Latest Business News

TVA rescinds decision to outsource technology jobs

Aug. 6, 2020 6:49 PM EDT

NASHVILLE, Tenn. (AP) — Just days after President Donald Trump criticized the Tennessee Valley Authority for hiring foreign workers, the federally owned energy corporation announced Wednesday it was rescinding a decision to lay off its in-house technology workers. The authority had been planning on...

FILE - This Feb. 29, 2020 file photo, National Rifle Association Executive Vice President and CEO Wayne LaPierre speaks at Conservative Political Action Conference, CPAC 2020, at the National Harbor, in Oxon Hill, Md.  New York’s attorney general is suing the National Rifle Association, seeking to put the powerful gun advocacy organization out of business over allegations that high-ranking executives diverted millions of dollars for personal benefit. The lawsuit filed Thursday, Aug. 6,  by Attorney General Letitia James followed an 18-month investigation into the NRA, which is a nonprofit group originally chartered in New York.(AP Photo/Jose Luis Magana, File)

New York attorney general seeks to dissolve NRA

Aug. 6, 2020 6:30 PM EDT

NEW YORK (AP) — New York’s attorney general sued the National Rifle Association on Thursday, seeking to put the powerful gun advocacy organization out of business over claims that top executives illegally diverted tens of millions of dollars for lavish personal trips, no-show contracts for...

Trump targets Canada, re-imposing tariffs on aluminum

Aug. 6, 2020 6:23 PM EDT

WASHINGTON (AP) — President Donald Trump said Thursday that the United States is reinstating a 10% import tax on Canadian aluminum, raising tensions with an American ally just weeks after his trade pact with Canada and Mexico took effect. Trump originally imposed the tariffs on aluminum imports in 2018. He...

Acting Director of U.S. Immigration and Customs Enforcement Matt Albence comments Thursday, Aug. 6, 2020, in Jackson, Miss., after the announcement of the indictments of four executives from two Mississippi poultry processing plants on federal charges tied to one of the largest workplace immigration raids in the U.S. in the past decade. Their announcement happened a day before the one-year anniversary of the raids in which 680 people were arrested at seven poultry plants in central Mississippi. U.S. Attorney Mike Hurst listens in rear. (AP Photo/Rogelio V. Solis)

4 poultry plant execs indicted after 2019 immigration raid

Aug. 6, 2020 6:19 PM EDT

JACKSON, Miss. (AP) — Four executives from two Mississippi poultry processing plants have been indicted on federal charges tied to one of the largest workplace immigration raids in the U.S. in the past decade. U.S. Attorney Mike Hurst and the acting director of U.S. Immigration and Customs Enforcement,...

FILE - In this April 16, 2020, file photo, pallbearers wearing personal protective equipment suits lift the casket containing the remains of Benedict Somi Vilakasi for his burial ceremony at the Nasrec Memorial Park outside Johannesburg, South Africa. Africa’s confirmed coronavirus cases have surpassed 1 million, but global health experts tell The Associated Press the true toll is several times higher. (AP Photo/Jerome Delay, File)

The Latest: South Africa nearing 10,000 coronavirus deaths

Aug. 6, 2020 6:09 PM EDT

JOHANNESBURG — South Africa is reporting more than 8,300 new confirmed coronavirus cases as the country with the world’s fifth largest caseload is approaching 10,000 deaths. The new health ministry figures push the total cases on the African continent past the 1 million mark. South Africa has more...

FILE - This Aug. 9, 2019 file photo, the logo for Uber appears above a trading post on the floor of the New York Stock Exchange.  Uber lost $1.78 billion in the second quarter of 2020 as the pandemic carved a gaping hole in its ride-hailing business, with millions of people staying home to reduce the spread of the coronavirus. Its food delivery business grew as more people ordered in, but that growing part of its business didn’t turn a profit.  (AP Photo/Richard Drew, File)

Uber lost $1.8B in 2Q as riders stayed home and ordered in

Aug. 6, 2020 5:48 PM EDT

NEW YORK (AP) — Uber lost $1.78 billion in the second quarter as the pandemic carved a gaping hole in its ride-hailing business, with millions of people staying home to reduce the spread of the coronavirus. Its food delivery business grew as more people ordered in, but that booming part of its business...

FILE - This May 11, 2017, file photo shows Andre Shavers, who runs a marijuana delivery business, on a street in Oakland, Calif. California faced off in court Thursday, Aug. 6, 2020, against some of its own cities that want to overturn a government rule allowing home marijuana deliveries statewide, even into communities that banned commercial pot sales. (AP Photo/Eric Risberg, File)

California, cities battle over marijuana home-delivery rule

Aug. 6, 2020 5:32 PM EDT

FRESNO, Calif. (AP) — California faced off in court Thursday against some of its own cities that want to overturn a government rule allowing home marijuana deliveries statewide, even into communities that banned commercial pot sales. In a potential setback for at least some of the cities, the judge...

Fed's Main Street pandemic support program off to slow start

Aug. 6, 2020 5:28 PM EDT

WASHINGTON (AP) — The Federal Reserve says that its Main Street Lending Program designed to help small and medium-sized companies get through the pandemic has managed to make just eight loans in its first month of operations. In its first report on the program, the Fed said Thursday it had provided $76.9...

FILE – This April 4, 2017, file photo shows the entrance to FirstEnergy Corp.'s Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. A nuclear plant bailout law should be repealed immediately, Democratic members of the Ohio House announced Wednesday, July 22, 2020, as a bribery scandal involving one of the state’s most powerful lawmakers unfolded over the law’s passage. (AP Photo/Ron Schwane, File)

4 Ohio operatives plead not guilty in $60M bribery probe

Aug. 6, 2020 4:47 PM EDT

COLUMBUS, Ohio (AP) — Four Ohio lobbyists and political operatives pleaded not guilty Thursday to charges they conspired as part of what one defendant called an “unholy alliance” aimed at bailing out two aging Ohio nuclear power plants. Former Republican House Speaker Larry Householder and...

How major US stock indexes fared Thursday

Aug. 6, 2020 4:35 PM EDT

Stocks closed higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high. Technology and communication services stocks powered the rally, which extended the S&P 500's winning streak to a fifth day. The benchmark index is now...