Business
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Global Shares Plunge: Worst Day Since '87
2020-03-13 02:06:33 UTC
<p>NEW YORK (AP) — Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. </p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...
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Bear Market: Dow dives more than 1,400 points
2020-03-11 20:19:29 UTC
<p>NEW YORK (AP) — Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. The Dow has now fallen 20% from its recent high, a...
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Twitter Strikes Deal with Silver Lake, Elliott to keep Jack Dorsey as CEO
2020-03-10 20:02:41 UTC
San Francisco — Twitter says it’s reached an investment deal with Silver Lake and Elliott Management that will keep Jack Dorsey as the social media company’s CEO.
Twitter Inc. said Monday that Silver Lake will make a $1 billion investment in the company. That money, along with cash on hand, is...
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Stocks Rise in Turbulent Trading a Day After Selloff
2020-03-10 19:47:33 UTC
NEW YORK (AP) — Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.
The S&P 500 surged as much as 3.7% in the morning and recouped nearly half its historic dr...
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You Don't Need a 20% Down Payment to Buy a Home in US
2020-03-10 19:48:35 UTC
Many Americans may be unnecessarily talking themselves out of homeownership. Thirty-seven percent of non-homeowners say not having enough saved for a down payment is holding them back from homeownership, but 62% of Americans incorrectly believe you have to have at least 20% of a home’s purchase p...
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Black Monday: Shock To Oil Also Rattled Stock Markets
2020-03-09 14:09:42 UTC
NEW YORK (AP) — Fear gripped financial markets around the world Monday as stock prices and bond yields plunge on worries about the effects of a new coronavirus.
The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were near...
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Coronavirus Fuels Dramatic Fall in Oil Price
2020-03-09 01:49:08 UTC
<p>NEW YORK (AP) — Oil prices are plunging as a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude.</p><p>Brent crude, the international standard, lost $9.50, or 20.1%, to $35.77 per barrel, as of 7:58 p.m. Eastern time on Sunday a...
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Publisher Cancels Woody Allen's Memoir After Staff Stage Walkout
2020-03-06 22:45:58 UTC
<p>NEW YORK (AP) — Woody Allen’s publisher has decided to cancel the planned release of his memoir “Apropos of Nothing.”</p><p>The announcement Friday by Hachette Book Group followed days of criticism focused on allegations that Allen sexually abused his daughter Dylan Far...
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Nothing Can Pull Markets Out From Undertow
2020-03-06 20:41:47 UTC
<p>NEW YORK (AP) — Stocks kept falling Friday, and bond yields took more breathtaking drops as a brutal, dizzying couple weeks of trading showed no sign of letting up. </p><p>Even a better-than-expected <a href="https://apnews.com/1d187742ff0d4a44bf235fd00c665fb7">report on U.S. jobs</...
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Dow Jones Falls Nearly 1,200 Points
2020-02-27 21:12:47 UTC
The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havov on the global economy. Bond prices soared again as investors sought safe places to park money, sending the yield on the 10-y...
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Data: US Economy Losing Momentum
2020-01-31 21:01:40 UTC
WASHINGTON Reuters - U.S. consumer spending rose steadily in December, but tepid income gains pointed to moderate consumption growth this year, which together with slumping business investment likely set the economy on a slower growth path this year.
While the report on Friday from the Commerc...
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Weak US Economic Data Weighs on Global Market
2019-10-03 16:56:45 UTC
NEW YORK (Reuters) - Weaker-than-expected U.S. economic data weighed on global financial markets on Thursday, leaving world equity benchmarks bouncing in choppy trading and sending investors into safe-haven assets on expectations of further Federal Reserve interest rate cuts.
The drop in the c...
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Attacks on Saudi Oil Field Knock Out Half of Its Output
2019-09-15 07:21:05 UTC
RIYADH/DUBAI/LONDON (Reuters) - Yemen’s Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, knocking out more than half the Kingdom’s output, in a move expected to send oil prices soaring and increase tensions in the Middle East.
The a...
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Recession Fears Escalate
2019-08-14 19:02:04 UTC
NEW YORK (Reuters) - Wall Street stumbled on Wednesday as investors fled equities for safe-haven assets, seeking shelter amid gathering signs that a recession could be on the horizon.
