Latest Business News

The Latest: Varadkar says issues remain over Brexit

Oct. 16, 2019 6:32 AM EDT

BRUSSELS (AP) — The Latest on Britain's plans to leave the European Union (all times local): 12:25 p.m. As Brexit negotiations continue, Irish Prime Minister Leo Varadkar says there is a pathway to a deal "but there are many issues that still need to be resolved." Varadkar, who spoke by phone Wednesday...

US charges Turkish bank with evading sanctions against Iran

Oct. 16, 2019 6:26 AM EDT

NEW YORK (AP) — The United States criminally charged a major Turkish bank with helping to evade sanctions against Iran, potentially raising diplomatic tensions as the U.S. tries to contain Turkey's military offensive in Syria. The charges against Halkbank, a state-owned bank, were announced Tuesday, years...

EU orders chipmaker Broadcom to change business practices

Oct. 16, 2019 6:25 AM EDT

BRUSSELS (AP) — European regulators on Wednesday ordered chipmaker Broadcom to change the way it does business with key customers over competition concerns. EU antitrust chief Margrethe Vestager said her department had "strong indications" that Broadcom is "engaging in anticompetitive practices." Her...

Ex-Mozambique finance minister fights extradition to US

Oct. 16, 2019 6:22 AM EDT

JOHANNESBURG (AP) — Former Mozambican finance minister Manuel Chang is challenging attempts to extradite him to the United States for a corruption trial. His extradition hearing is underway Wednesday in South Africa. Chang was arrested in South Africa last year on the request of the U.S. government in...

Jury selection set to begin in landmark federal opioid trial

Oct. 16, 2019 6:07 AM EDT

CLEVELAND (AP) — Jury selection is scheduled to begin Wednesday in the first federal trial over the opioids epidemic. Two Ohio counties claim drug companies that made, distributed and sold prescription painkillers engaged in a deadly conspiracy that has inflicted massive damage on their communities and...

Eurozone inflation revised down to near 3-year lows

Oct. 16, 2019 5:48 AM EDT

BRUSSELS (AP) — Inflation in the 19-country eurozone has fallen to its lowest rate since November 2016. Statistics agency Eurostat revised down the annual rate of consumer price inflation in September to 0.8% from its initial estimate of 0.9% as energy prices fell by more than initially thought. The fall...

Global shares mixed after solid earnings push Wall St higher

Oct. 16, 2019 5:31 AM EDT

TOKYO (AP) — Global shares were mixed Wednesday after a Wall Street rally driven by healthy earnings reports from U.S. companies. France's CAC 40 was down nearly 0.2% in early trading at 5,691.75. Germany's DAX was unchanged at 12,629.82. Britain's FTSE 100 fell 0.3% to 7,189.08. U.S. shares were set to...

UK inflation unexpectedly holds steady at 1.7% in September

Oct. 16, 2019 5:26 AM EDT

LONDON (AP) — Official figures show that falling fuel and secondhand car prices helped keep consumer price inflation in Britain unchanged in September at 1.7%, its lowest rate since late 2016. The flat reading from the Office for National Statistics was unexpected — most economists predicted a...

Dutch farmers protest efforts to cut emissions, reduce herds

Oct. 16, 2019 5:21 AM EDT

THE HAGUE, Netherlands (AP) — Dutch farmers are driving their tractors in slow-moving convoys across the country to protest their treatment by the government as it seeks to rein in carbon and nitrogen emissions. Hundreds of drivers on tractors gathered Wednesday in the central town of De Bilt to protest...

China's Huawei reports sales gain despite US sanctions

Oct. 16, 2019 5:04 AM EDT

BEIJING (AP) — Chinese tech giant Huawei on Wednesday reported a double-digit gain in sales despite U.S. sanctions that threaten to disrupt its smartphone and network equipment businesses. Huawei Technologies Ltd. said its sales rose 24.4% in the first nine months of 2019 to 610.8 billion yuan ($86...