Latest Business News

FILE - In this Oct. 8, 2018, file photo, is the entrance to ABQ Studios in Albuquerque, N.M., where Netflix announced at the studio complex that it chose Albuquerque as a new production hub. Netflix is pledging an additional $1 billion investment in its production hub in New Mexico. The company joined government officials Monday, Nov. 23, 2020, in announcing its plans. The expansion will add about 300 acres to the existing campus on the southern edge of Albuquerque, making it what officials say will be one of the largest film production facilities in North America. (AP Photo/Susan Montoya Bryan, File)

Netflix to expand production hub in New Mexico

Nov. 24, 2020 1:09 AM EST

ALBUQUERQUE, N.M. (AP) — Netflix plans to establish one of the largest production hubs in North America with an expansion of its existing studio complex in New Mexico and a commitment to an additional $1 billion in production spending, government and corporate leaders announced Monday. Ten new stages,...

Taiwan's leader launches production of domestically made sub

Nov. 24, 2020 1:08 AM EST

KAOHSIUNG, Taiwan (AP) — Taiwan's president inaugurated the production of domestically made submarines Tuesday in the southern city of Kaohsiung, in a step forward for the island's defense strategy at a time of elevated tensions with China. “This submarine is an important part of allowing our navy...

FILE- In this April 16, 2009 file photo, the Kuwait city skyline is seen through the haze of a sand storm in Kuwait City. Kuwait, one of the world’s wealthiest countries, is facing a debt crisis. The pandemic has sent the price of oil crashing to all-time lows and pushed Kuwait toward a reckoning with its longtime largesse for its citizens just as a parliamentary election looms in Dec. 2020. It needs the new parliament to approve raising its debt spending and passing the bill will be the first legislative challenge for Kuwait's new emir. (AP Photo, File)

Oil-rich Kuwait faces reckoning as debt crisis looms

Nov. 24, 2020 1:08 AM EST

DUBAI, United Arab Emirates (AP) — When Kuwait emerged from a monthslong coronavirus lockdown, hundreds of Kuwaitis flocked to reopened stores, the lines clogging malls, snaking through hallways and spilling onto sidewalks. But unlike much of the world, where long lines formed for donated food, Kuwaitis...

New Mexico lawmakers consider $1,200 payment to unemployed

Nov. 24, 2020 1:05 AM EST

SANTA FE, N.M. (AP) — The legislature is meeting Tuesday to pass a bill that could put $1,200 in the hands of state residents who lost their jobs due to the coronavirus pandemic, including those whose unemployment benefits have run out. It’s the second special legislative session called by Gov....

Pedestrians walk past a COVID-19-themed mural outside a boarded up business Monday, Nov. 23, 2020, in Santa Monica, Calif. (AP Photo/Marcio Jose Sanchez)

Los Angeles to discuss stay-home order as COVID cases rise

Nov. 24, 2020 1:04 AM EST

LOS ANGELES (AP) — Officials in the nation’s largest county will discuss a possible stay-home order just days before Thanksgiving after a spike of coronavirus cases surpassed a threshold set by Los Angeles public health officials to trigger one. An “impressive and alarming surge” of...

A man wearing a face mask to protect against the spread of the coronavirus walks on a pedestrian overpass in Tokyo, Tuesday, Nov. 24, 2020. (AP Photo/Koji Sasahara)

The Latest: Philippines targets 60 million for vaccination

Nov. 24, 2020 12:48 AM EST

MANILA, Philippines — Philippine officials say about 60 million Filipinos are being targeted for vaccination against the coronavirus next year at a cost of more than 73 billion pesos ($1.4 billion) to develop considerable immunity among a majority of Filipinos. Carlito Galvez Jr., who oversees government...

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. (AP Photo/Andrew Harnik, File)

Awaiting Yellen at Treasury: Yet another daunting crisis

Nov. 24, 2020 12:01 AM EST

WASHINGTON (AP) — Janet Yellen is in line for another top economic policy job — just in time to confront yet another crisis. Yellen, President-elect Joe Biden's apparent choice for treasury secretary, served on the Federal Reserve's policymaking committee during the 2008-2009 financial crisis that...

A nurse walks COVID-19 tests back to the tent at the free COVID-19 testing site on Monday, Nov. 23, 2020 in Glenwood Springs, Colo. (Chelsea Self/Glenwood Springs Post Independent via AP)

The Latest: China reports results of mass testing

Nov. 23, 2020 10:56 PM EST

BEIJING — China has reported new coronavirus cases in the cities of Shanghai and Tianjin as it seeks to prevent small outbreaks from becoming larger ones. The National Health Commission said Tuesday that there were two new locally spread cases in the previous 24-hour period, one in each city. It also...

Travelers leave the AirTrain at JKF International Airport Friday, Nov. 20, 2020, in New York. Rising U.S. coronavirus cases, a new round of state lockdowns and public health guidance discouraging trips are dampening enthusiasm for what is usually the biggest travel period of the year. (AP Photo/Frank Franklin II)

Millions stick to Thanksgiving travel plans despite warnings

Nov. 23, 2020 10:43 PM EST

About 1 million Americans a day packed airports and planes over the weekend even as coronavirus deaths surged across the U.S. and public health experts begged people to stay home and avoid big Thanksgiving gatherings. And the crowds are only expected to grow. Next Sunday is likely to be the busiest day of the...

This Monday, Nov. 23, 2020 satellite image from Planet Labs Inc. annotated by TankerTrackers.com, shows a damaged tank and fire-suppressing foam on the ground at a Saudi Arabian Oil Co. facility in Jiddah, Saudi Arabia. Yemen's Houthi rebels said they struck a Saudi oil facility in the port city of Jiddah on Monday with a new cruise missile, just hours after the kingdom finished hosting its virtual Group of 20 leaders summit. (Planet Labs Inc. via AP)

Yemen rebels' missile strikes Saudi oil facility in Jiddah

Nov. 23, 2020 10:33 PM EST

DUBAI, United Arab Emirates (AP) — Yemen's Houthi rebels said they struck a Saudi oil facility in the port city of Jiddah early Monday with a new cruise missile, just hours after the kingdom finished hosting its virtual Group of 20 leaders summit. The kingdom acknowledged the attack hours later. Videos of...