Latest Business News

Pfizer signs are seen out front of the Pfizer Research & Development Laboratories Wednesday, July 22, 2020, in Groton, Conn.  Pfizer on Tuesday, July 28,  reported a 32% plunge in second-quarter profit, as the global coronavirus pandemic limited marketing of and new prescriptions for its medicines. Still, the biggest U.S. drugmaker posted a solid profit and nudged up parts of its 2020 financial forecast. (AP Photo/Stew Milne)

Pfizer tops 3Q earnings views, makes progress on COVID shot

Oct. 27, 2020 1:58 PM EDT

Drugmaker Pfizer, one of the leaders in the race to develop a COVID-19 vaccine, is tweaking its timeline for when it will know if its experimental two-dose vaccine works. Pfizer executives had expected data from their 44,000-person international study would show by Oct. 31 how well it prevents coronavirus...

This combination of 2018-2020 photos shows, from left, Twitter CEO Jack Dorsey, Google CEO Sundar Pichai, and Facebook CEO Mark Zuckerberg. Less than a week before Election Day, the CEOs of Twitter, Facebook and Google are set to face a grilling by Republican senators who accuse the tech giants of anti-conservative bias. Democrats are trying to expand the discussion to include other issues such as the companies' heavy impact on local news.  The Senate Commerce Committee has summoned Twitter CEO Jack Dorsey, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai to testify for a hearing Wednesday. The executives have agreed to appear remotely after being threatened with subpoenas. (AP Photo/Jose Luis Magana, LM Otero, Jens Meyer)

Social media CEOs to face grilling from Republican senators

Oct. 27, 2020 1:26 PM EDT

WASHINGTON (AP) — Less than a week before Election Day, the CEOs of Twitter, Facebook and Google are set to face a grilling by Republican senators who accuse the tech giants of anti-conservative bias. Democrats are trying to expand the discussion to include other issues such as the companies' heavy impact...

A woman with an umbrella passes the New York Stock Exchange, Monday, Oct. 26, 2020. U.S. stocks are drifting Tuesday, Oct. 27, 2020, as momentum slows a day after Wall Street slumped to its worst loss in a month on worries about rising virus counts and Washington’s inability to deliver more aid to the economy.  The (AP Photo/Mark Lennihan)

Stocks continue slipping a day after worst loss in weeks

Oct. 27, 2020 1:04 PM EDT

NEW YORK (AP) — U.S. stocks are falling Tuesday, as momentum slows following Wall Street's worst day in a month on worries about rising virus counts and Washington's inability to deliver more aid to the economy. The S&P 500 fell 0.2% in afternoon trading after earlier swinging between small gains and...

Greece's Prime Minister Kyriakos, left, welcomes Russian Foreign Minister Sergei Lavrov during their meeting in Athens, Monday, Oct. 26, 2020. Tension with Turkey was one of the main topics of discussion between the Greek and Russian foreign ministers who met in Athens. Neighbours and NATO allies Greece and Turkey have been locked in a bitter dispute in over maritime boundaries and energy exploration rights in the eastern Mediterranean. (AP Photo/Petros Giannakouris)

The Latest: Russian foreign minister Lavrov in quarantine

Oct. 27, 2020 1:01 PM EDT

MOSCOW -- Russia’s foreign minister has self-isolated after contact with a person who has tested positive for coronavirus. The Foreign Ministry says Sergey Lavrov was feeling well but will postpone his official trips and meetings. It didn’t identify the infected person. The announcement follows...

FILE - In this Jan. 20, 2011, file photo, AMD chips are displayed at the Micro Center computer store in Santa Clara, Calif. AMD is buying processing platform developer Xilinx in an all-stock deal valued at $35 billion. (AP Photo/Paul Sakuma, File)

As world goes online in pandemic, another mammoth chip deal

Oct. 27, 2020 12:01 PM EDT

SAN JOSE, Calif. (AP) — Advanced Micro Devices is buying Xilinx for $35 billion in an all-stock deal that will combine the two Silicon Valley chip makers and accelerate an already rapid-fire pace of mergers and buyouts in the industry. The deal announced Tuesday puts AMD in a place it wants to be;...

