Business News

Chevron, Total exit Myanmar over human rights

Russia announces sweeping naval drills

Instagram Subscriptions shake up creator economy

Intel building $20B chip facility amid shortage

BNSF railroad tries to block 17,000 workers from striking

Examining an oil giant's 'ambition' for net-zero

Starbucks nixes vaccine mandate after ruling

Wealth of richest men doubled in pandemic: Oxfam

Microsoft buys Activision Blizzard for $68.7B

American Airlines reports $931 million fourth-quarter loss
American Airlines is reporting a $931 million loss for the fourth quarter and warning that omicron will further delay its recovery
January 20, 2022

14 minutes ago

Wall Street extends losses at open; Netflix plunges 20%

Stocks are lower at the open on Wall Street Friday, extending their losses to a fourth consecutive day

14 minutes ago

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 21, 2022. Shares were lower in Asia on Friday after a late afternoon sell-off wiped out gains for stocks on Wall Street. (AP Photo/Lee Jin-man)

17 minutes ago

Think your home value is soaring? Talk to a farmer

For all the talk about rising U.S. home values in cities and suburbs, they have nothing on the skyrocketing price of farmland

17 minutes ago

This 2018 photo shows Jeff Frank on his farm near Auburn, Iowa. Frank doesn’t feel rich, but simply based on the skyrocketing value of his land in northwest Iowa, it’s an apt way to describe him, even if he laughs at the idea. (Joseph L. Murphy/Iowa Soybean Association via AP)

2 hours ago

Intel building $20B Ohio chip facility amid global shortage

Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in everything from phones and cars to video games

2 hours ago

3 hours ago

Chevron, Total exit Myanmar over deteriorating human rights

TotalEnergies and Chevron, two of the world’s largest energy conglomerates, are stopping all operations in Myanmar

3 hours ago

FILE - This photo shows TotalEnergies tower in La Defense business district outside Paris on Sept.7, 2021. French energy conglomerate TotalEnergies has asked the American and French governments to support targeted sanctions against Myanmar's oil and gas funds, the largest single source of income for the country's military leaders. (AP Photo/Rafael Yaghobzadeh, File)

3 hours ago

Report: Peloton pauses production on bikes, treadmills

Peloton’s shares tumbled on Thursday after a media report said the exercise and treadmill company was temporarily halting production of its connected fitness products amid waning consumer demand

3 hours ago

China criticizes US missile sanctions as hypocrisy

China has criticized Washington for imposing sanctions on Chinese companies accused of exporting missile technology, and accused the United States of hypocrisy for selling nuclear-capable cruise missiles

3 hours ago

Workers wearing masks stand near missiles produced by China Aerospace Science and Industry Corp.displayed during the 13th China International Aviation and Aerospace Exhibition, also known as Airshow China 2021 on Tuesday, Sept. 28, 2021 in Zhuhai in southern China's Guangdong province. China on Friday, Jan. 21, 2022 criticized Washington for imposing sanctions on Chinese companies the U.S. says exported missile technology and accused the United States of hypocrisy for selling nuclear-capable cruise missiles. (AP Photo/Ng Han Guan)

3 hours ago

Netflix stock plunges as subscriber growth worries deepen

Netflix delivered its latest quarter of disappointing subscriber growth during the final three months of last year, a trend that management foresees continuing into the new year as tougher competition is undercutting the video streaming leader

3 hours ago

January 20

Asian shares slide after more losses on Wall Street

Asian shares have declined after a late-afternoon sell-off wiped out gains for stocks on Wall Street

January 20

In this photo provided by the New York Stock Exchange, Robert Greason works on the trading floor, Thursday, Jan. 20, 2022. Stocks rose broadly in morning trading on Wall Street Thursday as investors reviewed the latest corporate earnings and gauged the economic impact of rising inflation. (Courtney Crow/New York Stock Exchange via AP)

January 20

French energy giant Total joins push for Myanmar sanctions

French energy conglomerate TotalEnergies has asked the American and French governments to support targeted sanctions against Myanmar’s oil and gas funds

