Latest Business News

The Latest: Pakistan PM congratulates Modi on India election

May. 23, 2019 9:17 AM EDT

NEW DELHI (AP) — The Latest on India's general elections results (all times local): 6:45 p.m. Pakistani Prime Minister Imran Khan has congratulated his Indian counterpart for success in a massive general election. With early election results showing Prime Minister Narendra Modi and his Hindu nationalist...

China has more weapons in US tariff war - but do they work?

May. 23, 2019 8:34 AM EDT

BEIJING (AP) — Looking for ways to hit back at Washington as a tariff fight escalates, President Xi Jinping and his economy czar visited a Chinese factory that processes rare earths - exotic minerals used in electric cars, mobile phones and other technology. Rare earths are "an important strategic...

European Central Bank holds out hope for growth rebound

May. 23, 2019 8:15 AM EDT

FRANKFURT, Germany (AP) — Top officials at the European Central Bank at their last meeting held on to their hopes for a return to stronger economic growth in the second half of the year even as they underlined their readiness to deploy more stimulus if needed. The written account of the April 10 meeting,...

China says door open to trade talks, but slams tech controls

May. 23, 2019 7:56 AM EDT

BEIJING (AP) — China held the door open to resuming talks in the tariff war with Washington on Thursday, but lashed out at limits on access to key technologies that it said might hurt global supply chains. Foreign Ministry spokesman Lu Kang said China hopes to restart the talks that broke down earlier this...

Germany's Bosch fined $100 million over diesel scandal

May. 23, 2019 7:28 AM EDT

BERLIN (AP) — German prosecutors have fined auto parts and technology company Bosch 90 million euros ($100 million) over its role in the diesel emissions scandal that erupted at Volkswagen in 2015. Prosecutors in Stuttgart said Thursday that the company, formally called Robert Bosch GmbH, was fined for a...

For Gaza grooms, crippling debt overshadows marital bliss

May. 23, 2019 7:26 AM EDT

GAZA CITY, Gaza Strip (AP) — Two years ago, Gaza resident Saleh Abu Serdanah took out a small loan in order to get married and start a family. These days, the 31-year-old construction worker is on the run, hiding from police in a tiny rental apartment and unable to repay the money he borrowed. Abu Serdanah...

World shares sink as US-China spat takes center stage

May. 23, 2019 7:20 AM EDT

SINGAPORE (AP) — World stock markets fell sharply Thursday as traders focused on tensions between the U.S. and China and braced for the impact of their tariff hikes. Private surveys, meanwhile, showed continued weakness in the eurozone economy in May, with a slowdown in manufacturing and services. France's...

Deutsche Bank ready for 'tough cuts' as share price sags

May. 23, 2019 7:04 AM EDT

FRANKFURT, Germany (AP) — The CEO of Deutsche Bank says he is ready to make "tough cuts" to improve the struggling bank's profitability and raise a "disappointing" share price as negative headlines continue to plague Germany's biggest bank. Christian Sewing made the remarks Thursday in front of restive...

India's ruling party claims win with assured lead in votes

May. 23, 2019 6:38 AM EDT

NEW DELHI (AP) — Indian Prime Minister Narendra Modi's party claimed it had won reelection with a commanding lead in Thursday's vote count, while the stock market soared in anticipation of another five-year term for the pro-business Hindu nationalist leader. Election Commission data by midafternoon showed...

Corrective: Sweden-Burger King 1st Ld-Writethru story

May. 23, 2019 6:14 AM EDT

COPENHAGEN, Denmark (AP) — In a story May 21 about a new Burger King product in Sweden, The Associated Press did not make clear that it was made using different methods from the Impossible Whopper available in the United States. The Swedish product is made with different ingredients. A corrected version of...