Category Archives: CNN – Business

Ford invests $500 million in electric pickup truck maker Rivian

Ford is investing $500 million in electric pickup truck maker Rivian, saying the two companies will work together to develop a new battery for plug-in vehicles. Ford is playing catch-up to a number of other automakers’ efforts to develop electric vehicles. It does not currently sell any pure electric vehicles, although it sells some plug-in…MORE

Oil bidding war: Occidental trumps Chevron’s deal for Anadarko

A bidding war has emerged in America’s shale oil patch. Occidental Petroleum revealed a $76-a-share offer on Wednesday to acquire oil driller Anadarko Petroleum. The cash-and-stock offer from Occidental is about 20% richer than the $33 billion takeover deal Anadarko reached earlier this month with energy giant Chevron. Anadarko’s shares soared 11% in premarket trading…MORE

Boeing’s profit falls 21% on the 737 Max crisis

Boeing’s earnings fell 21% in the first three months of the year because of the crisis that grounded its bestselling 737 Max jet. The aircraft maker reported both lower revenue and profits compared to a year ago. Before the fatal flight that led to the jet being grounded and further deliveries of it halted, the…MORE

Facebook earnings; Boeing crisis; Tesla’s wild ride

1. Facebook earnings: What’s the cost of a scandal? For Facebook, the answer appears to be very little. The company will release its first-quarter results after the market closes, and the report is likely to show that repeated scandals have had little effect on user growth or advertising. Analysts expect the company to post sales…MORE

US accuses pair of stealing GE secrets and passing them to China

The US government has alleged that a GE engineer and Chinese businessman stole tech secrets with the intention of passing them onto Beijing. The Justice Department in a release Tuesday night said it had charged former GE employee Zheng Xiaoqing and Chinese businessman Zhang Zhaoxi with economic espionage. The department said the pair had conspired…MORE

China could help push ‘Avengers: Endgame’ to a billion dollar weekend

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. We’re in the Endgame” now Frank Pallotta emails: I’ve been reporting on the box office for five years — and nothing compares to what I’m hearing about “Avengers: Endgame” this weekend. The Marvel film —…MORE

Walmart CEO Doug McMillon’s total pay was nearly $24 million last year

Walmart CEO Doug McMillon’s total compensation reached nearly $24 million during the last year as the company continued to hold its ground against Amazon and other rival retailers. McMillon’s salary was about $1.3 million and he was eligible for stock awards based on performance and values at $15.6 million. He is also eligible for about…MORE

US stocks hit new record highs

US stocks climbed past their all-time highs on Tuesday, as stocks continued to rally from their December lows. The S&P 500 reached 2933.68 points, breaking through the historical closing high of 2,930.75 points that it set in September. The Nasdaq nearly hit 8121 points, beating the 8,110 point all-time best close it hit in August.…MORE

Stocks are at an all-time high. Here’s what stopped the last 12 bull runs

US stocks are back at all-time highs as the longest bull market in American history continues its record-setting run. How much longer can the good times roll? It’s anyone’s guess, but bull markets and economic expansions don’t die of old age. Credit crunches, political uncertainty, wars and rampant speculation have ended previous bull markets. Overall,…MORE

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