Business News

Latest Business Video

Latest Business Headlines

3 hours ago

Ruptured oil pipeline off California approved for repairs

A federal agency has given a Texas oil company approval to repair a pipeline that ruptured a year ago and spilled tens of thousands of gallons of crude off the Southern California coast
3 hours ago
October 01

Hermes unveils its Paris show, as Ukraine's designers unite

A giant glowing crystal rock evoked a glamorous alien planet for Hermes’ VIP guests at Saturday’s show at Paris Fashion Week
October 01
Irina Shayk wears a creation for the Vivienne Westwood ready-to-wear Spring/Summer 2023 fashion collection presented Saturday, Oct. 1, 2022 in Paris. (Photo by Vianney Le Caer/Invision/AP)
October 01

Russia blindfolds, detains Ukraine nuclear plant chief

Ukraine’s nuclear power provider says Russian forces blindfolded and detained the head of Europe’s largest nuclear power plant hours after Moscow illegally annexed a swath of Ukrainian territory
October 01
October 01

UK train strikes and energy hikes add to a week of turmoil

Trains in Britain have all but ground to a halt coordinated strikes by rail workers added to a week of turmoil caused by soaring energy prices and unfunded tax cuts that roiled financial markets
October 01
A woman walks on the beach on the south Bank of river Thames in London, Saturday, Oct. 1, 2022.(AP Photo/Alberto Pezzali)
October 01

NIH to fund unproven ALS drugs under patient-backed law

The U.S. government will soon spend $25 million to help patients access experimental drugs for the incurable illness known as Lou Gehrig's disease
October 01
October 01

India launches 5G services, Modi calls it step in new era

Prime Minister Narendra Modi has launched 5G services in India, calling it a “step towards the new era.”
October 01
Indian Prime Minister Narendra Modi speaks at the launch of 5G services in India, in New Delhi, Saturday, Oct. 1, 2022. Modi launched the much-awaited services that aim to provide seamless coverage, high data rate, less delay in internet connectivity and highly reliable communications in presence of India’s telecom leaders in New Delhi, calling it a “step towards the new era.” (AP Photo)
September 30

Newsom relaxes refinery rules as California gas prices soar

California Gov. Gavin Newsom has called on state regulators to relax rules on oil refineries in an effort to lower soaring fuel prices
September 30
FILE - A gasoline price board is displayed at a gas station in San Francisco, Tuesday, July 19, 2022. California Gov. Gavin Newsom, on Friday, Sept. 30, 2022, directed state regulators to let oil refineries switch to a winter gasoline blend earlier than normal in an effort to lower soaring gas prices. He also called on the Legislature to pass a new windfall tax on oil industry profits. (AP Photo/Jeff Chiu, File)
September 30

US judge dismisses Mexico lawsuit against gun manufacturers

A United States federal judge has dismissed a lawsuit brought by the Mexican government against U.S. gun manufacturers that argued their commercial practices has led to bloodshed in Mexico
September 30
September 30

Supply chain issues could slow fix of Florida electric grid

Crews are starting to fix Florida's electric grid by repairing and rebuilding where lines were damaged or flooded by Hurricane Ian
September 30
Island residents walk around the downtown area on the island of Fort Myers Beach, Fla., Friday, Sept. 30, 2022. Hurricane Ian made landfall Wednesday, Sept. 28, 2022, as a Category 4 hurricane on the southwest coast of Florida. (Amy Beth Bennett/South Florida Sun-Sentinel via AP)
September 30

Stocks end September down 9.3%, worst month since March 2020

Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020
September 30
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Sept. 30, 2022. Asian stocks have sunk again after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened. (AP Photo/Ahn Young-joon)
September 30

Pay bumps coming for more farmworkers, long denied overtime

Harvest season means long days for U.S. farmworkers — but usually no overtime pay
September 30
September 30

How major US stock indexes fared Friday 9/30/2022

Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020
September 30
September 30

