Latest Business News

Germany, EU launch talks on Russia-Ukraine gas transit

Jul. 17, 2018 9:26 AM EDT

BERLIN (AP) — Germany is hosting European Union-brokered talks between Moscow and Kiev on the future transit of Russian gas through Ukraine after the current contract expires next year. German Economy Minister Peter Altmaier met Tuesday with Russia's energy minister, Ukraine's foreign minister and European...

US industrial production rebounds 0.6 percent in June

Jul. 17, 2018 9:19 AM EDT

WASHINGTON (AP) — U.S. industrial production rebounded last month after being dragged down in May by a fire at an auto parts plant. The Federal Reserve said Tuesday that industrial production — which includes output at factories, mines and utilities — climbed 0.6 percent in June, recovering...

US industrial production rebounds in June, climbs 0.6 percent on faster factory output

Jul. 17, 2018 9:16 AM EDT
WASHINGTON (AP) — US industrial production rebounds in June, climbs 0.6 percent on faster factory output.

NE Indiana hot tub maker expanding, adding 100 new jobs

Jul. 17, 2018 9:14 AM EDT

FORT WAYNE, Ind. (AP) — A northeastern Indiana hot tub maker is planning a $15 million expansion that company officials say will create more than 100 new jobs. Master Spas announced Monday that it had acquired a 150,000-square-foot building adjacent to its Fort Wayne operations. The company plans to...

Goldman's Blankfein to retire as CEO, Solomon to take over

Jul. 17, 2018 9:13 AM EDT

NEW YORK (AP) — Goldman Sachs said Tuesday that Lloyd Blankfein, the firm's chief executive officer and chairman for the last 12 years, will retire later this year. Blankfeing will be replaced by David Solomon, a long-time Goldman executive who has long been seen as Blankfein's chosen successor to lead the...

Amazon workers strike in Europe to coincide with Prime Day

Jul. 17, 2018 9:06 AM EDT

MADRID (AP) — Amazon workers in Spain and Germany called for strikes Tuesday over salary and working conditions to coincide with the online retailer's global sales event, Prime Day. The CCOO and CGT workers' unions in Spain said that nearly 80 percent of the workers walked off their positions at Amazon's...

Defense contractor Raytheon reaffirms its commitment to UK

Jul. 17, 2018 8:58 AM EDT

LONDON (AP) — U.S.-based defense contractor Raytheon says it remains committed to Britain amid the political turmoil surrounding the country's departure from the European Union. John Harris, chief executive of Raytheon's international unit, told The Associated Press that the company, whose U.K. roots go...

Amazon's hopes its Prime Day doesn't go to the dogs

Jul. 17, 2018 8:46 AM EDT

NEW YORK (AP) — Amazon is hoping customers don't see any more dogs, after early problems on Prime Day meant people trying to shop got only images of the cute canines delivering an apologetic message. Amazon's website ran into some early snags Monday on its much-hyped Prime Day, an embarrassment for the...

Goldman Sachs' 2Q profit up 44 pct; CEO Blankfein to retire

Jul. 17, 2018 8:42 AM EDT

NEW YORK (AP) — Goldman Sachs' profits jumped 44 percent in the second quarter compared with a year ago, driven by the investment bank's core franchises: advising companies on mergers, acquisitions and other deals, and its trading business. Goldman also said Tuesday that Chief Executive Officer Lloyd...

Johnson & Johnson beats revenue, profit projections for 2Q

Jul. 17, 2018 8:29 AM EDT

Fueled by a 20 percent sales jump in its prescription drugs business, Johnson & Johnson posted a 3 percent increase in second-quarter profit. Still, the world's biggest maker of health care products trimmed its forecast for 2018. J&J's prescription medicine business, which had lagged its medical device...