Category Archives: CNN – Business

Oil shoots above $65 on fears about Iran sanctions

US oil prices raced above $65 a barrel on Monday for the first time since Halloween after the White House pledged to deepen its crackdown on Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that previously allowed some countries to buy crude from the OPEC nation. The…MORE

Kraft Heinz appoints new CEO

Kraft Heinz, which suffered a huge loss last year, announced a new CEO on Monday. The struggling company’s current CEO, Bernardo Hees, will remain in his post through June 30, 2019. Miguel Patricio will step into the role on July 1. Hees has been CEO of Kraft Heinz since Kraft and Heinz merged in 2015.…MORE

Danish retail billionaire loses 3 children in Sri Lanka attacks

Danish retail billionaire Anders Holch Povlsen lost three children in the attacks in Sri Lanka on Sunday, according to a spokesperson for his company. Povlsen is the owner of Bestseller, a Danish clothing company, as well as the biggest shareholder in online retailer Asos. “We can confirm that Anders lost three children in the attack,”…MORE

Carlos Ghosn is charged for the fourth time

Carlos Ghosn has been indicted on fresh charges of breach of trust. The Tokyo Prosecutors’ Office said Ghosn is suspected of funneling $5 million of Nissan’s money to a car dealership he controlled. The new indictment is the fourth set of formal charges made by Japanese prosecutors against the former chairman of Nissan and Renault.…MORE

Sri Lanka’s economy is fragile, and it depends on tourism

A series of deadly attacks could deal a body blow to one of Asia’s fragile economies. Bombs ripped through churches and luxury hotels in Sri Lanka on Easter Sunday, killing at least 290 people and injuring hundreds. Targets included the upmarket Shangri-La hotel in the capital, Colombo. A number of those killed in the eight…MORE

Huawei sales; Iran sanctions; Tesla trouble

1. Huawei sales: Chinese tech giant Huawei reported Monday that its sales jumped 39% to 179.7 billion yuan ($26.8 billion) in the first quarter. The private company did not reveal its profits, but it did say that its net profit margin had increased slightly to 8%. Huawei sells more telecommunications equipment than any other company…MORE

Tesla investigates after car appears to explode in China

Tesla is investigating after one of its vehicles appeared to explode in China. A short video of surveillance footage posted on Chinese social media site Weibo showed white smoke emerging from what looks like a white Tesla car parked at a lot in Shanghai. After a few seconds, the electric vehicle bursts into flames and…MORE

John Oliver goes long on the Mueller report

John Oliver had plenty to say about the biggest story of the week: the release of the Mueller report. The HBO talk show host spent half of Sunday night’s episode of “Last Week Tonight” explaining the findings of the Mueller report. Oliver’s discussion was the latest installment of what the show has been calling “Stupid…MORE

Slowing US growth could be good for investors. Here’s why

1. US first quarter GDP: The first report card of the year for the American economy is due on Friday. Hold tight. Investors will be watching closely after worries about a global and US economic slowdown weighed on their minds at the start of the year. The Federal Reserve Bank of Atlanta estimates 2.8% real…MORE