College athletics sees surge in nonprofits paying players

The new world of college athletes getting paid for endorsements has created a rapidly expanding pop-up industry: Nonprofits are being formed to set up athletes with deals that pay them to promote charities
September 30
FILE - Texas players sing "The Eyes Of Texas," after defeating Kansas State 22-17 in an NCAA college football game in Austin, Texas, on Nov. 26, 2021. The new business world of college athletes getting paid for endorsements has created a rapidly expanding pop-up industry: nonprofits formed to set up athletes with deals that pay them to promote charities. Among the first was Horns With Heart, a nonprofit set up to aid offensive linemen at the University of Texas in 2021. A bill filed Wednesday, Sept. 28, 2022, would eliminate the tax deduction for individuals and for specific contributions that are then paid to athletes for name, image and likeness deals. (AP Photo/Chuck Burton, File)
September 30

Nike, Carnival fall; F45 Training, Micron Technology rise

Stocks that traded heavily or had substantial price changes Friday: Nike, Carnival fall; F45 Training, Micron Technology rise
September 30
September 30

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for November delivery fell $1.74 to $79.49 a barrel Friday
September 30
September 30

Boeing behind schedule in gaining approval for new Max jets

Boeing is behind schedule in submitting documentation for new versions of its 737 Max jetliner, and it's asking Congress for more time
September 30
FILE - The logo for Boeing appears on a screen above a trading post on the floor of the New York Stock Exchange, Tuesday, July 13, 2021. Boeing is behind schedule in submitting documentation for new versions of its 737 Max jetliner, and it's asking Congress for more time. Federal officials say Boeing has completed little of the work necessary to certify the new Max versions by a Dec. 31, 2022 deadline. (AP Photo/Richard Drew, file)
September 30

Brainard warns US rates to stay high, notes global impact

Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials
September 30
FILE - Federal Reserve Board Vice Chair Lael Brainard speaks during a conversation with leaders from organizations that include nonprofits, small businesses, manufacturing, supply chain management, the hospitality industry, and the housing and education sectors at the Federal Reserve building on Sept. 23, 2022, in Washington. Brainard said Friday, Sept. 30, 2022, that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials. (AP Photo/Manuel Balce Ceneta, File)
September 30

Morocco fumes over Adidas design of Algerian soccer jersey

The Moroccan government has asked sports apparel company Adidas to pull its new jersey collection for Algeria’s national soccer team off the market
September 30
September 30

West rejects Putin's claim it sabotaged Baltic pipelines

Russian President Vladimir Putin has accused the West of sabotaging the Russia-built gas pipelines under the Baltic Sea to Germany
September 30
In this photo provided by the Armed Forces of Denmark, the crew in a helicopter of the Armed Forces monitors the gas leak, in the Baltic Sea, Thursday, Sept. 29, 2022. Following the suspected sabotage this week of the Nord Stream 1 and 2 pipelines that carry Russian natural gas to Europe, there were two leaks off Sweden, including a large one above North Stream 1, and a smaller one above North Stream 2. (Rune Dyrholm/Armed Forces of Denmark via AP)
September 30

Nobel Prize season arrives amid war, nuclear fears, hunger

This year’s Nobel Prize season approaches as Russia’s invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster
September 30
FILE - In this Monday, Dec. 10, 2018 file photo, a bust of the Nobel Prize founder, Alfred Nobel on display at the Concert Hall during the Nobel Prize award ceremony in Stockholm. This year’s Nobel season approaches as Russia’s invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster. The famously secretive Nobel Committee never leaks or hints who will win its prizes for medicine, physics, chemistry, literature, economics or peace. So it is anyone’s guess who might win the awards that will be announced starting next Monday, Oct. 3, 2022. (Henrik Montgomery/Pool Photo via AP, File)
September 30

Hurricane Ian could cause $65 billion in damage

The best-case-scenario for damage is $55 billion, a data firm said.
September 30
A boat lays sideways in the canal in the aftermath of Hurricane Ian in Punta Gorda, Fla., Sept. 29, 2022.
September 30

Resilient US consumers spend slightly more in August

Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials
September 30
Shoppers shop at a grocery store in Glenview, Ill., Monday, July 4, 2022. Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July, the Commerce Department said Friday Sept. 30. (AP Photo/Nam Y. Huh)
September 30

