Latest Business News

Report: Honda to shut UK plant, imperiling 3,500 jobs

Feb. 18, 2019 10:11 AM EST

LONDON (AP) — Honda will close a car factory in western England with the potential loss of 3,500 jobs, British media and a local lawmaker said Monday, in another blow to a British economy made jittery by Brexit. Sky News said the Japanese carmaker is to announce Tuesday that the Swindon plant will close in...

Berlin to get single travel app for public, private services

Feb. 18, 2019 10:02 AM EST

BERLIN (AP) — Travelers in Berlin will soon be able to use a single app to switch seamlessly between public transport, rental bikes, car-sharing and taxis without signing up for each service individually, officials said Monday. Lithuanian startup Trafi said Berlin will be the first major European capital...

China accuses US of trying to block its tech development

Feb. 18, 2019 9:18 AM EST

BEIJING (AP) — China's government on Monday accused the United States of trying to block its industrial development by alleging that Chinese telecom gear is a cybersecurity threat. And in a potential blow to the U.S. claims, British media reported that the country's intelligence agencies have found it is...

Florida company may build commercial eel farm in Michigan

Feb. 18, 2019 8:45 AM EST

ST. JOHNS, Mich. (AP) — A Florida-based company is considering building a $30 million eel farm in Michigan, which one state agriculture official said could be the first facility in the U.S. to commercially raise the long fish for food. Aqua Vida Aquaculture is considering land in an industrial park in St....

Equipment company Caterpillar Inc. to expand in Chicago

Feb. 18, 2019 8:39 AM EST

CHICAGO (AP) — A construction machinery company known for its earth-moving equipment plans to expand its Chicago office in an effort to attract top tech talent. Caterpillar Inc. is expanding its digital team, which includes software developers, data analysts, telecommunication experts and computer...

'Digital gangsters': UK wants tougher rules for Facebook

Feb. 18, 2019 8:27 AM EST

LONDON (AP) — British lawmakers issued a scathing report Monday that calls for tougher rules to keep Facebook and other tech firms from acting like "digital gangsters" and intentionally violating data privacy and competition laws. The report on fake news and disinformation on social media sites followed an...

EU to react swiftly if Trump slaps tariffs on EU cars

Feb. 18, 2019 7:27 AM EST

BRUSSELS (AP) — The European Union says that its reaction will be "swift and adequate" if U.S. authorities conclude that European cars are a threat to national security and should be hit with punitive tariffs. The U.S. Commerce Department is expected to issue soon an opinion on whether auto imports...

World stocks mostly rise ahead of more China-US trade talks

Feb. 18, 2019 7:19 AM EST

SINGAPORE (AP) — World stocks mostly rose on Monday ahead of more trade talks between Chinese and American officials in Washington this week. After Asia closed higher, France's CAC 40 gained 0.1 percent to 5,157 while the DAX in Germany eased 0.2 percent to 11,272. Britain's FTSE 100 also shed 0.2 percent...

German market watchdog bans short-selling of Wirecard shares

Feb. 18, 2019 6:15 AM EST

BERLIN (AP) — Germany's financial market regulator has issued a two-month ban on short-selling shares in Wirecard AG, whose stock has swung sharply in recent months. The regulator said Monday that short-selling in Wirecard's stock could cause uncertainty over its share price, with potential knock-on...

China seizes $1.5 billion in online lending crackdown

Feb. 18, 2019 4:53 AM EST

BEIJING (AP) — Chinese police have investigated 380 online lenders and frozen $1.5 billion in assets following an avalanche of scandals in the huge but lightly regulated industry, the government announced Monday. Beijing allowed a private finance industry to flourish in order to supply credit to...