Latest Business News

Utility cancels $130 million in worker performance bonuses

Feb. 23, 2019 5:44 PM EST

SAN FRANCISCO (AP) — Northern California utility Pacific Gas & Electric said it won't award $130 million in employee bonuses because of its recent bankruptcy filing, a newspaper reported Saturday. Interim chief executive John Simon cited California's deadly wildfires and the company's precarious...

Buffett's firm reports $25B 4Q loss on paper stock losses

Feb. 23, 2019 3:51 PM EST

OMAHA, Neb. (AP) — Warren Buffett's company recorded a $25 billion loss in the fourth quarter because of a big drop in the paper value of several of its stock investments. Buffett said Saturday that Berkshire Hathaway's businesses are performing well overall, but it has to record the market value of its...

Buffett encourages investors to bet on American economy

Feb. 23, 2019 3:30 PM EST

OMAHA, Neb. (AP) — Billionaire Warren Buffett says the company he built through decades of acquisitions continues to perform well even though he hasn't found any major deals at attractive prices recently. Buffett released his annual letter to Berkshire Hathaway Inc. shareholders on Saturday. He wrote that...

Marella Agnelli, widow of Fiat tycoon, dies at 91 in Turin

Feb. 23, 2019 2:51 PM EST

ROME (AP) — Marella Agnelli, widow of Fiat tycoon Gianni Agnelli and a 20th-century symbol of elegance and beauty, died Saturday at her family home in Turin, in Italy's northern Piedmont region, at age 91. Her death was reported by Italian state TV and the Juventus soccer team, which is part of the Agnelli...

Iceland to keep hunting up to 2,130 whales over 5 years

Feb. 23, 2019 2:35 PM EST

REYKJAVIK, Iceland (AP) — Iceland's whaling industry will be allowed to keep hunting whales for at least another five years, killing up to 2,130 baleen whales under a new quota issued by the government. The five-year whaling policy was up for renewal when Fisheries Minister Kristjan Juliusson announced...

French yellow vest protesters seek momentum on 15th week

Feb. 23, 2019 2:18 PM EST

PARIS (AP) — Thousands of yellow vest protesters took to the streets across France on Saturday for a 15th straight weekend of demonstrations, trying to re-energize supporters while tamping down on the violence and anti-Semitism in the movement's ranks. Among the many rallies around Paris and in other...

Report: Kushner family firm pays $1.1B for 6,000 apartments

Feb. 23, 2019 1:54 PM EST

NEW YORK (AP) — The real estate firm run by White House adviser Jared Kushner's family has pulled off its biggest deal in more than a decade. Kushner Cos. paid $1.1 billion for a portfolio of about 6,000 apartments in Maryland and Virginia that had been owned by Lone Star Funds, according to a story...

Macron visits French farm fair amid rural anger, decline

Feb. 23, 2019 12:42 PM EST

PARIS (AP) — French President Emmanuel Macron pledged Saturday to protect European farming standards and culinary traditions threatened by aggressive foreign trade practices that see food as a "product like any other." Macron's speech at his country's premier agriculture fair was aimed at assuaging French...

Buffett's appetite for big deal soured by 'sky-high' prices

Feb. 23, 2019 12:07 PM EST

OMAHA, Neb. (AP) — Billionaire investor Warren Buffett says he hungers for an "elephant-sized acquisition," but the most tempting targets are too expensive for his tastes. That recipe means Berkshire Hathaway, the conglomerate that Buffett runs, will likely focus on buying stakes in a variety of companies...

Smile: Some airliners have cameras on seat-back screens

Feb. 23, 2019 11:05 AM EST

Now there is one more place where cameras could start watching you — from 30,000 feet. Newer seat-back entertainment systems on some airplanes operated by American Airlines, Delta Air Lines, United Airlines and Singapore Airlines have cameras, and it's likely they are also on planes used by other carriers....