Category Archives: CNN – Business

Retailers are resisting UK plans for deposits on all plastic drink bottles

Retailers are resisting UK plans for deposits on all plastic drink bottles

Retailers are pushing back against UK government plans for a deposit return program designed to encourage recycling of plastic bottles and aluminum cans. The government is considering whether deposits on bottles should apply to all drink containers, or be limited to containers that are 750 milliliters (26.4 fluid ounces) or less. Environmental groups overwhelmingly support…MORE

Carmakers brace for a terrible year as China’s slowdown deepens

Carmakers brace for a terrible year as China’s slowdown deepens

After a tough 2018, global automakers look set for another bruising year. Data published Monday show that the slowdown in China, the world’s biggest car market, is getting worse. And the United States is considering imposing tariffs on imported cars, a move that would hit global brands hard. Passenger car sales in China slumped by…MORE

Will backlash against Amazon’s NYC tax breaks kill other deals?

Will backlash against Amazon’s NYC tax breaks kill other deals?

Is the Amazon-New York City split up on Valentine’s Day the start of a new trend? Critics of the deal think so. They say it’s the beginning of the end of state and local governments showering companies with billions of dollars in tax breaks and other incentives. “Anything is possible: today was the day a…MORE

Payless is closing all its 2,100 US stores

Payless is closing all its 2,100 US stores

Payless is the latest retail chain to close up shop in the United States. The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, a spokesperson told CNN Business on Friday. Liquidation sales will begin on Sunday and stores will begin closing in…MORE

JPMorgan’s move into crypto puts the rest of the industry on notice

JPMorgan’s move into crypto puts the rest of the industry on notice

JPMorgan Chase’s splashy new digital coin could change how banks approach blockchain and cryptocurrency. The initial applications of JPM Coin aren’t revolutionary. JPMorgan said last week it would facilitate the instantaneous transfer of payments between institutional accounts. JPM Coin is just a prototype that can only be used by some of the bank’s corporate customers.…MORE

Amazon invests money in electric pickups

Amazon invests money in electric pickups

Amazon is putting money into electric trucks. The online retailer led a $700 million investment in Michigan-based electric pickup maker Rivian, the companies said Friday. Rivian unveiled an all-electric pickup and an SUV at the 2018 Los Angeles Auto Show in November and plans to begin production of the vehicles in a factory in Normal,…MORE

Ex-Goldman Sachs banker charged in 1MDB case will be sent to the United States

Ex-Goldman Sachs banker charged in 1MDB case will be sent to the United States

Roger Ng, a former Goldman Sachs banker charged by the US Justice Department for his role in Malaysia’s multi-billion dollar embezzlement scandal, will be sent to the United States to appear in federal court. Ng waived an extradition hearing in Malaysia on Friday, according to his lawyer, Marc Agnifilo. He’ll enter a not guilty plea…MORE

This is the CVS of the future

This is the CVS of the future

This is what it looks like when a drug store chain and a health insurer merge. In November, CVS completed its $69 billion acquisition of Aetna, the largest health care deal in history. Now, CVS is piloting three “HealthHub” stores in Houston with a suite of health care services that could be the drug store…MORE

Even GE’s Boston headquarters is shrinking

Even GE’s Boston headquarters is shrinking

General Electric is once again downsizing, this time shrinking the scale of its once-ambitious plan for a fancy headquarters along the Boston waterfront. The struggling light bulb and jet engine maker announced on Thursday it ditched a plan to build a 12-story office building in the Fort Point neighborhood of Boston. Instead, GE and Massachusetts…MORE

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