Latest Business News

This undated image provided by Cruise shows a rendering of an unorthodox electric vehicle called

GM's Cruise heads down new road with new robotaxi concept

Jan. 22, 2020 12:54 AM EST

SAN FRANCISCO (AP) — General Motors' self-driving car company will attempt to deliver on its long-running promise to provide a more environmentally friendly ride-hailing service in an unorthodox vehicle designed to eliminate the need for human operators to transport people around crowded cities. The...

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 22, 2020. Shares advanced in early Asian trading after a slide in U.S. stocks Tuesday as a virus outbreak in China rattled global markets. (AP Photo/Ahn Young-joon)

Asian shares higher after selloffs spurred by Chinese virus

Jan. 21, 2020 11:08 PM EST

Shares mostly rose in early Asian trading on Wednesday after a slide in U.S. stocks overnight as a virus outbreak in China rattled global markets. Japan's Nikkei 225 index climbed 0.6% to 24,013.15 and the Kospi in South Korea surged 0.8% to 2,256.95. In Hong Kong, the Hang Seng jumped 0.8% to 28,216.78. The...

UN report: 70% of world lives where inequality has grown

Jan. 21, 2020 9:23 PM EST

UNITED NATIONS (AP) — More than 70% of the world’s people live in countries where inequality has grown since 1990, including China and India, and growing inequalities are benefiting the wealthiest, a U.N. report said Tuesday. But increasing inequality is not a universal trend, the World Social...

Air bag woes force Honda, Toyota to recall 6M vehicles

Jan. 21, 2020 9:20 PM EST

DETROIT (AP) — Two different air bag glitches have forced Toyota and Honda to recall over 6 million vehicles worldwide, and both problems present different dangers to motorists. The Toyota recall affects about 3.4 million vehicles globally and is being done because the air bags may not inflate in a crash....

Derek Johnson and his attorney sit in the juror's box in the Pitkin County District Courtroom during his sentencing hearing in Aspen, Colo. on Tuesday, Jan. 21, 2020. Johnson was given 6 years in prison for stealing and selling equipment from Aspen Skiing Company. (Kelsey Brunner/The Aspen Times via AP)

Former Colorado ski company executive gets 6 years for theft

Jan. 21, 2020 7:58 PM EST

ASPEN, Colo. (AP) — A judge has sentenced a former Colorado ski company executive to six years in prison for stealing equipment and merchandise from the company and reselling the gear online for more than a decade. Former Aspen Skiing Company executive Derek Johnson was sentenced Tuesday with credit for...

FILE - This Oct. 8, 2019, file photo shows the Netflix app on an iPhone in New York. Netflix reports financial results Tuesday, Jan. 21, 2020. (AP Photo/Jenny Kane, File)

Netflix holds its own in the streaming wars - for now

Jan. 21, 2020 7:27 PM EST

SAN FRANCISCO (AP) — Netflix is holding its ground in the streaming wars, passing its first big test since Apple and Disney launched rival services. The company added 8.8 million worldwide subscribers during its fourth quarter, surpassing expectations at a time when it faces heated competition. Netflix had...

A notice explaining precautions to be taken by people traveling to Wuhan, China, is seen at a terminal of Rome's International Fiumicino airport, Tuesday, Jan. 21, 2020. Heightened precautions are being taken worldwide as a new strain of coronavirus has been infecting hundreds of people across the central Chinese metropolis. (AP Photo/Gregorio Borgia)

Airline, hotel stocks fall on fear about new virus in China

Jan. 21, 2020 7:23 PM EST

Airline and hotel shares fell Tuesday as fear grew about a virus that authorities say has killed six people and sickened 300 more, including at least one person in the U.S. The outbreak of the new type of coronavirus is believed to have started in Wuhan in central China. No U.S. airlines fly to Wuhan, but their...

UK lays out tough child data privacy rules

Jan. 21, 2020 7:02 PM EST

LONDON (AP) — Social media sites, games and other online services won’t be allowed to “nudge” British kids into revealing personal details or lowering their privacy settings, under tough new rules drawn up by the country’s privacy regulator. The set of standards aimed at...

New Jersey taxpayers have $8M tab for tax break task force

Jan. 21, 2020 6:51 PM EST

TRENTON, N.J. (AP) — The taxpayer tab for Gov. Phil Murphy's task force investigating corporate tax breaks has reached $8 million, according to invoices obtained by The Associated Press. Murphy, a Democrat, set up the task force last year after two state reports raised concerns about how business tax...

FILE - In this Dec. 25, 2019, file photo workers load baggage into a United Airlines plane at San Francisco International Airport in San Francisco. United Airlines reports financial results Tuesday, Jan. 21, 2020. (AP Photo/Jeff Chiu, File)

United Airlines boosts profit on more revenue, cheaper fuel

Jan. 21, 2020 6:33 PM EST

United Airlines reported Tuesday that higher revenue and cheaper fuel helped boost its fourth-quarter profit by nearly 40%, to $641 million. The airline's forecast of first-quarter earnings easily beat Wall Street expectations. It is not all clear sailing for United, however. The financial report came the same...