Business

Amazon's Plans to Advance Its Interests in California Laid Bare in Leaked Memo

NEW YORK (AP) — An internal Amazon memo has provided a stark look at the company’s carefully laid out plans... Read More

NEW YORK (AP) — An internal Amazon memo has provided a stark look at the company’s carefully laid out plans to grow its influence in Southern California through a plethora of efforts that include burnishing its reputation through charity work... Read More

2023-12-04 22:30:04
by Dan McCue
Justices Appear Divided Over Purdue Pharma Bankruptcy Deal

WASHINGTON — The Supreme Court appeared divided on Monday over a bankruptcy deal struck by Purdue Pharma that would immunize... Read More

WASHINGTON — The Supreme Court appeared divided on Monday over a bankruptcy deal struck by Purdue Pharma that would immunize the Sackler family, its one-time owners, from civil lawsuits for their role in the opioid crisis.  The closely watched case is... Read More

2023-11-30 16:47:15
by Dan McCue
New York Appellate Court Reinstates Trump Gag Orders

NEW YORK — A New York appeals court panel on Thursday reinstated a pair of gag orders issued in Donald... Read More

NEW YORK — A New York appeals court panel on Thursday reinstated a pair of gag orders issued in Donald Trump’s civil fraud trial that barred the former president from speaking publicly about the judge’s court staff. The two-page decision... Read More

Mayo Clinic Announces $5B Expansion of Minnesota Campus

MINNEAPOLIS (AP) — The Mayo Clinic announced a $5 billion expansion plan for its flagship campus Tuesday that includes new... Read More

MINNEAPOLIS (AP) — The Mayo Clinic announced a $5 billion expansion plan for its flagship campus Tuesday that includes new buildings designed so they can evolve and expand as patient needs change over the coming decades. The project is part... Read More

Broadcom Planning to Complete Deal for $69B Acquisition of VMWare After Regulators Give OK

SAN JOSE, California (AP) — Computer chip and software maker Broadcom has announced it has cleared all regulatory hurdles and... Read More

SAN JOSE, California (AP) — Computer chip and software maker Broadcom has announced it has cleared all regulatory hurdles and plans to complete its $69 billion acquisition of cloud technology company VMware on Wednesday. The company, based in San Jose,... Read More

2023-11-15 17:04:36
by Dan McCue
Firm Drops Plans to Manufacture Offshore Wind Turbines in Virginia

PORTSMOUTH, Va. — Siemens Gamesa, the German-Spanish wind engineering company, will not be building a planned $200 million factory to... Read More

PORTSMOUTH, Va. — Siemens Gamesa, the German-Spanish wind engineering company, will not be building a planned $200 million factory to manufacture offshore wind turbine blades in Virginia after all. The massive facility, which had been projected to create more than... Read More

2023-11-13 20:47:26
by Dan McCue
Swedish Truck Maker to Buy Bankrupt EV Battery Maker

GOTHENBURG, Sweden — Swedish truck maker Volvo Group said it has prevailed in a bankruptcy auction for a failed EV... Read More

GOTHENBURG, Sweden — Swedish truck maker Volvo Group said it has prevailed in a bankruptcy auction for a failed EV battery manufacturer that once planned to make batteries for thousands of electric trucks, buses and vans at a factory in... Read More

Offshore Wind Project Cancellations Jeopardize Biden Clean Energy Goals

WASHINGTON (AP) — The cancellation of two large offshore wind projects in New Jersey is the latest in a series... Read More

WASHINGTON (AP) — The cancellation of two large offshore wind projects in New Jersey is the latest in a series of setbacks for the nascent U.S. offshore wind industry, jeopardizing the Biden administration’s goals of powering 10 million homes from... Read More

Business Group Estimates Several Hundred Thousand Clean Energy Jobs in EV, Storage and Solar

A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major... Read More

A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022. At least $86 billion in investments have been announced,... Read More

Autoworkers Reach Deal With Ford, a Breakthrough Toward Ending Strikes Against Automakers

