Latest Business News

UK central bank holds rates amid Brexit, trade uncertainty

Jun. 20, 2019 8:24 AM EDT

LONDON (AP) — The Bank of England kept its main interest rate on hold at 0.75% on Thursday and warned that a combination of Brexit worries and global trade tensions was weighing on growth. All nine members of the Monetary Policy Committee backed the decision to not change rates. There had been some...

The Latest: Putin opposes easing punishments for drug crimes

Jun. 20, 2019 8:19 AM EDT

MOSCOW (AP) — The Latest on Putin's annual call-in show (all times local): 3:15 p.m. President Vladimir Putin says he's against easing punishments for drug-related crimes but considers it necessary to tighten controls in order to prevent police abuses. Speaking during a live marathon call-in show, Putin...

The Latest: UK Tories narrow prime minister race to 3

Jun. 20, 2019 8:12 AM EDT

LONDON (AP) — The Latest on choosing Britain's next prime minister (all times local): 1:10 p.m. The contest to become Britain's next prime minister is down to its final three candidates, with Environment Secretary Michael Gove and Foreign Secretary Jeremy Hunt chasing front-runner Boris Johnson for a spot...

World shares rise on hopes for US-China truce, Fed outlook

Jun. 20, 2019 8:00 AM EDT

BANGKOK (AP) — Global markets advanced Thursday on hopes for a trade truce between the United States and China and the Federal Reserve's hint at lower rates. The price of oil surged amid heightened tensions between Iran and the U.S. Confirmation of a meeting between President Donald Trump and his...

Turkey launches new gas drillship amid tensions with Cyprus

Jun. 20, 2019 7:49 AM EDT

ISTANBUL (AP) — Turkey is launching a second drillship that it says will drill for gas off neighboring Cyprus despite European Union warnings to refrain from such illegal actions that could incur sanctions against Ankara. Turkish Energy Minister Fatih Donmez was due aboard the Yavuz on Wednesday as part of...

Boeing eyes more 737 Max sales after post-crash drought

Jun. 20, 2019 7:30 AM EDT

PARIS (AP) — Boeing's post-crash business slump may be coming to an end. The plane maker said Thursday that it's in negotiations with several customers interested in buying the 737 Max jet, as it tries to rebuild trust in the plane and its own reputation after two Max crashes that killed 346 people. But...

China rejects threats, tariffs as way to resolve trade war

Jun. 20, 2019 7:27 AM EDT

BEIJING (AP) — China warned Thursday that threats and tariffs will not resolve trade tensions between the two biggest economies and blasted Republican Sen. Marco Rubio for his criticism of technology giant Huawei over patents. Ministry spokesman Gao Feng said Thursday that its "core concern" over mutual...

Oil shippers boost security after attacks on tankers in Gulf

Jun. 20, 2019 7:18 AM EDT

DUBAI, United Arab Emirates (AP) — A series of attacks on oil tankers near the Persian Gulf has ratcheted up tensions between the U.S. and Iran — and raised fears over the safety of one of Asia's most vital energy trade routes, where about a fifth of the world's oil passes through its narrowest at...

Bank of England votes unanimously to leave key interest rate unchanged at 0.75%

Jun. 20, 2019 7:03 AM EDT
LONDON (AP) — Bank of England votes unanimously to leave key interest rate unchanged at 0.75%.

Putin faces gripes in call-in show about living standards

Jun. 20, 2019 6:55 AM EDT

MOSCOW (AP) — President Vladimir Putin faced a litany of complaints about low living standards during a marathon call-in show Thursday, promising to boost wages and pensions and boost social programs. More than 1.5 million people have sent their questions by phone, video calls or email. For the people...