Latest Business News

Johnson urges clean Brexit, 2 years after UK vote to quit EU

Jun. 23, 2018 5:34 AM EDT

LONDON (AP) — Leading Brexit supporters are talking tough, and opponents are taking to the streets, on the second anniversary of Britain's vote to leave the European Union. Saturday marks two years since a June 23, 2016 referendum resulted in a decision to quit the 28-nation EU. Britain is due to leave the...

Xiaomi seeks to raise up to $6.1 billion in Hong Kong IPO

Jun. 23, 2018 5:22 AM EDT

SEOUL, South Korea (AP) — Xiaomi Corp. plans to raise up to $6.1 billion in one of the biggest global stock market debuts in recent years as it tries to become a worldwide brand alongside Apple, Google and Amazon. The initial public offering in Hong Kong would value the Beijing-based company at as much as...

Chicago Cubs owners in talks to purchase AC Milan

Jun. 23, 2018 4:25 AM EDT

MILAN (AP) — The Ricketts family that owns the Chicago Cubs says it is negotiating to purchase the debt-ridden AC Milan soccer team. The Milan office of the Edelman public relations firm, which has been hired to represent the Ricketts, says the entire family is interested in Milan for "a medium- to...

2 years on, Brexit vote has taken a toll on UK economy

Jun. 23, 2018 4:21 AM EDT

LONDON (AP) — While it's still unclear what Brexit will look like when it happens next year, the decision to leave has already had a clear effect on the economy: households are poorer, companies are more cautious about investing, and the property market has cooled. In the two years since the vote to leave...

Netflix's top spokesman fired over use of racial term

Jun. 23, 2018 1:36 AM EDT

SAN FRANCISCO (AP) — Netflix CEO Reed Hastings says he fired the company's top spokesman over use of the N-word. The spokesman, Jonathan Friedland, confirmed in tweets that he was leaving the company, saying he was insensitive in speaking with his team about words that offend in comedy. In a memo to...

BLM agrees to pay energy company $1.5M for canceled leases

Jun. 22, 2018 9:53 PM EDT

GRAND JUNCTION, Colo. (AP) — The Bureau of Land Management has agreed to pay SG Interests $1.5 million after the energy company sued over the cancellation of 18 oil and gas leases covering more than 30 square miles (78 square kilometers) in the Thompson Divide area in western Colorado. The undeveloped...

California lawmaker attacked over net neutrality decision

Jun. 22, 2018 9:23 PM EDT

SACRAMENTO, Calif. (AP) — A California lawmaker's decision to alter a net neutrality bill considered one of the nation's most aggressive efforts to require an equal playing field on the internet has generated intensely personal online attacks aimed at his family as well as criticism from fellow Democrats...

Portion of Kentucky bourbon warehouse collapses

Jun. 22, 2018 7:27 PM EDT

LOUISVILLE, Ky. (AP) — Thousands of whiskey barrels crashed into a massive heap Friday when a large section of a decades-old storage warehouse collapsed at a distillery in the heart of Kentucky bourbon country. The damaged warehouse at the Barton 1792 Distillery in Bardstown held about 18,000 barrels, and...

Police: Backup driver in fatal Uber crash was distracted

Jun. 22, 2018 7:11 PM EDT

PHOENIX (AP) — The human backup driver in an autonomous Uber SUV was streaming the television show "The Voice" on her phone and looking downward just before fatally striking a pedestrian in suburban Phoenix, according to a police report. The 300-page report released Thursday night by police in Tempe...

Canadian company moves to mine on lands cut from monument

Jun. 22, 2018 7:03 PM EDT

SALT LAKE CITY (AP) — A Canadian company's plans to mine for copper and cobalt on Utah lands that were cut from the Grand Staircase-Escalante National Monument by President Donald Trump are angering conservation groups that are suing to keep the lands under monument protection. Conservation and...