Latest Business News

Saudi Aramco to buy liquid natural gas from US company

May. 22, 2019 1:33 PM EDT

Saudi Arabia's state owned oil company will begin buying liquid natural gas from a U.S. company under a 20 year agreement. Saudi Aramco said Wednesday it would buy 5 million tons of liquid natural gas per year from Sempra Energy, based in San Diego. Aramco will make a 25% equity investment in an LNG export...

Small business cultures need to evolve along with work force

May. 22, 2019 1:18 PM EDT

NEW YORK (AP) — Meloney Perry once worked at a traditional big law firm with a formal, corporate atmosphere, and knew she wanted a different culture at her own firm. "I learned the 'old school' way, but it's changed," says Perry, founder of Perry Law in Dallas. "Nowadays, with the employees coming in...

Judge rules Qualcomm violated antitrust law in chip market

May. 22, 2019 1:15 PM EDT

NEW YORK (AP) — A federal judge has ruled that Qualcomm unlawfully squeezed out cellphone chip rivals and charged excessive royalties to manufacturers such as Apple in a decision that undercuts a key part of its business. The decision vindicates the U.S. Federal Trade Commission two years after it filed...

Ohio power company fulfills Louisiana wetlands agreement

May. 22, 2019 1:14 PM EDT

ALEXANDRIA, La. (AP) — An Ohio-based multinational power company has completed an agreement to pay for potential pollution by reforesting wetlands for a national wildlife refuge in Louisiana. American Electric Power, The Conservation Fund and the U.S. Fish and Wildlife Service said Wednesday that the final...

Southwest Airlines mechanics approve contract, 20% raise

May. 22, 2019 1:10 PM EDT

DALLAS (AP) — Southwest Airlines mechanics have approved a five-year contract that adds up to a 20% raise. Dallas-based Southwest on Tuesday announced the tentative agreement with about 2,400 workers represented by the Aircraft Mechanics Fraternal Association. Both sides in March announced they'd reached a...

3 Minutes: Trump meeting with Dems goes bust in a flash

May. 22, 2019 1:02 PM EDT

WASHINGTON (AP) — The curtains in the Cabinet Room were drawn. The Democrats were waiting. President Donald Trump came and went in all of three minutes. Round 2 of the president's consultations with congressional Democrats on infrastructure went bust in a flash. Prospects for passing a large infrastructure...

Ski resort execs, businessman, indicted on fraud charges

May. 22, 2019 12:58 PM EDT

BURLINGTON, Vt. (AP) — The former owner and former president of a Vermont ski resort accused in a multimillion-dollar fraud case have been indicted on multiple federal charges over a failed plan to build a biotechnology plant using foreign investors' money. The fraud charges were made public Wednesday...

The Latest: NASCAR 'pleased' with $2B deal with ISC

May. 22, 2019 12:54 PM EDT

The Latest on NASCAR's $2 billion deal to acquire International Speedway Corp. (all times Eastern): 12:30 p.m. NASCAR is calling its $2 billion deal with International Speedway Corp. a merger. The stock car series says it is "pleased with the progress" the "merger agreement" represents. NASCAR pledged to grow the...

Nonprofits turn to cryptocurrency to help needy Venezuelans

May. 22, 2019 12:51 PM EDT

BARQUISIMETO, Venezuela (AP) — Andreina Cordero started the year skipping meals so her three kids could eat. Her husband, a construction worker, was out of a job. And the family's savings had been devastated by the nation's hyperinflation, limiting Cordero's children to a diet of rice, beans, pasta and...

Bankruptcy judge to approve sale of Reading Eagle

May. 22, 2019 12:51 PM EDT

READING, Pa. (AP) — A federal bankruptcy judge said Wednesday he intends to approve the sale of the Reading Eagle to a large newspaper chain known for taking over struggling papers and then making deep newsroom cuts. MediaNews Group, better known as Digital First Media, offered $5 million for the assets of...