Category Archives: CNN – Business

Tesla’s general counsel leaves the company after two months

Tesla’s general counsel leaves the company after two months

Tesla’s general counsel is leaving the company after just two months on the job — the latest in a series of executive departures at Elon Musk’s electric car company. Dane Butswinkas, who joined Tesla in December, will return to his legal practice at Williams & Connolly in Washington, the company said in a statement Wednesday.…MORE

Who knew, Tide does dry cleaning. Now it’s expanding the business

Who knew, Tide does dry cleaning. Now it’s expanding the business

Tide is not just the liquid detergent you use to wash your clothes. It’s actually been a neighborhood laundromat for years. In 2010, Tide opened its first four dry cleaning stores. Tide now has 125 stores run by franchise owners in cities like Houston and Phoenix. It has wash-and-fold services on 20 college campuses and…MORE

Swiss banking giant UBS fined more than $5 billion in fraud case

Swiss banking giant UBS fined more than $5 billion in fraud case

UBS faces a massive financial penalty in France after a court there ruled that the Swiss bank helped its wealthy clients avoid taxes. The court delivered its verdict in Paris on Wednesday, ordering the bank to pay €4.5 billion ($5.1 billion) and finding it guilty of money laundering and illegal client solicitations. The fines include…MORE

Japan Inc poured billions into Britain. Now it’s having regrets

Japan Inc poured billions into Britain. Now it’s having regrets

Japan’s top companies are losing patience with the United Kingdom as Brexit fast approaches. Honda became the latest to reduce its exposure to the British economy, announcing Tuesday that it will shutter its only manufacturing plant in the country by 2021, a move that is expected to result in the loss of at least 3,500…MORE

FAA investigating Southwest over baggage weight data

FAA investigating Southwest over baggage weight data

The US Federal Aviation Administration is investigating how Southwest Airlines tracks the weight of checked bags on its flights. The FAA began its probe in February 2018, the FAA said told CNN Business on Monday. “Since that time, the FAA has directed the development of a comprehensive solution to the methods and processes used by…MORE

Target is chasing moms and dads

Target is chasing moms and dads

Moms and dads are some of the best shoppers for retailers. Target has a plan to win them over: Focus on the kids. On Thursday, Target said it will extend its trendy kids’ clothing line, Art Class, to toddlers. Target has built a multi-billion dollar kids’ clothing brand, Cat & Jack, but it found some…MORE

Honda is closing its only British factory, wiping out 3,500 jobs

Honda is closing its only British factory, wiping out 3,500 jobs

Honda has just dealt the United Kingdom’s auto industry a huge blow. The Japanese carmaker said Tuesday that it will shut down a major manufacturing plant in the English town of Swindon that employs 3,500 people. Thousands more jobs will be put at risk at suppliers and other businesses. Honda has made more than 3…MORE