A deep dive into risks for undersea cables, pipes

Deep under water, the pipes and cables that carry the modern world’s lifeblood — energy and information — are out of sight and largely out of mind
September 30
FILE - A large disturbance in the sea can be observed off the coast of the Danish island of Bornholm Tuesday, Sept. 27, 2022 following a series of unusual leaks on two natural gas pipelines running from Russia under the Baltic Sea to Germany have triggered concerns about possible sabotage. The suspected sabotage this week of two gas pipelines that tied Russia and Europe together is driving home how vital yet weakly protected undersea infrastructure is vulnerable to attack, with potentially catastrophic repercussions for the global economy. (Danish Defence Command via AP, File)
September 30

EXPLAINER: A deep dive into risks for undersea cables, pipes

Deep under water, the pipes and cables that carry the modern world’s lifeblood — energy and information — are out of sight and largely out of mind
September 30
FILE - A large disturbance in the sea can be observed off the coast of the Danish island of Bornholm Tuesday, Sept. 27, 2022 following a series of unusual leaks on two natural gas pipelines running from Russia under the Baltic Sea to Germany have triggered concerns about possible sabotage. The suspected sabotage this week of two gas pipelines that tied Russia and Europe together is driving home how vital yet weakly protected undersea infrastructure is vulnerable to attack, with potentially catastrophic repercussions for the global economy. (Danish Defence Command via AP, File)
September 30

Unpaid internships face new scrutiny as barriers to careers

Unpaid internships are facing new scrutiny from colleges, state lawmakers and student activists
September 30
Marina Aina, a 21-year-old student majoring in American Studies at Pomona College, poses for photos on the school's campus in Claremont, Calif., Thursday, Sept. 22, 2022. Aina was used to getting paid for her internships and could not see taking an unpaid opportunity over a summer job. "If I felt that it wasn't compensated then I wouldn't go for it because I wouldn't have the funds to cover it," Aina says. "I wouldn't want to ask my parents, who are helping me pay for college, to pay for something I'm doing over the summer." (AP Photo/Jae C. Hong)
September 30

Inflation hits record 10% in 19 EU countries using euro

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar
September 30
FILE - A woman uses an ATM machine in the main town of the Aegean Sea island of Rhodes, southeastern Greece, Tuesday, May 10, 2022. Inflation in 19 European countries using the euro currency hits another record at 10% as energy prices soar. (AP Photo/Thanassis Stavrakis, File)
September 30

UK's Truss meets with fiscal watchdog amid economic crisis

British Prime Minister Liz Truss and her Treasury chief have met with the independent Office of Budget Responsibility amid efforts to ease concerns about unfunded tax cuts that have unleashed turmoil on financial markets
September 30
FILE - British Prime Minister Liz Truss speaks to the media on the occasion of her visit at the Empire State building in New York, on Sept. 20, 2022. British Prime Minister Liz Truss on Thursday Sept. 29, 2022, defended her divisive economic plan and shrugged off the turmoil it has stirred in financial markets, saying she’s willing to make “controversial and difficult decisions” to get the economy growing. (Toby Melville/Pool Photo via AP, File)
September 30

China manufacturing weak, adding to economy pressure

Two surveys show growth in Chinese manufacturing was weak in September, export orders fell and employers cut jobs
September 30
A man works at a manufacturer of Integrated Chip encapsulation in Nantong in eastern China's Jiangsu province on Friday, Sept. 16, 2022. Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, Sept. 30, adding to pressure on lackluster economic growth (Chinatopix Via AP)
September 30

New rocket company fails to achieve launch on 2nd attempt

A year after its first rocket launch failed, a new aerospace company has been unsuccessful in its second attempt to place multiple satellites into orbit
September 30
September 30

'Big impact': UK economic chaos, pound plunge hit businesses

The British government’s economic stimulus plan is designed to help people and businesses by cutting taxes and growing the economy
September 30
Olley's Fish Experience shop owner Harry Niazi speaks to The Associated Press in his shop in London, Wednesday, Sept. 28, 2022. Like many small business owners in Britain, Harry Niazi hoped for government help to keep his south London fish and chip shop going in the face of rocketing energy bills and soaring inflation. But an economic stimulus plan announced last week by Prime Minister Liz Truss’ new government brought no relief — far from it. (AP Photo/Frank Augstein)
September 30

