Category Archives: CNN – Business

AbbVie to buy Allergan in a $63 billion drug deal

AbbVie announced it will buy Allergan for $63 billion, combining the companies behind Humira and Botox and creating yet another pharmaceutical behemoth. Allergan, with 2018 revenue of $15.8 billion, focuses on medical aesthetics, eye care, central nervous system disorders and gastroenterology. Its most famous drug is Botox, which is used to treat muscle spasms and…MORE

Dow slides in early trading as sentiment sours

The Dow slipped into the red in early trading Tuesday, as global stocks were weaker in the face of escalating geopolitical tensions. While the Dow opened 0.1%, or 15 points higher, it pared those gains in the first minutes of trading and slipped into negative territory. The S&P 500 was down 0.2% and the Nasdaq…MORE

Christine Romans: Stocks need a reason to hit record highs

Stocks are so close to record highs and searching for a reason to break through. The Dow is just 99 points shy of a closing high in an environment swirling with conflicting catalysts. The core economy and jobs market appear strong, but signs of slowing in manufacturing and labor are driving interest rates lower. President…MORE

Monzo doubles its value to $2.5 billion ahead of US launch

Monzo, the popular UK banking app, has boosted its financial firepower as it prepares for a US launch. The company said Tuesday that it has raised £113 million ($144 million) from new and existing investors, led by influential US startup accelerator Y Combinator. Other investors in Monzo include Joshua Kushner’s Thrive Capital and payments company…MORE

Most drivers say safety tech has saved them from crashes

Most drivers with advanced auto safety technologies in their cars say the features have helped keep them out of crashes, according to a new survey from Consumer Reports. About 57% of respondents said features like automatic emergency braking, blind spot warning and lane keeping assistance have helped prevent collisions. The responses covered about 72,000 vehicles…MORE

How Microsoft is dodging the move to regulate Big Tech

Microsoft’s market dominance is extraordinary at a time when so much focus is on the immense power of Big Tech. Facebook, Amazon, Google and Apple face legitimate concerns about big fines, more regulation or possibly even breakups. Both Republicans like President Donald Trump and prominent Democrats such as Senator Elizabeth Warren have voiced their displeasure…MORE

FedEx lawsuit; Powell speech; Markets fall

1. FedEx lawsuit: FedEx is suing the US government, claiming it shouldn’t be required to enforce federal export bans like the one targeting Huawei. Policing the contents of packages “is a virtually impossible task, logistically, economically, and in many cases, legally,” the company said. The lawsuit comes after FedEx mishandled deliveries for Chinese smartphone and…MORE

FedEx sues US Commerce Department over export restrictions that affect Huawei

US delivery company FedEx has filed a lawsuit against the US government, arguing that it should not be required to enforce federal government export bans. The move comes after FedEx mishandled a couple of deliveries for Huawei, and failed to deliver a Huawei smartphone shipped from Britain to the United States. Huawei is the world’s…MORE

Amazon Prime Day will actually be two days this year

Amazon’s Prime Day will return for the fifth time next month, and this year the discount holiday will run for two entire days. Amazon announced that Prime Day this year will start at midnight on Monday, July 15, and run for 48 hours. The company boasts that the event will include more than a million…MORE

Seven days and seven examples of the alliance between Trump and Murdoch

Want to see how Rupert Murdoch’s media empire is at work for President Trump? Look around — you can’t miss it. In the past week: — The New York Post published and then mysteriously deleted a story about Trump accuser E. Jean Carroll. — Fox News Channel’s newscasts and talk shows have barely mentioned Carroll’s…MORE