Category Archives: CNN – Business

Oil shoots above $65 on fears about Iran sanctions

US oil prices raced above $65 a barrel on Monday for the first time since Halloween after the White House pledged to deepen its crackdown on Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that previously allowed some countries to buy crude from the OPEC nation. The…MORE

Kraft Heinz appoints new CEO

Kraft Heinz, which suffered a huge loss last year, announced a new CEO on Monday. The struggling company’s current CEO, Bernardo Hees, will remain in his post through June 30, 2019. Miguel Patricio will step into the role on July 1. Hees has been CEO of Kraft Heinz since Kraft and Heinz merged in 2015.…MORE

Danish retail billionaire loses 3 children in Sri Lanka attacks

Danish retail billionaire Anders Holch Povlsen lost three children in the attacks in Sri Lanka on Sunday, according to a spokesperson for his company. Povlsen is the owner of Bestseller, a Danish clothing company, as well as the biggest shareholder in online retailer Asos. “We can confirm that Anders lost three children in the attack,”…MORE

Carlos Ghosn is charged for the fourth time

Carlos Ghosn has been indicted on fresh charges of breach of trust. The Tokyo Prosecutors’ Office said Ghosn is suspected of funneling $5 million of Nissan’s money to a car dealership he controlled. The new indictment is the fourth set of formal charges made by Japanese prosecutors against the former chairman of Nissan and Renault.…MORE

Huawei sales; Iran sanctions; Tesla trouble

1. Huawei sales: Chinese tech giant Huawei reported Monday that its sales jumped 39% to 179.7 billion yuan ($26.8 billion) in the first quarter. The private company did not reveal its profits, but it did say that its net profit margin had increased slightly to 8%. Huawei sells more telecommunications equipment than any other company…MORE

Tesla investigates after car appears to explode in China

Tesla is investigating after one of its vehicles appeared to explode in China. A short video of surveillance footage posted on Chinese social media site Weibo showed white smoke emerging from what looks like a white Tesla car parked at a lot in Shanghai. After a few seconds, the electric vehicle bursts into flames and…MORE

John Oliver goes long on the Mueller report

John Oliver had plenty to say about the biggest story of the week: the release of the Mueller report. The HBO talk show host spent half of Sunday night’s episode of “Last Week Tonight” explaining the findings of the Mueller report. Oliver’s discussion was the latest installment of what the show has been calling “Stupid…MORE

Slowing US growth could be good for investors. Here’s why

1. US first quarter GDP: The first report card of the year for the American economy is due on Friday. Hold tight. Investors will be watching closely after worries about a global and US economic slowdown weighed on their minds at the start of the year. The Federal Reserve Bank of Atlanta estimates 2.8% real…MORE

Tesla announces shakeup to its board of directors

Tesla revealed Friday that four directors will leave the company — shrinking the size of its board to seven eventually. The electric-car maker said that it wants to “streamline” corporate oversight because its board has grown by four members over the past five years. That has led to “the duplication of certain areas of experience…MORE

Blogs

When the “Victims” Strike Back

A lot of terms were used to describe the man that opened fire on Republicans members of Congress at their baseball practice in Alexandria, Virginia on Wednesday.  “Bernie Sanders supporter”, “left wing extremist”, “disturbed”, and “troubled” were the most common used by those investigating the matter, those who were among the targets and those who…

Less Than Compelling

Usually us curmudgeons like to go on and on about how sports, music and movies were better in “our day”.  I think that you can add Congressional hearings to that list as well.  That’s what I was thinking during both the James Comey and Attorney General Jeff Sessions testimony the last couple of weeks.  While…

Un-settling the Science

While James Comey was sucking up all the oxygen in the room, there was a pretty major science announcement last week.  It turns out that the human species might be much older than we originally thought.  Fossils found in Morocco place our earliest ancestors on the planet as far back as 350-thousand years ago.  Until…

Open Week

Welcome to US Open week here in Wisconsin.  Many of you will be venturing down to Erin (or Hartford or Richfield–I’ve seen all three used to describe the location of the course in stories) for practice rounds the next three days–or for the competitive rounds Thursday through Sunday (and possibly Monday–more on that later).  Here…