China’s Didi makes NYSE debut
Ride-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.
Continue ReadingRide-hailer Didi raised $4.4 billion in the IPO, giving it a valuation of more than $67 billion. CNN’s Clare Sebastian reports.
Continue ReadingBy Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
Continue ReadingBy Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
Continue ReadingBy Moira Ritter, CNN Business Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. The suspension comes just two days after China’s largest ride-hailing service, which forced Uber out of mainland China five years ago, went public on the NYSE in the biggest US share offering by
Continue ReadingBy Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
Continue ReadingBy Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
Continue ReadingBy Chris Isidore, CNN Business Tesla managed to sell more than 200,000 vehicles last quarter, even as the company faced rising prices, a PR disaster in China and a shortage of computer chips. The company also managed to build more than 200,000 cars over the past three months despite those enormous headwinds. The increase in
Continue ReadingBy Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
Continue ReadingBy Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
Continue ReadingBy Nathaniel Meyersohn, CNN Business If you feel like you’ve seen fewer blowout clothing sales at stores and online, you’re right. And you’re likely to see a near-absence of promotions even through the holidays later this year. Consumer demand for new wardrobes is soaring thanks to stimulus checks and pent-up demand built during the pandemic.
Continue ReadingAmerica’s labor market is still far from being back to normal – down 6.8 million jobs compared with February 2020. CNN’s Christine Romans reports.
Continue ReadingBy Julia Horowitz, CNN Business There’s never been a better time for companies to raise funding from hot markets or make moves to scoop up their competitors. That’s been a huge boon to investment bankers, who are gearing up for another summer of juggling dealmaking with vacations. What’s happening: The US market for initial public
Continue ReadingBy Julia Horowitz, CNN Business When the latest US jobs report goes live on Friday, investors and economists will be closely watching the number of jobs added in June. What’s happening: Employers are expected to have created 700,000 positions, pushing the unemployment rate down to 5.7%. That would be a strong reading, even though the
Continue ReadingBy Julia Horowitz, CNN Business When the latest US jobs report goes live on Friday, investors and economists will be closely watching the number of jobs added in June. What’s happening: Employers are expected to have created 700,000 positions, pushing the unemployment rate down to 5.7%. That would be a strong reading, even though the
Continue ReadingBy Clare Duffy, CNN Business The scourge of obnoxious robocalls has resumed after a brief dip during the early months of the pandemic. But a new prevention program developed by the Federal Communications Commission — which officially went into effect this week — could begin to offer some relief later this year. The program, called
Continue ReadingBy Clare Duffy, CNN Business The scourge of obnoxious robocalls has resumed after a brief dip during the early months of the pandemic. But a new prevention program developed by the Federal Communications Commission — which officially went into effect this week — could begin to offer some relief later this year. The program, called
Continue ReadingBritish billionaire Richard Branson plans to beat fellow billionaire and rival Jeff Bezos to space. Branson’s company, Virgin Galactic, made a surprise announcement that he will attempt to fly in Virgin’s rocket-powered plane on July 11 — nine days before Bezos’s planned July 20th launch.
Continue ReadingBritish billionaire Richard Branson plans to beat fellow billionaire and rival Jeff Bezos to space. Branson’s company, Virgin Galactic, made a surprise announcement that he will attempt to fly in Virgin’s rocket-powered plane on July 11 — nine days before Bezos’s planned July 20th launch.
Continue ReadingBy Jackie Wattles and Rachel Crane, CNN Business British billionaire Richard Branson plans to beat fellow billionaire and rival Jeff Bezos to space. Branson’s company, Virgin Galactic, made a surprise announcement Thursday that he will attempt to fly in Virgin’s rocket-powered plane on July 11 — nine days before Bezos’s planned July 20th launch. The
Continue ReadingThe OECD’s tax reform overhaul includes a global minimum tax of at least 15% on multinational companies. CNN’s Christine Romans reports.
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