Category Archives: CNN – Business

FedEx profits slip after booting major customer Amazon

FedEx profits slip after booting major customer Amazon

Losing Amazon as a customer is weighing on FedEx’s bottom line. The delivery company on Tuesday posted a slight revenue decline and a 12% drop in operating income for the three months ending August 31, compared to the same period last year. Contributing to that decline, the company said, were global trade disputes, increased costs…MORE

Lawsuit claims AT&T created fake accounts to juice DirecTV Now subscription numbers

Lawsuit claims AT&T created fake accounts to juice DirecTV Now subscription numbers

A new shareholder complaint against AT&T claims the company encouraged employees to create fake accounts for its DirecTV Now streaming service to juice its subscriber numbers and mislead investors ahead of its acquisition of Time Warner, shareholders allege in an amended complaint filed last week as part of a lawsuit against the company. According to…MORE

Everyone thought the Fed would cut rates. The market is no longer so sure

Everyone thought the Fed would cut rates. The market is no longer so sure

Just about everyone predicted the Federal Reserve would cut interest rates on Wednesday. But the market no longer thinks so. According to the CME’s FedWatch Tool, which measures what the markets are predicting the Fed will do next, the probability of a quarter percentage point rate cut is only 47%, down from 92% just a…MORE

The GM strike was inevitable. How it will end isn’t so clear

The GM strike was inevitable. How it will end isn’t so clear

In November 2016, barely a year after General Motors signed its last four-year deal with the United Auto Workers union, the problems that would lead to this week’s strike became apparent. Auto sales were slowing. Although the industry posted its seventh straight year of improved US sales in 2016, an industry record, the increase was…MORE

New York Times reporters grilled about botched Kavanaugh story

New York Times reporters grilled about botched Kavanaugh story

The two reporters at the center of the botched New York Times story about a new sexual misconduct allegation against Supreme Court Justice Brett Kavanaugh were pressed on Tuesday about the paper’s handling of the facts. Co-reporters Robin Pogrebin and Kate Kelly told CNN’s Alisyn Camerota on “New Day” that it was an “oversight” by…MORE

Cokie Roberts, broadcast journalism legend, dies at 75

Cokie Roberts, broadcast journalism legend, dies at 75

Veteran journalist Cokie Roberts, winner of three Emmys and a legend and trailblazer in broadcasting, has died at the age of 75, ABC News announced. Roberts worked in television, public radio and publishing for over 40 years. She began her tenure at ABC as a contributor for “This Week with David Brinkley” and later became…MORE

AT&T chief executive defends the company’s costly media acquisition strategy

AT&T chief executive defends the company’s costly media acquisition strategy

AT&T CEO Randall Stephenson on Tuesday deflected criticism that the company is too big and paid too much for its media businesses. Stephenson, speaking at the Goldman Sachs Communacopia conference for media and telecom companies in New York, said it still “makes sense” for the company to own both a big wireless network and content.…MORE