Category Archives: CNN – Business

Who is Abigail Disney?

Despite bearing the name of one of the most successful American brands, Abigail Disney isn’t about that corporate life. “I’m kind of a lefty, New York City, Manhattan, pointy-headed intellectual type,” she told The Cut last month. “Those are the people who hate Disney and think it’s the worst thing on Earth, and that’s where…MORE

GE’s subprime mortgage unit files for bankruptcy

General Electric is trying to put its sins from the financial crisis behind it. WMC Mortgage, a defunct subprime lender that GE Capital acquired during the housing boom, filed for bankruptcy on Tuesday. The Chapter 11 filing, a rare step by a major company, comes just weeks after GE agreed to pay a $1.5 billion…MORE

McDonald’s is partnering with AARP to hire older employees

Unemployment is historically low, so McDonald’s is targeting a new employee demographic: Older Americans. The fast food chain said on Wednesday that it is partnering with AARP, a nonprofit interest group for aging Americans, to help attract workers who are aged fifty or above. That demographic makes up just 11% of the workforce at corporate-owned…MORE

Wanted: A central banker with nerves of steel to deal with Brexit

The Bank of England is looking for a new boss, but applicants beware: The successful candidate will inherit an economy traumatized by Brexit. Three years of confusion over how, when and even if Britain will leave the European Union has hurt growth and caused the housing market to weaken, auto production to slump and investment…MORE

The future of Lululemon: Men’s clothes, shampoo and luggage

Lululemon pulled in $3.3 billion in sales last year. But to become bigger, Lululemon will reach beyond its strength in women’s yoga pants. The upscale athletic brand unveiled a five-year growth plan Wednesday to double its men’s and digital businesses. Men’s workout clothes, dress pants and new products like boxers currently make up a small…MORE

Iran, Venezuela, Libya: Inside the ‘high wire act’ facing oil markets

Washington’s crackdown on Iran is just the latest global flashpoint rippling through increasingly tight oil markets. Even oil bulls on Wall Street were surprised when President Donald Trump vowed this week to wipe out Iran’s oil exports. The deepening Iran sanctions, on top of separate penalties on crisis-stricken Venezuela and violence in Libya, are causing…MORE

Wall Street titans return to Saudi Arabia as new human rights storm erupts

Some of the biggest names in global finance appeared in Riyadh on Wednesday, hours after news that Saudi Arabia had executed 37 people turned the spotlight back on the kingdom’s human rights record. BlackRock CEO Larry Fink, HSBC CEO John Flint and JPMorgan’s Chief Operating Officer Daniel Pinto all appeared on stage at a financial…MORE

Disney heir calls on company to give 50% of exec bonuses to lowest-paid employees

Abigail Disney is doubling down on her criticism of executive pay at her family’s company. Just days after calling the pay of Disney’s top brass “insane,” the granddaughter of company co-founder Roy Disney wrote an opinion piece in the Washington Post, in which she acknowledged she “struck a nerve with a Twitter thread about wage…MORE

Europe’s oil giants are getting the climate message. US companies not so much

Equinor just became the latest European energy company to cave to investor pressure over climate change. The Norwegian state producer joins major oil companies Total, Royal Dutch Shell and BP, as well as coal mining and commodities giant Glencore, in taking steps to make their businesses more green. While none of the companies have immediate…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…