Latest Business News

China's stock watchdog fines property developer Evergrande, slaps lifetime ban on its chairman

Mar. 19, 2024 05:21 AM EDT

BANGKOK (AP) — Troubled property developer China Evergrande Group says Beijing’s stock watchdog has fined it 4.2 billion yuan ($333.4 million) for allegedly falsifying its revenue, among other violations, as it conducts a deep clean of the troubled financial sector. The company...

The average bonus on Wall Street last year was $176,500. That's down slightly from 2022

Mar. 19, 2024 05:09 AM EDT

NEW YORK (AP) — The average Wall Street bonus fell slightly last year to $176,500 as the industry added employees and took a “more cautious approach” to compensation, New York state’s comptroller reported Tuesday. The average bonus for employees in New York City’s...

Sex trade to slavery: a UN agency says criminals reap $236B a year in profits from forced labor

Mar. 19, 2024 04:52 AM EDT

GENEVA (AP) — Illegal profits from forced labor worldwide have risen to the “obscene” amount of $236 billion per year, the U.N. labor agency reported Tuesday, with sexual exploitation to blame for three-fourths of the take from a business that deprives migrants of money they can send home,...

The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

Mar. 19, 2024 03:20 AM EDT

TOKYO (AP) — Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's lending rate for overnight borrowing by banks was raised to a range of 0 to...

Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years

Mar. 19, 2024 03:07 AM EDT

BANGKOK (AP) — Shares were mixed in Asia on Tuesday after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy at odds with the stances of most central banks. In a widely anticipated move, the BOJ raised its...

Famine is said to be imminent in northern Gaza as Israel raids the main hospital again

Mar. 19, 2024 02:11 AM EDT

RAFAH, Gaza Strip (AP) — Famine is imminent in northern Gaza, where 70% of people are experiencing catastrophic hunger, according to a report Monday that warned escalation of the war could push half of Gaza's total population to the brink of starvation. The report, by the...

UnitedHealth says it has made progress on recovering from a massive cyberattack

Mar. 19, 2024 02:05 AM EDT

UnitedHealth is testing the last major system it must restore from last month’s Change Healthcare cyberattack, but it has no date yet for finishing the recovery. The health care giant said Monday that it is testing software for submitting medical claims. It already has largely...

Stock market today: Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years

Mar. 19, 2024 01:25 AM EDT

BANGKOK (AP) — Shares are mixed in Asia after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy. In a widely anticipated move, the BOJ raised its overnight call rate to a range of 0 to 0.1%, up from minus...

4 things to know from Elon Musk's interview with Don Lemon

Mar. 19, 2024 00:13 AM EDT

SAN FRANCISCO (AP) — Former CNN reporter Don Lemon mixed it up with Tesla CEO Elon Musk in an interview Lemon posted on Musk’s X social network Monday. The interview was supposed to kick off Lemon’s new talk show on X, formerly known as Twitter, at least until Musk canceled the show shortly...

Rules that helped set real estate agent commissions are changing. Here's what you need to know

Mar. 19, 2024 00:07 AM EDT

The cost of hiring a real estate agent to buy or sell a home may soon change, along with decades-old rules that have helped determine broker commissions. The policy changes could help spur price competition for agents' services and lower the cost for sellers who now typically cover...