Category Archives: CNN – Business

Amazon Prime Day was bigger than its Black Friday and Cyber Monday — combined

Amazon Prime Day was bigger than its Black Friday and Cyber Monday — combined

Amazon said this year’s Prime Day was “once again the largest shopping event” in its history. The company said sales from its two-day shopping event surpassed its sales for last year’s Black Friday and Cyber Monday combined. Amazon didn’t reveal specific figures, like revenue. It also doesn’t typically disclose numbers for specific shopping days, with…MORE

Foreign buyers are turning their back on American real estate

Foreign buyers are turning their back on American real estate

Foreigners are buying less real estate in the United States, and sluggish global economic growth is to blame. Residential home purchases by people from outside the country plunged 36% to below $78 billion in the year that ended March 2019, according to a report from the National Association of Realtors. Since 2017, the number of…MORE

S&P 500 has its worst day in more than three weeks

S&P 500 has its worst day in more than three weeks

Stocks finished lower on Wednesday, ending in the red for the second day in a row after trade worries bubbled back to the surface. The Dow finished 0.4% lower, slipping 116 points. The S&P 500 closed down 0.7%, while the Nasdaq Composite finished 0.5% lower. It was the worst one-day percentage drop in more than…MORE

Renault makes another bet on China’s huge market for electric cars

Renault makes another bet on China’s huge market for electric cars

Renault has launched a new partnership in China as it tries to tap into booming demand for electric cars. The French carmaker has invested 1 billion yuan ($145 million) for a 50% share in Jianglin Motor Electric Vehicles, the companies said on Wednesday. The subsidiary of Jianglin Motor sold nearly 500,000 electric vehicles in 2018,…MORE

3 reasons to fear America’s massive $70 trillion debt pile

3 reasons to fear America’s massive $70 trillion debt pile

America’s debt load is about to hit a record. The combination of cheap money and soaring debt helped fuel the decade-long economic expansion and bull market, but America’s gluttony of loans could work against it if its fragile economic balance shifts. In the first quarter of 2019, the United States’ total public- and private-sector debt…MORE

United is buying used planes to add capacity as the 737 Max remains grounded

United is buying used planes to add capacity as the 737 Max remains grounded

United Airlines is getting creative in its plans to maintain capacity as the grounding of the Boeing 737 Max enters its fifth month. The Chicago-based carrier said Tuesday it has signed an agreement to buy 19 used Boeing 737-700 aircraft. It expects the planes to be delivered starting in December. It didn’t disclose the airline…MORE

Bank of America rakes in record profit driven by strength from US households

Bank of America rakes in record profit driven by strength from US households

Bank of America hauled in its fattest profit ever during the second quarter thanks to sturdy spending from households that offset trouble in markets. The results from one of the nation’s largest banks paint an optimistic picture about the American economy even as the Federal Reserve prepares a rescue aimed at speeding growth up. Bank…MORE

Bitcoin and Facebook; More earnings; Markets lose direction

Bitcoin and Facebook; More earnings; Markets lose direction

1. Bitcoin and Facebook: Investors are worried that Facebook’s move into cryptocurrency could spark a new wave of regulation, sending Bitcoin prices below $10,000 for the first time in two weeks. Lawmakers in the US Senate grilled Facebook executive David Marcus about the Libra cryptocurrency project on Tuesday, voicing major concerns about Facebook’s ability to…MORE

LVMH boss Bernard Arnault overtakes Bill Gates as world’s second-richest person

LVMH boss Bernard Arnault overtakes Bill Gates as world’s second-richest person

Bill Gates is no longer the world’s second-richest person. That title now belongs to French billionaire Bernard Arnault. Arnault, the CEO of luxury goods maker LVMH, overtook Gates Tuesday on the Bloomberg Billionaires Index. It’s the first time since the index was created seven years ago that Gates has dropped out of the top two.…MORE

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