Latest Business News

Iran accuses Israel of sabotage attack that saw explosions strike a natural gas pipeline

Feb. 21, 2024 10:05 AM EST

DUBAI, United Arab Emirates (AP) — An Israeli sabotage attack on an Iranian natural gas pipeline last week caused multiple explosions on the line, Iran's oil minister alleged Wednesday, further raising tensions between the regional archenemies against the backdrop of Israel's war on Hamas in the...

Germany says Europe's largest economy is in 'troubled waters' and cuts its growth forecast

Feb. 21, 2024 10:02 AM EST

FRANKFURT, Germany (AP) — The German government said Europe's largest economy was in “troubled waters” and slashed its growth forecast for this year as it struggles with a lack of skilled labor, excessive bureaucracy, high interest rates and lagging investment in new projects — while a...

EU agrees on new sanctions against Russia days before the second anniversary of the war in Ukraine

Feb. 21, 2024 09:45 AM EST

BRUSSELS (AP) — European Union countries on Wednesday agreed on a new package of sanctions against Russia to target individuals and businesses suspected of assisting Moscow in its war against Ukraine, including Chinese companies. The decision coincides with the second anniversary...

Stock market today: More weakness in technology companies pulls Wall Street lower

Feb. 21, 2024 09:39 AM EST

NEW YORK (AP) — Stocks are opening lower on Wall Street as weakness in technology companies continues to drag on the market. The S&P 500 was off 0.3% in the early going Wednesday. The tech-heavy Nasdaq gave up 0.5% and the Dow Jones Industrial Average slipped 153 points, or 0.4%. Palo Alto...

Can a healthier plant-based burger combat falling US sales? Beyond Meat hopes so

Feb. 21, 2024 09:38 AM EST

Beyond Meat is revamping its signature plant-based burger, hoping that healthier ingredients will help it boost flagging U.S. sales. The El Segundo, California-based company said Wednesday its new Beyond Burger patties and Beyond Beef grounds cut saturated fat by 60% by switching...

Somalia announces deal with Turkey to deter Ethiopia's access to sea through a breakaway region

Feb. 21, 2024 09:34 AM EST

MOGADISHU, Somalia (AP) — Somalia announced on Wednesday a defense deal with Turkey that includes support for the Horn of Africa nation's sea assets and appears aimed at deterring Ethiopia's efforts to secure access to the sea by way of the breakaway region of Somaliland. Ethiopia...

StealthGas: Q4 Earnings Snapshot

Feb. 21, 2024 09:31 AM EST

ATHENS, Greece (AP) — ATHENS, Greece (AP) — StealthGas Inc. (GASS) on Wednesday reported earnings of $8.9 million in its fourth quarter. The Athens, Greece-based company said it had profit of 25 cents per share. Earnings, adjusted for non-recurring costs, were 29 cents per share....

A young man dies as clashes erupt between police and protesting farmers trying to reach New Delhi

Feb. 21, 2024 09:27 AM EST

SHAMBHU, India (AP) — A protester died on Wednesday as thousands of Indian farmers resumed their march to the capital after talks with the government failed to end an impasse over their demands for guaranteed crop prices. The farmers began their protest march last week but were...

UFP: Q4 Earnings Snapshot

Feb. 21, 2024 09:23 AM EST

NEWBURYPORT, Mass. (AP) — NEWBURYPORT, Mass. (AP) — UFP Technologies Inc. (UFPT) on Wednesday reported net income of $11.6 million in its fourth quarter. On a per-share basis, the Newburyport, Massachusetts-based company said it had net income of $1.51. Earnings, adjusted for...

White House wades into debate on 'open' versus 'closed' artificial intelligence systems

Feb. 21, 2024 09:20 AM EST

The Biden administration is wading into a contentious debate about whether the most powerful artificial intelligence systems should be “open-source” or closed. The White House said Wednesday it is seeking public comment on the risks and benefits of having an AI system's key...