Category Archives: CNN – Business

Stocks climb toward records on solid earnings

Stocks climb toward records on solid earnings

The Dow and US stocks closed higher on Tuesday, finishing a day of global markets in the green across the board. The Dow closed 0.7%, or 177 points, higher, while the S&P 500 and Nasdaq Composite finished 0.7% and 0.6% up, respectively. The three benchmarks are approaching records again, with the Dow closing just 10…MORE

Crypto entrepreneur postpones $4.6 million lunch with Warren Buffett

Crypto entrepreneur postpones $4.6 million lunch with Warren Buffett

A Chinese cryptocurrency creator who bid $4.57 million to have lunch with legendary investor Warren Buffett says he’s had to postpone the meal. Justin Sun was due to sit down with Buffett, a noted cryptocurrency skeptic, on Thursday after winning a charity auction last month. But Sun had to reschedule after coming down with kidney…MORE

Orange Vanilla and New Coke are giving Coca-Cola a boost

Orange Vanilla and New Coke are giving Coca-Cola a boost

Coca-Cola has been trying to get customers excited about Coke with new flavors and products. It’s working. The beverage company said on Tuesday that net revenues grew 6% to $10 billion in the second quarter, attributing the growth in part to innovations within the classic Coke brand. Sparkling soft drinks grew 3% for the quarter,…MORE

Could the pound crash to $1? A ‘Boris Brexit’ might make it happen

Could the pound crash to $1? A ‘Boris Brexit’ might make it happen

Could the value of the pound drop to just one US dollar? With Boris Johnson set to succeed Theresa May as British prime minister on Wednesday, it’s a question investors are beginning to ask as the risks of a chaotic Brexit rise. Johnson has said the United Kingdom must leave the European Union by October…MORE

Cannabis ETFs are like ‘investing in alcohol post-Prohibition’

Cannabis ETFs are like ‘investing in alcohol post-Prohibition’

Cannabis stocks have been red hot on Wall Street for the past year or so — and for investors who want to take part in the action without trying to pick an individual company, there are now multiple funds that focus on the rapidly growing sector. But are there too many options out there? The…MORE

Chinese carmakers now own 15% of Germany’s Daimler

Chinese carmakers now own 15% of Germany’s Daimler

Daimler and China’s BAIC are the latest carmakers to take their relationship to the next level. The German owner of Mercedes-Benz confirmed Tuesday that its Chinese partner, BAIC, has acquired 5% of its shares. Daimler already owns 9.6% of the listed subsidiary BAIC Motor. “This step reinforces our successful partnership and is a signal of…MORE

Earnings bonanza; Intel and Apple; New UK prime minister

Earnings bonanza; Intel and Apple; New UK prime minister

1. Earnings bonanza: Welcome to the thick of earnings season. A slew of companies report results Tuesday for the three months ending in June. Before US markets open, investors will get a look at Coca-Cola, Harley-Davidson, Hasbro, JetBlue, Kimberly-Clark, Lockheed Martin and Stanley Black & Decker. They’ll be followed after the close by Chipotle, Texas…MORE

Carl Icahn: Warren Buffett’s Occidental deal is a ‘travesty’

Carl Icahn: Warren Buffett’s Occidental deal is a ‘travesty’

Billionaire investor Carl Icahn is furious over the generous terms Warren Buffett received when he came to the aid of Occidental Petroleum’s bidding war with Chevron. Buffett’s Berkshire Hathaway agreed in late April to provide $10 billion in equity financing to add firepower to Occidental’s controversial hostile takeover offer for Anadarko Petroleum. “The whole thing…MORE

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