Latest Business News

Tornado-relief payments come under scrutiny in Kentucky

Feb. 01, 2023 18:16 PM EST

FRANKFORT, Ky. (AP) — Some people unaffected by tornadoes that ravaged Kentucky in late 2021 were mistakenly sent payments from a relief fund funneling private donations into the region, the state treasurer's office said Wednesday. State Treasurer Allison Ball's office said it...

Fed lifts rate by quarter-point but says inflation is easing

Feb. 01, 2023 18:06 PM EST

WASHINGTON (AP) — The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate a quarter-point, its eighth hike since March. And the Fed signaled that even though inflation is easing, it remains high enough to require further rate hikes. ...

Biden goes after fees levied for flights, hotels and tickets

Feb. 01, 2023 17:57 PM EST

President Joe Biden took swipes at airlines and hotels Wednesday as he called on Congress to limit certain extra charges they impose on consumers. “These unfair fees add up,” he said, speaking just before a meeting of the White House Competition Committee. Biden...

Ex-aide says Elon Musk had 'handshake deal' for Tesla buyout

Feb. 01, 2023 17:45 PM EST

SAN FRANCISCO (AP) — Elon Musk's former chief of staff on Wednesday testified that the billionaire believed he had a “handshake deal" to take Tesla private in 2018 shortly before he tweeted he had the financing for an aborted buyout that is still haunting him in a high-profile trial. ...

Meta posts lower Q4 profit, announces huge stock buyback

Feb. 01, 2023 17:43 PM EST

SAN FRANCISCO (AP) — Facebook parent company Meta posted lower fourth-quarter profit and revenue on Wednesday, hurt by a downturn in the online advertising market and competition from rivals such as TikTok. But the company's stock soared in extended trading, as its revenue beat...

N. Carolina senators want tougher utility attack penalties

Feb. 01, 2023 17:43 PM EST

RALEIGH, N.C. (AP) — Punishments would get tougher in North Carolina for intentionally damaging utility equipment — like what authorities say happened two months ago when tens of thousands of Moore County residents lost electricity for days — in legislation filed Wednesday by Senate...

FTC fines GoodRx for unauthorized sharing of health data

Feb. 01, 2023 17:29 PM EST

In a first-of-its-kind enforcement, the Federal Trade Commission has imposed a $1.5 million penalty on telehealth and prescription drug discount provider GoodRx Holdings Inc. for sharing users' personal health data with Facebook, Google and other third parties without their consent. ...

DeSantis injects politics into $115B Florida budget proposal

Feb. 01, 2023 17:29 PM EST

TALLAHASSEE, Fla. (AP) — Florida Gov. Ron DeSantis promised tax relief Wednesday on children’s books, pet food and even the gas stoves that have become a rallying cry for Republicans while assuring that the state has plenty of reserves to withstand any economic downturn. He's...

Russia said eyeing eastern Ukraine push; Kyiv targets graft

Feb. 01, 2023 17:25 PM EST

KYIV, Ukraine (AP) — Russia is mustering its military might in the Luhansk region of Ukraine, officials said Wednesday, in what Kyiv suspects is preparation for an offensive as the first anniversary of Moscow’s invasion approaches. Also Wednesday, President Volodymyr...

Biden, McCarthy meet at White House on debt crisis worries

Feb. 01, 2023 17:24 PM EST

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy met face-to-face Wednesday for more than an hour of highly anticipated spending talks — "a good first meeting," the new Republican leader said — but expectations were low for significant progress as GOP lawmakers push for...