Asia’s biggest economies are scrambling to find new sources of oil after the United States said it would no longer grant exemptions to sanctions on Iranian crude exports. The Trump administration reintroduced sanctions on Iran’s oil last year but immediately granted waivers to China, Japan, India, South Korea and Taiwan, as well as Italy, Greece…… MORE
Category Archives: CNN – Business
Trade war pain gets real: Harley Davidson cites EU and China tariffs for weak earnings
The Trump administration’s tariff strategy is coming home to roost. On Tuesday, Harley Davidson posted a drop in first-quarter sales and earnings. It cited tariffs between the United States, the European Union and China as part of the reason for its weak performance. Both the European Union and China retaliated against US-imposed tariffs by adding…… MORE
Boeing was supposed to make a big profit last quarter. That was before the 737 Max crisis
On Wednesday, Boeing will give its most public accounting yet of how the 737 Max crisis has hurt its bottom line. The company is set to release its financial report for the first three months of the year. Analysts surveyed by Refinitiv are forecasting that earnings per share fell 11%, compared to the same quarter…… MORE
Oil and sanctions; Tesla’s robo-taxis; IPO brew
1. Oil and sanctions: Crude oil futures rallied again on Tuesday after the White House pledged to deepen its crackdown on exports from Iran. The Trump administration vowed to bring Iran’s oil exports to “zero” by removing the waivers that had allowed some countries to continue buying crude from the OPEC nation despite the reintroduction…… MORE
Big names and big doubts as Luminary launches subscription podcast app
A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. Right now the podcast business is almost all about the ads. Are we on the cusp of a big change? Are subscription models going to change podcasting as we know it today? Tuesday is the…… MORE
Starbucks’ big rival in China plans to list in New York
Starbucks big rival in China just announced plans to go public in the United States. Beijing-based Luckin Coffee said in a filing Monday night that it wants to sell shares on the New York Stock Exchange as part of its ambitious expansion plans. Despite being barely 18 months old, Luckin has opened more than 2,300…… MORE
Beyond Meat’s IPO plans give it a $1.2 billion valuation
Beyond Meat is planning an initial public offering that would value the company at about $1.2 billion. The 10-year-old company — which sells protein that is designed to look, taste and cook like beef, pork and poultry — plans to price its shares between $19 and $21 when it goes public. If it sells each…… MORE
Stelter: Mueller report shows why the media must stand up for morality and decency
The revelations from Robert Mueller’s report are sinking in -— and American politics are sinking ever lower. On Sunday one of President Trump’s attorneys, Rudy Giuliani, told an incredulous Jake Tapper that “there’s nothing wrong with taking information from Russians.” When Tapper challenged him — “I’m not talking about crime. I’m talking about ethics” —…… MORE
Exxon is helping China move away from coal
China is turning to ExxonMobil to help meet its insatiable appetite for cleaner energy as the country moves away from coal. Despite lingering trade tensions between Washington and Beijing, Exxon on Monday announced a 20-year agreement to send liquefied natural gas to China. The deal calls for China’s Zhejiang Provincial Energy Group to purchase 1…… MORE
Climate change makes poor countries poorer, widening global inequality, researchers say
Climate change is having a serious impact on economic growth across the world — and it’s worse for poor countries that already had a lot of catching up to do, according to a new study. Two Stanford University researchers modeled the country-by-country effects of global warming over a 50-year period, and published their findings in…… MORE