India raises interest rate to 5.90% to tame inflation

India’s central bank has raised its key interest rate to 5.90% and said developing economy were facing slowing growth, elevated food and energy prices, debt distress and currency depreciation
September 30
FILE - Reserve Bank of India (RBI) Governor Shaktikanta Das gestures during a press conference after RBI's bi-monthly monetary policy review meeting in Mumbai, India, on Feb. 6, 2020. India’s central bank on Friday, Sept. 30, 2022, raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said the economies of developing countries were confronted with challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. (AP Photo/Rajanish Kakade, File)
September 30

Japan to pay up to $320M for US company's chip production

Japan said it is providing a major U.S. chipmaker a subsidy of up to $322 million to back its plan to produce advanced memory chips at a Hiroshima factory
September 30
FILE - A sign marks the entrance of the Micron Technology automotive chip manufacturing plant on Feb. 11, 2022, in Manassas, Va. Japan is providing a major U.S. chipmaker a subsidy of up to 46.6 billion yen ($322 million) to support its plan to produce advanced memory chips at a Hiroshima factory, the Japanese trade minister said Friday, Sept. 30, 2022. (AP Photo/Steve Helber, File)
September 30

Asian stocks sink on German inflation, British tax cuts

Asian stocks have sunk again after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened
September 30
Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Sept. 30, 2022. Asian stocks have sunk again after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened. (AP Photo/Ahn Young-joon)
September 30

Musk and Twitter CEO Agrawal were briefly pals, texts show

Newly disclosed text messages between Elon Musk and Twitter CEO Parag Agrawal showed that the two men briefly bonded in April over their love of engineering — at least until Musk tweeted this message early on Aug. 9: ‘Is Twitter dying
September 30
September 30

Police say hacker concealed ID in Australian privacy breach

Police say the hacker who stole the personal data of almost 10 million people in one of Australia’s worst privacy breaches concealed their identity, actions and whereabouts
September 30
FILE - An Optus phone sign hangs above its store in Sydney, Australia, Thursday, Oct. 7, 2021. Australia’s federal and state governments on Wednesday, Sept. 28, 2022, called for Optus to pay for replacing identification documents including passports and driver’s licenses to avoid identity fraud after 9.8 million of the telecommunications company’s customers had personal data stolen by computer hackers. (AP Photo/Mark Baker, File)
September 29

Global stocks fall after UK's Truss defends tax cuts

Asian stocks have sunk again after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened
September 29
A currency trader works at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 29, 2022. Asian stock markets have followed Wall Street higher after Britain’s central bank moved forcefully to stop a budding financial crisis. (AP Photo/Ahn Young-joon)
September 29

Ex-PG&E execs to pay $117M to settle lawsuit over wildfires

Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility’s equipment
September 29
FILE - Sheriff's deputies recover the remains of a victim of the Camp Fire in Paradise, Calif., Nov. 10, 2018. Former executives and directors of Pacific Gas & Electric have agreed to pay $117 million to settle a lawsuit over devastating 2017 and 2018 California wildfires sparked by the utility's equipment, it was announced Thursday, Sept. 29, 2022. (AP Photo/Noah Berger, File)
September 29

House approves antitrust bill targeting Big Tech dominance

The House has approved antitrust legislation targeting the dominance of Big Tech companies by giving states greater power in competition cases and increasing money for federal regulators
September 29
This photo combo of images shows logos for Apple, Meta, Google and Amazon. The House on Thursday, Sept. 29, 2022, approved sharply scaled-down legislation targeting the dominance of Big Tech companies by giving states greater power in antitrust cases and increasing money for federal regulators. The bipartisan measure, passed by a 242-184 vote, pales in comparison with a more ambitious package aimed at reining in Meta, Google, Amazon and Apple and cleared by key House and Senate committees. (AP Photo)
September 29

