Latest Business News

Ride at Iowa amusement park where boy died will never reopen

Feb. 05, 2023 16:17 PM EST

ALTOONA, Iowa (AP) — The ride at an Iowa amusement park where an 11-year-old boy was killed in 2021 will never reopen, the park's owners said. Bill Lentz, Adventureland's general manager, said in a letter posted on the park's website Friday that after spending months reviewing the...

Los Angeles man admits selling ghost guns, 17 pounds of meth

Feb. 05, 2023 15:28 PM EST

LOS ANGELES (AP) — A 27-year-old Los Angeles man has pleaded guilty to federal charges for selling 17 pounds (7.7 kilos) of methamphetamine and 89 firearms, including dozens of untraceable “ghost guns,” prosecutors said. Julio Ernesto Lopez-Menendez could face life in prison...

Evacuations urged in Ohio town as train wreck smolders

Feb. 05, 2023 14:20 PM EST

EAST PALESTINE, Ohio (AP) — A smoldering tangle of dozens of derailed freight cars, some carrying hazardous materials, has kept an evacuation order in effect in Ohio near the Pennsylvania state line as environmental authorities warily watch air quality monitors. About 50 cars...

'Knock at the Cabin' knocks off 'Avatar' at the box office

Feb. 05, 2023 13:21 PM EST

NEW YORK (AP) — For the first time in almost two months, the box office doesn't belong to blue people. After seven weeks as the top film in theaters, “Avatar: The Way of Water” was finally knocked out of the No. 1 spot by the M. Night Shyamalan thriller “Knock at the...

Ally Financial expands NASCAR spend with 2 new partnerships

Feb. 05, 2023 12:19 PM EST

LOS ANGELES (AP) — Ally Financial has expanded its growing portfolio as a top NASCAR sponsor with a deal to become the official bank of the stock car series and NASCAR-owned race tracks. The multiyear deal was announced Sunday ahead of NASCAR's exhibition extravaganza at the Los...

Biden's State of the Union to tout policy wins on economy

Feb. 05, 2023 12:06 PM EST

WASHINGTON (AP) — President Joe Biden will use his second State of the Union address on Tuesday to remind Americans of how their lives have been improved over his first two years in office, as he tries to confront pessimism in the country and navigate the tricky politics of a newly divided...

Europe bans Russian diesel, other oil products over Ukraine

Feb. 05, 2023 10:18 AM EST

FRANKFURT, Germany (AP) — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin's fossil fuel earnings as punishment for invading Ukraine. The ban comes along with a price cap...

How will EU ban and West's price cap on Russian diesel work?

Feb. 05, 2023 08:19 AM EST

FRANKFURT, Germany (AP) — The European Union is taking another big step toward cutting its energy ties with Russia. The 27-nation bloc is banning Russian refined oil products like diesel fuel and joining the U.S. and other allies in imposing a price cap on sales to non-Western countries. ...

It wasn’t me: Ex-UK PM Truss blames 'system' for her failure

Feb. 05, 2023 07:23 AM EST

LONDON (AP) — Former British Prime Minister Liz Truss says her failure wasn't her fault. Truss on Sunday blamed a “powerful economic establishment” and internal Conservative Party opposition for the rapid collapse of her government, and said she still believes her tax-cutting...

EU migration impasse leaves many refugees out in the cold

Feb. 05, 2023 03:49 AM EST

BRUSSELS (AP) — Some refugees and asylum-seekers in Brussels have been spending months in between the Street of Palaces and the Small Castle — quite literally. Unfortunately, it's not a dream come true at the end of their fearful flight from halfway across the globe. It's a...