Category Archives: CNN – Business

Brexit-backer James Dyson is moving his company HQ to Singapore

Brexit-backer James Dyson is moving his company HQ to Singapore

British entrepreneur James Dyson was a prominent supporter of Brexit. Now, he’s moving his company to Singapore. Dyson, which makes high-end appliances like vacuums and hair dryers and is working on an electric car, announced Tuesday that it will relocate its headquarters from the United Kingdom to Singapore to be closer to its customers and…MORE

Jair Bolsonaro says Brazil is open for business

Jair Bolsonaro says Brazil is open for business

Jair Bolsonaro had a simple message for the bankers, investors and chief executives gathered in Davos: Brazil is open for business. Bolsonaro was sworn in as president of Brazil earlier this month following a polarizing election campaign in which he promised to move the country to the right. In a short speech on Tuesday, he…MORE

CEOs say the trade war is killing business confidence

CEOs say the trade war is killing business confidence

Rising populism, policy uncertainty and trade conflicts have led to a sharp drop in confidence among global CEOs. The share of chief executives who think the global economy will slow over the next year has jumped to nearly 30% from 5% in 2018, according to a survey of 1,300 top business leaders by audit giant…MORE

Saudi Arabia’s top investment company looks to its home market

Saudi Arabia’s top investment company looks to its home market

The company founded by Saudi Arabia’s most prominent global investor plans to spend more of its money at home. Kingdom Holding CEO Talal Ibrahim Al Maiman said Monday the firm plans to spend $1 billion in Saudi Arabia over the next six months as the country attempts to repair its reputation with foreign investors after…MORE

The top 26 billionaires own $1.4 trillion — as much as 3.8 billion other people

The top 26 billionaires own $1.4 trillion — as much as 3.8 billion other people

The world’s billionaires are growing $2.5 billion richer every day, while the poorest half of the global population is seeing its net worth dwindle. Billionaires, who now number a record 2,208, have more wealth than ever before, according to an Oxfam International report published Monday. Since the global financial crisis a decade ago, the number…MORE

Sears creditors condemn plan to save store, citing ‘misconduct’ by chairman

Sears creditors condemn plan to save store, citing ‘misconduct’ by chairman

Sears creditors are still trying to stop chairman Eddie Lampert from buying the beleaguered retailer. The creditors filed an objection in bankruptcy court late Thursday to the former Sears CEO’s $5.2 billion bid for the company. They blamed Lampert for the problems that led to Sears’ downfall. The creditors, who are owed at least a…MORE

Tesla is slashing its workforce by 7% to make a cheaper Model 3

Tesla is slashing its workforce by 7% to make a cheaper Model 3

Tesla has announced plans to reduce its full-time workforce by 7% as it works to increase Model 3 production and cut prices. CEO Elon Musk told workers about the job cuts Friday in a letter that Tesla posted online. The company will only retain the most critical temps and contractors, Musk said. Musk wrote in…MORE

The biggest US banks made more than $120 billion last year

The biggest US banks made more than $120 billion last year

You wouldn’t know it from watching their stocks, but the biggest US banks just had a banner year. JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS) and Morgan Stanley (MS) brought in more than $120 billion combined in profit last year, the result of President Donald Trump’s corporate…MORE

Japanese carmakers say Carlos Ghosn took $9 million in unauthorized payments

Japanese carmakers say Carlos Ghosn took $9 million in unauthorized payments

Jailed auto executive Carlos Ghosn is facing a new round of allegations of financial misconduct. Nissan (NSANY) and Mitsubishi Motors (MMTOF) said Friday that Ghosn, their former chairman, improperly received €7.8 million ($8.9 million) in compensation and other payments from a joint venture between the two carmakers. The companies said a joint investigation found that…MORE

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