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Monday, October 26, 2020
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AP Top News - Business - Stories

Asian shares slip after Wall St’s worst day in a month

Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in...

Utility says its equipment may have sparked California blaze

LOS ANGELES (AP) — Southern California Edison said its equipment may have sparked a fast-moving wildfire that forced evacuation orders for some 100,000 people...

Fed up: California restaurants seek booze, health fee refund

LOS ANGELES (AP) — California's financially battered restaurants filed government claims Monday to recover more than $100 million in fees for liquor and health...

Dunkin’ shares hit all-time high after holding buyout talks

The Dunkin’ doughnuts and coffee chain has confirmed it's held talks to be taken private by a private equity firm, sending its shares rocketing...

Muslims call for French goods boycott to protest caricatures

DUBAI, United Arab Emirates (AP) — Muslims in the Middle East and beyond on Monday broadened their calls for boycotts of French products and...

Fox News anchors quarantine after virus exposure on flight

NEW YORK (AP) — Several Fox News Channel on-air personalities were exposed last week to someone on a private plane who later tested positive...

Turkish lira drops to record low over US sanction threat

ANKARA, Turkey (AP) — The Turkish currency slid further Monday to an all-time low against the U.S. dollar after President Recep Tayyip Erdogan challenged...

Feeding Houston’s hungry: 1M pounds of food daily for needy

HOUSTON (AP) — In car lines that can stretch half a mile, (0.8 kilometers), workers who lost jobs because of the coronavirus pandemic and...

Sept. new home sales fall 3.5%, after strong summer season

CHARLOTTE, N.C. (AP) — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce...

Chinese fintech could shatter records with $35B share offer

HONG KONG (AP) — The world’s largest fintech company, China's Ant Group, will try to raise nearly $35 billion in a massive public offering...

7 held for suspected tanker hijack after UK commando raid

LONDON (AP) — Seven stowaways seized when British naval special forces stormed an oil tanker in the English Channel have been arrested on suspicion...

Post-Abe agenda: Suga says Japan to go carbon-free by 2050

TOKYO (AP) — Japan will achieve zero carbon emissions by 2050, Prime Minister Yoshihide Suga declared Monday, outlining an ambitious agenda as the country...

`The books that help her through’: Winfrey suggests seven

NEW YORK (AP) — With Election Day approaching and the pandemic ongoing, Oprah Winfrey is setting aside her usual book club recommendations and instead...

Spokesman: China to sanction US arms suppliers to Taiwan

BEIJING (AP) — China's government said Monday it will impose sanctions on U.S. military contractors including Boeing Co.'s defense unit and Lockheed Martin Corp....

German business confidence slips after 5 months of rises

BERLIN (AP) — German business confidence has declined for the first time after five straight monthly increases as coronavirus infections rebound across Europe, a...

Germany’s Bayer to buy US gene therapy specialist AskBio

BERLIN (AP) — German health care company Bayer said Monday it is buying Asklepios BioPharmaceutical, a U.S.-based firm specializing in gene therapy, in a...

Chinese leaders focus on tech as they make 5-year plan

BEIJING (AP) — Chinese leaders met Monday to formulate an economic blueprint for the next five years that is expected to emphasize development of...

Asian shares little changed on uncertainty over US election

TOKYO (AP) — Asian shares were little changed in muted trading Monday amid widespread uncertainty over what the U.S. presidential election will portend for...

Lee Kun-Hee, force behind Samsung’s rise, dies at 78

SEOUL, South Korea (AP) — Lee Kun-Hee, the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer...

Italy closes gyms, shuts eateries early to fight COVID-19

ROME (AP) — Italy's leader imposed at least a month of new restrictions across the country Sunday to fight rising coronavirus infections, shutting down...

Virus is pummeling Europe’s eateries — and winter is coming

HEIKRUIS, Belgium (AP) — As the Friday night dinner service began earlier this month at the De Viering restaurant outside Brussels, it seemed the...

UK doctors demand free meals for kids as COVID fuels hunger

LONDON (AP) — Pediatricians are urging the British government to reverse course and provide free meals for poor children during school holidays as the...

Spain orders nationwide curfew to stem worsening outbreak

BARCELONA, Spain (AP) — Buckling under the resurgence of the coronavirus in Europe, the Spanish government on Sunday declared a national state of emergency...

US legislators complain to Trump on Mexico energy policy

MEXICO CITY (AP) — Standing in front of a reopened coal-fired power plant, Mexican President Andrés Manuel López Obrador on Saturday defiantly rejected complaints...

Biden’s warning on oil tests voter resolve on climate change

OKLAHOMA CITY (AP) — Joe Biden is confronting the harsh political realities of combating climate change. ...

