Latest Business News

Stock market today: Most of Wall Street rises, but Nvidia tumbles again as AI mania cools

Jun. 24, 2024 16:29 PM EDT

NEW YORK (AP) — Another slide for Wall Street heavyweight Nvidia kept U.S. indexes mixed Monday, even as the majority of stocks rallied. The S&P 500 slipped 0.3% to pull further from its record set last week. The drops for Nvidia and other winners of Wall Street’s...

Puerto Rico power company suspends $65M worth of maintenance projects, sparking outcry amid outages

Jun. 24, 2024 16:26 PM EDT

SAN JUAN, Puerto Rico (AP) — The private operator of Puerto Rico’s power grid confirmed Monday the deferral of $65 million worth of maintenance and improvement projects in the U.S. territory, with some repairs postponed for at least a year because of budget constraints, putting at risk the...

How major US stock indexes fared Monday, 6/24/2024

Jun. 24, 2024 16:22 PM EDT

Another slide for Wall Street heavyweight Nvidia kept U.S. indexes mixed, even as the majority of stocks rallied. The S&P 500 slipped 0.3% Monday. The Dow Jones Industrial Average rose 0.7%, and the Nasdaq composite fell 1.1%. Stocks of oil-and-gas and financial...

Ed Policy to take over as Packers president and CEO after Mark Murphy's retirement next summer

Jun. 24, 2024 16:15 PM EDT

GREEN BAY, Wis. (AP) — Green Bay Packers chief operating officer and general counsel Ed Policy will take over as the team’s president and CEO next year following the retirement of Mark Murphy. Policy, the son of former San Francisco 49ers and Cleveland Browns president Carmen...

RXO, Alnylam Pharmaceuticals rise; ResMed, Sonoco Products fall, Monday, 6/24/2024

Jun. 24, 2024 16:14 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Monday: RXO Inc., up $4.64 to $24.85. The transportation services provider is buying UPS' freight-brokerage business for just over $1 billion. Walt Disney Co., down 29...

Officials announce two new carbon removal sites in northwest Louisiana

Jun. 24, 2024 16:10 PM EDT

BATON ROUGE, La. (AP) — In an effort to reduce greenhouse gas emissions, Louisiana officials announced on Monday two new projects that are expected to remove hundreds of thousands of tons of carbon dioxide from the air per year and store it deep underground. The new sites...

Yellen announces efforts to boost the housing supply as high prices create a crunch

Jun. 24, 2024 15:56 PM EDT

WASHINGTON (AP) — The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years. Treasury Secretary...

Music record labels sue AI song-generators Suno and Udio for copyright infringement

Jun. 24, 2024 15:45 PM EDT

BOSTON (AP) — Big record companies are suing artificial intelligence song-generators Suno and Udio for copyright infringement, alleging that the AI music startups are exploiting the recorded works of artists from Chuck Berry to Mariah Carey. The Recording Industry Association of...

Apple becomes first target of EU's new digital competition rules aimed at big tech

Jun. 24, 2024 15:42 PM EDT

LONDON (AP) — European Union regulators on Monday leveled their first charges under the bloc’s new digital competition rulebook, accusing Apple of preventing app makers from pointing users to cheaper options outside its App Store. The European Commission said that according to...

Closing prices for crude oil, gold and other commodities

Jun. 24, 2024 15:24 PM EDT

Benchmark U.S. crude oil for August delivery rose 90 cents to $81.63 per barrel Monday. Brent crude for August delivery rose 77 cents to $86.01 per barrel. Wholesale gasoline for July delivery was unchanged at $2.51 a gallon. July heating oil rose 3 cents to $2.53 a gallon. July...