January 20

Serbia scraps planned Rio Tinto lithium mine after protests

Trying to defuse large protests by environmentalists, Serbia’s populist government said Thursday that it was canceling all licenses for mining giant Rio Tinto to open a lithium mine in the Balkan country

January 20

Serbian Prime Minister Ana Brnabic speaks during a press conference in Belgrade, Serbia, Thursday, Jan. 20, 2022. Trying to defuse protests by environmentalists, Serbia's populist government declared Thursday it is canceling all rights that would help mining giant Rio Tinto launch a lithium mine in the Balkan country. (AP Photo/Darko Vojinovic)

January 20

CSX railroad's Q4 profit jumps 23% even though volume slips

CSX railroad’s fourth-quarter profit jumped 23% even though volume slipped amid the ongoing supply chain challenges

January 20

FILE - A CSX freight train passes through Homestead, Pa. Feb. 12, 2018. CSX railroad’s fourth-quarter profit jumped 23% even though volume slipped amid the ongoing supply chain challenges. The Jacksonville, Florida-based railroad said Thursday, Jan. 20, 2022 it earned $934 million, or 42 cents per share. (AP Photo/Gene J. Puskar, File)

January 20

California's COVID gun store shutdowns ruled illegal

A federal appeals court has found that two California counties violated the Constitution’s right to bear arms when they shut down gun and ammunition stores in 2020 as nonessential businesses during the coronavirus pandemic

January 20

FILE - In this March 15, 2020 file photo people wait in a line to enter a gun store in Culver City, Calif. The 9th U.S. Circuit Court of Appeals on Thursday, Jan. 20, 2022, overturned two California counties orders shutting down gun and ammunition stores in 2020 as nonessential businesses during the coronavirus pandemic. (AP Photo/Ringo H.W. Chiu, File)

January 20

Alcoa, Casper rise; Regions Financial, Clorox fall

Stocks that traded heavily or had substantial price changes Thursday: Alcoa, Casper rise; Regions Financial, Clorox fall

January 20

How major US stock indexes fared Thursday

Stocks fell again on Wall Street Thursday as technology stocks sold off in the afternoon, pushing the Nasdaq further into what’s known as a correction

January 20

New vehicles to be rated on how they make drivers stay alert

Two organizations that influence many Americans’ automobile buying decisions will begin rating vehicles on how well they track behavior of motorists who use partially automated driver-assist systems

January 20

FILE - In this April 22, 2021 file photo, cars wait at a red light during rush hour at the Las Vegas Strip, in Las Vegas. Two organizations that influence many Americans’ automobile buying decisions will begin rating vehicles on how well they track behavior of motorists who use partially automated driver-assist systems. Consumer Reports and the Insurance Institute for Highway Safety say the ratings will factor into scores for new models starting this year. The new ratings, announced Thursday, Jan. 20, 2022 come as the auto industry struggles with how to make sure drivers stay alert as the systems take on more driving functions. (AP Photo/John Locher, File)

January 20

Fed study on digital currency leans toward role for banks

The Federal Reserve released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers

January 20

Federal Reserve Board Chairman Jerome Powell listens during his re-nominations hearing before the Senate Banking, Housing and Urban Affairs Committee, Tuesday, Jan. 11, 2022, on Capitol Hill in Washington. (Brendan Smialowski/Pool via AP)

January 20

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels

January 20

Union Pacific Q4 profit up 24% despite weak rail volume

Union Pacific hauled in 24% more profit in the fourth quarter even though supply chain problems and weak auto production continued to slow shipments because last year's results were weighed down by a one-time $278 million charge

January 20

Long-term mortgage rates continue rise; 30-year breaks 3.5%

Average long-term U.S. mortgage rates continued to rise this week

January 20

A for sale sign is displayed outside a home in Mount Lebanon, Pa., on Tuesday, Sept. 21, 2021. Average long-term U.S. mortgage rates continued to rise this past week, Thursday, Jan. 20, 2022. The rate on the benchmark 30-year loan breached 3.5%. (AP Photo/Gene J. Puskar)

January 20

Washington justices uphold $18M fine in GMO-labeling case

The Washington Supreme Court has narrowly upheld an $18 million fine levied against an association of large food brands that funneled dark money into a state political campaign

