Category Archives: CNN – Business

The era of big passenger jets is over

The era of big passenger jets is over

The double-decker A380 was loved by passengers, aviation enthusiasts and executives at Airbus. But the world’s largest commercial plane never won over the group that really mattered: airlines. Airbus pulled the plug on its superjumbo program on Thursday, announcing that it would deliver the final A380s to airlines such as Emirates by 2021. The decision…MORE

End of the superjumbo: Airbus is giving up on the A380

End of the superjumbo: Airbus is giving up on the A380

Airbus is ending the A380 program, pulling the plug on its iconic superjumbo jet that once promised to revolutionize commercial air travel but failed to deliver on outsized expectations. The European plane maker said Thursday that it will stop delivering A380s in 2021 after Dubai-based airline Emirates slashed its orders for the huge jetliner. “We…MORE

Levi’s wants to be more than a jeans company, so it’s going public

Levi’s wants to be more than a jeans company, so it’s going public

Levi Strauss plans to hit the public market for the first time in 34 years, a promising sign for a troubled retail sector. The 165-year-old company, which invented the blue jean, filed for an IPO on Wednesday. Levi’s said it could raise up to $100 million in the public offering, and will be listed on…MORE

More Americans are behind on their car loans than ever before

More Americans are behind on their car loans than ever before

Americans are falling behind on car loan payments in record numbers. More than 7 million car loans were past due by at least 90 days in the fourth quarter, according to data released this week from the New York Federal Reserve. That’s 1.3 million more past-due loans than during the previous peak in 2011, which…MORE

Carlos Ghosn won’t get his $34 million payout from Renault

Carlos Ghosn won’t get his $34 million payout from Renault

Carlos Ghosn won’t be getting a golden parachute from Renault. The French carmaker said Wednesday that it would not be paying its former CEO and chairman roughly €30 million ($34 million) he was due in deferred compensation and other benefits. Ghosn resigned from Renault last month after he was charged in Japan with financial misconduct…MORE

Tariffs prompt US Steel to restart work on Alabama mill

Tariffs prompt US Steel to restart work on Alabama mill

US Steel says it is restarting construction on an Alabama mill to take advantage of higher steel prices. The company had stopped work on a furnace at the plant in 2015 because of unfavorable market conditions. But US Steel said it resumed construction because of the Trump administration’s trade policies, as well as incentives from…MORE

Nissan cuts profit forecast in its first report since ousting Carlos Ghosn

Nissan cuts profit forecast in its first report since ousting Carlos Ghosn

Life after Carlos Ghosn is off to a rocky start for Nissan. The Japanese automaker slashed its annual profit and sales forecasts on Tuesday in its first earnings report since the arrest and ouster of Ghosn, who ran the company for nearly two decades. Nissan now expects to sell 5.6 million vehicles worldwide in the…MORE

Why flowers get so expensive on Valentine’s Day

Why flowers get so expensive on Valentine’s Day

At Kroger, a dozen roses at stores usually cost around $10. During the Valentine’s Day stretch, they go for double. Why are flowers so expensive around Valentine’s Day? The rush for flowers creates international logistics bottlenecks and elevated transportation costs for a limited supply of perishable flowers. “It’s an old economic adage. Supply and demand,”…MORE

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