Category Archives: CNN – Business

Trump will nominate former campaign adviser Stephen Moore to Federal Reserve

Trump will nominate former campaign adviser Stephen Moore to Federal Reserve

President Donald Trump said Friday he plans to nominate his former campaign adviser, Stephen Moore, to the Federal Reserve Board. “It is my pleasure to announce that @StephenMoore, a very respected Economist, will be nominated to serve on the Fed Board. I have known Steve for a long time — and have no doubt that…MORE

Shaq is joining Papa John’s board of directors

Shaq is joining Papa John’s board of directors

Papa John’s has found its next spokesman: Shaquille O’Neal. But the company hopes Shaq can help Papa John’s beyond hawking pizza. O’Neal, the NBA Hall-of-Famer, will join Papa John’s board of directors. O’Neal will also invest in nine Papa John’s stores in Atlanta and become an ambassador for the brand in advertisements. The company will…MORE

Indonesia’s Garuda is canceling its $4.9 billion order for the Boeing 737 Max

Indonesia’s Garuda is canceling its $4.9 billion order for the Boeing 737 Max

Indonesian airline Garuda said Friday that it’s canceling a multibillion-dollar order for Boeing’s 737 Max 8 passenger jet after the plane was involved in two deadly crashes in less than five months. “Our passengers have lost confidence to fly with the Max 8,” Garuda spokesperson Ikhsan Rosan told CNN. The Indonesian carrier ordered 50 of…MORE

MillerCoors sues Anheuser-Busch over corn syrup Super Bowl ad

MillerCoors sues Anheuser-Busch over corn syrup Super Bowl ad

The maker of Miller Lite and Coors Light doesn’t see the funny side of Bud Light’s corn syrup Super Bowl ads. MillerCoors filed suit against Anheuser-Busch, the brewer of Bud Light, over the commercials, which it says are “false and misleading.” It wants them blocked and its rival to set the record straight. Bud Light’s…MORE

Business and labor unions say the UK is facing a ‘national emergency’

Business and labor unions say the UK is facing a ‘national emergency’

British business and labor unions have set aside their differences to make a joint appeal to Prime Minister Theresa May to change course on Brexit or risk a massive economic shock. Top officials at the Confederation of British Industry and the Trades Union Congress said Thursday that Britain faces a “national emergency” if politicians allow…MORE

China and women’s clothes: How Levi’s strategy won over Wall Street

China and women’s clothes: How Levi’s strategy won over Wall Street

Levi Strauss racked up $5.6 billion in sales last year. But chief executive Chip Bergh has a mission to make Levi’s a $10 billion brand one day. To hit that ambitious target and match up against bigger rivals, Levi’s needs a new playbook. Levi’s hopes tapping the public market will fund its efforts to expand…MORE

America imported no oil from Venezuela last week. Here’s why that’s a big deal

America imported no oil from Venezuela last week. Here’s why that’s a big deal

America’s once-robust imports of crude oil from Venezuela have ground to a halt because of Trump administration sanctions and chaos gripping the OPEC nation. The United States imported exactly zero barrels of crude from Venezuela last week, according to government statistics. That’s never happened since the US Energy Information Administration began tracking this weekly metric…MORE

Brexit is costing the UK economy $1 billion a week. And it could get worse

Brexit is costing the UK economy $1 billion a week. And it could get worse

Brexit has been delayed, and may eventually be called off. But it’s already done major damage to the UK economy. The vote to leave the European Union in June 2016 caused the pound to weaken dramatically and ushered in years of uncertainty that has reduced economic activity and triggered a slump in investment. The economy…MORE

Levi’s is going public with a $6.6 billion valuation

Levi’s is going public with a $6.6 billion valuation

Levi Strauss shares are in demand as the blue jeans maker returns to the stock market after a 34-year absence. The clothing retailer priced its initial public offering on Wednesday at $17 per share, valuing the company at about $6.6 billion. That’s higher than the price range of $14 to $16 that the company had…MORE