Latest Business News

US stock indexes are mixed as retailers, homebuilders slide

Nov. 15, 2018 12:27 PM EST

U.S. stocks indexes were mixed in midday trading Thursday as losses among retailers, homebuilders and utilities outweighed gains in technology companies and banks. Energy stocks rose along with crude oil. European indexes finished mostly lower as the British pound slumped amid discord over a new deal for...

Argentine Senate approves austerity budget for IMF deal

Nov. 15, 2018 12:21 PM EST

BUENOS AIRES, Argentina (AP) — Argentine lawmakers approved an austerity budget for 2019 on Thursday, cutting social spending and raising debt payments to meet conditions for expanded financing from the International Monetary Fund. The budget approved Thursday by the Senate projects a 0.5 percent slide in...

The Latest: France prepared for Brexit no-deal

Nov. 15, 2018 12:17 PM EST

LONDON (AP) — The Latest on Britain's departure from the European Union (all times local): French Prime Minister Edouard Philippe says France is getting prepared for a Brexit no-deal scenario even if the government still hopes a Brexit agreement will be reached between the European Union and Britain....

The Brexit story so far: How Britain got itself in a bind

Nov. 15, 2018 12:09 PM EST

LONDON (AP) — Britain's 2-day-old draft deal to leave the European Union is in danger of collapsing, increasing the likelihood of a disorderly, economically painful exit from the bloc next year. British politicians in favor of leaving the EU have criticized the agreement reached Tuesday after more than a...

Markets Right Now: US stocks struggle higher at midday

Nov. 15, 2018 12:00 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Stocks erased early losses and were slightly higher in midday trading on Wall Street after the technology sector turned higher. The modest gains Thursday, if they hold, would end a five-day losing streak. Power...

US average mortgage rates flat to higher; 30-year 4.94 pct.

Nov. 15, 2018 11:42 AM EST

WASHINGTON (AP) — U.S. long-term mortgage rates were steady to slightly up this week, at their highest levels in nearly eight years and dampening home sales. Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage was unchanged from last week at 4.94 percent. That's the...

IMF executive board will meet in 'coming weeks' on Venezuela

Nov. 15, 2018 11:42 AM EST

WASHINGTON (AP) — The International Monetary Fund said Thursday its executive board will meet in the "coming weeks" to discuss the failure of the Venezuelan government to provide updated figures on its troubled economy. Spokesman Gerry Rice told reporters that IMF officials have held recent conversation...

Morocco unveils Africa's first ever high speed train line

Nov. 15, 2018 11:42 AM EST

RABAT, Morocco (AP) — French President Emmanuel Macron and Morocco's King Mohammed VI have inaugurated Morocco's first high-speed rail line, the first ever such line in Africa. Known as the LGV, it will connect the economic hubs of Tangier and Casablanca in 2 hours 10 minutes at a speed of up to 320 kph...

UK's May battles to save her Brexit deal and her job

Nov. 15, 2018 11:28 AM EST

LONDON (AP) — British Prime Minister Theresa May was battling Thursday to save both her Brexit deal and her job, as ministers quit her government and a growing list of lawmakers demanded her ouster over the divorce agreement struck between Britain and the European Union. Less than a day after May won her...

Walmart flexes its muscle against Amazon

Nov. 15, 2018 11:26 AM EST

NEW YORK (AP) — Walmart, armed with grocery and other online services, is proving it can do battle with Amazon. The world's largest retailer delivered strong third-quarter results Thursday, extending a streak of sales growth into its 11th straight quarter that showed it's pulling shoppers online and in the...