Latest Business News

Tugboats get into position on the Russian pipe-laying vessel

Russia: gas pipeline to Germany at risk after US sanctions

Jan. 19, 2021 11:13 AM EST

MOSCOW (AP) — Russian state gas company Gazprom acknowledged there is a risk that its undersea pipeline to Germany could be suspended or canceled after the U.S. on Tuesday imposing sanctions on a Russian ship involved in its construction. Germany’s Economy Ministry said it had been informed in...

Lumentum buys Coherent in $5.7B push into lasers, photonics

Jan. 19, 2021 11:07 AM EST

Lumentum Holdings will spend $5.7 billion in cash and stock to buy Coherent and expand its reach into lasers and photonics. The San Jose, California, company said Tuesday that it would pay a 49% premium to the closing price of Coherent shares on Friday. The deal includes $100 in cash and slightly more than one...

FILE - In this Wednesday, Jan. 13, 2021 file photo, people walk by the New York Stock Exchange. Stocks are climbing Tuesday, Jan. 19 recovering some of last week’s losses to pull closer to their record highs. The S&P 500 was 0.6% higher in early trading and got back within 1% of its record set earlier this month. (AP Photo/Mark Lennihan, File)

Wall Street's momentum swings back as stocks, yields tick up

Jan. 19, 2021 10:54 AM EST

NEW YORK (AP) — Stocks are ticking higher on Wall Street Tuesday, recovering some of last week’s losses to pull closer to their record highs. The S&P 500 was up 0.5% in morning trading and back within 1% of its record set earlier this month. The Dow Jones Industrial Average was up 128 points,...

FILE - In this March 12, 2020 file photo, Gov. Tony Evers declares a public health emergency in Madison, Wis. Evers has ordered a ban on all gatherings of more than 50 people, a dramatic move in line with federal recommendations as other states took similar action to stop the spread of the new coronavirus. Evers tweeted Monday, March 16, 2020 that he was ordering the ban, but said

The Latest: Wisconsin vaccine plan excludes grocery workers

Jan. 19, 2021 10:53 AM EST

MADISON, Wis. — Wisconsin’s plan for the next phase of coronavirus vaccinations covers essential workers, including teachers, child care providers, law enforcement officers and hospital staff who aren’t on the front lines. In Wisconsin, it doesn’t include grocery store employees, as...

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. President-elect Joe Biden announced Yellen as his nominee for Treasury Secretary. (AP Photo/Andrew Harnik, File)

Pandemic support at center of Yellen confirmation hearing

Jan. 19, 2021 10:50 AM EST

WASHINGTON (AP) — The Senate Finance Committee has begun its confirmation hearing for Treasury Secretary-nominee Janet Yellen with Democrats and Republicans squaring off immediately over how much more support the economy, hammered during the pandemic, requires. Sen. Ron Wyden, D-Oregon, who is scheduled...

FILE - In this Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston.  On Tuesday, Jan. 19, 2021, Bank of America reported fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down the bank. However the bank was able to release more than $800 million from its credit reserves, in a sign that it sees the U.S. economy improving in the coming months. (AP Photo/Steven Senne, File)

Bank of America 4Q profit falls 18% on lower interest rates

Jan. 19, 2021 10:46 AM EST

CHARLOTTE, N.C. (AP) — Bank of America’s fourth-quarter profits fell 18% from a year ago, as lower interest rates weighed down its results. However the bank was able to release more than $800 million from its credit reserves, a sign that it sees the U.S. economy improving in the coming months. The...

Pedestrian pass by The Royal Courts Of Justice, in London, Tuesday, Jan. 19, 2021. Meghan, the Duchess of Sussex will ask a High Court judge to rule in her favour in her privacy action against the Mail on Sunday over the publication of a handwritten letter to her estranged father. The case will be heard remotely due to the pandemic. (AP Photo/Kirsty Wigglesworth)

Meghan seeks court ruling over 'serious breach' of privacy

Jan. 19, 2021 10:37 AM EST

LONDON (AP) — Lawyers for the Duchess of Sussex asked a British judge on Tuesday to settle her lawsuit against a newspaper before it goes to trial by ruling that its publication of a “deeply personal” letter to her estranged father was “a plain and a serious breach of her rights of...

This image provided by General Motors shows the new company logo.  General Motors is changing its corporate logo and starting an electric vehicle marketing campaign as it tries to refurbish its image from a maker of gas-powered pickups and SUVs to a clean vehicle company. The 112-year-old Detroit automaker says, Friday, Jan. 8, 2021, the campaign will show GM’s progressive company vision as it promises to roll out 30 new battery-powered vehicles globally by the end of 2025. (General Motors via AP)

GM teams up with Microsoft on driverless cars

Jan. 19, 2021 10:36 AM EST

SILVER SPRING, Md. (AP) — General Motors is teaming up with Microsoft to accelerate its rollout of electric, self-driving cars. In the partnership announced Tuesday, the companies said Microsoft’s Azure cloud and edge computing platform would be used to “commercialize its unique autonomous...

Trident Seafoods reports 4 COVID-19 cases at plant in Alaska

Jan. 19, 2021 10:14 AM EST

SEATTLE (AP) — A Seattle-based seafood company has reported that four workers at its Alaska seafood plant tested positive for COVID-19, including one who was taken to a hospital. Trident Seafoods reported that the four employees were all roommates and have returned to work after undergoing a 14-day...

New books with buzz? Dozens excerpted in free e-preview

Jan. 19, 2021 10:05 AM EST

NEW YORK (AP) — Excerpts from upcoming works by Pulitzer Prize-winner Viet Thanh Nguyen and crime writer Lisa Scottoline are among 46 books previewed in a free e-book collection. “Buzz Books 2021: Spring/Summer” was released Tuesday by the industry newsletter Publishers Lunch. Besides...