Business News

Latest Business Video

Latest Business Headlines

1 hour ago

Aging bridges in 16 states will be improved or replaced with the help of $5B in federal funding

Federal transportation officials are providing $5 billion to replace or improve aging bridges in 16 states
1 hour ago
FILE - A logging truck drives on the Interstate 5 bridge that spans the Columbia River and connects Portland, Ore., with southwest Washington state, Feb. 13, 2024. Dozens of aging bridges, including this Interstate 5 bridge, in 16 states will be replaced or improved with the aid $5 billion of federal grants announced Wednesday, July 17, by President Joe Biden's administration as the latest beneficiaries of a massive infrastructure law. (AP Photo/Jenny Kane, File)
1 hour ago

Momentum grows for interest rate cuts in 2024. Experts explain why.

Interest rate cuts would ease stress for households saddled by expensive loans.
1 hour ago
People shop at a grocery store  in Brooklyn on July 11, 2024 in New York City.
1 hour ago

Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record

Asian stocks are mostly lower even as investors wager that the Federal Reserve will come ahead with a cut to interest rates, while Australia's benchmark hit a new record
1 hour ago
A currency trader talks on the phone near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 17, 2024. (AP Photo/Ahn Young-joon)
3 hours ago

UK inflation stays at 2% target in June, leaving possible rate cut on a 'knife edge'

Inflation in the U.K. held steady at the Bank of England’s target rate of 2% in June
3 hours ago
FILE - A woman walks in front of the Bank of England, at the financial district in London, on March 23, 2023. Inflation in the U.K. held steady at the Bank of England's target rate of 2% in the year to June, official figures showed Wednesday, July 17, 2024, in a development that could be enough for policymakers to cut borrowing costs next month. (AP Photo/Kin Cheung, File)
4 hours ago

China's Communist Party charts technology- and security-focused development for reviving the economy

In a year of major elections setting the course of many countries for years to come, China’s ruling Communist Party is holding top-level meetings in Beijing to draft policies for reviving its slowing economy
4 hours ago
A man walks past the Central Business District in Beijing, Monday, July 15, 2024. In a year of major elections setting the course of many countries for years to come, China's ruling Communist Party is holding top-level meetings in Beijing to chart technology- and security-focused development for reviving the economy The closed-door meetings come at a time of growing pressure to fix chronic problems dragging on growth, including a weak job market, massive local government debts and a prolonged slump in the property market. (AP Photo/Vincent Thian)
4 hours ago

UN climate talks leader says financial help for poor nations is urgent goal of negotiations

The head of upcoming climate negotiations is telling world leaders that a new financial aid package for poor and disaster-struck nations is the urgent and make-or-break goal of United Nations talks this fall
4 hours ago
FILE - United Nations Climate Chief Simon Stiell speaks during a Chatham House event in London, April 10, 2024. (AP Photo/Frank Augstein, File)
July 17
FILE - The Mirage Hotel and Casino is seen in Las Vegas, on May 3, 2018. Gambling ends Wednesday, July 17, 2024, and the doors will close at The Mirage, the iconic tropical island-themed Las Vegas Strip hotel-casino that sparked a resort building boom when it opened in 1989 but became overshadowed while Sin City converted from a desert gambling hub to a worldwide entertainment destination. (AP Photo/John Locher, File)
July 17

UK's new Labour government sets out plans to 'take the brakes off' the economy in King's Speech

Britain’s new Labour Party government campaigned on a promise to bring bold change at modest cost
July 17
Britain's Prime Minister Keir Starmer speaks during an interview at the Senedd as part of a two-day tour of the four nations of the United Kingdom in Cardiff, Wales, Monday, July 8, 2024.(AP Photo/Alastair Grant, Pool)
July 17

In a media world that loves sharp lines, discussions of the Trump shooting follow a predictable path

