Category Archives: CNN – Business

Jamie Dimon: The stock market doesn’t reflect Americans’ pain

Jamie Dimon: The stock market doesn’t reflect Americans’ pain

The stock market’s huge run-up in recent months doesn’t capture everyday Americans’ pain. That’s why the government and Big Business should act to help ease the burden on the least fortunate, said JPMorgan Chase CEO Jamie Dimon, in an interview with CNN Business. “When you have 13 million people out of work, and you’ve got…MORE

UK sheds 730,000 jobs during the pandemic and wages are falling

UK sheds 730,000 jobs during the pandemic and wages are falling

The UK economy has shed 730,000 jobs since the coronavirus pandemic shuttered businesses in March, with the young, the old and the self-employed bearing the brunt of the unemployment crisis. The Office for National Statistics said Tuesday that there was a record drop in the number of workers over the age of 65 on company…MORE

Defense pays off for SoftBank’s Masa Son

Defense pays off for SoftBank’s Masa Son

Investors have piled into tech stocks during the coronavirus pandemic, sending shares in companies such as Facebook, Amazon, Google and Apple into the stratosphere as demand for their services increased. The same has happened for Japan’s SoftBank, but for different reasons. Not so long ago, it looked like the conglomerate was in pretty rough shape.…MORE

Hertz sold $29 million in stock despite SEC questions

Hertz sold $29 million in stock despite SEC questions

Hertz did raise millions of dollars through stock sales after its bankruptcy filing, after all. The cash-strapped car rental company had said it would stop the stock sale after the Securities and Exchange Commission had raised questions about the deal. But apparently it did sell some shares before the SEC took action. It’s been quite…MORE

S&P 500 falls short of new record high

S&P 500 falls short of new record high

The S&P 500 is so close to a new record high — its first since the pandemic hit and exceeding its all-time high from February. The stock index fell short of a new peak on Tuesday, but it remains just an arm’s length away. A new all-time high in the next few days would mean…MORE

Barry Diller’s IAC rolls dice with $1 billion stake in casino giant MGM

Barry Diller’s IAC rolls dice with $1 billion stake in casino giant MGM

IAC recently spun off its stake in Tinder-owner Match. But the company apparently has its sights set on people taking a different kind of gamble: It has bought a nearly $1 billion stake in MGM Resorts. The stake purchased by IAC, a conglomerate run by media mogul Barry Diller, amounts to about a 12% interest…MORE

Trick-or-treating is in doubt this year, so Halloween candy is coming early

Trick-or-treating is in doubt this year, so Halloween candy is coming early

No, your eyes aren’t playing tricks on you. Halloween candy displays have arrived even earlier this year. The Covid-19 pandemic, and its potential to put a damper on trick-or-treating and spooky fêtes, has candy manufacturers like Hershey hedging their bets for what is typically their biggest season. That includes dressing up fewer treats in Halloween-specific…MORE

Kodak stock dives 30% after $765 million loan is put on hold

Kodak stock dives 30% after $765 million loan is put on hold

Kodak stock plunged 30% Monday after a $765 million loan from the US government to help make drug ingredients was put on hold, as regulators are reportedly looking into allegations of insider trading. The stock was temporarily halted after plunging as much as 43% earlier in the day. “Recent allegations of wrongdoing raise serious concerns,”…MORE