Latest Business News

5 women, immense power: Can they keep US from fiscal brink?

Jan. 27, 2023 11:27 AM EST

WASHINGTON (AP) — They are now among the most powerful women in Congress. But when they were first elected in the 1990s, they were often overlooked, or even talked down to. Rep. Kay Granger, R-Texas, remembers that men would avoid asking her questions, addressing other men in the...

Lawsuits in NC plane crash that killed 8 settled for $15M

Jan. 27, 2023 12:00 PM EST

The families of five passengers killed in a 2022 plane crash off the North Carolina coast have settled wrongful death lawsuits against the companies that owned the plane and employed the pilot and the pilot's estate for $15 million, family representatives announced Friday. All eight...

US inflation and consumer spending cooled in December

Jan. 27, 2023 11:32 AM EST

WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices...

Debt limit trigger aimed at consumer utility meets threshold

Jan. 27, 2023 11:22 AM EST

PORTLAND, Maine (AP) — A proposal aimed at restricting long-term debt necessary to create a consumer-owned electric utility has enough signatures to appear on the November ballot in Maine. The secretary of state confirmed Thursday that the threshold was met for the Central Maine...

Filipino workers: Oil company abandoned us in Hurricane Ida

Jan. 27, 2023 10:29 AM EST

NEW ORLEANS (AP) — As Hurricane Ida struck the Louisiana Gulf Coast in August 2021, Renato Decena and Rosel Hernandez watched the storm punch a hole in the roof of the bunkhouse where they were sheltered — abandoned, they allege, by their offshore oil industry employer as the hurricane bore...

Stocks drift as strong week for Wall Street heads for close

Jan. 27, 2023 10:23 AM EST

NEW YORK (AP) — Stocks are drifting Friday as a strong week for Wall Street appears to be heading for a quiet close. The S&P 500 was 0.3% higher in early trading, on pace for its third winning week in the last four and close to its highest level since early December. The Dow...

AmEx profits fall 9% as customers fall behind on payments

Jan. 27, 2023 10:15 AM EST

NEW YORK (AP) — American Express saw its fourth-quarter profits fall by 9%, as the credit card giant had to set aside significantly more money to cover potentially bad loans. The company saw charge offs and delinquencies rise, a troubling sign for a company whose customer base is usually...

Norway's last Arctic miners struggle with coal mine's end

Jan. 27, 2023 10:00 AM EST

ADVENTDALEN, Norway (AP) — Kneeling by his crew as they drilled steel bolts into the low roof of a tunnel miles-deep into an Arctic mountain, Geir Strand reflected on the impact of their coal mine’s impending closure. “It’s true coal is polluting, but … they should have a...

AG says company fined for threatening negative reviewers

Jan. 27, 2023 09:58 AM EST

AUGUSTA, Maine (AP) — A moving and storage company in Maine has agreed to pay a $125,000 fine and refrain from using a misleading email address to threaten customers who leave negative reviews, according to the state attorney general's office. The attorney general's office said...

Ford recalls nearly 383K SUVs to fix backup camera problem

Jan. 27, 2023 09:54 AM EST

DETROIT (AP) — Ford is recalling nearly 383,000 SUVs in the U.S. because the touch screens may not display a camera image when backing up. The recall covers certain 2020 to 2023 Ford Explorers and Lincoln Aviators, and some 2020 to 2022 Lincoln Corsairs. All are equipped with...