Authorities haven't established why a 20-year-old Pennsylvania man attempted to assassinate former President Trump last week
July 17
U.S. Secret Service agents watch as an image of Republican presidential candidate former President Donald Trump is shown on a screen at a campaign rally at Trump National Doral Miami, Tuesday, July 9, 2024, in Doral, Fla. (AP Photo/Rebecca Blackwell)
July 16

Five Below's CEO and president steps down amid weak sales

Five Below says its CEO and President Joel Anderson has stepped down amid languishing sales at the discount retailer catering to teens
July 16
July 16
FILE - This booking photo provided by the Washington County, Ark., Sheriff's Office shows John Tyson, Tyson Foods chief financial officer, after he was arrested for criminal trespassing and public intoxication in Fayetteville, Ark., on Sunday, Nov. 6, 2022. Tyson has pleaded not guilty to a charge of driving while intoxicated in connection with a more recent arrest on June 13, 2024. (Washington County Sheriff's Office via AP)
July 16

How major US stock indexes fared Tuesday, 7/16/2024

U.S. stocks rose to records after several big companies delivered better-than-expected profits for the spring
July 16
July 16

Few residents opt out of $600 million class action settlement in East Palestine, Ohio, derailment

Lawyers say few people ultimately opted out of the $600 million class action settlement Norfolk Southern offered to people affected by last year's disastrous East Palestine train derailment despite the questions residents raised about the deal
July 16
FILE - A black plume rises over East Palestine, Ohio, as a result of a controlled detonation of a portion of the derailed Norfolk Southern trains Feb. 6, 2023. Very few people ultimately opted out of the $600 million class action settlement Norfolk Southern offered to people affected by last year's disastrous derailment despite the questions residents raised about the deal. (AP Photo/Gene J. Puskar, file)
July 16

Elon Musk says he's moving SpaceX, X headquarters from California to Texas

Billionaire Elon Musk says he’s moving the headquarters of SpaceX and social media company X to Texas from California
July 16
FILE - Elon Musk appears at an event, Nov. 2, 2023, in London. Musk posted to social media company X on Tuesday, July 16, 2024, that he plans on moving SpaceX from Hawthorne, Calif., to Starbase, Texas. X will move to Austin from San Francisco. (AP Photo/Kirsty Wigglesworth, Pool, File)
July 16

Plain old bad luck? New Jersey sports betting revenue down 24% at casinos, and 9.5% overall in June

New Jersey’s casinos saw their sports betting revenue decline by nearly 24% in June, and sports betting revenue overall in the state declined by 9.5%
July 16
A customer makes a sports bet at the Ocean Casino Resort on Sept. 6, 2022, in Atlantic City, N.J. Sports betting revenue at New Jersey's casinos and horse tracks declined by nearly 24% in June 2024 to just over $27 million, according to figures released by state gambling regulators on July 16, 2024. (AP Photo/Wayne Parry)
July 16

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for August delivery fell $1.15 to $80.76 per barrel Tuesday
July 16
July 16

A wind turbine is damaged off Nantucket Island. Searchers are combing beaches for debris

Wind developers off the touristy Massachusetts island of Nantucket have sent teams to search for debris after one of their wind turbine blades suffered damage
July 16
FILE - Giant wind turbine blades for the Vineyard Winds project are stacked on racks in the harbor, July 11, 2023, in New Bedford, Mass. Vineyard Wind said Tuesday, July 16, 2024, that it is working to recover debris on Nantucket's southern-facing beaches after one of the wind turbine blades suffered damage last weekend. (AP Photo/Charles Krupa, File)
July 16

Ex-TV host Carlos Watson convicted in trial over collapse of startup Ozy Media

Former TV personality Carlos Watson has been convicted in a federal financial conspiracy case about collapsed startup Ozy Media
July 16
In this courtroom sketch, in Federal Court, in the Brooklyn borough of New York, Tuesday, July 16, 2024, Carlos Watson seated right, looks back to the audience during the reading of the verdict in his trial. Watson has been convicted in a federal financial conspiracy case about collapsed startup Ozy Media. (Elizabeth Williams via AP)
July 16

