Category Archives: CNN – Business

Dairy farmers agree to buy ‘substantial’ part of Dean Foods

Dairy farmers agree to buy ‘substantial’ part of Dean Foods

Dairy Farmers of America, a major farmer-owned cooperative, has put in a bid for a “substantial” part of Dean Foods’ business. Dean, the country’s largest milk processor, filed for bankruptcy in November. For US dairy farmers, keeping Dean afloat is essential. The milk processor is a “significant customer of DFA,” Rick Smith, president and CEO…MORE

Pier 1 files for bankruptcy

Pier 1 files for bankruptcy

Pier 1, the troubled home furnishings retailer that has closed hundreds of stores in recent years, filed for bankruptcy Monday. The company, based in Fort Worth, Texas, released a statement saying that it reached a plan with lenders to provide it with $256 million. It will try to find a buyer for the company. Pier…MORE

Two train giants just teamed up to take on China

Two train giants just teamed up to take on China

Alstom is pursuing a huge deal that could help it counter a growing threat from a Chinese rival. On Monday, the French trainmaker said it has signed an agreement to acquire Bombardier’s rail business for between €5.8 billion ($6.3 billion) and €6.2 billion ($6.7 billion). The acquisition, which will be paid for via a mix…MORE

How low can bond rates go?

How low can bond rates go?

Giddy investors in stocks have shrugged off worries about the impact of the coronavirus outbreak on the global financial markets. The S&P 500 and Nasdaq both closed at new all-time highs Friday. But bond investors are far from euphoric. Yields on long-term bonds have been falling as of late. The 10-year US Treasury yield is…MORE

Mark Zuckerberg comes to Europe and asks for more regulation

Mark Zuckerberg comes to Europe and asks for more regulation

Mark Zuckerberg has asked for more regulation of Big Tech companies. Europe is preparing to give him what he wants. The Facebook chief, on a trip to Munich and Brussels, is making it clear that he wants governments to provide more rules on data use, privacy and content. The tour comes just days before top…MORE

General Motors is killing off the Holden brand and pulling out of Australia

General Motors is killing off the Holden brand and pulling out of Australia

General Motors is killing off the iconic Holden brand and pulling out of Australia and New Zealand, the latest in a series of moves to shrink the US carmaker’s global presence as it ramps up investments in electric and autonomous vehicles. The company announced Sunday that it would retire the Holden brand, which has existed…MORE

Japan’s economy is shrinking and a recession looks ‘all but inevitable’

Japan’s economy is shrinking and a recession looks ‘all but inevitable’

Japan’s economy is flirting with recession, and the novel coronavirus could push it over the edge. The world’s third-largest economy shrank 1.6% in the fourth quarter of 2019, according to a government estimate released Monday. The decline from the third quarter is the biggest contraction since 2014. The drop was even more severe — a…MORE

China is disinfecting and destroying cash to contain the coronavirus

China is disinfecting and destroying cash to contain the coronavirus

As the novel coronavirus outbreak continues to batter China, the country’s central bank has implemented a new strategy to contain the virus — deep cleaning and destroying potentially infected cash. The new measures, announced by the People’s Bank of China on Saturday, aim to contain the spread of the virus, officially known as Covid-19. There…MORE

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