Category Archives: CNN – Business

What Facebook scandals? Its earnings are expected to dominate

Facebook has been widely criticized for its scandals and bad behavior. But the company keeps raking in money. As long as Facebook’s 2.3 billion users keep logging onto the platform, it’ll keep bringing in ad revenue, according to Ben Schachter, senior internet analyst at Macquarie Groups. All the negative headlines — about the social media…MORE

Attorney: Man who made threatening calls to Boston Globe will plead guilty

The California man charged for threatening to kill employees of the Boston Globe last year will plead guilty to all counts against him, his attorney said this week. Robert D. Chain of Encino, California, was arrested in August after making a number of threatening phone calls to the Globe. He was indicted by a federal…MORE

Multiple Wells Fargo shareholders kicked out of rowdy meeting

Wells Fargo’s annual shareholder meeting was repeatedly interrupted on Tuesday by angry shareholders protesting the scandal-ridden bank’s consumer abuses. Countless shareholders were asked by Wells Fargo interim CEO Allen Parker to leave the Dallas meeting after making outbursts. “Wells Fargo, you cannot be trusted!” one unidentified woman said before being asked to leave. Bruce Marks,…MORE

Kohl’s goes all-in on Amazon, bringing free returns to every store

Kohl’s brought Amazon into a small number of stores almost two years ago. Now Kohl’s is throwing its full weight behind the partnership. The department store announced on Tuesday that it will accept Amazon customers’ order returns for free — even without their shipping box — at all of its more than 1,150 US stores…MORE

Asia will feel the pain if US sanctions shut down Iran’s oil exports

Asia’s biggest economies are scrambling to find new sources of oil after the United States said it would no longer grant exemptions to sanctions on Iranian crude exports. The Trump administration reintroduced sanctions on Iran’s oil last year but immediately granted waivers to China, Japan, India, South Korea and Taiwan, as well as Italy, Greece…MORE

Oil and sanctions; Tesla’s robo-taxis; IPO brew

1. Oil and sanctions: Crude oil futures rallied again on Tuesday after the White House pledged to deepen its crackdown on exports from Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that had allowed some countries to continue buying crude from the OPEC nation despite the reintroduction…MORE

Starbucks’ big rival in China plans to list in New York

Starbucks big rival in China just announced plans to go public in the United States. Beijing-based Luckin Coffee said in a filing Monday night that it wants to sell shares on the New York Stock Exchange as part of its ambitious expansion plans. Despite being barely 18 months old, Luckin has opened more than 2,300…MORE