U.S hits Mexican accountants and firms with sanctions for timeshare scams that support drug cartel

The U.S. has imposed sanctions on three Mexican accountants and four firms allegedly linked to a timeshare fraud ring run by the Jalisco New Generation drug cartel
July 16
FILE - The Treasury Building is viewed in Washington, May 4, 2021. The U.S. on Tuesday imposed sanctions on a group of Mexican accountants and firms allegedly linked to a timeshare fraud ring run by the Jalisco New Generation drug cartel. Three accountants were hit with sanctions, along with four Mexican real estate and accounting firms. In addition, Treasury and the FBI issued a notice to banks with a reminder to be vigilant in detecting and reporting timeshare fraud perpetrated by Mexico-based transnational criminal organizations. (AP Photo/Patrick Semansky, File)
July 16

Charles Schwab falls; Match Group, UnitedHealth rise, Tuesday, 7/16/2024

Stocks that traded heavily or had substantial price changes on Tuesday: Charles Schwab falls; Match Group, UnitedHealth rise
July 16
July 16

Summer pause: Small business sales growth tapers in June as consumers take a breather on spending

Small business sales growth slowed in June as consumers took a pause on spending
July 16
FILE - A shop holds a sidewalk sale on Feb. 10, 2023, in Providence, R.I. Small business sales growth slowed in June, 2024, as consumers took a pause on spending. (AP Photo/David Goldman, File)
July 16

MSNBC's 'Morning Joe' host says he was surprised and disappointed the show was pulled from the air

MSNBC “Morning Joe” host Joe Scarborough says he was “surprised and disappointed” the news and talk show was pulled off the air the day before and that the explanation he was given didn't hold water
July 16
FILE - MSNBC “Morning Joe” host Joe Scarborough takes questions from the audience, Oct. 11, 2017, on the campus of Harvard University, in Cambridge, Mass. The four-hour morning news and talk show was pulled off the air Monday, July 15, 2024, in favor of a live news feed focused on covering the aftermath of Saturday's assassination attempt on former President Donald Trump. (AP Photo/Steven Senne, File)
July 16

Amazon Prime Day is a major cause of injuries for warehouse workers, Senate review says

A report released by Senator Bernie Sanders says Amazon’s popular Prime Day sales event has been “a major cause of injuries” for warehouse workers who pick and pack customer orders at the company's facilities across the U.S. The report released to coin...
July 16
FILE - People arrive for work at the Amazon distribution center in the Staten Island borough of New York, on Oct. 25, 2021. A report released by U.S. Senator Bernie Sanders said Amazon's popular Prime Day sales event has been "a major cause of injuries" for warehouse workers who organize packages at its facilities across the country. (AP Photo/Craig Ruttle, File)
July 16

Kaspersky will shutter US operations after software is banned by Commerce Department, citing risk

Cybersecurity firm Kaspersky says it’s shutting down all of its operations in the United States, just weeks after the Commerce Department banned the use of the company’s software in the country
July 16
FILE - The sign is seen above the headquarters of Kaspersky Lab in Moscow, Jan. 30, 2017. Beginning July 25, 2024, the cybersecurity firm Kaspersky said it will begin to "gradually wind down" all of its operations in the United States, just weeks after the Commerce Department banned the use of the company's software in the country. (AP Photo/Pavel Golovkin, File)
July 16

Baltic countries notify Russia and Belarus they will exit the Moscow-controlled electricity grid

The electricity grid operators of the three Baltic countries on Tuesday officially notified Russia and Belarus that they will exit a 2001 agreement that has kept Estonia, Latvia and Lithuania connected to an electricity transmission system controlled b...
July 16
FILE - From left, then-Latvian Prime Minister Krisjanis Karins, Estonian Prime Minister Kaja Kallas and Lithuanian Prime Minister Ingrida Simonyte attend a joint news conference during their meeting in Tallinn, Estonia, Friday, Feb. 3, 2023. The electricity grid operators of the three Baltic countries on Tuesday, July 16, 2024, officially notified Russia and Belarus that they will exit a 2001 agreement that has kept Estonia, Latvia and Lithuania connected to an electricity transmission system controlled by Moscow. (AP Photo/Pavel Golovkin, File)
July 16