See-through barriers separate gamblers and a dealer at a card table at the Hard Rock casino in Atlantic City, N.J., on July 2, 2020, the first day it reopened after being closed for four months due to the coronavirus outbreak. American Gaming Association President Bill Miller said Tuesday, Oct. 27, 2020, the industry is adapting to the pandemic but needs assistance from the government for its casinos and workers. (AP Photo/Wayne Parry)

Still hampered by virus, US casinos want aid in recovering

Oct. 27, 2020 11:58 AM EDT

ATLANTIC CITY, N.J. (AP) — The U.S. casino industry is seeking tax and regulatory relief from the government as it tries to recover from the coronavirus outbreak, which cost states more than $2 billion in lost tax revenue while casinos were shut down for four months this year. While 90% of casinos have...

2 major Ohio cities sue to block nuclear bailout fee

Oct. 27, 2020 11:49 AM EDT

COLUMBUS, Ohio (AP) — Two of Ohio's major cities are attempting to block the law at the center of a $60 million federal bribery probe from going into effect Jan. 1. Columbus City Attorney Zach Klein and Cincinnati Mayor John Cranley filed a complaint Tuesday, citing the need to save the state's electric...

FILE - This is an April 26, 2017, file photo showing Eli Lilly corporate headquarters in Indianapolis. Eli Lilly continues to back a potential COVID-19 treatment despite research showing that it may not work on hospitalized patients. The drugmaker said Tuesday, Oct. 27, 2020, that It remains confident that its drug may stop COVID from developing in other patients. (AP Photo/Darron Cummings, File)

Lilly stays confident in possible COVID drug after setback

Oct. 27, 2020 11:35 AM EDT

INDIANAPOLIS (AP) — Eli Lilly continues to back a potential COVID-19 treatment despite research showing that it may not work on hospitalized patients. The drugmaker said Tuesday it remains confident that its drug may stop COVID from developing in other patients. Researchers are still studying the drug in...

FILE - In this file photo dated Tuesday, Aug. 4, 2020, the logo of British Petroleum, BP, adorns a petrol station in west London.  The London-based oil company, BP said Tuesday Oct, 27, 2020, that third-quarter earnings plunged 96% as the COVID-19 pandemic reduced energy prices and demand.  (AP Photo/Alastair Grant, FILE)

BP reports 3Q earnings plunge amid falling demand

Oct. 27, 2020 11:25 AM EDT

LONDON (AP) — BP plc says third-quarter earnings plunged 96% as the COVID-19 pandemic reduced energy prices and demand. The London-based oil company said Tuesday that profits, excluding one-time items and changes in the value of inventories, dropped to $86 million from $2.25 billion in the same period last...

FILE - In this Jan. 15, 2020, file photo President Donald Trump holds a trade agreement with Chinese Vice Premier Liu He, in the East Room of the White House in Washington. Trump spent four years upending seven decades of American trade policy. He started a trade war with China, slammed America’s closest allies by taxing their steel and aluminum and terrified Big Business by threatening to take a wrecking ball to $1.4 trillion in annual trade with Mexico and Canada.
 Trump’s legacy on trade is likely to linger, regardless whether Joe Biden replaces him in the White House in January 2021.(AP Photo/Evan Vucci)

From Beijing to Brussels, Trump's trade wars at a glance

Oct. 27, 2020 11:07 AM EDT

WASHINGTON (AP) — President Donald Trump said he would shake up American trade policy. That he did. From Beijing to Brussels to Mexico City, he waged war with trading partners on multiple fronts. Here's a look at four tumultuous years of Trump trade policy: TRADE WAR WITH CHINA To rebalance...