Category Archives: CNN – Business

Jamie Dimon gets a raise to $31 million after JPMorgan’s record year

Jamie Dimon gets a raise to $31 million after JPMorgan’s record year

JPMorgan Chase raked in a record profit last year, and chief executive Jamie Dimon is getting a pay hike. The company’s board of directors approved a $31 million pay package for 2018 that includes cash and stock awards, according to a public filing. That’s 5% more than the banker received last year. JPMorgan is one…MORE

This reformed ‘club rat’ has raised millions for clean water projects

This reformed ‘club rat’ has raised millions for clean water projects

Scott Harrison describes himself as the quintessential prodigal son. At 18, he left his conservative Christian home in New Jersey for New York City, where he became a nightclub promoter. There, he led a life of excessive drinking and drugs, model girlfriends and Rolex watches. “It led to a life that looked good on the…MORE

Lampert’s winning bid for Sears swelled to $5.2 billion

Lampert’s winning bid for Sears swelled to $5.2 billion

Eddie Lampert’s plan to save Sears cost an extra $200 million before it became official. The chairman and former CEO of Sears Holdings won an auction for the company’s operating assets Wednesday, but the details weren’t clear until Thursday. The value of the final bid for Sears came in at $5.2 billion, a $200 million…MORE

Davos no-shows reflect the world in a state of crisis

Davos no-shows reflect the world in a state of crisis

President Donald Trump and other world leaders have canceled their trips to Davos to deal with more pressing matters back home. Still, the show must go on. Some 3,000 of the world’s richest and most powerful people are crowding into the small Swiss mountain town for this week’s World Economic Forum. The American president, who…MORE

Ford to make all-electric version of its F-150 truck

Ford to make all-electric version of its F-150 truck

America’s most popular vehicle is going electric. Ford will make an all-electric plugin version of the F-150 pickup truck. “We’re going to be electrifying the F-series — battery electric and hybrid,” Jim Farley, Ford’s president of global markets, said at a Deutsche Bank conference in Detroit Wednesday. The company isn’t giving any details on the…MORE

Gymboree’s second bankruptcy will kill the brand

Gymboree’s second bankruptcy will kill the brand

It’s the end of the line for Gymboree. The children’s clothing retailer filed for bankruptcy for the second time in less than two years late Wednesday. This bankruptcy will bring about the end of its flagship brand. Gymboree Group said it plans to start closing all of its Gymboree and Crazy 8 branded stores, according…MORE

Hitachi shelves $20 billion nuclear power plant in UK

Hitachi shelves $20 billion nuclear power plant in UK

Hitachi has shelved plans for a $20 billion nuclear power plant in the United Kingdom, raising questions over future energy supplies in the country. The Japanese conglomerate said in a statement Thursday that it has stopped work on the project in Wales after failing to reach a deal with the British government. Horizon Nuclear Power,…MORE

China’s Huawei reportedly targeted in US criminal probe

China’s Huawei reportedly targeted in US criminal probe

US federal prosecutors are reportedly working on a criminal investigation into Chinese telecom equipment giant Huawei. Investigators are looking into whether the firm stole trade secrets from US business partners, The Wall Street Journal reported Wednesday, citing unnamed sources. The reported probe would complicate efforts by the US and Chinese governments to reach a deal…MORE

France wants Renault to replace its jailed CEO Carlos Ghosn

France wants Renault to replace its jailed CEO Carlos Ghosn

Carlos Ghosn’s days as chief executive and chairman of French carmaker Renault are numbered. The legendary auto executive, who has been locked up in a Tokyo jail for nearly two months on charges of financial misconduct while chairman of Nissan, has lost the backing of Renault’s biggest shareholder, the French state. French Economy Minister Bruno…MORE

How’s the economy doing? Shutdown makes it hard to tell

How’s the economy doing? Shutdown makes it hard to tell

The record-breaking government shutdown is putting some key economic reports on ice, creating more uncertainty for businesses, investors and farmers. The shutdown, now in its fourth week, has delayed the release of several reports ranging from new home sales to soybean purchases. Much of the data is normally published by the Commerce Department, but other…MORE