Latest Business News

Trial opens in deadly collapse of Italy's Morandi Bridge

Jul. 07, 2022 06:22 AM EDT

GENOA, Italy (AP) — Fifty-nine people went on trial Thursday for the 2018 collapse of Genoa’s Morandi bridge, accused of manslaughter and other charges in the deaths of 43 people. The defendants include former executives and experts of the company that manages many of Italy’s...

From Brexit to Partygate, a timeline of Johnson's career

Jul. 07, 2022 06:02 AM EDT

LONDON (AP) — He was the mayor who basked in the glory of hosting the 2012 London Olympics, and the man who led the Conservatives to a thumping election victory on the back of his promise to “get Brexit done.” But Boris Johnson's time as prime minister was marred by his...

FAA to give airports $1 billion for terminals and upgrades

Jul. 07, 2022 05:49 AM EDT

WASHINGTON (AP) — The Biden administration is giving nearly $1 billion to 85 airports to expand and upgrade terminals and other facilities, using money approved in last year's huge infrastructure bill. Transportation Secretary Pete Buttigieg said the projects will help meet future...

Asian stocks higher after Fed says rate hikes may be needed

Jul. 07, 2022 01:17 AM EDT

BEIJING (AP) — Asian stock markets gained Thursday after the Federal Reserve said higher U.S. interest rates might be needed to cool inflation. Shanghai, Tokyo and Sydney advanced. Hong Kong declined. Oil prices edged higher after falling below $100 per barrel this week. ...

Dems want to tax high earners to protect Medicare solvency

Jul. 07, 2022 05:43 AM EDT

WASHINGTON (AP) — Senate Democrats want to boost taxes on some high earners and use the money to extend the solvency of Medicare, the latest step in the party's election-year attempt to craft a scaled-back version of the economic package that collapsed last year, Democratic aides told The...

Inflation pushed 71M people into poverty since Ukraine war

Jul. 07, 2022 04:58 AM EDT

DUBAI, United Arab Emirates (AP) — A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's invasion of Ukraine, the United Nations Development Program said in a report Thursday. ...

Germany seeks to kickstart expansion of renewable energy

Jul. 07, 2022 04:47 AM EDT

BERLIN (AP) — German lawmakers were poised Thursday to approve a major package of reforms aimed at boosting the production of renewable power, as Chancellor Olaf Scholz warned that the country has for too long relied on energy supplies from Russia. The government unveiled its...

I-64 bridge on schedule to open to traffic this fall in WVa

Jul. 07, 2022 04:21 AM EDT

CHARLESTON, W.Va. (AP) — Construction of a new bridge on Interstate 64 is on schedule to open to traffic this fall, the West Virginia Department of Transportation said. The 1,400-foot Donald M. Legg Memorial Bridge is part of a project to replace the current bridge over the Kanawha...

Hong Kong lifts flight ban citing 'little effect' on COVID

Jul. 07, 2022 02:55 AM EDT

HONG KONG (AP) — Hong Kong announced Thursday it is shelving a COVID-19 measure that has resulted in dozens of canceled flights in recent months and thwarted travel plans for thousands. Starting Thursday, the city will no longer ban arriving airline flights just because they'd...

Russia's war in Ukraine to overshadow G20 talks in Bali

Jul. 07, 2022 00:02 AM EDT

JAKARTA, Indonesia (AP) — Foreign ministers from the Group of 20 leading rich and developing nations are gathering in Indonesia’s resort island of Bali for talks bound to be dominated by the conflict in Ukraine despite an agenda focused on global cooperation and food and energy security. ...