AstraZeneca, J&J resuming US tests of COVID-19 vaccines

Two drugmakers announced Friday the resumption of U.S. testing of their COVID-19 vaccine candidates. ...

US stocks shake off a wobbly start and end mostly higher

U.S. stock indexes closed mostly higher Friday, though the S&P 500 posted its first weekly loss in four weeks. ...

Walmart sues US in pre-emptive strike in opioid abuse battle

NEW YORK (AP) — Walmart is suing the U.S. government in a pre-emptive strike in the battle over its responsibility in the opioid abuse...

Biden calls for ‘transition’ from oil, GOP sees opening

Democrat Joe Biden's remark that he would “transition” away from oil in the U.S. in favor of renewable energy drew quick attention Thursday night...

Huawei sales up, but growth slows under virus, US pressure

BEIJING (AP) — Chinese tech giant Huawei, one of the biggest makers of smartphones and switching equipment, said Friday its revenue rose 9.9% in...

Keeping your credit profile healthy during a pandemic

Credit may not be top of mind for many consumers these days. But as the pandemic and its associated economic woes drag on, they...

AmEx profits plunge as travel spending comes to a standstill

CHARLOTTE, N.C. (AP) — American Express' fourth-quarter profits dropped by 39%, the credit card giant said Friday, as the pandemic's deep impacts on travel,...

Spain PM appeals for public unity, sacrifice in virus fight

MADRID (AP) — Prime Minster Pedro Sánchez appealed Friday for Spaniards to pull together and defeat the new coronavirus, warning: “The situation is serious.” ...

Veggie burgers are still burgers, at least in Europe

BRUSSELS (AP) — It’s a meaty issue but the EU has taken a stance: veggie burgers are in fact burgers. ...

NATO chief says Greece, Turkey agree to cancel war games

BRUSSELS (AP) — NATO Secretary-General Jens Stoltenberg said Friday that Greece and Turkey are going to cancel war games scheduled for next week on...

Trial of Russian in alleged bitcoin fraud to wrap in Paris

PARIS (AP) — French prosecutors requested on Friday a 10-year jail term and a fine of 750,000 euros ($888,634) against Alexander Vinnik, who is...

Hitler speeches sell at Munich auction despite objections

BERLIN (AP) — Handwritten speech notes by Nazi dictator Adolf Hitler sold at auction in Munich on Friday despite concerns from Jewish groups they...

Japan, Britain sign free trade deal for post-Brexit era

TOKYO (AP) — Japan and Britain signed a bilateral free trade deal Friday in the the first such major post-Brexit deal, reducing tariffs on...

Automaker Daimler rebounds after lockdowns, raises outlook

FRANKFURT, Germany (AP) — Daimler, the maker of Mercedes-Benz luxury cars and Freightliner trucks, saw third-quarter profit rebound as the company clamped down on...

AP Explains: Why are UK and EU still arguing over Brexit?

LONDON (AP) — It’s more than four years since Britain voted to leave the European Union, and almost a year since Prime Minister Boris...

Asian shares, US futures gain after last Trump-Biden debate

Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their...

China hopes for change if Biden wins, but little likely

BEIJING (AP) — Chinese leaders hope Washington will tone down conflicts over trade, technology and security if Joe Biden wins the Nov. 3 presidential...

California court says Uber, Lyft drivers are employees

SAN FRANCISCO (AP) — A California appeals court on Thursday upheld an order requiring Uber and Lyft to treat their California drivers as employees...

Tesla ‘full self-driving’ vehicles can’t drive themselves

DETROIT (AP) — Earlier this week, Tesla sent out its “full self-driving” software to a small group of owners who will test it on...

Facebook, Twitter CEOs ordered to testify by GOP senators

WASHINGTON (AP) — The GOP push against Facebook and Twitter accelerated Thursday after Republican senators threatened the CEOs of the social media companies with...

Goldman Sachs subsidiary pleads to US charges in 1MDB probe

WASHINGTON (AP) — A subsidiary of Goldman Sachs pleaded guilty on Thursday and agreed to pay more than $2.9 billion in a foreign corruption...

FDA approves first COVID-19 drug: antiviral remdesivir

U.S. regulators on Thursday approved the first drug to treat COVID-19: remdesivir, an antiviral medicine given to hospitalized patients through an IV. ...

Gap Inc. exiting malls, to shutter 350 stores by 2024

NEW YORK (AP) — Gap Inc. is moving away from the nation’s malls. ...

US airlines still piling up losses but say demand is rising

DALLAS (AP) — Airlines are piling up billions of dollars in additional losses as the pandemic chokes off air travel, but a recent uptick...