January 20

FILE - Washington Attorney General Bob Ferguson talks to reporters, Monday, Aug. 26, 2019, during a news conference in Seattle. In a 5-4 decision Thursday, Jan. 20, 2022, the Washington Supreme Court upheld an $18 million campaign finance penalty against the Consumer Brands Association, formerly known as the Grocery Manufacturers Association. Ferguson sued the group in 2013, alleging that it spent $11 million to oppose a ballot initiative without registering as a political committee or disclosing the source of the money. (AP Photo/Ted S. Warren)

January 20

Indonesia wants to use G20 presidency to aid COVID rebound

Indonesia’s leader says the country holding the presidency of the Group of 20 biggest economies wants to strengthen global partnership to aid the economic recovery from COVID-19

January 20

FILE - Indonesia's President Joko Widodo arrives at Rome's Fiumicino Airport, on Oct. 29, 2021. The Indonesia’s leader said Thursday, Jan. 20, 2022, that his country, which holds the presidency of the Group of 20 biggest economies this year, sought to strengthen global partnership and inclusiveness to aid the economic recovery amid a resurgent COVID-19 pandemic. (AP Photo/Andrew Medichini)

January 20

US says nuclear talks with Iran at 'decisive moment'

U_S_ Secretary of State Antony Blinken says talks with Iran over its nuclear program are at a “decisive moment.”

January 20

Annalena Baerbock, Foreign Minister of Germany, holds a press conference with her counterpart from the US, Antony Blinken, after talks with the foreign ministers of Great Britain and France at the Federal Foreign Office in Berlin, Germany, Thursday, Jan.20, 2022. (Kay Nietfeld/Pool via AP)

January 20

American Airlines reports $931 million fourth-quarter loss

American Airlines is reporting a $931 million loss for the fourth quarter and warning that omicron will further delay its recovery

January 20

FILE - American Airlines passenger jets prepare for departure, Wednesday, July 21, 2021, near a terminal at Boston Logan International Airport, in Boston. American Airlines Group Inc. (AAL) on Thursday, Jan. 20, 2022, reported a loss of $931 million in its fourth quarter. On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $1.44. Losses, adjusted for non-recurring costs, came to $1.42 per share. (AP Photo/Steven Senne, File)

January 20

McDonald's expanding test of McPlant in US stores

McDonald’s is expanding sales of its meatless McPlant burger to hundreds of locations

January 20

FILE - This June 25, 2019, photo shows the sign outside a McDonald's restaurant in Pittsburgh. McDonald’s is expanding U.S. testing of its meatless McPlant burger. The company said the McPlant __ which it's developing with plant-based protein company Beyond Meat __ will be tested at 600 stores in the San Francisco and Dallas areas starting Feb. 14, 2022. (AP Photo/Gene J. Puskar, File)

January 20

EXPLAINER: How sweeping EU rules would curb tech companies

European Union lawmakers have approved proposed rules that would require online companies to ramp up efforts to keep harmful content off their platforms and take other steps to protect users

January 20

FILE - An iPhone displays the apps for Facebook and Messenger in New Orleans, Aug. 11, 2019. Online companies would have to ramp up efforts to keep harmful content off their platforms and take other steps to protect users under rules that European Union lawmakers are set to vote on Thursday Jan. 20, 2022. (AP Photo/Jenny Kane, File)

January 20

Instagram testing feature that lets creators charge subscription fees

The announcement comes amid a wave of investments in the creator economy.

