Latest Business News

Black Friday shoppers wear face masks as the leave Saks Fifth Avenue flagships store empty handed, Friday, Nov. 27, 2020, in New York. (AP Photo/Mary Altaffer)

Virus keeps Black Friday crowds thin, shoppers shift online

Nov. 27, 2020 5:51 PM EST

NEW YORK (AP) — The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into bankruptcy. In normal times, Black Friday is...

Michigan restaurant leaves franchise over virus restrictions

Nov. 27, 2020 5:15 PM EST

An owner of a restaurant in Michigan’s Thumb Region said Friday that the franchisee has split from its corporate office and changed its name after refusing to stop seating customers as part of state restrictions to slow the spread of the COVID-19 virus. Customers Friday were greeted with “Sandusky...

People wearing protective masks to help curb the spread of the coronavirus walk through the row of ginkgo trees along the sidewalk as the trees and sidewalk are covered with the bright yellow leaves Friday, Nov. 27, 2020, in Tokyo.(AP Photo/Kiichiro Sato)

The Latest: Miami congressman-elect tests positive for virus

Nov. 27, 2020 5:04 PM EST

MIAMI (AP) — MIAMI — South Florida Congressman-elect Carlos Gimenez has tested positive for coronavirus. His campaigned announced Friday that the former Miami-Dade County mayor and his wife, Lourdes, tested positive Thursday for COVID-19 after having mild symptoms. They said they’re...

This December 2015 family photo shows Jose Pereira, second left, one of the Houston-based Citgo oil executives convicted and ordered to prison in Venezuela, pictured with his wife Mervis, from left, and children, Sara, John, unidentified grandson and Joao, in Houston, Texas. Jose Pereira, 63, is one of the six American oil executives held for three years in Venezuela who were found guilty of corruption charges by a Venezuelan judge on Thursday, Nov. 26, 2020. (Courtesy of John Pereira via AP)

Family of jailed oil exec asks for Venezuelan leader's mercy

Nov. 27, 2020 4:59 PM EST

CARACAS, Venezuela (AP) — The family of a Houston-based Citgo oil executive convicted and ordered to prison in Venezuela alongside five others appealed directly to President Nicolás Maduro on Friday for mercy. In an open letter, relatives of José Pereira, 63, wrote to Maduro that he has a long...

FILE - In this Thursday, July 2, 2020, file photo, cars drive under a sign greeting visitors near the entrance to Walt Disney World, in Lake Buena Vista, Fla.   The Walt Disney Co. is announcing plans to lay off 4,000 more workers in its theme parks division in California and Florida due to the COVID-19 pandemic's effect on the industry. The company has been limiting attendance at its parks and changing protocols to allow for social distancing. (AP Photo/John Raoux, File)

Disney to lay off 4,000 more employees amid pandemic

Nov. 27, 2020 4:54 PM EST

ORLANDO, Fla. (AP) — The Walt Disney Co. announced plans to lay off 4,000 more employees largely due to the effects of the COVID-19 pandemic. The announcement by the company was made in a U.S. Securities and Exchange Commission filing earlier this week, saying 32,000 employees at the parks, experiences and...

Las Vegas tourism slumps as coronavirus surges

Nov. 27, 2020 4:34 PM EST

LAS VEGAS (AP) — Las Vegas welcomed nearly 1.9 million tourists in October, a greater total than September but only about half the 3.7 million it hosted throughout the month a year prior, Las Vegas Convention and Visitors Authority reported this week. The slow and incomplete return of tourists continues to...

FILE - Issa Rae poses for a portrait in New York on Aug. 8, 2018. The

Issa Rae urges participation in Small Business Saturday

Nov. 27, 2020 4:04 PM EST

LOS ANGELES (AP) — With many small businesses struggling to hold on during the coronavirus pandemic, Issa Rae believes now is the time to support independent stores more than ever. The creator and star of HBO series “Insecure” strongly encourages people to shop locally as part of Small...

Closing prices for crude oil, gold and other commodities

Nov. 27, 2020 3:35 PM EST

Benchmark U.S. crude oil for January delivery rose 18 cents to $45.53 a barrel Friday. Brent crude oil for January delivery rose 5 cents to $48.30 a barrel. Wholesale gasoline for December delivery fell less than 1 cent to $1.28 a gallon. December heating oil slipped 1 cent to $1.38 a gallon. December natural gas...

FILE - In this Sept. 17, 2020 file photo, Poland's Prime Minister Mateusz Morawiecki speaks during a news conference at the Palace of the Grand Dukes of Lithuania in Vilnius, Lithuania. Morawiecki says on Friday, Nov. 27 he has confirmed to German Chancellor Angela Merkel that Warsaw is ready to block the EU’s huge budget and recovery package because it’s linked to democratic standards in member states. Mateusz Morawiecki wrote on Facebook that he spoke with Merkel, whose country holds the rotating European Union presidency, about the 1.8 trillion-euro ($2.1 trillion) budget for 2021-2027 and the urgently needed coronavirus recovery package that is to be implemented in January.(AP Photo/Mindaugas Kulbis, file)

Polish PM says he's told Merkel of plan to veto EU budget

Nov. 27, 2020 3:26 PM EST

WARSAW, Poland (AP) — Poland's prime minister on Friday said he had confirmed to German Chancellor Angela Merkel that Warsaw is ready to block the EU's huge budget and recovery package because it's linked to democratic standards in member states. Mateusz Morawiecki wrote on Facebook that he spoke with...

Etsy, Adobe rise; National Oilwell, Comerica fall

Nov. 27, 2020 2:53 PM EST

NEW YORK (AP) — Stocks that moved heavily or traded substantially Friday: Etsy, up $15.46 to $160.55 Consumers appeared to prefer shopping from home instead of heading to stores on Black Friday. Adobe, up $6.95 to $477.03 Shares of technology companies led the gains in the overall market. Moderna, up...