Category Archives: CNN – Business

Tariffs prompt US Steel to restart work on Alabama mill

Tariffs prompt US Steel to restart work on Alabama mill

US Steel says it is restarting construction on an Alabama mill to take advantage of higher steel prices. The company had stopped work on a furnace at the plant in 2015 because of unfavorable market conditions. But US Steel said it resumed construction because of the Trump administration’s trade policies, as well as incentives from…MORE

Nissan cuts profit forecast in its first report since ousting Carlos Ghosn

Nissan cuts profit forecast in its first report since ousting Carlos Ghosn

Life after Carlos Ghosn is off to a rocky start for Nissan. The Japanese automaker slashed its annual profit and sales forecasts on Tuesday in its first earnings report since the arrest and ouster of Ghosn, who ran the company for nearly two decades. Nissan now expects to sell 5.6 million vehicles worldwide in the…MORE

Why flowers get so expensive on Valentine’s Day

Why flowers get so expensive on Valentine’s Day

At Kroger, a dozen roses at stores usually cost around $10. During the Valentine’s Day stretch, they go for double. Why are flowers so expensive around Valentine’s Day? The rush for flowers creates international logistics bottlenecks and elevated transportation costs for a limited supply of perishable flowers. “It’s an old economic adage. Supply and demand,”…MORE

Climate groups threaten lawsuit to force Shell to ditch oil

Climate groups threaten lawsuit to force Shell to ditch oil

Climate activists are preparing legal action aimed at forcing Royal Dutch Shell to exit the oil business. A coalition of environmental groups in the Netherlands said Tuesday that they will hand over a court summons on April 5 if Shell does not change its business model to comply with the Paris climate accord. The groups…MORE

Toys ‘R’ Us wants to return to the United States

Toys ‘R’ Us wants to return to the United States

The new owners of Toys “R” Us want to bring the brand back to the United States. But they can’t say when it will happen. The troubled toy company found another life last month as Tru Kids Brands, roughly half a year after Toys “R” Us closed the last of its stores in the United…MORE

60% of UK trade is still exposed to a Brexit shock

60% of UK trade is still exposed to a Brexit shock

If nothing changes in the next 45 days, the United Kingdom will crash out of the European Union with as much as 60% of its trade at risk of disruption. Leaving the European Union without a deal means losing preferential access to the bloc’s vast market, putting nearly half of UK trade at risk from…MORE

Siemens CEO on Brexit: Nobody invests into uncertainty

Siemens CEO on Brexit: Nobody invests into uncertainty

The CEO of Siemens says the United Kingdom must provide clarity on trade or risk further declines in investment. “Nobody puts money [into] uncertainty. That’s not the way it works,” Siemens boss Joe Kaeser told CNN Business’ Emerging Markets Editor John Defterios on Monday. The United Kingdom is scheduled to leave the European Union on…MORE

Wells Fargo CEO apologizes for service outage

Wells Fargo CEO apologizes for service outage

Wells Fargo CEO Tim Sloan has apologized for “the inconvenience” to both customers and employees following a service outage that kept account holders from accessing their funds on Thursday. The “recovery from these issues was not as rapid as we or our customers would have expected,” Sloan said on Friday. “We will review the system…MORE

Chipotle CEO: We are undergoing a digital transformation

Chipotle CEO: We are undergoing a digital transformation

Chipotle is having a tech revolution. The Mexican chain has added a second line to its stores that field only digital orders, and it’s testing out “Chipotlanes,” which let customers order online and pick up through a drive-thru lane in some stores. It offers delivery through its app and delivery platforms. In the last three…MORE

Sears survived bankruptcy. Can it survive long term?

Sears survived bankruptcy. Can it survive long term?

Sears is saved. For now. The retailer is emerging from bankruptcy a smaller and financially healthier company. But it’s not clear whether Sears will enjoy a second life, or if a second bankruptcy and permanent closure looms in its future. The retail graveyard is full of companies like RadioShack and Gymboree that emerged from bankruptcy…MORE