Latest Business News

Congressional leaders make progress on debt, spending talks

May. 21, 2019 9:06 PM EDT

WASHINGTON (AP) — Top leaders of both parties in Congress made progress Tuesday on two must-do items on the legislative agenda: averting automatic budget cuts and meeting a deadline later this year to increase the government's borrowing limit. But after a flurry of optimism at midday, a deal proved elusive...

California governor forms group for homelessness solutions

May. 21, 2019 8:56 PM EDT

SACRAMENTO, Calif. (AP) — Gov. Gavin Newsom called growing homelessness in California a national disgrace as he announced Tuesday that he is launching a task force to find solutions amid a housing crisis in the most populous state. The Democratic governor said the state has lacked a strategy to curb...

Report: Many Uber, Lyft drivers fail to respond to recalls

May. 21, 2019 8:43 PM EDT

NEW YORK (AP) — One out of six Uber and Lyft drivers in the New York City and Seattle areas are driving vehicles with outstanding recalls, according to Consumer Reports. But taking a taxi or limousine isn't necessarily a safer option: nearly a quarter of traditional for-hire vehicles in New York City such...

Avenatti expects imminent indictment in Nike extortion case

May. 21, 2019 7:37 PM EDT

NEW YORK (AP) — Attorney Michael Avenatti said Tuesday he expects to be indicted in the coming days in New York, following his March arrest on charges he tried to extort millions of dollars from Nike. Avenatti posted a Twitter message saying he intends to fight the "legally baseless allegations" and vowed...

Correction: WHO Travel story

May. 21, 2019 7:33 PM EDT

LONDON (AP) — In a story May 20 about travel spending at the World Health Organization, The Associated Press reported erroneously that information about the organization's travel spending was obtained from internal documents. The information was made publicly available on WHO's website on May 9. A...

Nike cancels Puerto Rico-homage sneaker with Panama design

May. 21, 2019 7:27 PM EDT

PANAMA CITY (AP) — Nike said Tuesday it won't release a version of its Air Force 1 shoe meant to celebrate Puerto Rico, after an indigenous group in Panama objected to one of its traditional designs being used on the sneaker. The company said in a statement: "We apologize for the inaccurate representation...

California sues over $1B in canceled high-speed rail money

May. 21, 2019 7:18 PM EDT

SACRAMENTO, Calif. (AP) — California sued Tuesday to block the Trump administration from cancelling nearly $1 billion for the state's high-speed rail project, escalating the state's feud with the federal government. The Federal Railroad Administration announced last week it would not give California the...

Colorado won't halt drilling as it refocuses rules on safety

May. 21, 2019 7:16 PM EDT

DENVER (AP) — Colorado officials said Tuesday that they had no plans to stop energy companies from drilling for oil and gas while regulators overhaul state rules to make health, safety and the environment their top priority. Dan Gibbs, chief of the state Department of Natural Resources, said lawmakers did...

UN lowers global economic growth forecasts for 2019-2020

May. 21, 2019 6:53 PM EDT

UNITED NATIONS (AP) — The U.N. says it is lowering its forecasts for global economic growth in 2019 and 2020 as a result of high trade tensions, uncertainty over economic policies and softening business confidence. In its mid-year report Tuesday on economic prospects, the U.N. said that following an...

Washington is 1st state to allow composting of human bodies

May. 21, 2019 6:34 PM EDT

SEATTLE (AP) — Ashes to ashes, guts to dirt. Gov. Jay Inslee signed legislation Tuesday making Washington the first state to approve composting as an alternative to burying or cremating human remains. It allows licensed facilities to offer "natural organic reduction," which turns a body, mixed with...