January 20

Russia announces sweeping naval drills amid Ukraine tensions

Russia has announced sweeping naval drills in several parts of the world this month, and claims the West is plotting “provocations” in neighboring Ukraine where the Kremlin has been accused of planning aggressive military action

January 20

A Russian air force pilot walks to aSu-30 fighter jet before a training mission in Krasnodar Region, Russia, Wednesday, Jan. 19, 2022. (AP Photo/Vitaliy Timkiv)

January 20

US home sales fall with properties on market at a record low

Sales of previously occupied homes fell in December for the first time in four months as many would-be buyers were frustrated by a lack of available houses, which fell to the lowest level in more than two decades

January 20

his is a home for sale in Mount Lebanon, Pa., on Tuesday, Sept. 21, 2021. Sales of previously occupied U.S. homes rose for the third straight month in November, driven by strong demand, low mortgage rates and intense competition for a relatively low number of properties on the market. The National Association of Realtors said Wednesday, Dec. 22, that existing homes sales rose 1.9% last month from October to a seasonally-adjusted annual rate of 6.46 million units. (AP Photo/Gene J. Puskar)

January 20

Rising inflation tightens squeeze on consumers

Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending

January 20

US jobless claims rise to 286,000, highest since October

The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market

January 20

FILE - A hiring sign is placed at a booth for prospective employers during a job fair Wednesday, Sept. 22, 2021, in the West Hollywood section of Los Angeles. The number of Americans applying for unemployment benefits rose to the highest level in three months as the fast-spreading omicron variant disrupted the job market. Jobless claims rose for the third straight week — by 55,000 to 286,000, highest since mid-October, the Labor Department reported Thursday, Jan. 20, 2022. (AP Photo/Marcio Jose Sanchez)

January 20

Turkey's central bank ends string of interest rate cuts

Turkey’s central bank has kept a key interest rate unchanged, halting a string of rate cuts that triggered a currency crisis and sent prices skyrocketing

January 20

A vendor waits for customers at a food shop, in Ankara, Turkey, Thursday, Jan. 20, 2022. Turkey's central bank kept a key interest rate unchanged on Thursday, halting a string of rate cuts that triggered a currency crisis and sent prices skyrocketing. Inflation in Turkey surged 36% last month - reaching a 19-year high and leaving many in the country of nearly 84 million struggling to buy food and other basic goods.(AP Photo/Burhan Ozbilici)

January 20

Ralph Lauren unveils Team USA's opening Olympic uniforms

Team USA’s opening ceremony uniforms for the Beijing Olympics include some sneaky new warming technology

January 20

Bobsledder Aja Evans models the Team USA Beijing winter Olympics opening ceremony uniforms designed by Ralph Lauren on Wednesday, Jan. 19, 2022, in New York. (Photo by Evan Agostini/Invision/AP)

January 20

Emirates to again fly Boeing 777 to US as 5G rollout slowed

Long-haul carrier Emirates says it will resume Boeing 777 flights to the U.S.

January 20

FILE - An Emirates Airlines Boeing 777 lands at Logan International Airport in Boston, March 10, 2014. Long-haul carrier Emirates said Thursday, Jan. 20, 2022, it would resume its Boeing 777 flights to the U.S. amid an ongoing dispute over the rollout of new 5G services there. (AP Photo/Michael Dwyer, File)

January 20

Slovenia's president to set general election for April 24

Slovenia's president says parliamentary election in Slovenia will be held on April 24

January 20

UK lawmaker says Johnson critics face government 'blackmail'

A lawmaker from Britain’s Conservatives has accused the government of blackmail.

January 20

In this photo provided by UK Parliament, Britain's Prime Minister Boris Johnson speaks during Prime Minister's Questions in the House of Commons, in London, Wednesday, Jan. 19, 2022. British Prime Minister Boris Johnson defied calls to resign in a feisty performance Wednesday in Parliament — but it may be too little to prevent a push by his Conservative Party's lawmakers to oust him over a string of lockdown-flouting government parties. Pressure on the prime minister grew as one Conservative lawmaker defected to the opposition Labour Party and former Conservative Cabinet Minister David Davis told him: “In the name of God, go!” (Jessica Taylor/UK Parliament via AP)

January 20

Amazon plans a clothing store for a Southern California mall

Amazon says it plans to open a clothing store in a Southern California mall later this year, a first for the online behemoth and a fresh challenge for already struggling traditional retailers

January 20

More than 2 dozen drugmakers to make Merck's COVID-19 pill

A U.N.-backed group says it has signed agreements with more than two dozen generic drug makers to produce versions of Merck’s coronavirus pill to supply 105 developing countries

