Latest Business News

A woman passes by an advertisement of Samsung Electronics' Galaxy S21 Series smartphones at its shop in Seoul, South Korea, Thursday, Jan. 28, 2021. Samsung Electronics Co. said Thursday its operating profit for last quarter rose by more than 26% as it capped off a robust business year where its dual strength in parts and finished products allowed it to thrive amid the pandemic. (AP Photo/Ahn Young-joon)

Samsung reports profit jump driven by strong chip demand

Jan. 27, 2021 10:26 PM EST

SEOUL, South Korea (AP) — Samsung Electronics Co. said Thursday its operating profit for the last quarter rose by more than 26% as it capped off a robust business year where its dual strength in parts and finished products allowed it to thrive amid the pandemic. But the South Korean tech giant expects its...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.(AP Photo/Ahn Young-joon)

Asian shares drop after US stocks' worst day since October

Jan. 27, 2021 9:59 PM EST

TOKYO (AP) — Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. Benchmarks in Japan, South Korea, Australia and China declined Thursday. The region is looking ahead to earnings season for a...

Security patrol outside the Pullman Hotel in Auckland, New Zealand, July 6, 2020. Health officials in New Zealand say Monday, Jan. 25, 2021, that genome tests indicate the country's most recent COVID-19 patient contracted the virus from another returning traveler just before leaving quarantine. (Peter Meecham/New Zealand Herald via AP)

The Latest: More rules for returning New Zealand travelers

Jan. 27, 2021 9:58 PM EST

WELLINGTON, New Zealand — Travelers returning to New Zealand will face stricter rules at quarantine hotels as health authorities investigate how up to three people got infected with the coronavirus while isolating at Auckland’s Pullman Hotel. The people were released before testing positive and...

Regulator says Australia must address Google ad dominance

Jan. 27, 2021 9:47 PM EST

CANBERRA, Australia (AP) — A lack of competition for Google and a lack of transparency in the digital advertising supply chain needed to be addressed because they were impacting publishers, advertisers and consumers, Australia’s competition watchdog said on Thursday. The Australian Competition and...

FILE - In this Tuesday, Dec. 22, 2020, file photo, Kansas Gov. Laura Kelly answers questions regarding her testing strategy and number of COVID-19 cases during a news conference at the Statehouse in Topeka Kan. The coronavirus pandemic prompted Kelly to give her 2021 State of the State address virtually, rather than during a joint session of the Legislature. (Evert Nelson/The Topeka Capital-Journal via AP, File)

Kansas to shut down unemployment system to deal with fraud

Jan. 27, 2021 8:43 PM EST

TOPEKA, Kan. (AP) — Thousands of fraudulent unemployment claims are prompting Kansas to shut down its processing system this weekend, meaning some jobless workers will have payments delayed as the state installs new anti-fraud protections, Gov. Laura Kelly announced Wednesday. Kelly acknowledged that...

FILE - In this May 7, 2020 file photo, a GameStop store is seen in St. Louis. Two hedge funds are bowing out of their short positions on the money-losing video game retailer. Citron Research’s Andrew Left said in a video posted on YouTube that his company is going to become more judicious in shorting stocks. Melvin Capital is also exiting GameStop, with manager Gabe Plotkin telling CNBC that the hedge fund was taking a significant loss. (AP Photo/Jeff Roberson, File)

In duel with small investors over GameStop, big funds blink

Jan. 27, 2021 8:12 PM EST

Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it's become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%. The funds serving the financial elite are starting to walk away in defeat. Big bets they made that...

An unsold 2021 Model X sports-utility vehicle sits at a Tesla dealership Sunday, Jan. 24, 2021, in Littleton, Colo. Tesla reports earnings on Wednesday, Jan. 21.  (AP Photo/David Zalubowski)

Tesla posts 1st annual profit but misses analysts' estimates

Jan. 27, 2021 7:40 PM EST

Riding a sales surge amid a global pandemic, Tesla Inc. on Wednesday reported that it posted its first annual net profit in 2020. In a year that saw its stock soar to make it the world’s most valuable automaker, Tesla earned $721 million, capped by a $270 million profit in the fourth quarter. It was the...

The logo of Apple is illuminated at a store in the city center in Munich, Germany, Wednesday, Dec. 16, 2020. Apple’s delayed launch of its latest iPhones unleashed a holiday buying frenzy that propelled sales of the trendsetting company’s most popular product to its fastest start in years. The apparently pent-up demand for four different iPhone 12 models highlighted Apple’s latest quarterly report Wednesday, Jan. 27, 2021. (AP Photo/Matthias Schrader)

Apple posts big quarter on fast sales start for iPhone 12

Jan. 27, 2021 6:41 PM EST

SAN RAMON, Calif. (AP) — Apple’s delayed launch of its latest iPhones unleashed a holiday buying frenzy that propelled sales of the trendsetting company’s most popular product to its fastest start in years. The apparently pent-up demand for four different iPhone 12 models highlighted...

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)

Fed stresses its commitment to low rates as economy stumbles

Jan. 27, 2021 6:28 PM EST

WASHINGTON (AP) — Chair Jerome Powell said Wednesday that the Federal Reserve will keep pursuing its low-interest rate policies until an economic recovery is well underway, acknowledging that the economy has faltered in recent months. The Fed said in a statement after its latest policy meeting that hiring...

President Joe Biden signs an executive order on climate change, in the State Dining Room of the White House, Wednesday, Jan. 27, 2021, in Washington. (AP Photo/Evan Vucci)

Biden: 'We can't wait any longer' to address climate crisis

Jan. 27, 2021 6:26 PM EST

WASHINGTON (AP) — In the most ambitious U.S. effort to stave off the worst of climate change, President Joe Biden signed executive orders Wednesday to transform the nation’s heavily fossil-fuel powered economy into a clean-burning one, pausing oil and gas leasing on federal land and targeting...