Tag Archives: Business

Elon Musk says SpaceX’s Mars rocket will be cheaper than he once thought. Here’s why

New York (CNN Business)The rocket and spacecraft at the center of Elon Musk’s plan to colonize Mars could fly humans into orbit within one year and cost billions of dollars less than he once predicted. Theprototype, welded together in one month, indicates the activity that’s taken place over the past 10 months as engineers ramped up development of Starship. In the near future, SpaceX plans to light up its new prototype on a brief flight about 65,000 […]

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US companies tell Apple and Amazon to put planet before profits

Patagonia, Ben & Jerrys, Danone and others take out full-page ad in New York Times addressed to business leaders The bosses of some of the worlds biggest companies, including Apple and Amazon, have been told to put the planet before profits not by environmental campaigners but by other multinationals, including Danones US arm, and a unit of Unilever. A group of more than 30 American business leaders, including the heads of outdoor clothing brand Patagonia, The Body […]

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White House insists Trump not having second thoughts on China trade war

Asked he is rethinking tariffs, president says: Sure. Why not? only for press secretary to say he meant he regrets not raising tariffs higher Donald Trump admitted on Sunday to having second thoughts about raising tariffs against China, sparking brief hopes of a possible truce in the trans-Pacific trade war. But his spokeswoman later insisted the only regret the president had was not imposing even greater tariffs. It appeared to be the latest incident in a White […]

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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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