Category Archives: CNN – Business

Bitcoin is back — but can the comeback last?

Bitcoin is back — but can the comeback last?

Bitcoin, which recently celebrated its eleventh anniversary, has surged this year. Prices have more than doubled to around $8,500 in 2019. Bitcoin has enjoyed a nice rally in recent weeks as well, even as skepticism about Facebook and and its Libra cryptocurrency mounts in Washington and Europe. It appears that bitcoin fans are not worried…MORE

Exclusive: This billionaire says Elizabeth Warren is a ‘superficial, nasty hater’

Exclusive: This billionaire says Elizabeth Warren is a ‘superficial, nasty hater’

Hedge fund billionaire Leon Cooperman escalated his fight with Elizabeth Warren on Friday by calling the Democratic presidential candidate a “superficial, nasty hater” who isn’t interested in dealing with facts. “The voting public should not be taken in by this political charlatan,” Cooperman told CNN Business in an email. His comments come after Warren took…MORE

Ford workers approve labor deal

Ford workers approve labor deal

Union members at Ford easily approved a new four-year labor deal with the automaker, avoiding the strike that idled rival General Motors for nearly six weeks. The United Auto Workers union announced that 56.3% of members at Ford voted to approve the deal. Workers at only a handful of factories voted to oppose it. Support…MORE

Wait. Is that … hope for JCPenney?

Wait. Is that … hope for JCPenney?

JCPenney has a long way to go before it’s a turnaround story. But the company had some rare good news Friday: It was able to trim its losses in the third quarter, and it raised its profit forecast, even as its sales continue to fall. The company reported an operating net loss of $97 million…MORE

Starbucks opens its biggest store ever

Starbucks opens its biggest store ever

Chicago just got a major caffeine jolt from Starbucks. The coffee chain opened its world’s largest Roastery location on Friday. The five-story location is 35,000 square feet, overtaking the Tokyo Roastery as Starbucks’ biggest location. Located in the city’s Magnificent Mile neighborhood, the new Roastery is replacing a former Crate and Barrel location. It was…MORE

US consumers are gearing up for their next challenge: holiday shopping

US consumers are gearing up for their next challenge: holiday shopping

Happy Friday. A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Retailers are gearing up for the holiday season — and so far, it looks to be a good one. All signs point to healthy spending from Americans, who are expected…MORE

Hong Kong expects first annual recession since 2009 as protests rage

Hong Kong expects first annual recession since 2009 as protests rage

The Hong Kong government is warning that six months of increasingly violent mass protests will cause the economy in the Asian financial hub to shrink this year. A forecast published Friday by the government predicts Hong Kong’s economy will contract by 1.3% in 2019, marking the first year of recession since the global financial crisis…MORE

Alibaba says the ‘future of Hong Kong remains bright’ as it kicks off share sale

Alibaba says the ‘future of Hong Kong remains bright’ as it kicks off share sale

Hong Kong’s financial markets are getting a boost of confidence from Alibaba’s multibillion-dollar public offering. The Chinese e-commerce company, founded by billionaire entrepreneur Jack Ma, said Friday it would begin selling shares to retail investors for up to 188 Hong Kong dollars ($24) each. It began selling to institutional investors earlier this week, and it…MORE