Latest Business News

On the road to make an affordable car, Tesla cuts jobs

Jan. 18, 2019 9:47 AM EST

Tesla will cut 7 percent of its workforce as it tries to lower prices and break out of the niche-car market to produce an electric vehicle that more people can afford. Tesla's cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to survive. "Looking ahead at our mission of...

US industrial production rose 0.3 percent in December

Jan. 18, 2019 9:31 AM EST

WASHINGTON (AP) — U.S. industrial production increased 0.3 percent in December, led by the biggest surge in manufacturing in ten months. The Federal Reserve says that that manufacturing output jumped 1.1 percent last month, the largest gain since February 2018. Automakers drove much of the growth with a...

Danish newspaper, chief editor fined for ex-spy boss book

Jan. 18, 2019 9:26 AM EST

COPENHAGEN, Denmark (AP) — A major Danish newspaper and its chief editor were fined 150,000 kroner ($22,900) on Friday for publishing a book based on interviews with Denmark's former domestic intelligence agency chief that the spy service had claimed could contain secrets. The Copenhagen City Court says...

US industrial production increased 0.3 percent in December, led by a surge in manufacturing

Jan. 18, 2019 9:20 AM EST
WASHINGTON (AP) — US industrial production increased 0.3 percent in December, led by a surge in manufacturing.

Union holds two-hour warning strike at Audi plant in Hungary

Jan. 18, 2019 8:59 AM EST

GYOR, Hungary (AP) — Some 4,000 workers held a warning strike at Audi's manufacturing plant in Hungary, demanding higher wages and other benefits from the German carmaker. Union leader Sandor Nemeth said that Friday's two-hour work stoppage was "exceptionally successful," proof that the workers support the...

Woman sues luxury resort after severe allergic reaction

Jan. 18, 2019 8:45 AM EST

SPRINGFIELD, Mass. (AP) — A luxury Massachusetts resort has been sued by a woman with a nut allergy who landed in the hospital after being served a veggie burger containing cashews. The Berkshire Eagle reports that the suit filed in federal court in Springfield this week against Canyon Ranch Wellness...

Perdue recalls chicken nuggets due to wood contamination

Jan. 18, 2019 8:22 AM EST

WASHINGTON (AP) — Perdue is recalling more than 68,000 pounds (30,844 kilograms) of chicken nuggets because they may be contaminated with wood. The gluten free Organics Breaded Chicken Breast Nuggets were produced on Oct. 25 and were sold at stores nationwide. They have a UPC bar code of 72745-80656 and...

Walmart, CVS Health hammer out new PBM pharmacy network deal

Jan. 18, 2019 8:11 AM EST

BENTONVILLE, Ark. (AP) — Walmart will continue to participate in CVS Health's prescription drug network for customers with private health insurance and Medicaid coverage Shares of CVS rose nearly 3 percent before the opening bell Friday. The stock had been under pressure since Tuesday, when it said it...

Operation begins to lift sunken containers off Dutch coast

Jan. 18, 2019 8:02 AM EST

THE HAGUE, Netherlands (AP) — A salvage operation to lift scores of shipping containers from the seabed off the northwestern coast of the Netherlands has begun more than two weeks after they tumbled off a cargo vessel in a storm. Security Region Friesland, the local authority that is coordinating the...

Michigan man known for farm's pit-spitting event dies at 88

Jan. 18, 2019 7:57 AM EST

EAU CLAIRE, Mich. (AP) — An agricultural tourism pioneer who founded a cherry pit-spitting competition that drew international competitors and attention to southwest Michigan has died at the age of 88. Herb Teichman launched the International Cherry Pit Spitting Championship in the 1970s as a lark, but...