Business

Divided Supreme Court sides with businesses over workers

Supreme Court Arbitration

The Supreme Court says employers can prohibit their workers from banding together to complain about...

Business

Biopharma deploying Trump windfall to buy back billions in stock

(c) 2018, Bloomberg. Drugmakers, whose industry pricing faced renewed scorn this month from President Donald Trump, have been taking advantage of the U.S. tax overhaul he signed last year to buy back shares of their own underperforming stocks. Large-cap biopharmaceutical companies took advantage of...


Business

For CEOs, $11.7 million a year is just middle of the pack

CEO Pay

NEW YORK (AP) — Chief executives at the biggest public companies got an 8.5 percent raise last year, bringing the median pay package for CEOs to $11.7 million. Across the S&P 500, compensation for CEOs is often hundreds of times higher than typical workers. The pay increase matches the bump that...


Business

Markets Right Now: Energy stocks pull indexes mostly lower

Financial Markets Wall Street

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Stocks are mostly lower as energy companies sink following reports OPEC countries plan to produce more oil soon. Chevron lost 3.8 percent Friday and Exxon Mobil gave up 2.4 percent. Airlines climbed as...


Business

APNewsBreak: Tesla in Autopilot mode sped up before crashing

Tesla Crash Utah

SALT LAKE CITY (AP) — A Tesla that crashed while in Autopilot mode in Utah this month accelerated in the seconds before it smashed into a stopped firetruck, according to a police report obtained by The Associated Press. Two people were injured. Data from the Model S electric vehicle show it picked...


Business

AP Top Business News at 12:05 p.m. EDT

The Latest: Weinstein takes books on theater, film to arrest Fed Chair Powell stresses importance of an independent Fed APNewsBreak: Tesla in Autopilot mode sped up before crashing US durable goods orders drop but key category shows strength Amid confusion, EU data privacy law goes into effect The...


National

Oil prices and energy companies tumble; other stocks rise

Financial Markets Wall Street

NEW YORK (AP) — Energy companies and oil prices are sinking again Friday morning on reports OPEC countries plan to produce more oil soon. Overall U.S. stocks are slightly lower as falling bond yields put pressure on banks, but they are helping dividend-payers like household goods makers. Airlines...


Business

Fed Chair Powell stresses importance of an independent Fed

Federal Reserve Powell

Federal Reserve Chairman Jerome Powell warned Friday that the Fed’s independence from political pressure must be respected if it is to succeed in controlling inflation, maximizing employment and regulating the financial system. His remarks Friday came after Kevin Warsh, a former Fed official who...


Business

US durable goods orders drop but key category shows strength

Durable Goods

WASHINGTON (AP) — Orders for long-lasting manufactured goods fell in April amid weaker demand for aircraft. But a key category that tracks business investment rose after sliding in March — a sign of health for American industry. The Commerce Department says U.S. orders for durable goods —...


Business

Russia's ex-US envoy: Trump wants better ties with Russia

Russia Economic Forum

ST. PETERSBURG, Russia (AP) — “Toxic” political infighting is preventing U.S. President Donald Trump from improving relations with Moscow, Russia’s former ambassador in the United States and a long-time Trump campaign contact told The Associated Press on Friday. Ties between the two countries have...


Business

London police seize bitcoin worth $667,000 from hacker

LONDON (AP) — London police have seized half a million pounds ($667,000) worth of bitcoin from a prolific computer hacker in a case described as the first of its kind for the 188-year-old department. Cybercrime detectives seized the bitcoin from Grant West, 26, who was sentenced to 10 years and 8...


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