Microsoft faces UK competition investigation over hiring of AI startup's founder and key staff

British regulators have opened a preliminary investigation into Microsoft’s hiring of an AI startup’s key staff over concerns that it could thwart competition in the booming artificial intelligence market
July 16
FILE - Mustafa Suleyman co founder and CEO of Inflection AI speaks to journalist during the AI Safety Summit in Bletchley Park, Milton Keynes, England, on Nov. 1, 2023. The Competition and Markets Authority said Tuesday, July 16, 2024 that its review of the hirings from Inflection AI turned up “sufficient information” to open an investigation. Microsoft hired Inflection's co-founder and CEO Mustafa Suleyman to head up its consumer artificial intelligence business, along with several top engineers and researchers. (AP Photo/Alastair Grant)
July 16

Thousands of Philadelphia city workers are back in the office full time after judge rejects lawsuit

Thousands of Philadelphia city employees are back in their offices full time after a judge rejected a union’s request to block Mayor Cherelle Parker’s requirement that they return
July 16
FILE - Philadelphia Mayor Cherelle Parker speaks at at Philadelphia International Airport, Feb. 16, 2024, in Philadelphia. Thousands of Philadelphia city employees are back in their offices full time after a judge rejected a union's request to block Mayor Parker’s requirement that they return. (AP Photo/Matt Rourke, File)
July 16

Soros' Open Society Foundations say their restructuring is complete and pledge $400M for green jobs

Open Society Foundations revealed Tuesday its first new commitment after a years-long internal reorganization, pledging $400 million over eight years to support green economic development
July 16
Binaifer Nowrojee, the president of the Open Society Foundations, poses for a portrait in her organization's offices, Monday, July 15, 2024, in Washington. OSF made its first new commitment after a years-long internal reorganization, pledging $400 million over eight years to support green economic development. (AP Photo/Mark Schiefelbein)
July 16

IMF's economic view: Brighter outlook for China and India but tepid global growth

The International Monetary Fund has upgraded its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan
July 16
FILE - People shop at Taikoo Li Sanlitun shopping center in Beijing, China, on July 2, 2024. On Tuesday, July 16, 2024, the International Monetary Fund issues an update to its World Economic Outlook, a forecast for the global economy and major nations. (AP Photo/Vincent Thian, File)
July 16

Retail sales unchanged in June from May, underscoring shoppers' resilience

Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience in the face of an uncertain economy
July 16
FILE - A holiday sale sign is displayed at a retail store in Rosemont, Ill., June 25, 2024. On Tuesday, July 16, 2024, the Commerce Department releases U.S. retail sales data for June. (AP Photo/Nam Y. Huh, File)
July 16

Retail sales unchanged in June as inflation moderates, but still takes a bite

Retail sales unchanged in June as inflation moderates, but still takes a bite
July 16
July 16

Bank of America Q2 profits drop as higher interest rates slow down lending

Bank of America said Tuesday its profits fell in the second quarter, as higher interest rates ate into expenses, including its large consumer banking franchise
July 16
A Bank of America ATM is seen, Wednesday, Feb. 3, 2021, in Winchester, Mass. Bank of America said Tuesday, July 16, 2024, its profits fell in the second quarter, as higher interest rates ate into expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America saw a resurgence of activity in its investment banking division, which helped make up for some of the weakness in other parts of the business. (AP Photo/Elise Amendola)
July 16

Computer scientist who claimed to invent bitcoin referred to prosecutors for perjury