The personal costs of fleeing a hurricane

Many residents evacuating Florida from Hurricane Ian are facing dire financial choices.
September 29
Many residents evacuating Florida from Hurricane Ian are facing dire financial choices.
September 29

In one tiny German town, nobody worries about energy bills

While most Europeans are watching their energy bills soar as the war in Ukraine drives up the price of natural gas, oil and electricity, the tiny German town of Feldheim has been energy self-sufficient for a decade
September 29
Wind turbines turn near the village of Feldheim, rear left, near Treuenbrietzen, Germany, Wednesday, Sept. 28, 2022. Located about an hour and a half south of Berlin, the village of Feldheim has been energy self-sufficient for more than a decade. (AP Photo/Michael Sohn)
September 29

'I felt so guilty': People evacuating Hurricane Ian face dire financial choices

“For low-income people, this is a disaster,” said a Miami-area food bank head.
September 29
Heavy traffic moves slowly on I-4 East as residents evacuate the Gulf Coast of Florida in advance of the arrival of Hurricane Ian, Sept. 27, 2022, in Four Corners, Fla.
September 29

How major US stock indexes fared Thursday 9/29/2022

Stocks are back to falling on Wall Street as worries about a possible recession and rising bond yields put the squeeze back on markets
September 29
September 29

CarMax, Rite Aid fall; Enerpac, Vail Resorts rise

Stocks that traded heavily or had substantial price changes Thursday: CarMax, Rite Aid fall; Enerpac, Vail Resorts rise
September 29
September 29

EXPLAINER: How do we know when a recession has begun?

The economy shrank in the first half of this year, underscoring fears of a broad-based slowdown that could lead to a recession
September 29
Federal Reserve Chair Jerome Powell speaks at a news conference Wednesday, Sept. 21, 2022, at the Federal Reserve Board Building, in Washington. Intensifying its fight against chronically high inflation, the Federal Reserve raised its key interest rate by a substantial three-quarters of a point for a third straight time, an aggressive pace that is heightening the risk of an eventual recession. (AP Photo/Jacquelyn Martin)
September 29

Closing prices for crude oil, gold and other commodities

Benchmark U.S. crude oil for November delivery fell 92 cents to $81.23 a barrel Thursday
September 29
September 29

Senate passes stopgap bill to avert shutdown, aid Ukraine

Congress is moving quickly to avoid a government shutdown
September 29
September 29

UK's Truss defends economic plan that sent pound tumbling

British Prime Minister Liz Truss has defended her economic plan that roiled financial markets, saying she’s willing to make “difficult decisions” to get the economy growing
September 29
British Prime Minister Liz Truss visits Berkeley Modular, in Northfleet, Kent, Britain, Friday, Sept. 23, 2022. (Dylan Martinez/Pool Photo via AP)
September 29

Pumpkin farms adapt to improve soil, lower emissions

This Thanksgiving, your pumpkin pie might have a lower carbon footprint
September 29
Pumpkins are loaded into a semi-trailer on Bill Sahs' farm, Monday, Sept. 12, 2022, in Atlanta, Ill. On the central Illinois farms that supply 85% of the world’s canned pumpkin, farmers like Sahs are adopting regenerative techniques designed to reduce emissions, attract natural pollinators like bees and butterflies and improve the health of the soil. The effort is backed by Libby’s, the 150-year-old canned food company, which processes 120,000 tons of pumpkins each year from Illinois fields. Libby’s parent, the Swiss conglomerate Nestle, is one of a growing number of big food companies supporting the transition to regenerative farming in the U.S. (AP Photo/Teresa Crawford)
September 29

Hurricane Ian could cripple Florida's home insurance industry

Experts say a storm like Ian could push insurance companies into insolvency.
September 29
Damaged homes are seen after Hurricane Ian moved through the Gulf Coast of Florida, Sept. 29, 2022, in Punta Gorda, Fla.
September 29

Buffett's company buys nearly 6M more Occidental shares

Warren Buffett’s company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21% of the oil producer
September 29
FILE - In this May 5, 2019, file photo, Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Warren Buffett's company picked up another $368 million worth of Occidental Petroleum stock this week to give it control of nearly 21% of the oil producer. (AP Photo/Nati Harnik, File)