DETROIT (AP) — The United Auto Workers union said Wednesday it has reached a tentative contract agreement with Ford that... Read More

DETROIT (AP) — The United Auto Workers union said Wednesday it has reached a tentative contract agreement with Ford that could be a breakthrough toward ending the nearly 6-week-old strikes against Detroit automakers. The four-year deal, which still has to... Read More

Wall Street Rises After Corporate Profits Top Forecasts and Oil Prices Sink

NEW YORK (AP) — Wall Street is rising Tuesday after Verizon, General Electric and other big companies reported fatter profits... Read More

NEW YORK (AP) — Wall Street is rising Tuesday after Verizon, General Electric and other big companies reported fatter profits for the summer than expected. The S&P 500 was 0.8% higher in midday trading and on track to break a... Read More

UAW Strikes at General Motors SUV Plant in Texas

DETROIT (AP) — The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off... Read More

DETROIT (AP) — The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV factory in Arlington, Texas. The move comes just a day after the... Read More

2023-10-23 14:16:39
by Dan McCue
Pharmacists Stage Walkouts Over Working Conditions, More Protests Possible

WASHINGTON — Pharmacists at dozens of Walgreens and CVS locations across the U.S. have staged walkouts this month to protest... Read More

WASHINGTON — Pharmacists at dozens of Walgreens and CVS locations across the U.S. have staged walkouts this month to protest what they say are unsafe working conditions in their pharmacies. And more could be on the way, say organizers of... Read More

2023-10-22 21:50:36
by Kate Michael
EEOC Chair Calls AI ‘New Civil Rights Frontier’

WASHINGTON — Companies thinking about using AI to take advantage of efficiencies in the hiring process were put on notice... Read More

WASHINGTON — Companies thinking about using AI to take advantage of efficiencies in the hiring process were put on notice earlier this year when the U.S. Equal Employment Opportunity Commission settled its first-ever AI discrimination-in-hiring lawsuit, reaching an agreement with... Read More

2023-10-22 21:49:17
by Dan McCue
Developer Nixes $3.5B Carbon Capture Pipeline

OMAHA, Neb. — The developer of a proposed $3.5 billion carbon capture pipeline expected to run through four mid- and... Read More

OMAHA, Neb. — The developer of a proposed $3.5 billion carbon capture pipeline expected to run through four mid- and upper-midwestern states, summarily canceled the project on Friday, citing "the unpredictable nature of the regulatory and government processes involved." The... Read More

2023-10-19 21:26:18
by Dan McCue
FCC Votes to Advance Bid to Restore Net Neutrality

WASHINGTON — The Federal Communications Commission voted on Thursday to proceed with a proposal to restore net neutrality and at... Read More

WASHINGTON — The Federal Communications Commission voted on Thursday to proceed with a proposal to restore net neutrality and at the same time, potentially, broaden the agency’s reach. The 3-2 party-line vote — with all Democratic commissioners voting in favor... Read More

Stock Market Today: Wall Street Claws Back From Morning Loss to Mostly Rise

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though... Read More

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking. The S&P 500 was 0.2% higher in midday trading after erasing an... Read More

Rite Aid Seeks Chapter 11 Bankruptcy Protection as It Deals With Lawsuits and Losses

Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure... Read More

Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits. The drugstore chain said late Sunday it also has obtained $3.45 billion in... Read More

Exxon Mobil Buys Pioneer Natural Resources in $59.5B Deal

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring... Read More

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion... Read More

2023-10-03 21:29:55
by Tom Ramstack
Senate Tries to Crack Down on Online Counterfeit Sellers

WASHINGTON — The U.S. Senate is considering a bill that would force some of the same liabilities faced by brick-and-mortar... Read More

WASHINGTON — The U.S. Senate is considering a bill that would force some of the same liabilities faced by brick-and-mortar retailers onto online platforms. The problem is counterfeits. Online retail platforms like eBay and Ali Baba might sell products with... Read More

