Latest Business News

Russia's war in Ukraine to overshadow G-20 talks in Bali

Jul. 07, 2022 10:47 AM EDT

JAKARTA, Indonesia (AP) — Foreign ministers from the Group of 20 leading rich and developing nations are gathering in Indonesia’s resort island of Bali for talks bound to be dominated by the conflict in Ukraine despite an agenda focused on global cooperation and food and energy security. ...

US stocks gain ground while bond market signals caution

Jul. 07, 2022 10:47 AM EDT

NEW YORK (AP) — Stocks rose broadly in early trading Thursday, putting major indexes on track for weekly gains. The S&P 500 rose 0.9% as of 10:19 a.m. Eastern. The Dow Jones Industrial Average rose 156 points, or 0.5%, to 31,189 and the Nasdaq rose 1.5%. ...

Wisconsin court sides with former PSC member in line dispute

Jul. 07, 2022 10:35 AM EDT

MADISON, Wis. (AP) — The Wisconsin Supreme Court's conservative majority on Thursday sided with a former member of the state Public Service Commission who did not want to turn over his cellphone in a fight over the approval of a new power line. Opponents argued that the evidence...

Mexico accuses ex-president of millions in illegal funds

Jul. 07, 2022 10:29 AM EDT

MEXICO CITY (AP) — Mexico’s anti-money laundering agency said Thursday it has accused ex-President Enrique Peña Nieto of handling millions of dollars in possibly illegal funds. It would mark the first formal legal accusations against Peña Nieto, despite a cloud of allegations...

Gas prices 'double-edged sword' hurts drivers, helps climate

Jul. 07, 2022 10:06 AM EDT

As Congress and now the Supreme Court stymie the Biden administration’s efforts to curb climate change, one thing the president doesn’t want - sky high gas prices - actually is nibbling away at emissions of heat-trapping gas. Gas prices in much of the United States shot past the...

One scandal too many: British PM Boris Johnson resigns

Jul. 07, 2022 10:20 AM EDT

LONDON (AP) — Prime Minister Boris Johnson announced his resignation Thursday amid a mass revolt by top members of his government, marking an end to three tumultuous years in power in which he brazenly bent and sometimes broke the rules of British politics. Months of defiance ended...

What's next for UK? Boris Johnson quits, but not gone yet

Jul. 07, 2022 09:44 AM EDT

LONDON (AP) — Boris Johnson has caved in to a Conservative Party revolt after months of ethics scandals and resigned as party leader, but he remains Britain’s prime minister — for now — while a successor is chosen. With British politics in turmoil, here’s a look at what...

German lawmakers back plan to expand renewable energy

Jul. 07, 2022 10:18 AM EDT

BERLIN (AP) — German lawmakers on Thursday approved a major package of reforms aimed at boosting the production of renewable power, as Chancellor Olaf Scholz warned that the country has for too long relied on energy supplies from Russia. The government unveiled its 600-page...

Retailers scale back hiring as worry about a slowdown grows

Jul. 07, 2022 10:14 AM EDT

NEW YORK (AP) — After going on a frenzied hiring spree for a year and a half to meet surging shopper demand, America's retailers are starting to temper their recruiting. The changing mindset comes as companies confront a pullback in consumer spending, the prospect of an economic...

Wall Street expects inflation squeeze on 2Q earnings

Jul. 07, 2022 10:01 AM EDT

NEW YORK (AP) — Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings. Wall Street already had expected relatively muted earnings growth in 2022 following a sharp recovery in...