All three major U.S. indexes were sharply lower as short- and long-dated Treasury yields inverted for the firs...
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Russia Asks Google to Stop Advertising “Illegal Mass Events”
2019-08-11 16:07:42 UTC
MOSCOW (Reuters) - Russia’s state communications watchdog said on Sunday it had asked Google to stop advertising “illegal mass events” on its YouTube video platform.
Tens of thousands of Russians staged what observers called the country’s biggest political protest for eight years on Saturday, ...
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No-Deal Brexit Would Cause Severe Damage to UK
2019-07-29 03:42:16 UTC
A no-deal Brexit would cause “severe” damage to UK businesses, according to the Confederation of British Industry (CBI).
Carolyn Fairbairn, director general of the lobby group, told BBC that quitting the EU without an agreement should be an option “that is not even considered”. Claims that fir...
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Steve Jobs Design Chief to Start Own Firm
2019-06-28 00:58:11 UTC
(Reuters) - Jony Ive, a close creative collaborator with Apple Inc co-founder Steve Jobs whose iPhone and other designs fueled Apple’s rise to become a $1 trillion company, will leave later this year to form an independent design company.
Apple said Ive will continue work on its products at hi...
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Euro Hits Three-Month High Against US Dollar
2019-06-24 04:00:44 UTC
TOKYO (Reuters) - The euro rose to a three-month high against the dollar on Monday, as bearish bets on the U.S. currency remained solid on prospects of a near-term interest rate cut by the Federal Reserve.
The euro stretched its rally last week, up 1.4%, and advanced about 0.15% to $1.1386 in ...
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US Weekly Jobless Claims Rise; Imported Inflation Weak
2019-06-13 18:19:18 UTC
WASHINGTON (Reuters) - The number of Americans filing applications for unemployment benefits unexpectedly rose last week, which could add to concerns that the labor market was losing steam after job growth slowed sharply in May.
Other data on Thursday showed import prices fell by the most in f...
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Hunt for Shoppers: Luxury Brands Raising Stakes on Instagram
2019-06-07 16:10:35 UTC
PARIS (Reuters) - Big-spending luxury brands like Gucci, Louis Vuitton and Christian Dior are splashing out on everything from dance-fuelled fashion shows to teams of advisers as they target social media platforms in the hunt for young shoppers.
Without the entry barriers of magazine advertisi...
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Toyota Speeds Up Electric Vehicle Schedule
2019-06-07 15:52:16 UTC
TOKYO (Reuters) - Toyota Motor Corp aims to get half of its global sales from electrified vehicles by 2025, five years ahead of schedule, and will tap Chinese battery makers to meet the accelerated global shift to electricity-powered cars.
The change illustrates the breakneck growth in the ele...
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Apple wants its login button above Google and Facebook
2019-06-05 05:23:38 UTC
(Reuters) - Apple Inc will ask developers to position a new “Sign on with Apple” button in iPhone and iPad apps above rival buttons from Alphabet Inc’s Google and Facebook Inc, according to design guidelines released this week.
The move to give Apple prime placement is significant because user...
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Elon Musk Says Tesla deliveries Set to Top Record
2019-05-23 15:41:53 UTC
(Reuters) - Tesla Inc is on course to top its record for quarterly deliveries in the second quarter, beating the 90,700 it sent to customers in the final quarter of last year, according to an email from Chief Executive Officer Elon Musk to staff.
Musk’s email, widely posted on social media and...
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Dutchman Travels Across 33 Countries on Electric Car
2019-04-18 22:49:36 UTC
Dutchman Wiebe Wakker on Sunday ended a 95,000 kilometer (59,000 mile) electric car journey that he hoped would show the world the viability of such vehicles.
Wakker arrived in the eastern Australian city of Sydney after driving his retrofitted station wagon nicknamed "The Blue Bandit" across 33...
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Restaurant Dishes Labeled Gluten-Free Often Are Not
2019-04-02 22:07:57 UTC
For people with celiac disease, even tiny amounts of gluten in foods can cause trouble, and restaurants may be the hardest places to avoid the hidden protein, a U.S. study suggests.
More than half of gluten-free pizza and pasta dishes tested in restaurants were positive for the presence of glu...