Latest Business News
Asian shares higher after selloffs spurred by Chinese virus
Shares mostly rose in early Asian trading on Wednesday after a slide in U.S. stocks overnight as a virus outbreak in China rattled global markets. Japan's Nikkei 225 index climbed 0.6% to 24,013.15 and the Kospi in South Korea surged 0.8% to 2,256.95. In Hong Kong, the Hang Seng jumped 0.8% to 28,216.78. The...
GM's Cruise heads down new road with new robotaxi concept
SAN FRANCISCO (AP) — General Motors' self-driving car company will attempt to deliver on its long-running promise to provide a more environmentally friendly ride-hailing service in an unorthodox vehicle designed to eliminate the need for human operators to transport people around crowded cities. The...
UN report: 70% of world lives where inequality has grown
UNITED NATIONS (AP) — More than 70% of the world’s people live in countries where inequality has grown since 1990, including China and India, and growing inequalities are benefiting the wealthiest, a U.N. report said Tuesday. But increasing inequality is not a universal trend, the World Social...
Air bag woes force Honda, Toyota to recall 6M vehicles
DETROIT (AP) — Two different air bag glitches have forced Toyota and Honda to recall over 6 million vehicles worldwide, and both problems present different dangers to motorists. The Toyota recall affects about 3.4 million vehicles globally and is being done because the air bags may not inflate in a crash....
Former Colorado ski company executive gets 6 years for theft
ASPEN, Colo. (AP) — A judge has sentenced a former Colorado ski company executive to six years in prison for stealing equipment and merchandise from the company and reselling the gear online for more than a decade. Former Aspen Skiing Company executive Derek Johnson was sentenced Tuesday with credit for...
Netflix holds its own in the streaming wars - for now
SAN FRANCISCO (AP) — Netflix is holding its ground in the streaming wars, passing its first big test since Apple and Disney launched rival services. The company added 8.8 million worldwide subscribers during its fourth quarter, surpassing expectations at a time when it faces heated competition. Netflix had...
Airline, hotel stocks fall on fear about new virus in China
Airline and hotel shares fell Tuesday as fear grew about a virus that authorities say has killed six people and sickened 300 more, including at least one person in the U.S. The outbreak of the new type of coronavirus is believed to have started in Wuhan in central China. No U.S. airlines fly to Wuhan, but their...
UK lays out tough child data privacy rules
LONDON (AP) — Social media sites, games and other online services won’t be allowed to “nudge” British kids into revealing personal details or lowering their privacy settings, under tough new rules drawn up by the country’s privacy regulator. The set of standards aimed at...
New Jersey taxpayers have $8M tab for tax break task force
TRENTON, N.J. (AP) — The taxpayer tab for Gov. Phil Murphy's task force investigating corporate tax breaks has reached $8 million, according to invoices obtained by The Associated Press. Murphy, a Democrat, set up the task force last year after two state reports raised concerns about how business tax...
United Airlines boosts profit on more revenue, cheaper fuel
United Airlines reported Tuesday that higher revenue and cheaper fuel helped boost its fourth-quarter profit by nearly 40%, to $641 million. The airline's forecast of first-quarter earnings easily beat Wall Street expectations. It is not all clear sailing for United, however. The financial report came the same...
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