Latest Business News

Unilever is cutting 7,500 jobs and spinning off its ice cream business

Mar. 19, 2024 06:38 AM EDT

LONDON (AP) — Unilever, the company that makes Ben & Jerry’s ice cream, Dove soaps and Vaseline, said Tuesday that it is cutting 7,500 jobs and spinning off its ice cream business to reduce costs and boost profits. London-based Unilever said its ice cream business, which also...

Sex trade to slavery: A UN agency says criminals reap $236B a year in profits from forced labor

Mar. 19, 2024 06:14 AM EDT

GENEVA (AP) — Illegal profits from forced labor worldwide have risen to the “obscene” amount of $236 billion per year, the U.N. labor agency reported Tuesday, with sexual exploitation to blame for three-fourths of the take from a business that deprives migrants of money they can send home,...

Bill and Lisa Ford to raise $10M for Detroit youth nonprofit endowments

Mar. 19, 2024 06:13 AM EDT

Ten nonprofits serving young people in Detroit will get an unusual, lasting gift as part of a campaign started by Lisa Ford and her husband, Bill Ford, the executive chairman of Ford Motor Co. The Fords, along with The Children’s Foundation, Tuesday announced their plans to raise...

Ian Eagle has familiar partners and home-court advantage as he becomes NCAA Tournament's lead voice

Mar. 19, 2024 06:03 AM EDT

Even though Ian Eagle is stepping into a new role as the lead announcer for CBS and TNT Sports' coverage of the men's NCAA Tournament, plenty of things will make it familiar. One of Eagle’s partners is Bill Raftery, the analyst for Nets games when Eagle moved to the television side...

Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years

Mar. 19, 2024 05:53 AM EDT

BANGKOK (AP) — World shares are mixed after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy. The BOJ’s decision to raise the overnight call rate to a range of 0 to 0.1%, up from minus 0.1% drew only a...

A newspaper says video of Prince William and Kate should halt royal rumor mill. That's a tall order

Mar. 19, 2024 05:41 AM EDT

LONDON (AP) — Prince William and his wife Catherine have been filmed at a farm shop near their Windsor home, The Sun newspaper reported — the first footage of Kate since she had abdominal surgery for an unspecified condition two months ago. The newspaper published a short clip...

Tax season is underway. Here are some tips to navigate it

Mar. 19, 2024 05:39 AM EDT

NEW YORK (AP) — It's tax season in the U.S., and for many people, filing tax returns can be a daunting task that’s often left until the last minute. But if you want to avoid the stress of the looming deadline, start getting organized as soon as possible. Whether you do your taxes...

China's stock watchdog fines property developer Evergrande, slaps lifetime ban on its chairman

Mar. 19, 2024 05:21 AM EDT

BANGKOK (AP) — Troubled property developer China Evergrande Group says Beijing’s stock watchdog has fined it 4.2 billion yuan ($333.4 million) for allegedly falsifying its revenue, among other violations, as it conducts a deep clean of the troubled financial sector. The company...

The average bonus on Wall Street last year was $176,500. That's down slightly from 2022

Mar. 19, 2024 05:09 AM EDT

NEW YORK (AP) — The average Wall Street bonus fell slightly last year to $176,500 as the industry added employees and took a “more cautious approach” to compensation, New York state’s comptroller reported Tuesday. The average bonus for employees in New York City’s...

The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

Mar. 19, 2024 03:20 AM EDT

TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's lending rate for overnight borrowing by banks was raised to a range of 0 to...