US long-term mortgage rates hit new low; 30-year at 2.80%

WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week as the key 30-year loan marked a new all-time low for the 11th time...

Profit, revenue slump at Union Pacific, but volume improves

OMAHA, Neb. (AP) — Union Pacific's profit and revenue slumped by double digits, though the volume of shipments it handled rebounded from the previous...

US jobless claims drop to 787,000, but layoffs remain high

WASHINGTON (AP) — The number of laid-off Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased...

Santa Claus won’t be coming to Macy’s this year

NEW YORK (AP) — Macy's said Santa Claus won't be greeting kids at its flagship New York store this year due to the coronavirus,...

EU slaps sanctions on 2 Russians over Germany cyberattack

BRUSSELS (AP) — The European Union on Thursday imposed sanctions on two Russian officials and part of Russia’s GRU military intelligence agency over a...

US NATO allies still short on defense spending aims

BRUSSELS (AP) — U.S. allies in Europe and Canada have increased defense spending for a sixth consecutive year but most of them will still...

New Huawei phone comes at crucial time for Chinese company

LONDON (AP) — Huawei’s new smartphone has an upgraded camera, its latest advanced chipset and a better battery. What it may not have outside...

September existing home sales climb 9.4%, highest since ’06

CHARLOTTE, N.C. (AP) — Sales of existing homes climbed 9.4% in September, the National Association of Realtors said Thursday, the latest sign that the...

Bank robber flees with $500,000 in ex-Soviet Georgia

TBILISI, Georgia (AP) — Police in the ex-Soviet republic of Georgia were looking Thursday for a bank robber who held over 40 people hostage...

Study: TV industry falls short of off-camera inclusivity

LOS ANGELES (AP) — When Zendaya won last month’s Emmy Award for top drama series actress, her triumph seemed to underscore the TV industry’s...

Analysis: Racial inequity in who takes career, tech courses

Alphina Kamara wonders what might have happened if she’d been introduced to science and engineering careers at her high school in Wilmington, Delaware. ...

Coca-Cola recovery continues as it grows leaner in pandemic

Coca-Cola measured gradual improvement in the third quarter as it focused on emerging leaner from the global pandemic. ...

British Airways parent company slashes passenger forecast

LONDON (AP) — The parent company of British Airways has cut its fourth-quarter passenger forecast to just 30% of last year’s level as government...

Banksy artwork sells for almost $10 million at auction

LONDON (AP) — Banksy’s playful take on a famous Impressionist painting has sold at auction for 7.6 million pounds ($9.8 million), the second-highest price...

California theme park closures hit jobs, shops, budget

California's amusement parks have been pining to reopen for months, hoping to bring back thousands of workers sent home in March when the coronavirus...

Asian stocks follow Wall Street lower on lack of US aid plan

BEIJING (AP) — Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on...

Fed survey finds tepid growth as US economy battles pandemic

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest”...

Tesla posts net profit for fifth straight quarter

DETROIT (AP) — Tesla charged through a summertime auto industry sales slump in the U.S. to post stronger-than-expected net earnings for the third quarter. ...

CSX profit falls 14% but railroad announces $5B buyback

OMAHA, Neb. (AP) — CSX's third-quarter profit fell 14% but the railroad said it handled nearly as many shipments as last year, as volume...

Short-video app Quibi shutting down just months after launch

Short-video app Quibi said it is shutting down just six months after its early April launch, having struggled to find customers. ...

Honda, Arizona reach $5 million settlement over air bags

PHOENIX (AP) — Honda has agreed to a $5 million settlement with Arizona over allegations that it failed to disclose defects in air bags...

Next up in hunt for COVID-19 vaccine: Testing shots in kids

The global hunt for a COVID-19 vaccine for kids is only just beginning — a lagging start that has some U.S. pediatricians worried they...

Meet Amit Mehta, the judge for Google’s antitrust case

The Justice Department’s antitrust lawsuit against Google has a judge: Obama appointee Amit Mehta, who was assigned the case Wednesday morning in U.S....

OxyContin maker Purdue Pharma to plead to 3 criminal charges

WASHINGTON (AP) — Drugmaker Purdue Pharma, the company behind the powerful prescription painkiller OxyContin that experts say helped touch off an opioid epidemic, will...

Nonprofit app aims to help unblock global air travel

FRANKFURT, Germany (AP) — A nonprofit foundation is testing a smartphone app that could make it easier for international airline passengers to securely show...

Justice Dept. files landmark antitrust case against Google

WASHINGTON (AP) — The Justice Department on Tuesday sued Google for abusing its dominance in online search and advertising — the government’s most significant...

An electric Hummer? Battery-powered trucks head to showrooms

DETROIT (AP) — Seven auto companies have plans to roll out new battery-powered pickup trucks over the next two years, aiming to cash in...

