Business News

Playboy columnist sues Trump White House over press pass suspension

Playboy columnist sues Trump White House over press pass suspension

Playboy magazine White House correspondent Brian Karem is going to court to fight for the immediate restoration of his press pass. He filed suit in federal court on Tuesday, naming President Trump and press secretary Stephanie Grisham as defendants, and alleging that the White House has violated his Constitutional right to due process. Karem, who…

Netflix could face trouble ahead. Here’s why

Netflix could face trouble ahead. Here’s why

“13 Reasons Why” returns to Netflix this weekend for its third season, a show whose premise — originally built around the mystery surrounding a teen suicide — really should have wrapped up after one. In a way, the streaming service’s decision to hang onto that series, even as it irritates some subscribers by shedding others,…

Facebook commissioned a study of alleged anti-conservative bias. Here’s what it found

Facebook commissioned a study of alleged anti-conservative bias. Here’s what it found

Facebook released the results of a year-long, independent investigation of the company’s alleged anti-conservative bias on Tuesday. Although Facebook has made some progress in eliminating anti-conservative bias, the company still has work left to do, the investigators say. The eight-page report, conducted by former Republican Senator Jon Kyl and others at the law firm Covington…

US tariffs on China could cost American households $1,000 per year, JPMorgan says

US tariffs on China could cost American households $1,000 per year, JPMorgan says

President Donald Trump and his advisers insist their trade war with China won’t hurt American consumers. But analysts say otherwise. The tariffs Trump has already imposed on China are estimated to cost the average American household $600 per year, according to a report by JPMorgan Chase. That will rise to $1,000 if Trump carries through…

US Steel temporarily lays off 200 workers in Michigan

US Steel temporarily lays off 200 workers in Michigan

US Steel is temporarily laying off about 200 workers from a Michigan plant as the steel-making industry continues to falter. The company notified the state of Michigan earlier this month that it would be laying off employees at its Great Lakes Works factory near Detroit. The layoffs were expected: US Steel said in June it…

Dow snaps three-day winning streak

Dow snaps three-day winning streak

The Dow snapped a three-day winning streak and finished 173 points lower on Tuesday. The drop follows a week and a half of turbulent trading. The Dow closed 0.7% lower, while the S&P 500 fell 0.8% and the Nasdaq Composite declined 0.7%. With news about trade wars, recessions and economic stimulus abating for the time…

Dick’s Sporting Goods is testing if it should stop selling guns

Dick’s Sporting Goods is testing if it should stop selling guns

Dick’s Sporting Goods considered stopping all gun sales in early 2018. A shooting at the high school in Parkland, Florida, had killed 17 people. And the company was shocked into action. “We did have a conversation about that,” CEO Ed Stack told CNN Business earlier this year. “At the time we felt it was a…

President Trump isn’t the only one who wants a weaker dollar

President Trump isn’t the only one who wants a weaker dollar

Happy Tuesday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. President Donald Trump isn’t the only one who wants a weaker US dollar. The currency’s strength has hung over this corporate earnings season. For multinational companies, it makes exports lose…

China says it could do more to stimulate the economy after tiny rate cut

China says it could do more to stimulate the economy after tiny rate cut

China signaled Tuesday that it could take bigger steps to boost its flagging economy after unveiling what amounted to the slimmest of rate cuts on new loans for companies. “There is room for us to cut interest rates,” said Liu Guoquiang, the deputy governor of the People’s Bank of China, while speaking with reporters in…

Asian markets slightly higher after Huawei reprieve, China rate move

Asian markets slightly higher after Huawei reprieve, China rate move

Asian markets were slightly higher as China took the next, critical step in a long-awaited money management reform, and as the United States gave the Chinese tech company Huawei a slight reprieve in Washington’s ongoing trade war with Beijing. China’s Shanghai Composite Index edged up 0.2%, following a 2.1% gain the day before. Hong Kong’s…

Hong Kong’s richest man cuts $5.6 billion deal for a British pub chain

Hong Kong’s richest man cuts $5.6 billion deal for a British pub chain

A real estate company controlled by Hong Kong’s richest man is paying a big premium to buy a British pub chain and brewer. Li Ka-shing‘s CK Asset Holdings said Monday that it had reached an agreement to buy Greene King in a deal worth £4.6 billion ($5.6 billion), including its debt. The Hong Kong company…

Amazon to pass along costs of France’s ‘digital services tax’

Amazon to pass along costs of France’s ‘digital services tax’

Amazon will pass along the costs of a new French digital tax to its third-party sellers beginning on October 1, the company told US trade officials Monday. The new policy applies to Amazon sellers based in France, as well as US-based sellers shipping to French customers, said Peter Hiltz, Amazon’s director of international tax policy…

Fast food companies are betting big on delivery. It might not pay off

Fast food companies are betting big on delivery. It might not pay off

This is the golden age of food delivery. Years ago, most people who wanted food to arrive at their door were limited to pizza. But delivery platforms like DoorDash, Uber Eats, Postmates and Grubhub have opened the floodgates: Now, people can order breakfast from Panera, coffee from Starbucks, a burrito from Chipotle, a burger from…

Disney unveils international rollout of streaming service

Disney unveils international rollout of streaming service

Disney has released the international launch dates, prices and platforms for its upcoming Disney+ streaming service. The product, which is set to be released in the United States on November 12, will be available in Canada and the Netherlands on the same day. It will then launch in Australia and in New Zealand one week…

Nike further expands protections for pregnant athletes after fierce backlash

Nike further expands protections for pregnant athletes after fierce backlash

Nike is making further changes to its maternity policy for sponsored athletes after its previous rules sparked a backlash from high-profile stars. The policy adjustment ensures that female athletes won’t be “adversely impacted financially for pregnancy” for 18 months, which is six months more than under the previous policy. The company confirmed the changes to…

Dow jumps 250 points on hopeful signals about trade

Dow jumps 250 points on hopeful signals about trade

The Dow soared Monday and US stocks scored their third straight rally as investors grew increasingly optimistic about a potential resolution to the the trade war and a limit to its economic fallout. Although President Donald Trump has repeatedly fanned the trade war flames, he tweeted Sunday that the United States and China were “talking.”…

Germany’s central bank issues recession warning

Germany’s central bank issues recession warning

Germany’s central bank is warning that the country could be slipping into recession. The Bundesbank said Monday that Europe’s largest economy “is probably set to remain lackluster in the third quarter of 2019.” It predicts that GDP “could continue to fall slightly.” GDP for the three months ended June contracted 0.1% compared to the first…

China’s central bank is cutting interest rates by stealth

China’s central bank is cutting interest rates by stealth

Central banks around in the world are cutting interest rates to head off recession. China is now joining them, but in a roundabout way. On Saturday, the People’s Bank of China launched a long-awaited reform to the way it manages money in the world’s second biggest economy to support growth and employment. Its aim is…