A London judge who found that an Australian computer scientist falsely claimed to be the mysterious creator of the bitcoin cryptocurrency says he will refer the case to British prosecutors for possible perjury charges
July 16
FILE - Craig Wright arrives at the Rolls Building in London for a hearing over the identity of the creator of Bitcoin, in London, Feb. 23, 2024. Wright, an Australian computer scientist found to have falsely claimed to be the mysterious creator of the bitcoin cryptocurrency, will be referred to British prosecutors for possible perjury and forgery charges, a London judge said Tuesday, July 16, 2024. (Lucy North/PA via AP)
July 16

Walmart retools its young adult clothing line in pursuit of fashion credibility

Walmart has spent three years overhauling its mix of adult apparel to make it stylish as well as sensible for middle America
July 16
A customer walks by No Boundaries merchandise at a Walmart Superstore in Secaucus, New Jersey, Thursday, July 11, 2024. Walmart, the nation's largest retailer, is using the upcoming back-to-school shopping season as another opportunity to try to get taken seriously as a fashion destination. (AP Photo/Eduardo Munoz Alvarez)
July 16

UnitedHealth sticks to 2024 outlook despite strong quarter with costs from massive cyberattack high

UnitedHealth topped second-quarter forecasts but remains cautious about the year as it continues to eat costs from a massive cyberattack and deal with rising medical expenses
July 16
FILE - A sign stands on UnitedHealth Group Inc.'s campus in Minnetonka, Minn., Oct. 16, 2012. UnitedHealth Group topped second-quarter expectations but stayed cautious on its outlook for the year as it continued to eat costs from a massive cyberattack to its Change Healthcare business. The health care giant said Tuesday, July 16, 2024, it still expects adjusted earnings to fall between $27.50 and $28 in 2024, an outlook it first predicted last fall. (AP Photo/Jim Mone, File)
July 16

UnitedHealth Group had a strong second-quarter but absorbed more costs from a massive cyberattack this year

UnitedHealth Group had a strong second-quarter but absorbed more costs from a massive cyberattack this year
July 16
July 16

Crypto is here to stay, but don't trust its get-rich-quick persona, author says

Nat Eliason lays it all out in "Crypto Confidential."
July 16
VIDEO: Author and entrepreneur Nat Eliason on new book 'Crypto Confidential'
July 16

Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record

Asian stocks are mostly lower even as investors wager that the Federal Reserve will come ahead with a cut to interest rates, while Australia's benchmark hit a new record
July 16
A sign at the intersection of Broad Street and Wall Street is shown on Tuesday, July 16, 2024, in New York. Wall Street is logging tiny gains early as earnings season revs up ahead of the release of U.S. retail sales data that could influence a decision by the Federal Reserve on interest rates. (AP Photo/Peter Morgan)
July 16

Hong Kong is testing out its own ChatGPT-style tool as OpenAI planned extra steps to block access

Hong Kong’s innovation minister says the government is testing its own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, after OpenAI decided to take extra steps to block access from unsupported regions lik...
July 16
FILE - The OpenAI logo is displayed on a cellphone with an image on a computer monitor generated by ChatGPT's Dall-E text-to-image model, Dec. 8, 2023, in Boston. Hong Kong’s government is testing out the city's own ChatGPT-style tool for its employees, with plans to eventually make it available to the public, its innovation minister said Saturday, July 13, 2024, on a radio show, after OpenAI took extra steps to block access from the city and other regions it does not support. (AP Photo/Michael Dwyer, File)
July 16
FILE - An Amazon Prime cardboard shipping box label is seen on March 17, 2023, in East Derry, N.H. Amazon Prime Day is here. And experts are reminding consumers to be wary of scams. (AP Photo/Charles Krupa, File)
July 15

On an unusually busy news day, did the assassination attempt's aftermath change the media tone?