January 20

Germany expects COVID-19 cases to peak in mid-February

Germany’s health minister expects the number of coronavirus infections in the country to keep rising for several weeks reaching hundreds of thousands of cases a day

January 20

People rush to a train at a subway station in Frankfurt, Germany, Thursday, Jan. 20, 2022 as the daily number of COVID-19 infections are rising again. (AP Photo/Michael Probst)

January 20

Security scanners across Europe tied to China govt, military

At some of the world’s most sensitive spots, authorities have installed security screening devices made by a single Chinese company with deep ties to China’s military and the highest levels of the ruling Communist Party

January 20

Airlines worldwide rush to change flights over US 5G problem

Airlines are rushing to cancel or change flights heading into the U.S.

January 20

FILE - An Emirates jetliner comes in for landing at the Dubai International Airport in Dubai, United Arab Emirates, Dec. 11, 2019. Airlines across the world, including the long-haul carrier Emirates, rushed Wednesday, Jan. 19, 2021 to cancel or change flights heading into the U.S. over an ongoing dispute about the rollout of 5G mobile phone technology near American airports. (AP Photo/Jon Gambrell, File)

January 19

Asian stocks rise after China rate cuts, Japan export gain

Asian stock markets are higher after China cut interest rates to shore up flagging economic growth and Japan reported a double-digit rise in exports

January 19

People walk by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 19, 2022. Asian shares were lower Wednesday after a retreat on Wall Street. (AP Photo/Koji Sasahara)

January 19

Army Corps to spend $732M on Mississippi River lock upgrade

The U.S. Army Corps will spend $732 million to expand a congested lock and dam in Missouri

January 19

United posts $646 million loss, omicron casts shadow over 1Q

United Airlines lost $646 million in the last three months of 2021, and the new year doesn't look too good either

January 19

FILE - United Airlines planes are parked at gates at Newark Liberty International Airport in Newark, N.J., on July 1, 2020. United Airlines lost $646 million in the fourth quarter and said Wednesday, Jan. 19, 2021, that the current spike in COVID-19 cases will hurt its results in the March quarter. (AP Photo/Seth Wenig, File)

January 19

AP FACT CHECK: Biden puffs up claims of virus, job gains

President Joe Biden has offered an expansive self-appraisal of his first year in office

January 19

President Joe Biden leaves after a news conference in the East Room of the White House in Washington, Wednesday, Jan. 19, 2022. (AP Photo/Susan Walsh)

January 19

Celeb-heavy Los Angeles suburb gets tough on water wasters

The local water district for wealthy Southern California communities in an enclave nestled in the Santa Monica Mountains is taking a more aggressive approach to conservation as the drought drags on despite a wet winter start

January 19

Homes are seen from Las Virgenes Reservoir in Westlake Village, Calif., Wednesday, Jan. 5, 2022. The community, one of the wealthiest neighborhoods in the Greater Los Angeles Area, is served by the Las Virgenes Municipal Water District. (AP Photo/Jae C. Hong)

January 19

How major US stock indexes fared Wednesday

Stocks continued to fall on Wall Street Wednesday as investors review the latest corporate earnings and prepare for higher interest rates

January 19

EXPLAINER: Microsoft's Activision buy could shake up gaming

Microsoft stunned the gaming industry when it announced this week it would buy game publisher Activision Blizzard for $68.7 billion, a deal that would immediately make it a larger video-game company than Nintendo

January 19

A sign for Microsoft offices, Thursday, May 6, 2021 in New York. Microsoft stunned the gaming industry when it announced, Tuesday, Jan. 18, 2022, it would buy game publisher Activision Blizzard for $68.7 billion, a deal that would immediately make it a larger video-game company than Nintendo. (AP Photo/Mark Lennihan)

January 19

Starbucks nixes vaccine mandate after Supreme Court ruling

Starbucks is no longer requiring its U.S. workers to be vaccinated against COVID-19, reversing a plan it announced earlier this month

January 19

BNSF railroad tries to block 17,000 workers from striking

BNSF railroad wants a federal judge to prevent two of its unions from going on strike next month over a new attendance policy that would penalize employees for missing work

January 19