Latest Business News

UPS falls short of forecasts on bad weather, costs

Apr. 25, 2019 12:45 PM EDT

DALLAS (AP) — United Parcel Service Inc. reported Thursday that first-quarter profit fell 17% as revenue was flat from a year ago and the package-delivery company ran into higher spending to cope with a series of winter storms. The results fell short of Wall Street expectations, and the shares tumbled in...

Algeria takes action against corruption, questions tycoons

Apr. 25, 2019 12:32 PM EDT

ALGIERS, Algeria (AP) — Algerian authorities are embarking on a "Clean Hands" campaign aimed at rooting out corruption that has been linked to top tycoons and current and former government officials. Corruption is a major complaint of the masses of protesters who helped drive longtime leader Abdelaziz...

Some horse advocates buck at new plan to save wild mustangs

Apr. 25, 2019 12:28 PM EDT

RENO, Nev. (AP) — Animal welfare groups have reached a milestone agreement with ranching interests they say would save wild mustangs from slaughter but the compromise has opened a nasty split among horse protection advocates. The Humane Society of the United States and the American Society for the...

Altria 1Q earnings miss as cigarette sales continue to slide

Apr. 25, 2019 12:27 PM EDT

WASHINGTON (AP) — Shares of Altria Group, the nation's largest tobacco company, fell Thursday after the company's earnings missed expectations on lower cigarette revenue and big expenses aimed at diversifying its business. The Richmond, Virginia-based company reported first quarter profit of $1.12 billion,...

US long-term mortgage rates up for 4th week; 30-year 4.20%

Apr. 25, 2019 12:21 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week for the fourth straight week, though they remain historically low as a spur to home sales in the spring buying season. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage increased to 4.20% from 4.17%...

Massport OKs new airport fees, restrictions on Uber, Lyft

Apr. 25, 2019 12:17 PM EDT

BOSTON (AP) — A revised plan that would create a central location at Logan International Airport where ride-hailing companies like Uber and Lyft can pick up and drop off passengers has been approved. The plan adopted Thursday by the Massachusetts Port Authority, which also imposes new fees, mostly...

Japan's Abe talks trade with EU chiefs ahead of US visit

Apr. 25, 2019 12:13 PM EDT

BRUSSELS (AP) — Japanese Prime Minister Shinzo Abe and top European Union officials are discussing trade, bilateral ties and North Korea, on the latest leg of Abe's international tour to prepare for the G-20 summit in June. The Japanese premier, EU Council President Donald Tusk and EU Commission President...

It's not just record-high stocks feeling the Fed effect

Apr. 25, 2019 12:06 PM EDT

NEW YORK (AP) — It's not just the stock market at a record high that's feeling the Fed effect. Jewelry shoppers, home buyers, retirees and many others are feeling the ramifications of the Federal Reserve's decision earlier this year to halt raising interest rates, at least temporarily. For some...

Big gains for Facebook, Microsoft keep stocks near records

Apr. 25, 2019 12:00 PM EDT

NEW YORK (AP) — U.S. stock indexes held close to their record highs Thursday as blowout results from Facebook and Microsoft offset a sharp slump for industrial companies following earnings reports that fell short of Wall Street's expectations. Communications and technology sectors helped lead the market...

Nissan ex-chair Ghosn released from Japanese detention

Apr. 25, 2019 11:55 AM EDT

TOKYO (AP) — Former Nissan Chairman Carlos Ghosn walked out of a Japanese detention center Thursday evening, his head held high, after paying 500 million yen ($4.5 million) in bail and winning a court rejection of an appeal from prosecutors. Ghosn walked solemnly out of the Tokyo Detention House with one...