Category Archives: CNN – Business

Will backlash against Amazon’s NYC tax breaks kill other deals?

Will backlash against Amazon’s NYC tax breaks kill other deals?

Is the Amazon-New York City split up on Valentine’s Day the start of a new trend? Critics of the deal think so. They say it’s the beginning of the end of state and local governments showering companies with billions of dollars in tax breaks and other incentives. “Anything is possible: today was the day a…MORE

Payless is closing all its 2,100 US stores

Payless is closing all its 2,100 US stores

Payless is the latest retail chain to close up shop in the United States. The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, a spokesperson told CNN Business on Friday. Liquidation sales will begin on Sunday and stores will begin closing in…MORE

Amazon invests money in electric pickups

Amazon invests money in electric pickups

Amazon is putting money into electric trucks. The online retailer led a $700 million investment in Michigan-based electric pickup maker Rivian, the companies said Friday. Rivian unveiled an all-electric pickup and an SUV at the 2018 Los Angeles Auto Show in November and plans to begin production of the vehicles in a factory in Normal,…MORE

Ex-Goldman Sachs banker charged in 1MDB case will be sent to the United States

Ex-Goldman Sachs banker charged in 1MDB case will be sent to the United States

Roger Ng, a former Goldman Sachs banker charged by the US Justice Department for his role in Malaysia’s multi-billion dollar embezzlement scandal, will be sent to the United States to appear in federal court. Ng waived an extradition hearing in Malaysia on Friday, according to his lawyer, Marc Agnifilo. He’ll enter a not guilty plea…MORE

This is the CVS of the future

This is the CVS of the future

This is what it looks like when a drug store chain and a health insurer merge. In November, CVS completed its $69 billion acquisition of Aetna, the largest health care deal in history. Now, CVS is piloting three “HealthHub” stores in Houston with a suite of health care services that could be the drug store…MORE

Even GE’s Boston headquarters is shrinking

Even GE’s Boston headquarters is shrinking

General Electric is once again downsizing, this time shrinking the scale of its once-ambitious plan for a fancy headquarters along the Boston waterfront. The struggling light bulb and jet engine maker announced on Thursday it ditched a plan to build a 12-story office building in the Fort Point neighborhood of Boston. Instead, GE and Massachusetts…MORE

The era of big passenger jets is over

The era of big passenger jets is over

The double-decker A380 was loved by passengers, aviation enthusiasts and executives at Airbus. But the world’s largest commercial plane never won over the group that really mattered: airlines. Airbus pulled the plug on its superjumbo program on Thursday, announcing that it would deliver the final A380s to airlines such as Emirates by 2021. The decision…MORE

End of the superjumbo: Airbus is giving up on the A380

End of the superjumbo: Airbus is giving up on the A380

Airbus is ending the A380 program, pulling the plug on its iconic superjumbo jet that once promised to revolutionize commercial air travel but failed to deliver on outsized expectations. The European plane maker said Thursday that it will stop delivering A380s in 2021 after Dubai-based airline Emirates slashed its orders for the huge jetliner. “We…MORE

Levi’s wants to be more than a jeans company, so it’s going public

Levi’s wants to be more than a jeans company, so it’s going public

Levi Strauss plans to hit the public market for the first time in 34 years, a promising sign for a troubled retail sector. The 165-year-old company, which invented the blue jean, filed for an IPO on Wednesday. Levi’s said it could raise up to $100 million in the public offering, and will be listed on…MORE