Latest Business News

British Lawmaker Priti Patel, the Home Secretary leaves 10 Downing Street in London, Thursday, Feb. 13, 2020. British Prime Minister Boris Johnson shook up his government on Thursday, firing and appointing ministers to key Cabinet posts. Johnson was aiming to tighten his grip on government after winning a big parliamentary majority in December's election. That victory allowed Johnson to take Britain out of the European Union in January. (AP Photo/Matt Dunham)

UK unveils immigration overhaul for 2021 focused on skills

Feb. 18, 2020 5:37 PM EST

LONDON (AP) — Britain announced new post-Brexit immigration rules Tuesday that will make it tougher for European Union citizens, but easier for people from many other nations, to move to the U.K. starting next year. Prime Minister Boris Johnson's Conservative government said the new rules would...

Traders Timothy Nick, left, and Peter Tuchman work on the floor of the New York Stock Exchange, Tuesday, Feb. 18, 2020. Stocks are opening lower on Wall Street after Apple said it would fail to meet its revenue forecast for the current quarter due to the impact of the virus outbreak in China. (AP Photo/Richard Drew)

Stocks fall on Apple revenue warning; Dow drops 165

Feb. 18, 2020 5:12 PM EST

U.S. stock indexes closed with mostly modest losses Tuesday as the market gave up some of its solid gains from the past two weeks. Banks and technology stocks accounted for most of the decline. The Nasdaq eked out a tiny gain that was good enough to nudge it to another record high. The selling, which lost some of...

FILE - In this Feb. 11, 2020, file photo a Pacific Gas & Electric truck leaves the company's Oakland Service Center in Oakland, Calif. Pacific Gas and Electric said Tuesday, Feb. 18, that it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. (AP Photo/Ben Margot, File)

PG&E banking on big profits after utility leaves bankruptcy

Feb. 18, 2020 5:11 PM EST

SAN FRANCISCO (AP) — Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. The nation's largest utility shared its rosy outlook on...

Apple, Fluor fall; Franklin Resources, Advance Auto rise

Feb. 18, 2020 4:53 PM EST

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Tuesday: Apple Inc., down $5.95 to $319 The technology company said revenue will fall short of forecasts for the March quarter because of the viral outbreak in China. Franklin Resources Inc., up $1.69 to $26.05 The financial services...

Texas co. to pay $2.4M penalty for ND oil terminal violation

Feb. 18, 2020 4:32 PM EST

BISMARCK, N.D. (AP) — A Texas company and its subsidiaries will pay a $2.4 million penalty to resolve alleged violations of the Clean Air Act for a crude oil transloading facility the companies formerly owned and operated on the Fort Berthold Indian Reservation in North Dakota, the U.S. Environmental...

Wendy's to pay $400K to resolve child labor law allegations

Feb. 18, 2020 4:22 PM EST

BOSTON (AP) — Fast-food chain Wendy's has agreed to pay $400,000 to resolve allegations that it violated child labor laws by having teenage employees at dozens of Massachusetts restaurants work later and longer than allowed, the state attorney general's office announced Tuesday. “We are committed to...

Judge hears arguments in Jill Stein's voting machine lawsuit

Feb. 18, 2020 4:09 PM EST

PHILADELPHIA (AP) — Pennsylvania's top elections official spent hours in federal court Tuesday, defending the certification of voting machines being used by Philadelphia and two other Pennsylvania counties, including one where problems led to undercounted returns in a race in November. The hearing in...

FILE - In this Jan. 29, 2020, file photo, Tony Bonczewski repairs a heel on a customer's shoe at his cobbler shop in Wilkes-Barre, Pa. Small business owners have received some upbeat news on the economy this month. Retail sales figures released Friday showed that consumers were inspired by unseasonably warm weather to spend on their homes in January, but that overall sales growth was modest. (Aimee Dilger/The Times Leader via AP, File)

US small businesses are getting upbeat news on the economy

Feb. 18, 2020 3:29 PM EST

Small business owners have received some upbeat news on the economy this month. Retail sales figures released Friday showed that consumers were inspired by unseasonably warm weather to spend on their homes in January, but that overall sales growth was modest. The Commerce Department reported a 0.3% gain last...

President Donald Trump speaks with reporters as he boards Air Force One as he departs Tuesday, Feb. 18, 2020, at Andrews Air Force Base, Md.(AP Photo/Alex Brandon)

Trump opposes possible ban on sale of jet engines to China

Feb. 18, 2020 3:05 PM EST

WASHINGTON (AP) — President Donald Trump signaled Tuesday via Twitter that he opposes efforts to block the sale of jet engines to China. Trump's tweets appeared intended to thwart a proposal from within his own administration to limit exports of engines jointly produced by General Electric and a French...

FILE - This June 25, 2019, file photo shows the entrance to a Walmart in Pittsburgh. Walmart is reporting  disappointing fourth-quarter profits and sales. The nation's largest retailer says that sales at its U.S. stores heading into the holiday season were weaker than expected. It also said that social unrest in Chile hurt its business. (AP Photo/Gene J. Puskar, File)

A rare miss for Walmart to end the year

Feb. 18, 2020 2:58 PM EST

NEW YORK (AP) — Walmart reported disappointing fourth-quarter profits and sales after a sluggish and shortened holiday shopping season. Violent social protests in Chile, where there are hundreds of Walmart stores, cut into international sales. Walmart also delivered a weak profit forecast for the year and...