New York CNN — Goldman Sachs had a rough year in 2022. And CEO David Solomon was punished for that. Sort of. The investment banking giant said in a Securities and Exchange Commission filing Friday that Solomon received $25 million in annual compensation last year. While that is still a very large amount of money, […]
New York CNN — Chevron reported a record full-year profit of $36.5 billion, buoyed by high oil prices. Adjusted earnings for the year more than doubled from the $15.6 billion Chevron earned in 2021 and up 36% from its previous record profit set in 2011. The oil company’s fourth-quarter earnings came in at $7.9 billion, […]
New York CNN — Southwest Airlines reported a loss for the fourth quarter because of the company’s service meltdown over the holiday travel season, and it warned the costs from those problems will result in another loss in the first quarter. The airline was forced to cancel more than 16,700 flights between December 21 and […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — This hasn’t been a good year for the equities market. The S&P 500 is […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — The meltdown of FTX has sent the price of bitcoin and other cryptocurrencies tumbling more than 60% this year…and the carnage has spread to publicly traded companies with […]
New York CNN Business — Oscar Mayer. Velveeta. Capri Sun. Kraft Heinz CEO Miguel Patricio admits: Some of the company’s iconic products had become “a little bit dusty.” “For a while, we were apologetic about the brands that we had,” Patricio told CNN Business. “We got distracted believing that the future was launching new small […]
Washington, DC CNN — Tesla and CEO Elon Musk will spend this week in court to defend the massive compensation package that helped make him the world’s richest man. The week-long trial in Delaware Court of Chancery will examine the 2018 compensation plan that the automaker’s board of directors created for Musk. The automaker said […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — The third-quarter corporate earnings season is wrapping up: We now have reports from […]
New York CNN Business — Between warnings of a recession, high inflation and layoff fears, the news is bleak. Why not have some chocolate? Chocolate makers are reporting booming sales as stressed out customers reach for something sweet to take the edge off. In the third quarter, sales of Hershey’s (HSY) chocolates, which include Reese’s, […]
New York CNN Business — Shares of used car marketplace Carvana continued to plummet Monday, falling over 50% over the past two trading days, following a volatile downward trend that began after the company shared third-quarter results Thursday. Shares dropped 15% Monday to close the day at $7.39 a share, continuing a downward trajectory that […]