KSFO Business News

Saudi Aramco delays IPO to give clarity on impact of attacks

Saudi Aramco’s long-awaited IPO has been delayed–again. The timing for the blockbuster listing was pushed back to allow the state-run Saudi oil company to publish quarterly results that will provide clarity on the impact of last month’s attacks on its oil facilities, a source familiar with the IPO process told CNN Business on Thursday. Investors…MORE

Democrats need to sharpen their attacks on the Trump economy

If Democrats want to win in 2020, they have to sharpen their attacks on the Donald J. Trump economy. Moody’s Analytics 2020 Presidential Election Model weighs the current economy, politics and voter turnout and projects a second Trump term. “If the economy a year from now is the same as it is today, or roughly…MORE

Stephen Colbert signs new ‘Late Show’ deal through 2023

Stephen Colbert has signed a new contract that keeps him as host of CBS’ “The Late Show” through 2023, the network announced Thursday. “I’ve been asked by CBS to host ‘The Late Show’ until 2023, and I have every intention of honoring their subpoena,” Colbert said in a statement. Financial terms of the deal were…MORE

Canada’s Cannabis 2.0: Edibles, beverages, vapes on deck

It’s time for Cannabis 2.0 in Canada. Canada’s foray into legal cannabis last year was intentionally slow, methodical and tempered. The forms of recreational cannabis were limited to dry flower (or bud), tinctures and capsules. Canada is marking its one-year anniversary of legal weed by way of a product upgrade. Health Canada, the governing body…MORE

Domino’s pulls the plug on 4 European markets

Domino’s has run into trouble in Europe. The company that operates the pizza chain’s UK franchise has abandoned an expansion into Switzerland, Norway, Sweden and Iceland after its stores there failed to make a profit. Domino’s Pizza Group said Thursday that it would try to find a buyer for the 100-odd stores, and turn its…MORE

Deal to end GM strike won’t save Lordstown plant

The deal to end the month-long strike at General Motors will not save an assembly plant in Lordstown, Ohio, and two other transmission plants, according to the United Auto Workers union. In November, GM announced plans to close Lordstown as well as transmission plants in Warren, Michigan, and Baltimore, Maryland and Hamtramck, in Detroit. Under…MORE

New Brexit deal is still bad for business and the UK economy

British Prime Minister Boris Johnson says he has secured a “great new deal” on Brexit. But the agreement he’s struck with the European Union would erect significant trade barriers for companies operating in the United Kingdom, reduce growth and leave the country poorer. The deal must still be approved by the UK parliament, which will…MORE

How Elizabeth Warren could ‘vaporize’ America’s oil boom

Elizabeth Warren doesn’t just pose a threat to Wall Street. Her rising 2020 polling numbers are also striking fear in the heart of Big Oil. Warren, currently the odds-on favorite to be the Democratic presidential nominee, wants to ban fracking “everywhere.” And the Massachusetts senator pledged to immediately sign an executive order to stop all…MORE

Why investors can’t get too excited about the new Brexit deal

The British pound and UK stocks shot up on news that UK Prime Minister Boris Johnson had clinched a new Brexit agreement with the European Union. Then the political reality set in. Johnson still needs to get his deal through a special session of the UK Parliament scheduled for Saturday. Opposition parties and a group…MORE

Christian Dior apologizes to China for not including Taiwan in a map

Add Christian Dior to the growing list of Western brands tangling with China. The French fashion house issued an apology Thursday over a map of China used during a presentation that didn’t include Taiwan. The small island is a self-ruled democracy that Beijing insists be treated as part of its “one China” initiative. The message…MORE