Latest Business News

Fracking begins in UK for first time since 2011

Oct. 15, 2018 9:54 AM EDT

LONDON (AP) — Protesters have gathered near a shale gas exploration site in northwestern England, as fracking began in the U.K. for the first time since 2011. Hydraulic fracturing had been stalled in the country after two earthquakes in the same area led to legal challenges. Environmental campaigners...

Sears files for Chapter 11 amid plunging sales, massive debt

Oct. 15, 2018 9:45 AM EDT

NEW YORK (AP) — Sears filed for Chapter 11 bankruptcy protection Monday, buckling under its massive debt load and staggering losses. The question now is whether a smaller version of the company that once towered over the American retail landscape can remain viable or whether the iconic brand will be forced...

Markets Right Now: US stocks open lower, led by tech sector

Oct. 15, 2018 9:42 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. Stocks are opening mostly lower as technology companies continue to fall. Major U.S. indexes are coming off their worst week in six months. Texas Instruments fell 1.4 percent and Microsoft lost 0.8 percent Monday....

APNewsBreak: US eyes military bases for coal, gas exports

Oct. 15, 2018 9:32 AM EDT

BILLINGS, Mont. (AP) — The Trump administration is considering using West Coast military bases or other federal properties as transit points for shipments of U.S. coal and natural gas to Asia as officials seek to bolster the domestic energy industry and circumvent environmental opposition to fossil fuel...

Report: Bullying, harassment rife at UK Parliament

Oct. 15, 2018 9:31 AM EDT

LONDON (AP) — Britain's House of Commons is a sometimes dysfunctional workplace in which bullying and sexual harassment have long been "tolerated and concealed," an independent inquiry reported Monday. In a highly critical report , former High Court judge Laura Cox said a culture of "deference,...

The Latest: Hedge fund ESL backs Sears' bankruptcy move

Oct. 15, 2018 9:17 AM EDT

NEW YORK (AP) — The Latest on the filing for bankruptcy protection by the Sears Holding Corp. (all times local): 8:55 a.m. Hedge fund ESL says it stands by Sears' decision to file for Chapter 11 bankruptcy protection, though it would have preferred to avoid a court-run process. The hedge fund is run by now...

Trump administration eyes military bases, federal facilities for coal, gas exports after states block West Coast ports

Oct. 15, 2018 9:14 AM EDT
BILLINGS, Mont. (AP) — Trump administration eyes military bases, federal facilities for coal, gas exports after states block West Coast ports.

Iceland seeks financial crash closure with last prosecution

Oct. 15, 2018 9:10 AM EDT

REYKJAVIK, Iceland (AP) — The Lehman Brothers bankruptcy threw the United States into an epoch-defining financial storm. Imagine 300 of them going bust at once. That, in relative terms, is what Iceland endured a decade ago during its banking crisis, which on this rugged island steeped in myths of gods and...

Bank of America 3Q profits rise 32 percent, beats forecasts

Oct. 15, 2018 9:03 AM EDT

NEW YORK (AP) — Bank of America said Monday that its third-quarter profits rose by 32 percent from a year ago, as higher interest rates allowed BofA to charge more for loans, and lower corporate tax rates helped it save hundreds of millions on taxes. The Charlotte, North Carolina-based banking giant said...

US retail sales gain a weak 0.1 percent in August

Oct. 15, 2018 8:57 AM EDT

WASHINGTON (AP) — U.S. consumer spending edged up a slight 0.1 percent in September, a disappointing performance in which rebounding auto sales were offset by weakness in other areas. The Commerce Department said Monday that the scant gain in September followed an equally meager 0.1 percent increase in...