Category Archives: CNN – Business

Asia will feel the pain if US sanctions shut down Iran’s oil exports

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

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