California Gov. Gavin Newsom Signs Law to Raise Minimum Wage for Fast Food Workers

SACRAMENTO, Calif. (AP) — California fast food workers will be paid at least $20 per hour next year under a... Read More

SACRAMENTO, Calif. (AP) — California fast food workers will be paid at least $20 per hour next year under a new law signed Thursday by Democratic Gov. Gavin Newsom. When it takes effect on April 1, fast food workers in... Read More

Amazon Sued by FTC and 17 States Over Allegations It Inflates Prices and Overcharges Sellers

Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in... Read More

Amazon is being sued by U.S. regulators and and 17 states over allegations that the company abuses its position in the marketplace to inflate prices on other platforms, overcharge sellers and stifle competition. The lawsuit, filed Tuesday in U.S. District... Read More

2023-09-25 20:03:11
by Dan McCue
Oneok Completes Purchase of Petroleum Pipeline Firm

TULSA, Okla. — In a sign of the changing respective times for the oil and gas sectors in North America, Oneok,... Read More

TULSA, Okla. — In a sign of the changing respective times for the oil and gas sectors in North America, Oneok, Inc., a major player in natural gas, on Monday completed its purchase of Magellan Midstream Partners, a company with access... Read More

Strikes Against Automakers Spread to 38 Locations, 20 States Targeting Stellantis and GM

The president of the United Auto Workers said Friday the union will expand its strike against major automakers by walking... Read More

The president of the United Auto Workers said Friday the union will expand its strike against major automakers by walking out of 38 General Motors and Stellantis facilities in 20 states. The UAW on Friday targeted distribution centers, not production... Read More

2023-09-20 19:07:55
by Dan McCue
Retailers Expect Record Year for Halloween Sales

WASHINGTON — Total Halloween spending could reach a record $12.2 billion this year, significantly outpacing last year’s record $10.6 billion... Read More

WASHINGTON — Total Halloween spending could reach a record $12.2 billion this year, significantly outpacing last year’s record $10.6 billion in sales, according to a survey conducted for the National Retail Federation. The annual market appraisal, which was performed on... Read More

Governors From Arizona, New Mexico Seek Stronger Economic Ties With Taiwan

SANTA FE, N.M. (AP) — Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes... Read More

SANTA FE, N.M. (AP) — Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes of attracting new foreign investments and jobs to their landlocked states. Trade missions this week have taken New Mexico. Gov.... Read More

Workers Strike Three Detroit Automakers in Battle For a Bigger Share of Industry Profits

DETROIT (AP) — About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t... Read More

DETROIT (AP) — About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t bridge a giant gap between union demands in contract talks and what Detroit’s three automakers are willing to pay. Members... Read More

2023-09-13 20:24:53
by Dan McCue
Amazon Invests in Direct Air Capture of Carbon Emissions

SEATTLE — Amazon said Tuesday that it is making two sizable investments intended to further both the development of direct... Read More

SEATTLE — Amazon said Tuesday that it is making two sizable investments intended to further both the development of direct air capture technologies to scrub the atmosphere of harmful carbon and its own goal to reach net-zero carbon emissions by... Read More

Higher Investment Means Hyundai Could Get $2.1B in Aid to Make EVs in Georgia

SAVANNAH, Ga. (AP) — The state of Georgia and local governments are on track to give $2.1 billion in tax... Read More

SAVANNAH, Ga. (AP) — The state of Georgia and local governments are on track to give $2.1 billion in tax breaks and other incentives to Hyundai Motor Group after the South Korean automaker and a partner announced last month that it will... Read More

Google's Search Dominance Challenged in Biggest Antitrust Trial in Decades

WASHINGTON (AP) — Google has exploited its dominance of the internet search market to lock out competitors and smother innovation,... Read More

WASHINGTON (AP) — Google has exploited its dominance of the internet search market to lock out competitors and smother innovation, the Department of Justice charged Tuesday at the opening of the biggest U.S. antitrust trial in a quarter century. “This... Read More

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