Category Archives: CNN – Business

Everyone thought the Fed would cut rates. The market is no longer so sure

Everyone thought the Fed would cut rates. The market is no longer so sure

Just about everyone predicted the Federal Reserve would cut interest rates on Wednesday. But the market no longer thinks so. According to the CME’s FedWatch Tool, which measures what the markets are predicting the Fed will do next, the probability of a quarter percentage point rate cut is only 47%, down from 92% just a…MORE

The GM strike was inevitable. How it will end isn’t so clear

The GM strike was inevitable. How it will end isn’t so clear

In November 2016, barely a year after General Motors signed its last four-year deal with the United Auto Workers union, the problems that would lead to this week’s strike became apparent. Auto sales were slowing. Although the industry posted its seventh straight year of improved US sales in 2016, an industry record, the increase was…MORE

New York Times reporters grilled about botched Kavanaugh story

New York Times reporters grilled about botched Kavanaugh story

The two reporters at the center of the botched New York Times story about a new sexual misconduct allegation against Supreme Court Justice Brett Kavanaugh were pressed on Tuesday about the paper’s handling of the facts. Co-reporters Robin Pogrebin and Kate Kelly told CNN’s Alisyn Camerota on “New Day” that it was an “oversight” by…MORE

Cokie Roberts, broadcast journalism legend, dies at 75

Cokie Roberts, broadcast journalism legend, dies at 75

Veteran journalist Cokie Roberts, winner of three Emmys and a legend and trailblazer in broadcasting, has died at the age of 75, ABC News announced. Roberts worked in television, public radio and publishing for over 40 years. She began her tenure at ABC as a contributor for “This Week with David Brinkley” and later became…MORE

AT&T chief executive defends the company’s costly media acquisition strategy

AT&T chief executive defends the company’s costly media acquisition strategy

AT&T CEO Randall Stephenson on Tuesday deflected criticism that the company is too big and paid too much for its media businesses. Stephenson, speaking at the Goldman Sachs Communacopia conference for media and telecom companies in New York, said it still “makes sense” for the company to own both a big wireless network and content.…MORE

NBCUniversal unveils Peacock, its upcoming streaming service

NBCUniversal unveils Peacock, its upcoming streaming service

NBCUniversal announced Tuesday that its new streaming service will be called Peacock — and that it will come with a colorful library of content. The service, which is set to roll out in April of 2020, will launch with over 15,000 hours of content from NBCUniversal’s shows and films, the company announced on Tuesday. Peacock…MORE

Stephen Schwarzman writes in new book about his role as Trump interlocutor with China

Stephen Schwarzman writes in new book about his role as Trump interlocutor with China

Billionaire dealmaker Stephen Schwarzman, the head of Blackstone Group, thought after the 2016 election that he could help Donald Trump navigate some of the most complex negotiations in history. Foreign government officials desperate to understand America’s new commander in chief flocked to Schwarzman, whose private equity firm has done deals worth billions of dollars globally,…MORE