Stocks and bonds have been turning in volatile, bearish performances this year in an economy marked by high inflation and rising interest rates. But that hasn’t deterred most retirement savers, especially the youngest ones. 401(k) participants have held relatively steady in their savings contribution rates and in their portfolio allocations, according to new third quarter […]
Editor’s Note: This is an updated version of an article that first published on June 13, 2022. The “crypto winter” that hit earlier this year walloped digital asset prices and served as a healthy reminder that cryptocurrencies are highly risky, volatile investments. But now, in the wake of crypto exchange FTX’s implosion, crypto investors were […]
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 — Phillips 66 is cutting at least 1,100 jobs by the end of this year as the refining giant seeks to slash costs and steer a larger chunk of its soaring profits to shareholders. At its investor day meeting in New York Wednesday, Phillips 66 detailed plans to slim down in a […]
New Delhi CNN Business — One of Apple’s largest suppliers is trying to strike a delicate balance in China. Foxconn (HNHPF) has to comply with some of the harshest Covid rules in the world while ensuring that Apple’s (AAPL) shipments are not severely disrupted just before the key holiday season begins. The Taiwanese company, which […]
Hong Kong/London CNN Business — German Chancellor Olaf Scholz will arrive in China on Friday with a team of top executives and a clear message: business with the world’s second largest economy must continue. In a whirlwind one-day visit, Scholz is expected to meet with Chinese leader Xi Jinping and Premier Li Keqiang in Beijing. […]
New York CNN Business — They came from very different backgrounds and different parts of the country, each with different reasons for seeking a job at Starbucks. Few of these workers had given any thought to unions when they started their jobs at the coffee chain. But now they are at the center of one […]
Hong Kong CNN Business — Hong Kong leader John Lee sought to drum up confidence in the city’s future as a global financial hub on Wednesday, as he welcomed some of Wall Street’s top executives to its biggest international event in years. Speaking at an investment summit that has attracted more than 200 participants from […]
When it comes to getting promoted into management, men still have the advantage. And women who do ascend to leadership roles are more likely than their male counterparts to have their authority undermined and have some of their efforts go unrecognized. They are now, in the wake of the pandemic, also more likely than ever […]