter earnings. Stocks opened lower but retraced some of their losses as the day went on. While the S&P 500 and the Nasdaq Composite finished squarely in the green, the Dow only just eked out a gain. The Dow closed just…MORE

Europe is sleepwalking its way to another lost decade

Europe is sleepwalking its way to another lost decade

Europe just endured one decade of economic stagnation. If it doesn’t act soon, it could face another. Ten years after the global financial crisis, Europe’s economy has achieved a recovery, but not a revival. Low inflation, low interest rates and low growth have become the new normal. Europe’s malaise could have dangerous ripple effects. Another…MORE

UK will plunge into recession if it leaves Europe without a Brexit deal

UK will plunge into recession if it leaves Europe without a Brexit deal

Leaving the European Union later this year without a Brexit deal would plunge the United Kingdom into recession. The UK Office of Budget Responsibility (OBR) warned Thursday that “heightened uncertainty and declining confidence” would deter investment while higher trade barriers would slam exports. “These push the economy into recession, with asset prices and the pound…MORE

Netflix miss; Trade and earnings; Markets slide

Netflix miss; Trade and earnings; Markets slide

1. Netflix miss: Disappointing subscriber growth at Netflix could pummel the streaming service’s stock. The company added 2.7 million new subscribers in the second quarter of 2019, according to its earnings report released Wednesday. That’s just over half of 5 million new subscribers that analysts had been expecting. Netflix shares are set to fall 11%…MORE

Europe’s biggest tech company is being hurt by the trade war

Europe’s biggest tech company is being hurt by the trade war

Rising trade tensions are hurting Europe’s most valuable tech company. German business software group SAP said Thursday that second quarter profits dropped 21% to €827 million ($930 million) because of restructuring costs and trade uncertainty. SAP’s revenue from software licenses dipped 5% due to “trade-related uncertainty in Asia,” the company’s finance chief Luka Mucic said.…MORE

Media react to ‘send her back’ chant at Trump rally

Media react to ‘send her back’ chant at Trump rally

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. The fact that it was not surprising did not make it any less disturbing. After President Trump assailed Democratic Rep. Ilhan Omar at a North Carolina rally Wednesday night, his crowd of supporters broke into…MORE

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