Category Archives: CNN – Business

The man who tried to unite India’s fragmented economy has died

The man who tried to unite India’s fragmented economy has died

The man who implemented India’s biggest economic reforms of the 21st century has died. Arun Jaitley, who served as India’s finance minister for five years until May 2019, passed away on Saturday in New Delhi. He was 66. Jaitley took charge as India’s top economic official in 2014, following Prime Minister Narendra Modi’s victory in…MORE

What China’s new tariffs mean for you

What China’s new tariffs mean for you

It’s hard to keep up with the tit-for-tat trade war between the United States and China. While trade negotiations are ongoing, Chinese President Xi Jinping and President Donald Trump have been imposing waves of new tariffs for more than a year now. No one is winning. Businesses, and therefore consumers, in both countries are feeling…MORE

Koch Industries is the most important company you may not know

Koch Industries is the most important company you may not know

Koch Industries is unlike any other company. There is no other business so closely held by one family that is also so big and so diversified. David Koch, 79, who died Friday, and his brother Charles, 83, have owned the company since their father passed away in 1967. Koch Industries started under the name Wood…MORE

Cathay Pacific’s crisis just got even uglier

Cathay Pacific’s crisis just got even uglier

Hong Kong’s top airline can’t escape the city’s political crisis. The Hong Kong Confederation of Trade Unions, a major local labor organization, called on Cathay Pacific on Friday to “respect the freedom of speech of employees.” The remarks followed the firing of one of its affiliate union’s leaders, a flight attendant for the airline’s regional…MORE

China and the US ratchet up trade war in a day of retaliation

China and the US ratchet up trade war in a day of retaliation

The US-China trade war ratcheted up yet again on Friday, with Beijing unveiling a new round of retaliatory tariffs on about $75 billion worth of US goods. China will place additional tariffs of 5% or 10% on US imports starting on September 1st, according to a statement posted by China’s Finance Ministry. The Ministry also…MORE

Stocks close sharply lower after Trump-fueled selloff

Stocks close sharply lower after Trump-fueled selloff

Stocks finished a volatile trading day sharply in the red Friday, after a selloff driven by President Donald Trump’s response to new retaliatory tariffs from China and Fed policy. The Dow dropped more than 700 points at its worst, closing down 2.4%, or 623 points. The S&P 500 and the Nasdaq Composite finished 2.6% and…MORE

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