Category Archives: CNN – Business

Dow tumbles 800 points as coronavirus fears mount

Dow tumbles 800 points as coronavirus fears mount

In a painful start to the week for the Dow and the broader market, stocks tumbled Monday as investors worry when Washington will agree another stimulus bill. Rising Covid-19 infections around the world as the colder seasons of the year are beginning are also weighing on the market. Investors are growing increasingly worried about renewed…MORE

GE is getting out of the coal power business

GE is getting out of the coal power business

General Electric is one of the world’s largest makers of coal-fired power plants. But now it plans to say goodbye to coal. Struggling GE announced Monday it won’t build new coal-fueled power plants, making it the latest major company to dump coal in an exit that may include asset sales, site closures and layoffs. The…MORE

These 63 Bed Bath & Beyond stores are set to close by the end of 2020

These 63 Bed Bath & Beyond stores are set to close by the end of 2020

Bed Bath & Beyond has announced the first 63 stores it will close by the end of the year as part of a restructuring plan brought on by Covid-19. USA Today first reported the closures. The news comes after the retailer announced in July that it would close roughly 200 stores, mainly Bed Bath &…MORE

Why the loss of RBG could hurt the fragile economic recovery

Why the loss of RBG could hurt the fragile economic recovery

Just when you thought 2020 couldn’t get any more chaotic, the death of Supreme Court Justice Ruth Bader Ginsburg set off a political earthquake that could rattle the fragile economic recovery. At a minimum, the loss of RBG is yet another wild card for investors, CEOs, small business owners and consumers already challenged by enormous…MORE

Investors fear US election won’t be decided for weeks — or even months

Investors fear US election won’t be decided for weeks — or even months

Investors are trying to figure out what’s ahead for the stock market — much of which will depend on who’s elected US president. But it could be weeks or even months before one of the candidates concedes, according to new research. Only 16% of a team of “superforecasters” — analysts with particularly good track records…MORE

Nikola founder Trevor Milton steps down as chairman in battle with short seller

Nikola founder Trevor Milton has stepped down as executive chairman after a short seller accused the hydrogen and electric truck startup of misleading investors and overstating the value of a business deal. Milton has also resigned from the company’s board, Nikola said in a statement on Sunday. The company has previously denied the allegations and…MORE

Six months into the pandemic, the US economic outlook is getting gloomier

Six months into the pandemic, the US economic outlook is getting gloomier

Six months. It may feel like an eternity, but that’s how long it’s been since states started enacting stay-at-home orders. We now know those actions were at least partially successful in slowing the spread of Covid-19. They also triggered an economic downturn deeper than any recession on record since at least the Great Depression. Now,…MORE

HSBC shares fall to 25-year low as fears for China business grow

HSBC shares fall to 25-year low as fears for China business grow

HSBC’s shares plunged to historic lows on Monday as the bank was hit by new fears about its business in China and a report accusing it and other major lenders of failing to stop criminals from moving dirty money around the world. The stock closed down more than 5% in Hong Kong at its lowest…MORE

Fears of another Covid-19 wave send stocks tumbling

Fears of another Covid-19 wave send stocks tumbling

Concerns that a second wave of coronavirus infections could rock the nascent economic recovery are sending stocks sharply lower. What’s happening: Germany’s DAX and France’s CAC 40 dropped 3.3% in early trading, while the FTSE 100 in London fell 3.4%. US stock futures are also sharply lower. The market reaction comes as cases surge in…MORE

Airbus wants to build zero-emission planes by 2035. Here’s how

Airbus wants to build zero-emission planes by 2035. Here’s how

Airbus has unveiled its plans for bringing the world’s first zero-emission commercial aircraft into service by 2035. Boeing’s European rival on Monday revealed three concepts that will explore different options for using hydrogen as a primary source of power. “This is a historic moment for the commercial aviation sector as a whole and we intend…MORE