Category Archives: CNN – Business

Gillette’s new ad isn’t about shaving. It’s about men in the age of #metoo

Gillette’s new ad isn’t about shaving. It’s about men in the age of #metoo

Gillette’s newest advertisement isn’t about shaving, or beards or personal hygiene. The company’s “We Believe” ad — a one minute and 48 second spot posted to its social media accounts this week — addresses serious issues like toxic masculinity, sexual harassment and #metoo. Gillette plays on its famous tagline and asks: “Is this the best…MORE

Volkswagen will add 1,000 jobs at Tennessee plant

Volkswagen will add 1,000 jobs at Tennessee plant

Volkswagen is investing $800 million in its plant in Chattanooga, Tennessee, a move that will add 1,000 jobs to the factory, the company announced Monday. It plans to build electric cars there. Volkswagen’s investment in Tennessee comes weeks after General Motors announced plans to close three North American plants and shift its production focus away…MORE

The German economy just had its worst year since 2013

The German economy just had its worst year since 2013

Germany may have dodged a recession but its economic performance in 2018 was still the weakest in five years, adding to evidence that trade tensions and a sharp slowdown in China are hampering global growth. The German economy grew 1.5% in 2018, according to preliminary government data published Tuesday. That’s a sharp drop from the…MORE

Carlos Ghosn’s wife slams Japan’s ‘draconian’ legal system

Carlos Ghosn’s wife slams Japan’s ‘draconian’ legal system

Carlos Ghosn’s wife has slammed the Japanese legal system as “draconian” in a letter that says her husband has been “callously and needlessly” detained. The nine-page letter from Carole Ghosn to watchdog group Human Rights Watch says that the former Nissan chairman has been held under “harsh physical conditions” since his arrest nearly two months…MORE

PG&E, utility tied to wildfires, will file for bankruptcy

PG&E, utility tied to wildfires, will file for bankruptcy

Pacific Gas and Electric, facing billions of dollars in claims over the deadly 2018 Camp Fire, is headed to bankruptcy court. PG&E, the state’s largest utility, said Monday it will file for bankruptcy on January 29, after a 14-day waiting period required by California law. It needs to use the bankruptcy process, which will allow…MORE

Brexit is a nightmare for currency traders

Brexit is a nightmare for currency traders

Trying to get a handle on where the British pound is headed? Good luck with that. UK lawmakers are widely expected to reject the divorce deal with the European Union negotiated by Prime Minister Theresa May on Tuesday. The only real question is the margin of the loss. Jochen Stanzl, an analyst at CMC Markets,…MORE

Saudi Arabia: We can ‘easily’ cut oil supply further if global economy stalls

Saudi Arabia: We can ‘easily’ cut oil supply further if global economy stalls

Saudi Arabia’s energy minister says that OPEC and its allies are prepared to quickly respond to a global economic slowdown. Khalid Al Falih told CNN Business’ Emerging Markets Editor John Defterios that while he doesn’t “see a big economic recession,” corrective actions are “easily within our control.” “If we see a slowdown … it’s going…MORE

California utility PG&E replaces CEO amid bankruptcy worries

California utility PG&E replaces CEO amid bankruptcy worries

Embattled utility PG&E, facing potentially billions of dollars in liability over California’s deadly wildfires last year, has replaced its CEO. The company said Sunday night that CEO Geisha Williams has stepped down. She will be replaced temporarily by John Simon. The PG&E (PCG) board said it would look to hire a new chief executive with…MORE

Ford unveils its most powerful Mustang yet

Ford unveils its most powerful Mustang yet

Ford unveiled the most powerful factory-produced Mustang the company has ever made at the Detroit Auto Show Monday. The new Shelby GT500 has a supercharged V8 engine that will produce more than 700 horsepower. More testing and validation needs to be done before an exact horsepower figure can be announced, the company said. What we…MORE

Walter Shipley, who helped create what is now JPMorgan Chase, has died

Walter Shipley, who helped create what is now JPMorgan Chase, has died

Walter V. Shipley, the architect of several bank mega mergers that reshaped the industry, has died. He was 83. Shipley was the chairman and CEO of Chase Manhattan Bank. He led several mergers in the ’80s and ’90s. JP Morgan Chase CEO Jamie Dimon announced Shipley’s passing in a letter to employees Saturday. “On Friday,…MORE