Category Archives: CNN – Business News

China and women’s clothes: How Levi’s strategy won over Wall Street

China and women’s clothes: How Levi’s strategy won over Wall Street

Levi Strauss racked up $5.6 billion in sales last year. But chief executive Chip Bergh has a mission to make Levi’s a $10 billion brand one day. To hit that ambitious target and match up against bigger rivals, Levi’s needs a new playbook. Levi’s hopes tapping the public market will fund its efforts to expand…MORE

America imported no oil from Venezuela last week. Here’s why that’s a big deal

America imported no oil from Venezuela last week. Here’s why that’s a big deal

America’s once-robust imports of crude oil from Venezuela have ground to a halt because of Trump administration sanctions and chaos gripping the OPEC nation. The United States imported exactly zero barrels of crude from Venezuela last week, according to government statistics. That’s never happened since the US Energy Information Administration began tracking this weekly metric…MORE

Brexit is costing the UK economy $1 billion a week. And it could get worse

Brexit is costing the UK economy $1 billion a week. And it could get worse

Brexit has been delayed, and may eventually be called off. But it’s already done major damage to the UK economy. The vote to leave the European Union in June 2016 caused the pound to weaken dramatically and ushered in years of uncertainty that has reduced economic activity and triggered a slump in investment. The economy…MORE

Levi’s is going public with a $6.6 billion valuation

Levi’s is going public with a $6.6 billion valuation

Levi Strauss shares are in demand as the blue jeans maker returns to the stock market after a 34-year absence. The clothing retailer priced its initial public offering on Wednesday at $17 per share, valuing the company at about $6.6 billion. That’s higher than the price range of $14 to $16 that the company had…MORE

Justice Department issues subpoenas in criminal investigation of Boeing

Justice Department issues subpoenas in criminal investigation of Boeing

US Justice Department prosecutors have issued multiple subpoenas as part of an investigation into Boeing’s Federal Aviation Administration certification and marketing of 737 Max planes, sources briefed on the matter told CNN. The criminal investigation, which is in its early stages, began after the October 2018 crash of a 737 Max aircraft operated by Lion…MORE

Starbucks is modernizing its stores

Starbucks is modernizing its stores

For years, Starbucks has invested in making sure its stores are seen as a third place for people to spend time, following home and work. It still wants to be a third place. But it’s time for an update. The company said on Wednesday that it will modernize its stores to focus on “convenience, comfort…MORE

AT&T chief: China isn’t beating the United States on 5G — yet

AT&T chief: China isn’t beating the United States on 5G — yet

There’s a lot of concern from the Trump administration and policymakers about America’s ability to compete with China on building the next generation of wireless networks, but AT&T chief Randall Stephenson said Wednesday that China isn’t beating the United States on 5G — yet. While AT&T, which owns CNN’s parent company WarnerMedia, has 5G up…MORE

Starbucks to test recyclable, compostable cups

Starbucks to test recyclable, compostable cups

After years of looking for greener alternatives to its paper cup — which is lined with plastic — Starbucks is testing out something new. The company announced on Wednesday that it is testing out a compostable cup in five locations — New York, San Francisco, Seattle, Vancouver and London. Starbucks showed one of the cups…MORE

Fed signals no rate cuts are coming in 2019

Fed signals no rate cuts are coming in 2019

The Federal Reserve on Wednesday voted to hold interest rates steady and shaved its growth forecast. Fed officials, who gathered in Washington for their two-day policy setting meeting, unanimously recommitted to remain “patient,” agreeing to indefinitely stick with an extended pause on rate changes. They signaled that the Fed wouldn’t hike rates in 2019. The…MORE

Ford announces plans to build electric vehicles in Michigan

Ford announces plans to build electric vehicles in Michigan

Ford plans to start building electric and self-driving cars at plants in Michigan. The company announced a $900 million investment there Wednesday, and plans to add 900 jobs in the state. Last year, Ford pledged $11 billion to transform its business and produce more electric and self-driving cars. The Michigan plans are part of that…MORE

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