Business News
Usain Bolt fires business manager over Jamaica fraud case
Jamaican sprinter Usain Bolt tells reporters he is baffled over how $12.7 million of his money has gone missing from a local private investment firm that authorities are investigating as part of a massive fraud
January 27, 2023Average long-term mortgage rate at lowest level in 4 months
The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher prices for just about everything, including homes
January 26, 2023'Father of Peeps' marshmallow candies Bob Born dies at 98
He mechanized the process to make the marshmallow chicks.
January 30, 2023
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US sanctions Myanmar groups ahead of coup anniversary
The U.S. is imposing sanctions on a group of people and organizations connected to Myanmar’s military regime as the two-year anniversary nears for the coup that removed the country’s civilian government
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US reassures Kosovo it won't support Serb-majority ministate
The United States has reassured Kosovars that it wouldn’t support the creation of a Serb-majority ministate in Kosovo like the one in Bosnia as Washington attempts to convince the country to accept a controversial association
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The top 10 apps on the Apple Store for week ending 1/29/2023
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Veteran AP, Plain Dealer reporter Mark Gillispie dies at 63
Mark Gillispie, a veteran journalist who wrote about many of Ohio’s biggest stories during a four-decade career primarily with The Associated Press and The Plain Dealer in Cleveland, has died
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Mexico's growth slows to 0.4% in 4Q, 3.6% in 2022
Mexico's economy slowed in the last quarter of 2022 but still managed to advance by 0.4%, bringing economic expansion for the full year to 3.6%
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Difficulty measuring methane slows plan to slash emissions
Satellites, drones and airplanes equipped with infrared cameras will likely be the backbone of a new federal policy to fine the nation’s largest methane polluters
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US consumer confidence lags as 2023 gets under way
American consumers are kicking off 2023 slightly less confident than they were at the end of last year as inflation and a potential recession continue to weigh on them
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Why workers at growing number of nonprofits are unionizing
Over his six years at the Southern Poverty Law Center, Esteban Gil watched colleague after colleague leave
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US probes complaints of parts flying off of Ford Explorers
The U.S. government’s road safety agency is investigating complaints that windshield trim panels can fly off of Ford Explorers while they’re traveling at highway speeds
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January 31
Justice Department seeks Tesla automated driving documents
The U.S. Justice Department has requested documents from Tesla related to its Autopilot and “Full Self-Driving” features
January 31
January 31
US wage growth slowed in the final quarter of 2022
Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, the third straight slowdown that could help reassure the Federal Reserve that wage gains won’t fuel higher inflation
January 31
January 31
How Myanmar is faring 2 years after army ousted Suu Kyi
Two years after Myanmar's generals ousted Aung San Suu Kyi's elected government, thousands of people have died in civil conflict and many more have been forced from their homes in a dire humanitarian crisis
January 31
January 31
Child welfare algorithm faces Justice Department scrutiny
The Justice Department has been scrutinizing a controversial artificial intelligence tool used by a Pittsburgh-area child protective services agency following concerns that it could result in discrimination against families with disabilities, The Assoc...
January 31
January 31
Feds use rare veto to block Alaska copper, gold mine plan
The U.S. Environmental Protection Agency has effectively vetoed a proposed copper and gold mine in a remote region of southwest Alaska that supports the world’s largest sockeye salmon fishery
January 31
January 31
Drugmaker Pfizer starts low with 2023 earnings forecast
Pfizer surprised Wall Street on Tuesday by predicting bigger-than-expected sales drops this year for two key products: its COVID-19 vaccine and treatment
January 31
January 31
Adult Happy Meals, McRib, feed McDonald's sales in Q4
Adult Happy Meals and other limited-time promotions boosted traffic at McDonald’s restaurants during the fourth quarter despite higher prices
January 31
January 31
Exxon booked record profits in 2022 as energy prices soared
Exxon Mobil posted record annual profits for 2022, as Americans struggled with high prices for gasoline, home heating and consumer goods
January 31
January 31
China lobbies Dutch to defend trade after chip curbs
China’s foreign minister has appealed to his Dutch counterpart to defend free trade after the Netherlands and Japan agreed to cooperate with U.S. restrictions on Chinese access to advanced processor chip technology due to security concerns
January 31
January 31
GM quarterly profit jumps 16% as sales rebound late in 2022
Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors’ fourth-quarter net income up 16% over the same period a year ago
January 31
January 31
China accuses Washington of wanting 'technology hegemony'
China’s government has accused Washington of pursuing “technology hegemony
January 31
January 31
Azerbaijan to UN court: Armenia must stop laying land mines
Azerbaijan is appealing to the United Nations’ highest court to urgently order Armenia to stop the laying of land mines and booby traps on Azerbaijani territory and disclose the location of those already planted
January 31
January 31
Indian billionaire Adani at center of $68B stock market rout
Asia’s richest man, Gautam Adani, has seen his companies shed $68 billion in market value in the past week after short-selling firm Hindenburg Research accused him of “pulling the largest con in corporate history.”
