Tag Archives: Business

GM is halting production at a 78-year-old Detroit-area plant this week

New York (CNN Business)General Motors’ 78-year-old transmission plant in Warren, Michigan is halting production this week. “We appreciate their commitment and hard work to build the highest quality possible into each and every transmission produced at Warren Transmission Operations,” GM said. The company said 60 workers have transferred to other factories in the United States and 25 workers are retiring. GM describes the plant of being “unallocated,” meaning the plant isn’t completely shutting down for now. Instead, […]

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Congress Is Pissed at Facebook and the FTC

Republican and Democratic lawmakers alike are furious over reports that the Federal Trade Commission is prepared to settle with Facebook over widespread privacy violations for just $5 billion. But that doesn’t mean there’s currently an acceptable bipartisan solution floating around the marble halls of the Capitol. “The terrible message sent by this tap on the wrist is that enforcement of privacy protections is a hollow paper tiger in our nation,” senator Richard Blumenthal (D-Connecticut) told WIRED Wednesday. […]

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The Hard-Luck Texas Town That Bet on Bitcoinand Lost

In 1952, The Saturday Evening Post christened Rockdale, Texas, “The Town Where It Rains Money.” An estimated 100 million tons of lignite coal lay buried a few miles south of the city limits, and Alcoa had just swooped in to build a $100 million smelter that would use the cheap energy source to produce aluminum for fighter planes, skyscrapers, auto­mobiles, and more. “At the mere mention of somebody blowing into town with $100,000,000 to spend, many citi­zens […]

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Boots is closing 200 stores in the UK

London (CNN Business)Boots has announced plans to close 200 stores in the United Kingdom, making it the latest big retailer to take the knife to costs. There are over 2,400 Boots stores in the United Kingdom, meaning that roughly 8% of existing stores will be closed. The company said the “overwhelming majority” of workers would be moved to other locations. The company said it was expecting a 1% hit to revenue as a result of the closures. […]

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Meal kits, Kombucha and snacks for delivery: Convenience stores are getting a makeover

New York (CNN Business)America’s convenience stores are trying to shake off their reputation as gas stations with hot dogs on rollers and Slurpees inside. Traditional players are responding to consumer trends and competition. Shoppers who visit convenience stores tend to be younger and more diverse than the overall population. Nearly a third of Millennials shop at convenience stores at least once a week, according to Kantar data. And younger, time-strapped customers are demanding healthier foods, analysts say. […]

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Club Med’s Chinese owner wants to buy Thomas Cook

London (CNN Business)The Chinese owner of Club Med wants to buy the tour operating business of Thomas Cook, a move that could rescue the 178-year-old British brand and help it expand in Asia. Thomas Cook is a travel company that handles vacation bookings and has its own airline and hotels. But it’s struggled with weak demand and high debt. The company has posted multiple profit warnings and shares are down 84% in the past year. While its […]

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5 Badass Women Who Persevered and Built a Business

The entrepreneurial world has been a boys club for a long time. Recently that trend has been changing. The number of woman-owned businesses increased by 45% from 2007 to 2016. They represent over $1.6 trillion dollars in revenue. Are you looking to start your own business? These women will inspire you to push forward and kick ass. Let’s get inspired. 1. Riawna Capri and Nikki Lee In So Cal, high end salons are plentiful. Competition is fierce. […]

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Trumps Twitter Meeting, an Ethereum Thief, and More News

President Donald Trump tweeted invective at Twitter again this morning, but this time Jack Dorsey took the conversation off-platform to the White House. In other news, a controversial US Census question creates some strange bedfellows, and a "blockchain bandit" is pilfering millions in cryptocurrency. Here's the news you need to know in two minutes or less. Trump insulted Twitter, then met with its CEO Trump attacked Twitter on its own platform this morning, calling them "very discriminatory" […]

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Singapores Saleswhale raises $5.3M to bring AI to sales and marketing teams

Saleswhale, a Singapore-based startup that uses AI to help marketers and salespeople close deals, has announced a Series A round worth $5.3 million. The investment is led by Monk’s Hill Ventures — the Southeast Asia-focused firm that took part in Saleswhale’s seed round in 2017 — with participation from existing backers SalesWhale’s founding team (left to right): Venus Wong, Ethan Le and Gabriel Lim While AI is a (genuine) threat to many human jobs, SalesWhale sits on […]

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In the 2020 Race, What Is the Value of Social Media Stardom?

If you were to get all of your news last month from Twitter (and, well, maybe you did), you might reasonably conclude that the Democrat to beat in 2020 is none other than a 37-year-old Indiana mayor with a knack for linguistics and a tongue-twister of a name. According to the social media monitoring service Crowdtangle, Pete Buttigieg got the most interactions on Twitter of any Democratic candidate over the past 30 days. But if you were […]

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