Latest Business News

Report shows US deficit to exceed $1 trillion next year

Aug. 22, 2019 6:18 AM EDT

WASHINGTON (AP) — The federal budget deficit is expected to balloon to more than $1 trillion in the next fiscal year under the first projections taking into account the big budget deal that President Donald Trump and Congress reached this summer, the Congressional Budget Office reported. The return of $1...

Trump flip-flops on tax cuts, saying US has 'strong economy'

Aug. 22, 2019 6:12 AM EDT

WASHINGTON (AP) — A day after considering cutting taxes to promote economic growth, President Donald Trump changed course and said he would abandon the idea because the nation already had "a strong economy." Trump's flip-flop on Wednesday came after recent market volatility and economic uncertainty, and...

UK leader heads to Paris to press for fresh Brexit talks

Aug. 22, 2019 6:03 AM EDT

PARIS (AP) — Prime Minister Boris Johnson is likely to find little support for his drive to reopen Brexit negotiations when he meets with French President Emmanuel Macron on Thursday, the second stop on his first European tour as leader of the British government. Johnson was buoyed Wednesday by German...

S. Korea cancels Japan intelligence deal amid trade dispute

Aug. 22, 2019 6:00 AM EDT

SEOUL, South Korea (AP) — South Korea said Thursday it is canceling an intelligence-sharing pact with Japan amid a bitter trade dispute, a surprise announcement that is likely to set back U.S. efforts to bolster mutual security cooperation with two of its most important allies in the Asian region. The...

Crude oil to be sold from Strategic Petroleum Reserve

Aug. 22, 2019 5:19 AM EDT

NEW ORLEANS (AP) — Federal regulators plan to draw down and sell crude oil from Strategic Petroleum Reserve sites in Texas and Louisiana. The U.S. Department of Energy's Office of Fossil Energy on Wednesday announced a Notice of Sale from sites in Bryan Mound and Big Hill, Texas, and West Hackberry,...

Global stocks mixed after Wall Street rebound

Aug. 22, 2019 4:44 AM EDT

BEIJING (AP) — Global stock markets were mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

China warns US tariffs will 'escalate trade friction'

Aug. 22, 2019 4:26 AM EDT

BEIJING (AP) — China appealed to Washington on Thursday to "meet each other halfway" and settle a trade war instead of going ahead with planned tariff hikes Beijing warned will trigger retaliation. Exporters are preparing for a Sept. 1 increase in U.S. duties in a fight over trade and technology. Those are...

Off the hook: California king salmon rebounds after drought

Aug. 22, 2019 1:31 AM EDT

SAN FRANCISCO (AP) — Trolling off the California coast, Sarah Bates leans over the side of her boat and pulls out a long, silvery fish prized by anglers and seafood lovers: wild king salmon. Reeling in a fish "feels good every time," but this year has been surprisingly good, said Bates, a commercial...

Asian stocks mixed after Wall Street rebound

Aug. 22, 2019 12:21 AM EDT

BEIJING (AP) — Asian stock markets are mixed Thursday following Wall Street's rebound as investors looked ahead to a speech by the U.S. Federal Reserve chairman for clues about possible interest rate cuts. Investor reaction was muted following Wednesday's release of notes from the latest Fed meeting...

Oregon casino sports betting ready to open, state will delay

Aug. 22, 2019 12:15 AM EDT

PORTLAND, Ore. (AP) — An Oregon casino plans to begin offering sports betting ahead of the state lottery agency, which does not expect to meet its goal of starting by the time professional football kicks off. The Oregonian/OregonLive reported Wednesday that Chinook Winds Casino in Lincoln City expects to...