Markets

admin October 3, 2018

Jill Soltau, a veteran retail leader most recently in charge of Joann fabric and craft stores, will be tasked with turning around JCPenney. The company announced on Tuesday that Soltau will take over as its chief executive beginning on October 15. JCPenney has been leaderless since Marvin Ellison left in May to take the top […]

admin October 2, 2018

New General Electric boss Larry Culp just got a fresh reminder of the debt-riddled balance sheet he’s inheriting. Barely 24 hours after Culp became CEO, S&P Global Ratings downgraded the credit ratings of GE (GE) and GE Capital. Moody’s and Fitch warned they could do the same. All three ratings firms cited GE’s elevated leverage […]

admin October 2, 2018

Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon (AMZN) says the $15 minimum wage will benefit more than 250,000 Amazon employees, plus 100,000 seasonal workers. “We listened to our critics, thought hard about what […]

admin October 2, 2018

The stock market appears to like the new trade agreement between the United States, Canada and Mexico. Stocks popped after all three countries agreed to an 11th hour deal to replace NAFTA. The Dow rose 193 points, a gain of 0.7%. The S&P 500 gained 0.4%, and the Nasdaq lost 0.1%. The reworked trade deal, […]

admin October 2, 2018

Instagram has a new leader. On Monday, the company announced that Adam Mosseri will head Instagram effective immediately. Last week, Instagram founders Kevin Systrom and Mike Krieger announced they would leave the company. “We are thrilled to hand over the reins to a product leader with a strong design background and a focus on craft […]

admin October 1, 2018

General Electric is turning to an outsider to clean up a mess that took decades to create. Larry Culp, 55, is a proven leader known for his hands-on approach. He received a hero’s welcome from Wall Street on Monday after suddenly being installed as GE’s new boss. GE’s (GE) beaten-down share price spiked 10%. Culp, […]

admin October 1, 2018

Ryanair could be headed for a rough landing this year. Europe’s leading low cost airline slashed its profit forecast for the current fiscal year to between €1.1 billion ($1.27 billion) and €1.2 billion ($1.39 billion). That’s about €150 million ($174 million) less than the company had expected. Ryanair (RYAAY) said that strikes and flight cancellations […]

admin October 1, 2018

Fox News has fired contributor Kevin Jackson for his tweets about Brett Kavanaugh’s accusers. Jackson used a pejorative to refer to the three women who have accused the Supreme Court nominee of inappropriate behavior. Jackson said Thursday on Twitter that the women were not to be believed, then referred to them using a demeaning word. […]

admin October 1, 2018

Analysts are telling Tesla investors to brace themselves. “If you buy or own Tesla stock, be prepared for a wild ride,” Autotrader analyst Michelle Krebs told CNNMoney. The Securities and Exchange Commission sued Elon Musk on Thursday for making “false and misleading” statements to investors in an August 7 tweet that said he had secured […]

admin September 30, 2018

BlackBerry’s transformation from struggling smartphone company into a burgeoning leader in cybersecurity software and connected cars is on track. The company now generates more than 90% of its total revenue from software and services. And 81% of those sales are recurring. In other words, BlackBerry is no longer subject to the fickle tastes of consumers […]