Category Archives: CNN – Business

Ford’s woes overseas get worse

Ford’s woes overseas get worse

Ford is doing pretty well at home. But it’s overseas struggles are getting worse. The US automaker reported on Wednesday it made $7.6 billion in North America in 2018, a touch below what it made last year, although it did report a strong fourth quarter. Ford Credit, the company’s financial services arm, made $2.6 billion…MORE

Bitcoin used to draw a Davos crowd. Now it’s a sideshow

Bitcoin used to draw a Davos crowd. Now it’s a sideshow

When the global business elite last gathered in Davos for their annual shindig, one bitcoin was worth $10,000. This year, a unit of the cryptocurrency buys just $3,560. Bitcoin, its alternatives and the technology that underpins them were a major talking point at last year’s World Economic Forum. The collapse in value is reflected in…MORE

China to Davos: Stop freaking out about our economy

China to Davos: Stop freaking out about our economy

China has a message for the Davos crowd: Fear about an economic slowdown is overblown. In a speech at the World Economic Forum, Vice President Wang Qishan said that growth remains substantial, and that it’s important for China to focus on the long term. “There will be a lot of uncertainties in 2019, but something…MORE

Gillette says it’s satisfied with sales after controversial ad

Gillette says it’s satisfied with sales after controversial ad

Procter & Gamble said Gillette sales haven’t budged after its controversial #MeToo ad — but it’s calling the campaign a big success. Gillette’s sales following the commercial were “in-line with pre-campaign levels,” P&G CFO Jon Moeller said on a call with reporters Wednesday. Its subscription business, Gillette Shave Club, continued to grow sales and add…MORE

EU leaders and business chiefs are turning up the heat over Brexit

EU leaders and business chiefs are turning up the heat over Brexit

European business and political leaders are ratcheting up the pressure on UK Prime Minister Theresa May to deliver an orderly Brexit. German Chancellor Angela Merkel used her 30-minute address at the World Economic Forum on Wednesday to make clear that she doesn’t want the United Kingdom to crash out of the bloc. But she did…MORE

Sony Europe moves legal base out of UK because of Brexit

Sony Europe moves legal base out of UK because of Brexit

Britain’s dithering over Brexit has gone on too long for Sony. The Japanese company said Wednesday that it would register its European business in Amsterdam, switching its legal base from London. It blamed uncertainty surrounding Britain’s plans to leave the European Union. The announcement underscores the fears over Brexit among top Japanese corporations, many of…MORE

China will overtake the US as the world’s biggest retail market this year

China will overtake the US as the world’s biggest retail market this year

China’s economy may be slowing down, but the country is still set to eclipse the United States as the world’s top retail market for the first time. Retail sales in China will reach more than $5.6 trillion this year, about $100 billion more than in the United States, according to research published Wednesday by consulting…MORE

Brexit-backer James Dyson is moving his company HQ to Singapore

Brexit-backer James Dyson is moving his company HQ to Singapore

British entrepreneur James Dyson was a prominent supporter of Brexit. Now, he’s moving his company to Singapore. Dyson, which makes high-end appliances like vacuums and hair dryers and is working on an electric car, announced Tuesday that it will relocate its headquarters from the United Kingdom to Singapore to be closer to its customers and…MORE

Jair Bolsonaro says Brazil is open for business

Jair Bolsonaro says Brazil is open for business

Jair Bolsonaro had a simple message for the bankers, investors and chief executives gathered in Davos: Brazil is open for business. Bolsonaro was sworn in as president of Brazil earlier this month following a polarizing election campaign in which he promised to move the country to the right. In a short speech on Tuesday, he…MORE