Latest Business News

AP FACT CHECK: Trump's false claims on fuel economy rules

Aug. 21, 2019 5:25 PM EDT

DETROIT (AP) — President Donald Trump is misrepresenting the facts about his proposal to freeze Obama-era fuel economy requirements at 2021 levels. In a tweet Wednesday, Trump blasted auto executives as "foolish" and accused the companies of being "politically correct" for resisting the plan, which two of...

Construction workers more prone to fatal opioid overdoses

Aug. 21, 2019 5:22 PM EDT

PROVIDENCE, R.I. (AP) — State data shows that construction workers in Rhode Island are more prone to fatal opioid overdoses. The Providence Journal reports that Overdose Prevention and Intervention Task Force data shows a quarter of the 569 overdose deaths between 2016 and 2018 came from fields that...

Judge tells jail to improve conditions for Epstein cellmate

Aug. 21, 2019 5:22 PM EDT

WHITE PLAINS, N.Y. (AP) — A judge ordered a federal jail on Wednesday to improve housing conditions for one of Jeffrey Epstein's former cellmates. Nicholas Tartaglione, a former police officer awaiting trial in a quadruple murder case, was sharing a cell with Epstein at the Metropolitan Correctional Center...

Trump signs student debt forgiveness for disabled veterans

Aug. 21, 2019 5:15 PM EDT

LOUISVILLE, Ky. (AP) — Hundreds of millions of dollars in federal student loan debt owed by tens of thousands of disabled military veterans will be erased under a directive President Donald Trump signed Wednesday. Trump ordered the Education Department to "eliminate every penny of federal student loan...

State officials sue EPA, seeking more Hudson River cleanup

Aug. 21, 2019 5:13 PM EDT

ALBANY, N.Y. (AP) — New York officials who are pushing for additional cleanup of the Hudson River followed through Wednesday on their promise of a lawsuit against the U.S. Environmental Protection Agency. The federal lawsuit seeks to vacate the EPA's decision in April not to compel General Electric Co. to...

How major US stock indexes fared Wednesday

Aug. 21, 2019 5:13 PM EDT

Stocks closed higher on Wall Street Wednesday as investors applauded encouraging quarterly results from Target, Lowe's and other retailers. Technology companies accounted for a big share of the gains. Traders had a muted reaction to minutes from the Federal Reserve's policy meeting last month, which showed...

US stocks climb after major US retailers post solid earnings

Aug. 21, 2019 5:11 PM EDT

Strong earnings reports from several big retailers helped drive stocks broadly higher on Wall Street Wednesday as the market bounced back from its first loss in four days. Target notched its biggest-ever gain, while Lowe's had its best day in more than a year, leading a broad rally in companies that rely on...

Gulf of Mexico oil, gas lease bidding down from last 2 sales

Aug. 21, 2019 5:04 PM EDT

NEW ORLEANS (AP) — Oil and gas companies made $159.4 million in high bids Wednesday for federal leases in the Gulf of Mexico, down from sales in March and a year ago. The Bureau of Ocean Energy Management says 29 companies bid on 144 tracts. That's about 1% of the tracts offered. The March sale drew $244.3...

$248 million settlement reached with Chinese drywall maker

Aug. 21, 2019 5:00 PM EDT

NEW ORLEANS (AP) — A proposed $248 million settlement has been filed in a decade-old federal court case over defective Chinese drywall blamed for damaging home appliances and sickening residents. The proposed settlement between property owners and Taishan Gypsum Co. was filed in U.S. District Court in New...

Economic twilight zone: Bonds that charge you for lending

Aug. 21, 2019 4:56 PM EDT

FRANKFURT, Germany (AP) — Imagine lending money to someone and having to pay for the privilege of doing so. Or being asked to invest and informed of how much money you'll lose. Sounds absurd, but increasingly that's the global bond market these days. A rising share of government and corporate bonds are...