Category Archives: CNN – Business

US Steel is idling plants, despite tariffs designed to save them

Pain has returned to the US steel industry, despite the tariffs put on imported steel last year that were designed to help. Late Tuesday US Steel announced it will idle two of the blast furnaces where it makes steel, one in its flagship mill in Gary, Indiana, near Chicago, the other in Ecorse, Michigan, near…MORE

Chevron has been in Venezuela for nearly 100 years. It could finally be forced to leave

Chevron’s nearly century-long relationship with Venezuela might not survive the Maduro regime’s fight with the United States. Not only is Venezuela’s infrastructure crumbling, but the OPEC member’s national oil company has been sanctioned by the Trump administration. Chevron, the last major US oil company still operating in Venezuela, could be forced to leave unless US…MORE

Harley-Davidson will make small motorcycles in China with a new partner

Harley-Davidson has found a new partner in China as it ramps up efforts to sell more motorcycles abroad. The company said Wednesday that it’s teaming up with Qianjiang Motorcycle Company to make a small motorcycle that will go on sale in the country next year. Qianjiang is a subsidiary of Geely, which owns Volvo and…MORE

Thrive Market, an online retailer, is forced to stop selling CBD

Thrive Market, an online natural and organic products marketplace, said it is shelving its catalog of hemp extracts and topicals at the demand of the company that processes its customer payments. The e-commerce platform received notice from its merchant processor “demanding that we cease the sale of all hemp and CBD products,” Nick Green, Thrive’s…MORE

Fed time; Trade optimism; Markets in wait

1. Fed time: Wednesday belongs to Federal Reserve Chair Jerome Powell. The Fed’s latest rate decision will post at 2:00 p.m. ET, followed by a press conference. Investors are looking for Powell to deliver a solidly dovish message, following his remarks two weeks ago that the Fed would act as appropriate to sustain the economic…MORE

Wednesday is 100 days without an on-camera White House press briefing

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Wednesday will be the 100th day without an on-camera White House press briefing. Up until now, the longest stretch without a briefing lasted 42 days. So this is really the worst kind of record. I’m…MORE

Why Trump might end up regretting the rate cut he wants so badly

President Donald Trump may get his wish for a rate cut. But if the Federal Reserve slashes its funds rate later this year, it won’t necessarily be the political gift he wants. Trump has repeatedly bashed chairman Jerome Powell — his pick to lead the US central bank — accusing the world’s most powerful central…MORE

Asia stocks climb as Trump signals hope for US-China trade talks

Asia stocks spiked early Wednesday, following Wall Street’s rally on signs that US-China trade relations could be improving. Hong Kong’s Hang Seng index jumped 2.6% at the open, while the Shanghai Composite Index gained 1.9%. Tokyo’s Nikkei Index rose as much as 1.7% in morning trade. South Korea’s KOSPI was up about 1%. US futures…MORE

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