Latest Business News

US new-home sales fell 6.9% in April

May. 23, 2019 10:05 AM EDT

WASHINGTON (AP) — Sales of new U.S. homes sank 6.9% in April, driven by a decline in the sale of homes worth less than $300,000 that are generally bought by middle class and first-time buyers. The Commerce Department said Thursday that new homes sold at a seasonally adjusted annual rate of 673,000 in...

US new-home sales slumped 6.9% in April; sales of homes deemed affordable for middle class source of decline

May. 23, 2019 10:02 AM EDT
WASHINGTON (AP) — US new-home sales slumped 6.9% in April; sales of homes deemed affordable for middle class source of decline.

Analyst predicts more trouble for Tesla amid stock drop

May. 23, 2019 10:01 AM EDT

Shares of Tesla opened lower Thursday, a day after an influential analyst raised questions about demand for its electric vehicles and told investors that Tesla could become a restructuring story. Stock in the Palo Alto, California, company fell 3% after the opening bell to $186.97, its lowest level since February...

European Central Bank more concerned about growth rebound

May. 23, 2019 9:54 AM EDT

FRANKFURT, Germany (AP) — Officials at the European Central Bank at their last meeting had grown more concerned about chances for a return to stronger economic growth in the second half of the year as they underlined their readiness to deploy more stimulus if needed. The written account of the April 10...

Mexico official says former Pemex chief was sanctioned

May. 23, 2019 9:48 AM EDT

MEXICO CITY (AP) — The head of Mexico's financial intelligence unit says that a former executive at the state-owned oil company who was sanctioned this week by the comptroller's office is Pemex's former director Emilio Lozoya. Santiago Nieto investigates financial crimes at Mexico's finance ministry and he...

Markets Right Now: Stocks open sharply lower on trade fears

May. 23, 2019 9:48 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. Stocks are falling at the open on Wall Street as investors worry about an apparent stalemate in trade talks between the U.S. and China. A spokesman for China's Foreign Ministry said Thursday that China is open to...

The Latest: Pakistan PM congratulates Modi on India election

May. 23, 2019 9:17 AM EDT

NEW DELHI (AP) — The Latest on India's general elections results (all times local): 6:45 p.m. Pakistani Prime Minister Imran Khan has congratulated his Indian counterpart for success in a massive general election. With early election results showing Prime Minister Narendra Modi and his Hindu nationalist...

China has more weapons in US tariff war - but do they work?

May. 23, 2019 8:34 AM EDT

BEIJING (AP) — Looking for ways to hit back at Washington as a tariff fight escalates, President Xi Jinping and his economy czar visited a Chinese factory that processes rare earths - exotic minerals used in electric cars, mobile phones and other technology. Rare earths are "an important strategic...

China says door open to trade talks, but slams tech controls

May. 23, 2019 7:56 AM EDT

BEIJING (AP) — China held the door open to resuming talks in the tariff war with Washington on Thursday, but lashed out at limits on access to key technologies that it said might hurt global supply chains. Foreign Ministry spokesman Lu Kang said China hopes to restart the talks that broke down earlier this...

Germany's Bosch fined $100 million over diesel scandal

May. 23, 2019 7:28 AM EDT

BERLIN (AP) — German prosecutors have fined auto parts and technology company Bosch 90 million euros ($100 million) over its role in the diesel emissions scandal that erupted at Volkswagen in 2015. Prosecutors in Stuttgart said Thursday that the company, formally called Robert Bosch GmbH, was fined for a...