Category Archives: CNN – Business

Advil meet Excedrin: Pfizer and GSK are merging their consumer healthcare businesses

Advil meet Excedrin: Pfizer and GSK are merging their consumer healthcare businesses

GlaxoSmithKline and Pfizer are combining their consumer healthcare businesses in a multibillion-dollar merger. The two pharmaceutical giants — which own household names like Advil and Tums — said Wednesday that the new company would have combined sales of $12.7 billion a year. The merger will bring together Pfizer’s big sellers like Centrum and Caltrate with…MORE

SoftBank’s mobile unit plunges 15% after second biggest IPO in history

SoftBank’s mobile unit plunges 15% after second biggest IPO in history

SoftBank’s blockbuster IPO has flopped in its market debut. Shares in the Japanese company’s mobile telecommunications unit plunged 15% in Tokyo on Wednesday, their first day of trading. The business is one of Japan’s biggest wireless carriers and has provided the foundation for SoftBank CEO Masa Son’s vast tech empire. By listing a big chunk…MORE

Oil nosedives to $46. Worries about economy collide with supply glut

Oil nosedives to $46. Worries about economy collide with supply glut

The bear market in oil keeps getting worse as worries about global growth and a supply glut ratchet higher. US oil prices plummeted 7% on Tuesday to settle at $46.24 a barrel. It was crude’s weakest close since August 2017. The deepening downturn in the oil patch is yet more evidence of investors fleeing risky…MORE

Carmakers say new EU emissions targets are ‘totally unrealistic’

Carmakers say new EU emissions targets are ‘totally unrealistic’

The auto industry is pushing back on new EU targets that would slash carbon emissions produced by cars and vans. EU officials struck a deal late Monday that aims to reduce automakers’ carbon dioxide emissions from new cars by 37.5% ahead of 2030. The targeted reduction for new vans is 31%. The European Automobile Manufacturers…MORE

Alan Greenspan: Investors should prepare for the worst

Alan Greenspan: Investors should prepare for the worst

Alan Greenspan says the party’s over on Wall Street. The former Federal Reserve chairman who famously warned more than two decades ago about “irrational exuberance” in the stock market doesn’t see equity prices going any higher than they are now. “It would be very surprising to see it sort of stabilize here, and then take…MORE

Automation is helping to push women out of the workforce

Automation is helping to push women out of the workforce

Researchers at the World Economic Forum are highlighting a troubling trend: Fewer women around the world are working. WEF said in a report published Monday that women are slowly narrowing the gender gap when it comes to income and representation in senior management. But after years of closing the gap in workforce participation, momentum has…MORE

Asos stock crashes 40% as European retail chill hits spending online

Asos stock crashes 40% as European retail chill hits spending online

Asos is having a nightmare holiday season. Shares in the UK online fashion retailer plunged 40% on Monday after it warned that weak sales in the crucial month of November would harm its annual profit for 2018. “The current backdrop of economic uncertainty across many of our major markets together with a weakening in consumer…MORE

Malaysia files charges against Goldman Sachs over 1MDB scandal

Malaysia files charges against Goldman Sachs over 1MDB scandal

Malaysia has filed criminal charges against Goldman Sachs over its dealings with a state investment fund at the heart of a multibillion-dollar corruption scandal. The case relates to bond sales that Goldman (GS) arranged and underwrote for 1Malaysia Development Berhad (1MDB) in 2012 and 2013. The US investment bank and four individuals — two of…MORE

Cracks appear in the world’s biggest autos alliance

Cracks appear in the world’s biggest autos alliance

The tension in the world’s biggest autos alliance was laid bare Monday when Nissan said it had been denied an opportunity to tell Renault’s board the full story about why it fired Carlos Ghosn in late November. Nissan (NSANY) CEO Hiroto Saikawa told reporters that the Japanese carmaker wants to show the board of its…MORE

Colin Kroll, co-founder of HQ Trivia and Vine, found dead

Colin Kroll, co-founder of HQ Trivia and Vine, found dead

Colin Kroll, co-founder and CEO of the hit gaming app HQ Trivia, was found dead Sunday morning in New York. He was 34 years old. “We learned today of the passing of our friend and founder, Colin Kroll, and it’s with deep sadness that we say goodbye,” a spokesperson for HQ said in an emailed…MORE