Category Archives: CNN – Business

‘Avengers: Endgame’: How much will Marvel’s epic finale make this weekend?

“Avengers: Endgame” has the potential to shatter records this weekend as Marvel fans around the world flock to theaters to see how the epic saga ends. The highly-anticipated sequel to last year’s “Avengers: Infinity War” is on track to have the highest-grossing opening weekend in box office history both domestically and globally. The record is…MORE

Wall Street is killing the European investment bank

Europe’s biggest investment banks are getting trounced by their American competitors. And it’s not clear they’ll be able to make up lost ground any time soon. Barclays, Credit Suisse and UBS reported another round of lackluster investment banking results this week. And Deutsche Bank disclosed Thursday that first quarter revenue from its corporate and investment…MORE

3M, the company that makes Scotch tape, is cutting 2,000 jobs

3M, which makes Post-It notes and Scotch tape, is cutting 2,000 jobs around the world. The industrial manufacturer made the announcement Thursday as it reported weak sales during its most recent quarter and darkened its outlook for the year ahead. Sales slid 5% to $7.9 billion last quarter compared to the same time period a…MORE

Adidas is making a recyclable shoe

Adidas is trying to achieve its sustainability goals with a recyclable running shoe. It took the company nearly 10 years to figure out how to build a shoe that can be recycled and turned into another shoe, Adidas said in a statement last week. The new shoe, called Futurecraft.Loop, is made out of a single…MORE

An NFL star gave his teammates Amazon stock. There’s a better gift

Are you looking for the perfect Mother’s Day or birthday present? What about stocks? Seattle Seahawks quarterback Russell Wilson gave the gift that keeps on giving, when he gifted 13 of his teammates’ $12,000 worth of Amazon stock this week. Amazon is looking like a pretty good stock selection. The online retailer’s shares are up…MORE

Iraq’s oil boom could be derailed by a lack of water

Iraq’s oil boom could be in trouble because of a shortage of water it needs to keep the wells pumping. Oil output has doubled over the past decade, putting the country on track to overtake Canada as the world’s fourth largest producer by 2030, the International Energy Agency said in a report on Thursday. That…MORE

The American economy looked like a drag just a few months ago. Not anymore

Just a few months ago, forecasters saw trouble ahead for the American economy. A deceleration from the tax-cut stimulus of 2018, a sudden drop-off in consumer spending, a stock market crash and trade policy brinksmanship had economists warning of a giant pothole in the first quarter and a recession potentially around the corner. Even Kevin…MORE

Deutsche Bank and Commerzbank abandon merger talks

Merger talks between Germany’s two biggest banks have collapsed. Deutsche Bank and Commerzbank announced Thursday that they would abandon merger discussions that started six weeks ago. The banks said in statements that execution risks, restructuring costs and capital requirements from a deal would have outweighed the benefits. A merger would have created a German national…MORE

Amazon earnings; Tesla’s ugly quarter; Facebook fine

1. Amazon earnings: Shares in Amazon have gained 26% so far in 2019, easily outpacing the rest of the S&P 500, which has advanced roughly 17%. The e-commerce giant could add to its momentum when it reports earnings after the closing bell. Analysts expect Amazon to report sales of nearly $60 billion for the first…MORE

Walmart’s $9 billion deal to sell its UK supermarkets is dead

British regulators have derailed a blockbuster merger between two of the country’s biggest supermarket chains. The United Kingdom’s Competition and Markets Authority said on Thursday that it has blocked Walmart’s proposed sale of its British supermarket brand Asda to Sainsbury’s. The deal valued Asda at £7.3 billion ($9.4 billion), and would have created a mega…MORE