Judge slams DeVos for rejecting 94% of loan relief claims

Months after vowing to process a backlog of 160,000 requests for loan forgiveness from students who say they were defrauded by their schools, the...

Suit: Feds ignore risk of huge spills to endangered species

NEW ORLEANS (AP) — Environmental groups asked a federal court Wednesday to throw out the Trump administration's assessment of oil and gas activity’s likely...

UK-EU trade talks back on after bloc offers olive branch

BRUSSELS (AP) — Britain and the European Union will resume their stalled trade negotiations at an “intensified” pace, the British government said Wednesday, in...

From Detroit to Oakland, pandemic threatens urban renewal

DETROIT (AP) — Downtown Detroit was returning to its roots as a vibrant city center, motoring away from its past as the model of...

After years grappling with Google, Europe has tips for US

LONDON (AP) — The U.S. antitrust crackdown on Google might seem like deja vu for European Union regulators. ...

JC Penney sees bankruptcy protection exit by Christmas

NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens...

Another chunk of England faces tight virus restrictions

LONDON (AP) — The British government on Wednesday put another 1.4 million people into England’s tightest coronavirus restrictions, but faced growing criticism that its...

Spain’s parliament debates no-confidence vote to oust govt

MADRID (AP) — Spanish Prime Minister Pedro Sánchez is facing a no-confidence debate in parliament brought by the nation’s far-right Vox party, but it...

Ericsson earnings boosted by 5G network rollouts

STOCKHOLM (AP) — Swedish telecom equipment maker Ericsson has reported upbeat third quarter earnings, helped mainly by the rollout of 5G wireless networks in...

ILO says garment industry should do more to help workers

MITO, Japan (AP) — The coronavirus pandemic has slammed the apparel industry, leaving many of the 65 million Asian garment factory workers struggling as...

China’s BYD, Japan’s Hino announce electric truck venture

BEIJING (AP) — Chinese electric car brand BYD Auto and Japanese truck maker Hino Motors said Wednesday they are jointly setting up a company...

U.S. antitrust case against Google mirrors Microsoft battle

WASHINGTON (AP) — The Trump administration's legal assault on Google actually feels like a blast from the past. ...

Cathay Pacific cuts 8,500 jobs, shutters regional airline

HONG KONG (AP) — Hong Kong airline Cathay Pacific Airways said Wednesday it would cut 8,500 jobs and shut a regional airline as it...

Australian watchdog considers its own Google antitrust case

CANBERRA, Australia (AP) — Australia’s competition watchdog will consider its own antitrust case against Google, the commission chairman said Wednesday after the U.S. Justice...

Asian shares rise after Wall Street gains on solid earnings

TOKYO (AP) — Asian shares mostly rose Wednesday, cheered by the gains on Wall Street as investors welcomed a batch of solid earnings reports...

5 takeaways from the government’s lawsuit against Google

WASHINGTON (AP) — The Justice Department's lawsuit against Google alleging antitrust violations marks the government’s most significant attempt to protect competition since its groundbreaking...

5 takeaways from the government’s lawsuit against Google

WASHINGTON (AP) — The Justice Department's lawsuit against Google alleging antitrust violations marks the government’s most significant attempt to protect competition since its groundbreaking...

How Google evolved from ‘cuddly’ startup to antitrust target

SAN RAMON, Calif. (AP) — In Google's infancy, co-founders Larry Page and Sergey Brin reviled Microsoft as a technological bully that ruthlessly abused its...

Feds say US colleges ‘massively’ underreport foreign funding

A scathing report from the Trump administration on Tuesday concluded that top U.S. universities have “massively underreported” funding they accept from China, Russia and...

Intel to sell NAND business to SKorean rival for $9 billion

SEOUL, South Korea (AP) — Intel has agreed to a $9 billion deal to sell most of its memory business to South Korea’s SK...

Netflix reports a summer slump in subscriber growth

Netflix’s subscriber growth slowed dramatically during the summer months after surging in the spring fueled by pandemic lockdowns that corralled millions of people in...

Buffett’s firm to pay $4.1M fine for subsidiary’s Iran sales

OMAHA, Neb. (AP) — Warren Buffett's company has agreed to pay a $4.1 million fine because one of its subsidiaries improperly sold equipment that...

Older workers face higher unemployment amid virus pandemic

For the first time in nearly 50 years, older workers face higher unemployment than their midcareer counterparts, according to a study released Tuesday by...

DC debuts smartphone-based COVID-19 exposure alert system

WASHINGTON (AP) — The nation’s capital has become one of the first jurisdictions in the country to employ a new COVID-19 notification system, a...

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