Latest Business News

EU lawmakers miffed over new Facebook snub

Jun. 22, 2018 6:44 AM EDT

BRUSSELS (AP) — European Union lawmakers are unhappy that Facebook is refusing to comply with their request to send two senior officials to testify at a hearing into the Cambridge Analytica data scandal. The EU parliament's Civil Liberties Committee wants to question Facebook's chief privacy officer and...

OPEC discussing oil production increase to ease energy costs

Jun. 22, 2018 6:42 AM EDT

VIENNA (AP) — The countries of the OPEC oil cartel will discuss increasing their production by about 1 million barrels a day at a meeting Friday that could influence the cost of energy globally in coming months. The group's largest producer, Saudi Arabia, is seen to be open to higher production but Iran...

The Latest: Iran says OPEC won't take direction from Trump

Jun. 22, 2018 6:20 AM EDT

VIENNA (AP) — The Latest on the OPEC meeting on oil production (all times local): 12:20 p.m. Iran's oil minister is insisting that OPEC's place is not to take instructions from U.S. President Donald Trump but is leaving open Tehran's position on an increase in production. The cartel's largest producer,...

Greek financial markets rally on deal paving to bailout exit

Jun. 22, 2018 6:16 AM EDT

ATHENS, Greece (AP) — Greece's financial markets rallied Friday on news that the country's creditors have agreed to debt relief measures that pave the way for an end to the nation's eight-year bailout program in two months. Bond markets rose, leading to a drop in the government's borrowing rates. The yield...

Airbus threatens to leave Britain in case of no-deal Brexit

Jun. 22, 2018 5:59 AM EDT

LONDON (AP) — Aviation giant Airbus is threatening to leave Britain if the country leaves the European Union without an agreement on future trading relations — a warning that caused alarm Friday among business leaders concerned about the pace of discussions ahead of next year's exit. The company,...

Global stocks mixed as trade disputes worry investors

Jun. 22, 2018 5:57 AM EDT

SEOUL, South Korea (AP) — Global stocks were mixed Friday as investors remained wary over trade disputes between China and the U.S. as well as between the U.S. and Europe that could hurt corporate profits and jobs. Some markets rebounded slightly but were unable to recoup their heavy losses for the week....

EU retaliatory tariffs on raft of US goods go into force

Jun. 22, 2018 5:49 AM EDT

BRUSSELS (AP) — The European Union is enforcing tariffs on $3.4 billion in U.S. products as of Friday in retaliation to duties the Trump administration has put on European steel and aluminum. The goods targeted include typical American products like bourbon, peanut butter, and orange juice, in a way that...

Malaysia names new central bank governor

Jun. 22, 2018 5:39 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysia has named Nor Shamsiah Mohamad Yunus, an experienced former central bank official, as the new central bank governor. Finance Minister Lim Guan Eng said Friday that the king has consented to Nor Shamsiah's appointment to head Bank Negara Malaysia from July 1 for a...

The Latest: German business warns UK risks disorderly Brexit

Jun. 22, 2018 5:00 AM EDT

LONDON (AP) — The Latest on businesses warning about Brexit's fallout (all times local): 10:00 a.m. Germany's main business lobby group is warning that Britain is on course for a "disorderly Brexit" and urging its government to stop playing for time. Joachim Lang, the director general of the Federation of...

What's that extra in my online cart? Soon, maybe a sales tax

Jun. 22, 2018 3:05 AM EDT

NEW YORK (AP) — Attention shoppers: You may soon be paying more taxes on what you put in your online cart. The Supreme Court ruled Thursday that states can require online retailers to collect sales tax on purchases that come from states where they don't have any shops, offices or warehouses. Before that,...