Category Archives: CNN – Business

Alibaba says the ‘future of Hong Kong remains bright’ as it kicks off share sale

Alibaba says the ‘future of Hong Kong remains bright’ as it kicks off share sale

Hong Kong’s financial markets are getting a boost of confidence from Alibaba’s multibillion-dollar public offering. The Chinese e-commerce company, founded by billionaire entrepreneur Jack Ma, said Friday it would begin selling shares to retail investors for up to 188 Hong Kong dollars ($24) each. It began selling to institutional investors earlier this week, and it…MORE

US-China trade deal negotiations hit another snag

US-China trade deal negotiations hit another snag

President Donald Trump was supposed to sign a partial trade deal with Chinese President Xi Jinping next week, but negotiations over the final text have reached a rough patch, according to people familiar with the matter. It’s not clear when a final text will be ready for the two men to sign. The planned signing…MORE

The worst isn’t over yet for Kraft Heinz

The worst isn’t over yet for Kraft Heinz

Kraft Heinz was crushed like an overripe tomato Thursday after Goldman Sachs cut its rating on the struggling food company to a “sell,” citing concerns about a “persistent” decline in profit. Shares of Kraft Heinz fell more than 6% following the downgrade. It was the second-worst performer in the S&P 500, trailing only tech giant…MORE

The one-trick tech pony is dead

The one-trick tech pony is dead

The rise and fall of Fitbit on Wall Street is a cautionary tale for other one-trick pony techs. Fitbit makes activity trackers and smartwatches that are beloved by many. But it ultimately couldn’t compete with similar products from tech giants Apple and Samsung. That’s a big reason why Fitbit recently agreed to sell itself to…MORE

Gannett shareholders approve GateHouse merger

Gannett shareholders approve GateHouse merger

Hundreds of local newspapers are now under one umbrella company, making it the largest US media company by print circulation and completing a deal that has journalists and advocates for strong local media worried about the future. New Media Investment Group, parent company of GateHouse Media, announced its plan to acquire Gannett in August. On Thursday, the deal…MORE

Smith & Wesson will become a standalone gun business

Smith & Wesson will become a standalone gun business

American Outdoor Brands has announced plans to split its firearms unit, Smith & Wesson, from its outdoor products business, citing “changes in the political climate.” The firm said in a statement Wednesday that it would create two independent, publicly traded companies. The restructuring is expected to be completed in the second half of next year.…MORE

Twinkies is being turned into a breakfast cereal

Twinkies is being turned into a breakfast cereal

More than six years after a Twinkies shortage gripped the United States, the sweet snack is stronger than ever and taking on new forms. Post is partnering with Hostess to turn the 90-year-old treat into a cereal that will be available nationwide in late December. The taste of Twinkies Cereal “replicates the distinctive taste and…MORE

Walmart surges heading into holidays

Walmart surges heading into holidays

Walmart notched another quarter of strong sales growth and raised its expectations for the holiday shopping season. “We’re prepared for a good holiday season,” Walmart CEO Doug McMillon said in a statement Thursday. Walmart, America’s largest retailer, is a bellwether of consumer health and the retail sector. The company’s upbeat results are a sign American…MORE