January 31
January 31
Europe scrapes out economic growth by dodging gas disaster
Europe’s economy has scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants
January 31
January 31
Thousands of care sector workers protest in Brussels
More than 10,000 people have protested through central Brussels to demand better working conditions and more pay in the care sector which have been especially hard-hit during the COVID-19 crisis
January 31
January 31
Biden visits NYC to highlight grant for Hudson rail tunnel
President Joe Biden has arrived in New York City to showcase a $292 million mega grant that'll be used to help build a rail tunnel beneath the Hudson River
January 31
January 31
Nigeria sees cash shortage amid push for redesigned currency
Experts are warning that Nigeria's push to replace its paper money with newly designed currency notes has created a shortage of cash
January 31
January 31
After tank pledges, Ukraine seeks Western fighter jets
Ukraine is pushing its Western allies to provide it with fighter jets
January 31
January 31
Strikes, protests hit France in round 2 of pension battle
French labor leaders hope to bring more than 1 million demonstrators into the streets again in the latest clash of wills with the government over plans to push back France’s retirement age
January 31
January 31
'Hands off Africa!': Pope blasts foreign plundering of Congo
Pope Francis is demanding that foreign powers stop plundering Africa’s natural resources
January 31
January 31
Asian shares fall in muted trading ahead of Fed meeting
Stocks are ticking slightly higher on Wall Street
January 31
January 31
Boeing bids farewell to last 747 jumbo jet
Boeing bids farewell to an icon on Tuesday: It's delivering its final 747 jumbo jet
January 31
January 30
Chinese factory activity rebounds, adding to recovery signs
A survey shows Chinese factory activity rebounded in January, adding to signs the world’s second-largest economy might be recovering from a painful slump
January 30
January 30
Samsung's profit plummets amid global economic woes
Samsung Electronics says its profit for the last quarter plummeted nearly 70% as a weak global economy depressed demand for its consumer electronics products and computer memory chips
January 30
January 30
IMF upgrades outlook for the global economy in 2023
The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia’s ongoing war against Ukraine
January 30
January 30
Self-driving semis focus of California rules, legislation
The future of the nation's nearly $900 billion trucking industry could be shaped in California
January 30
January 30
Feds expect to collect $4.7B in insurance fraud penalties
The Biden administration is estimating that it could collect as much as $4.7 billion from insurance companies with newer and tougher penalties for submitting improper charges on the taxpayers’ tab for Medicare Advantage care
January 30
January 30
'Father of Peeps' marshmallow candies Bob Born dies at 98
He mechanized the process to make the marshmallow chicks.
January 30
January 30
Russian millionaire on trial in hack, insider trade scheme
Russian millionaire and associates allegedly made tens of millions of dollars .
January 30
January 30
Court upholds Minnesota 'Clean Car Rule' tied to California
The rule ties the state’s vehicle emission standards to California regulations.
January 30
January 30
American Express launches products for small businesses
American Express is launching a suite of financial service products for small businesses as it aims build up its presence in the small business sector
January 30
January 30
SoFi Technologies, CACI International rise; Ford, Hess fall
Stocks that traded heavily or had substantial price changes Monday: SoFi Technologies, CACI International rise; Ford, Hess fall
January 30
January 30
How major US stock indexes fared Monday 1/30/2023
Stocks closed lower on Wall Street ahead of a week full of potentially market-moving events
January 30
January 30
Treasury to increase borrowing amid debt ceiling standoff
The Treasury Department has announced plans to increase its borrowing during the first three months of 2023
January 30
January 30
Johnson & Johnson can't invoke bankruptcy to stop cancer lawsuits, court says
The company faces 38,000 lawsuits that allege its baby powder causes cancer.
January 30
January 30
Plan outlined for new Tampa Bay Rays ballpark, redevelopment
A new Tampa Bay Rays ballpark will be built as part of a massive redevelopment project in what was once a thriving Black neighborhood
January 30
January 30
Closing prices for crude oil, gold and other commodities
Benchmark U.S. crude oil for March delivery fell $1.78 to $77.90 a barrel Monday
January 30
January 30
Wintry weather scrubs more than 1,000 flights in US
More than 1,000 flights were cancelled and many more delayed as Texas and nearby states dealt with freezing temperatures and wintry precipitation
January 30
January 30
Doctor gets nearly 17 years in prison for vast opioid scheme
A Detroit-area doctor has been sentenced to nearly 17 years in federal prison and ordered to pay $30 million
January 30
January 30
Boeing will open new assembly line to build 737 Max planes
Boeing is trying to ramp up production of its 737 Max to take advantage of a backlog in orders for the jet
January 30
January 30
For Trump, Georgia election case just one of many legal woes
An investigation in Georgia looking into efforts by Donald Trump and his allies to overturn his 2020 election defeat is among a number of cases that pose legal problems for the former president
January 30