Category Archives: CNN – Business

US accuses pair of stealing GE secrets and passing them to China

The US government has alleged that a GE engineer and Chinese businessman stole tech secrets with the intention of passing them onto Beijing. The Justice Department in a release Tuesday night said it had charged former GE employee Zheng Xiaoqing and Chinese businessman Zhang Zhaoxi with economic espionage. The department said the pair had conspired…MORE

China could help push ‘Avengers: Endgame’ to a billion dollar weekend

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. We’re in the Endgame” now Frank Pallotta emails: I’ve been reporting on the box office for five years — and nothing compares to what I’m hearing about “Avengers: Endgame” this weekend. The Marvel film —…MORE

Walmart CEO Doug McMillon’s total pay was nearly $24 million last year

Walmart CEO Doug McMillon’s total compensation reached nearly $24 million during the last year as the company continued to hold its ground against Amazon and other rival retailers. McMillon’s salary was about $1.3 million and he was eligible for stock awards based on performance and values at $15.6 million. He is also eligible for about…MORE

US stocks hit new record highs

US stocks climbed past their all-time highs on Tuesday, as stocks continued to rally from their December lows. The S&P 500 reached 2933.68 points, breaking through the historical closing high of 2,930.75 points that it set in September. The Nasdaq nearly hit 8121 points, beating the 8,110 point all-time best close it hit in August.…MORE

Stocks are at an all-time high. Here’s what stopped the last 12 bull runs

US stocks are back at all-time highs as the longest bull market in American history continues its record-setting run. How much longer can the good times roll? It’s anyone’s guess, but bull markets and economic expansions don’t die of old age. Credit crunches, political uncertainty, wars and rampant speculation have ended previous bull markets. Overall,…MORE

Staffers resign from news startup The Markup after ouster of editor-in-chief

The Markup, a forthcoming non-profit news website, started to crumble in plain view on Tuesday, as multiple staffers announced their resignations following the ouster of the organization’s editor-in-chief. Julia Angwin, the Pulitzer Prize winning journalist who co-founded The Markup and served as its editor-in-chief, tweeted on Tuesday morning that she had been “forced out” of…MORE

Henry Bloch, co-founder of H&R Block, dies at 96

Henry Bloch, who helped build tax preparation company H&R Block into a leading force in business innovation in 20th century America, died Tuesday. He was 96. Bloch was a philanthropist and a decorated World War II veteran. H&R Block announced his death in a news release. The company did not disclose the cause, but said…MORE

What Facebook scandals? Its earnings are expected to dominate

Facebook has been widely criticized for its scandals and bad behavior. But the company keeps raking in money. As long as Facebook’s 2.3 billion users keep logging onto the platform, it’ll keep bringing in ad revenue, according to Ben Schachter, senior internet analyst at Macquarie Groups. All the negative headlines — about the social media…MORE

PepsiCo’s latest green product is a high-tech water cooler

PepsiCo is launching a high-tech water cooler for customers who want healthier drinks that are also better for the environment. The new water dispenser lets people fill up their own bottles with flavored or unflavored, still or carbonated water in varying temperatures. Users can also download a companion mobile app that tracks their water intake,…MORE