Latest Business News

Boeing's troubled jet prompts it to pull back 2019 forecast

Apr. 24, 2019 8:49 AM EDT

Boeing is pulling its 2019 forecast over 737 Max uncertainty and says it's suspending its stock buybacks. The aerospace giant also provided first quarter results on Wednesday that missed Wall Street's estimates. Boeing Co. said its previously issued full-year guidance didn't account for 737 Max impacts. It plans...

Ford to invest $500M in electric vehicle startup Rivian

Apr. 24, 2019 8:43 AM EDT

DETROIT (AP) — Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings. Ford will become a minority partner in Rivian, which is based outside of Detroit and recently rolled out...

Caterpillar: 1Q Earnings Snapshot

Apr. 24, 2019 8:09 AM EDT

DEERFIELD, Ill. (AP) — Caterpillar Inc. on Wednesday reported first quarter net income of $1.88 billion. The Deerfield, Illinois-based company said it had net income of $3.25 per share. Earnings, adjusted for non-recurring gains, came to $2.94 per share. The results beat Wall Street expectations. The...

The name on the back matters: NHL is now marketing its stars

Apr. 24, 2019 8:06 AM EDT

Connor McDavid is eager to shrug off personal stats, awards and achievements and put the focus on his team in Edmonton. Yet there he is on the cover of a video game or in a commercial for a bank. Auston Matthews is the face of the franchise in Toronto. But he also got razzed by his Maple Leafs teammates for doing...

Train cars carrying ethanol catch fire in Texas derailment

Apr. 24, 2019 7:52 AM EDT

FORT WORTH, Texas (AP) — No injuries have been reported after train cars carrying ethanol derailed in Fort Worth and caught fire. The Fort Worth Fire Department says nearby homes have been evacuated as a precaution because of the fire, and that a hazardous materials team is on site Wednesday to monitor the...

Food makers in Europe get letters with poisoning threats

Apr. 24, 2019 7:51 AM EDT

COPENHAGEN, Denmark (AP) — Major food companies in Italy and Denmark have received letters containing an unidentified powder and written threats requesting they pay money or risk having their products poisoned, authorities said Wednesday. Danish police said the letters in Denmark contained "a hazardous...

The Latest: Boeing pulls 2019 forecast, suspends buybacks

Apr. 24, 2019 7:49 AM EDT

The Latest on Boeing Co.'s quarterly results. (all times local): _____ 7:45 a.m. Boeing is pulling its 2019 forecast over 737 Max uncertainty and says it's suspending its stock buybacks. The airline also provided first quarter results on Wednesday that beat Wall Street's estimates. Boeing Co. said its previously...

Tesla CEO heads down perilous road in pursuit of profit

Apr. 24, 2019 7:43 AM EDT

Tesla has lost nearly $6 billion since setting out to revolutionize the auto industry 15 years ago, but CEO Elon Musk foresees a profitable future fueled in part by a ride-hailing service made up of electric cars driven by robots. The mind-blowing concept is something Musk first outlined in a master plan three...

Occidental makes competing offer for Anadarko Petroleum

Apr. 24, 2019 7:40 AM EDT

HOUSTON (AP) — A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer worth $76 per share in cash and stock that it says is about a 20% premium to Chevron's $33 billion deal. Occidental Petroleum Corp. said in a letter to Anadarko's board on Wednesday that its bid would give...

China rejects 'unfounded hype' after GE spying accusation

Apr. 24, 2019 7:39 AM EDT

BEIJING (AP) — China's government on Wednesday rejected accusations that it steals technology after a former General Electric Co. engineer and his Chinese business partner were indicted on charges of industrial spying. The charges announced Tuesday come amid a tariff war between Beijing and Washington over...