In a typical presidential campaign, Donald Trump's selection of JD Vance as his running mate on the Republican ticket would have dominated media discussions for a week or two
July 15
President Joe Biden walks from Air Force One as he arrives at Harry Reid International Airport in Las Vegas, Monday, July 15, 2024. (AP Photo/Susan Walsh)
July 15

Indonesia's massive metals build-out is felling the forest for batteries

Indonesia has been building out a vast industry for nickel metal, traditionally used in making stainless steel but increasingly for batteries for electric cars and clean electricity projects
July 15
Abdullah Ambar, a fisherman, left talks to a woman carrying a tuna on her head at a village near Indonesia Weda Bay Industrial Park in Central Halmahera, North Maluku province, Indonesia, Sunday, June 9, 2024. Ambar says the sea near the nickel buildout has become murky and he can't fish there anymore. (AP Photo/Achmad Ibrahim)
July 15

Bolivia's beleaguered president announces natural gas discovery, promising a boon for the country

Bolivia’s embattled president has announced the discovery of vast natural gas reserves just north of the capital, describing it as the biggest find in nearly two decades that could help the cash-strapped country reverse its falling production
July 15
FILE - Bolivian President Luis Arce addresses an assembly of farm workers from the Confederation of Intercultural People of Bolivia in La Paz, Bolivia, Oct. 3, 2023. Arce announced on Monday, July 15, 2024, the discovery of a new natural gas and oil field in northern La Paz. (AP Photo/Juan Karita, File)
July 15

'Hillbilly Elegy': JD Vance's rise to vice presidential candidate began with a bestselling memoir

At the heart of JD Vance’s journey from venture capitalist to vice presidential candidate is a memoir he first thought of in law school, “Hillbilly Elegy.”
July 15
Lt. Governor Jon Husted nominates Republican vice presidential candidate Sen. JD Vance, R-Ohio, during the Republican National Convention Monday, July 15, 2024, in Milwaukee. (AP Photo/Morry Gash)
July 15

Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation

President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords
July 15
President Joe Biden speaks from the Roosevelt Room of the White House in Washington, Sunday, July 14, 2024, about the apparent assassination attempt of former President Donald Trump at a campaign rally in Pennsylvania. (AP Photo/Susan Walsh)
July 15

How major US stock indexes fared Monday, 7/15/2024

U.S. stocks ticked to the edge of records as Wall Street’s momentum keeps pushing it upward
July 15
July 15

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for August delivery fell 30 cents to $81.91 per barrel Monday
July 15
July 15

Tesla CEO Elon Musk appears to confirm delay in Aug. 8 robotaxi unveil event to make design change

Tesla CEO Elon Musk appears to be confirming a report that the company’s much-ballyhooed event to unveil a robotaxi will be delayed beyond its scheduled Aug. 8 date
July 15
FILE - Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference and Exhibition, March 9, 2020, in Washington. On Monday, July 15, 2024, Musk appeared to confirm a report that the company's much-ballyhooed event to unveil a robotaxi will be delayed beyond its scheduled Aug. 8 date. (AP Photo/Susan Walsh, File)
July 15

Mexico's costly Maya Train draws few passengers in its first six months of partial operation

The pet rail project of Mexican President Andrés Manuel López Obrador could wind up costing as much as $30 billion
July 15
FILE - A Mayan Train worker waits for passengers to board in Cancun, Mexico, Wednesday, March 6, 2024. When it's completed, the high-speed Maya Train will wind around Mexico's southern Yucatan peninsula. (AP Photo/Rodrigo Abd, File)
July 15

UN body that regulates the deep sea tackles proposed mining code amid growing concerns

Tense deliberations over how and if to allow deep sea mining are unfolding in Jamaica as at least one company threatens to apply for permission before rules and regulations are in place
July 15
FILE - People gather on Wickie Wackie Beach in Kingston, Jamaica, Oct. 2, 2016. Deliberations over how and if to allow deep sea mining unfolded Monday, July 15, 2024, as the U.N. International Seabed Authority, based in Jamaica, resumed talks over a proposed mining code after the last meeting in March 2024. (AP Photo/Eduardo Verdugo, File