Latest Business News
Consumer protection agency sues Walmart, Branch alleging illegal pay practices for gig drivers
NEW YORK (AP) — The Consumer Financial Protection Bureau has sued Walmart and work scheduling platform Branch Messenger for allegedly forcing delivery drivers that are part of the discounter's gig program to use costly deposit accounts to get paid and mispresented how they could access their...
Stock market today: S&P 500 climbs toward its first gain since Christmas
NEW YORK (AP) — The S&P 500 is climbing toward its first gain since Christmas on Friday. The main gauge of Wall Street’s health was 1.3% higher in afternoon trading and on track to break a five-day losing streak, its longest since April. The Dow Jones Industrial Average was...
Biden blocks $14 billion acquisition of US Steel by Japan's Nippon Steel
WASHINGTON (AP) — President Joe Biden has blocked the nearly $15 billion proposed deal for Nippon Steel of Japan to purchase Pittsburgh-based U.S. Steel — affirming his earlier vow on the presidential campaign trail to prevent the acquisition of Steeltown USA’s most storied steel company. ...
US Chamber, oil industry sue Vermont over law requiring companies to pay for climate change damage
The U.S. Chamber of Commerce and a top oil and gas industry trade group are suing Vermont over its new law requiring that fossil fuel companies pay a share of the damage caused over several decades by climate change. The federal lawsuit filed Monday asks a state court to prevent...
A major airline is being fined for chronic flight delays, and passengers may get a cut of the money
The Transportation Department said Friday it will hit JetBlue Airways with a $2 million penalty for chronically late flights along the East Coast, and half the money will go to passengers who were delayed. The agency said it’s the first time it has fined an airline for chronic...
Rise of US Steel paralleled the arrival of the United States on the world stage
President Joe Biden blocked the $15 billion acquisition of U.S. Steel by Japan's Nippon Steel on Friday — something he had first vowed to do in March. His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the...
What to know about Apple's $95 million settlement of the snooping Siri case
Apple has agreed to pay $95 million to settle a lawsuit that accused the company of turning its virtual assistant Siri into a snoop that eavesdropped on the users of iPhones and other trendy devices in a betrayal to its long-standing commitment to personal privacy. The proposed...
MLB panel cuts Nationals TV rights fees by 20% for 2024-26
NEW YORK (AP) — A Major League Baseball panel cut the rights fees owed the Washington Nationals from the Mid-Atlantic Sports Network by 20% for each of the final three seasons of the five-year period through 2026, citing a deteriorating cable television market. MLB’s Revenue...
Finalized tax credit for cleaner hydrogen gets a cautious OK from some environmental groups
The Biden administration released long-awaited final rules Friday for a tax credit that will send billions of dollars to producers of cleaner hydrogen. The new rules drew cautious praise from environmental groups, who said they would likely reduce planet-warming emissions but...
As California tribes sue their gambling rivals, cities could be the losers
On their first opportunity since a new law took effect Jan. 1, seven casino-owning Native American tribes filed suit in Sacramento County Thursday against dozens of California card rooms, opening a new front in one of last year’s most expensive political battles. Now, millions of dollars of tax...
