Latest Business News

The Latest: Elders brace for arrest for blocking summit road

Jul. 15, 2019 3:02 PM EDT

MAUNA KEA, Hawaii (AP) — The Latest on the start of work to build a massive telescope on a site considered sacred by some Native Hawaiians (all times local): 8:30 a.m. Hawaii officials have closed a road leading to the summit of the state's tallest mountain, the site of an embattled giant telescope...

Treasury chief: Facebook currency plan ripe for illicit use

Jul. 15, 2019 3:00 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin says the Trump administration has "very serious concerns" that the new digital currency planned by Facebook could be used for illicit activity such as money laundering, human trafficking and financing terrorism. Mnuchin told reporters Monday at the White...

Telescope foes tie together, block road to Hawaii summit

Jul. 15, 2019 2:58 PM EDT

MAUNA KEA, Hawaii (AP) — Hundreds of demonstrators gathered Monday at the base of Hawaii's tallest mountain to protest the construction of a giant telescope on land that some Native Hawaiians consider sacred. At about daybreak, a group of kupuna, or elders, tied themselves together with rope at the road to...

Atlantia chosen to help relaunch Italy's Alitalia airline

Jul. 15, 2019 2:55 PM EDT

ROME (AP) — The Italian state railway running Alitalia has chosen the Atlantia group of the Benetton empire as the key partner to work with the railway, the Italian treasury and Delta Air Lines in trying once again to relaunch the struggling flagship carrier. Ferrovie dello Stato said its board met Monday...

Former Idaho governor seeks investigation of mining company

Jul. 15, 2019 2:54 PM EDT

BOISE, Idaho (AP) — Former Idaho Gov. C.L. "Butch" Otter has asked the Trump administration to investigate possible Chinese involvement in a mining company that could compete in Idaho with a Canadian-based company that tapped Otter to serve on its board of directors. The Idaho Statesman reports in a story...

Deals, protests during Amazon Prime Day

Jul. 15, 2019 2:23 PM EDT

NEW YORK (AP) — Amazon's Prime Day is coming with a wave of deals — and protests. The company's fifth annual Prime Day now stretches two days, Monday and Tuesday, invented as an effort to try to drum up sales during sluggish summer months and sign up more users for its Prime loyalty program. The...

Trump signs order to make American-made goods more American

Jul. 15, 2019 2:09 PM EDT

WASHINGTON (AP) — President Donald Trump is requiring products "Made in America" to be made using more American components if they are to be used by the government. Trump says American-made products used for government projects currently can contain 50 percent foreign components and still be considered...

After years of plenty, auto workers want a bigger slice

Jul. 15, 2019 2:06 PM EDT

DEARBORN, Mich. (AP) — Contract talks between the United Auto Workers and Detroit's three automakers kicked off with the union president departing from the traditionally friendly tone by telling Ford executives that workers want a bigger share of the companies' record profits. While Ford executives talked...

Stocks edge lower as bank losses offset technology gains

Jul. 15, 2019 1:56 PM EDT

NEW YORK (AP) — Stocks edged lower in afternoon trading Monday on Wall Street as a decline in banks offset solid gains in technology companies. The losses follow record high finishes for every major stock index last week. The S&P 500 also pushed above 3,000 for the first time. JPMorgan and Bank of...

China's economy growth cools further amid US tariff war

Jul. 15, 2019 1:46 PM EDT

BEIJING (AP) — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%,...