Category Archives: CNN – Business

Dumplings without pork? Swine fever is hitting Chinese consumers

Dumplings without pork? Swine fever is hitting Chinese consumers

African swine fever has ravaged China’s pig population, and the country’s consumers are feeling the pain. Some are even switching to other meats as the dietary staple becomes unaffordable. Pork in China now costs nearly 70% more than it did a year ago, according to data released Tuesday by China’s National Bureau of Statistics. The…MORE

Asian markets move higher after Wall Street gains

Asian markets move higher after Wall Street gains

Asian stocks moved higher on Wednesday, following Wall Street’s gains overnight. But Hong Kong markets wavered a bit as tensions continue to brew in the financial hub. Japan’s Nikkei 225 climbed 1.4% in early trading, while South Korea’s Kospi rose 0.4%. South Korea’s central bank on Wednesday reduced a key interest rate by 25 basis…MORE

ProPublica and Texas Tribune joining forces to create new investigative unit

ProPublica and Texas Tribune joining forces to create new investigative unit

ProPublica is widely thought to be the gold standard of nonprofit investigative journalism. And The Texas Tribune has the same reputation on the local level, with coverage of the Lone Star State that is commonly cited as a model for nonprofit news startups. Now they are coming together to launch a co-branded investigative reporting unit.…MORE

Creditors are challenging Puerto Rico’s financial oversight board. But the Supreme Court seems skeptical

Creditors are challenging Puerto Rico’s financial oversight board. But the Supreme Court seems skeptical

Puerto Rico’s financial oversight board might live to guard the island’s restructuring for another day. During Supreme Court arguments Tuesday, justices appeared to lean in favor of leaving the board in place. Congress created the board, which is tasked with monitoring the territory’s financial health, three years ago. Aurelius Investments, one of Puerto Rico’s creditors,…MORE

Yet another company has been hit by a ransomware attack

Yet another company has been hit by a ransomware attack

Hackers have struck again with yet another ransomware attack. This time the victim was Pitney Bowes, a technology company based out of Stamford, Connecticut that provides ecommerce, shipping, data and mailing services. The company confirmed the attack on its website and is currently working to restore the affected systems. Its shipping and mailing services appear…MORE

Charles Schwab talks about the zero-commission brokerage wars

Charles Schwab talks about the zero-commission brokerage wars

If you are still paying any commission to trade stocks online then you’re paying too much. The discount brokerage business, in the span of about a week, has reinvented itself with a business model of zero commissions. The Charles Schwab Corporation was the first major broker to kill off commissions earlier this month — although…MORE

Sears’ future is still in doubt a year after bankruptcy filing

Sears’ future is still in doubt a year after bankruptcy filing

Sears filed for bankruptcy a year ago today. And while the company used the process to shed debt, get out of store leases it didn’t want and dodge liquidation, the last 12 months have hardly been a success. And there are signs that the store’s future may be in greater doubt than when it emerged…MORE

Dow pops 237 points on blockbuster earnings

Dow pops 237 points on blockbuster earnings

Wall Street celebrated on Tuesday after the latest results from corporate America suggested maybe the sky isn’t falling after all. Blockbuster earnings from the likes of JPMorgan Chase and UnitedHealth sent the Dow climbing 237 points, or 0.9%. The S&P 500 rallied 1%, while the Nasdaq jumped 1.2%. After weeks of trying to decipher the…MORE

Wells Fargo takes $1.6 billion hit linked to fake-account scandal

Wells Fargo takes $1.6 billion hit linked to fake-account scandal

Wells Fargo’s fake-account scandal continues to haunt the big bank, exacerbating headaches caused by shrinking interest rates. Wells Fargo revealed on Tuesday a 23% drop in third-quarter profit that disappointed investors. The decline was driven by a $1.6 billion charge for legal costs linked to the bank’s infamous retail sales tactics. The legal hit underscores…MORE