• Business

China media accuses US of plot to ‘colonize global business’

Business 05/24/19, 01:57

China's state media has unleashed fresh attacks on the U.S. as the tariff war between world's two largest economies continues. The China Daily newspaper on Friday accused Washington of seeking to "colonize global business" by targeting Chinese firms. The Global Times accused the U.S. of "hegemonic hubris" and launching a "global assault" ...

Asia shares retreat on fears China-US trade row might spread

Business 05/23/19, 23:15

Asian shares were mostly lower on Friday as worries that the standoff between the U.S. and China over trade might expand put investors in a selling mood. Japan's benchmark Nikkei 225 fell 0.5% to 21,053.95. Australia's S&P/ASX 200 lost 0.7% at 6,445.40. South Korea's Kospi dropped 0.9% to 2,040.81. Hong Kong's ...

Oregon passes bill to keep guns from stalkers and abusers

Business 05/23/19, 19:25

Democrats in the Oregon Legislature pushed through a gun control bill Thursday after they sacrificed a more sweeping one — to the ire of student activists — in a deal with minority Republicans.The bill senators passed 25-3 on Thursday is aimed at keeping guns out of the hands of domestic ...

Philip Morris responds to Brazil lawsuit over health costs

Business 05/23/19, 16:31

A multinational tobacco company issued a response on Thursday after Brazil's attorney general filed a lawsuit seeking to recover costs by the public health care system in treating smoking-related illnesses.The suit filed Tuesday against Philip Morris International and British American Tobacco seeks to recuperate losses over the last five years ...

Number of US homes on the market rose in 1Q as sales slowed

Business 05/23/19, 14:46

Homebuyers in Salt Lake City, Atlanta and other big U.S. metropolitan areas are seeing a pickup in the number of homes for sale, especially in the most affordable segment of the market.In Atlanta, for example, the number of homes for sale jumped 18.9% to 33,836 in the first quarter. That's ...

General strike slows commerce in Nicaragua

Business 05/23/19, 11:27

A general strike called by Nicaragua's opposition to demand the release of political prisoners is having mixed effects.Small businesses, some supermarkets and private schools were closed in the capital on Thursday. But pharmacies and gas stations were open. Traffic was lighter than usual, with many private vehicles off the roads, ...

Pot backers ask Maine to put locals, small businesses first

Business 05/23/19, 11:25

Maine's marijuana enthusiasts used a public hearing on Thursday to implore the state to protect the small businesses and growers they think should make up the backbone of the state's budding cannabis industry.The Maine Office of Marijuana Policy held the public hearing about the state's draft marijuana rules, which are ...

Facebook removes 3B fake accounts, but how many missed?

Business 05/23/19, 11:15

Facebook removed more than 3 billion fake accounts from October to March, twice as many as the previous six months, the company said Thursday.Nearly all of them were caught before they had a chance to become "active" users of the social network.Nonetheless, Facebook's new report didn't say how many fake ...

Tesla shares bounce on leaked memo about rising sales

Business 05/23/19, 10:09

Shares of Tesla, suffering one of the worst stretches in company history, rebounded Thursday after CEO Elon Musk told employees that orders are up.The gyrations Thursday were indicators of a volatile day for the shares, which have shed about 60% of their value in three weeks and are trading at ...

US long-term mortgage rates slip; 30-year average at 4.06%

Business 05/23/19, 09:47

U.S. long-term mortgage rates fell slightly this week, marking a fourth straight week of declines to lure prospective purchasers in the spring homebuying season.Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage slipped to 4.06% from 4.07% last week. By contrast, a year ago the benchmark ...

US new-home sales fell 6.9% in April

Business 05/23/19, 09:05

Sales of new U.S. homes sank 6.9% in April, driven by a decline in the sale of homes worth less than $300,000 that are generally bought by middle class and first-time buyers.The Commerce Department said Thursday that new homes sold at a seasonally adjusted annual rate of 673,000 in April, ...

Markets Right Now: Stocks open sharply lower on trade fears

Business 05/23/19, 08:48

The latest on developments in financial markets (all times local):9:35 a.m.Stocks are falling at the open on Wall Street as investors worry about an apparent stalemate in trade talks between the U.S. and China.A spokesman for China's Foreign Ministry said Thursday that China is open to more talks on trade. ...

Deutsche Bank ready for more cuts as share price sags

Business 05/23/19, 05:32

The CEO of Deutsche Bank says he is ready to make "tough cuts" as he aims to strengthen the struggling bank's profitability and raise a "disappointing" share price. Christian Sewing made the statement Thursday in front of restive shareholders at the bank's annual meeting in Frankfurt, Germany. Sewing touted the bank's full-year ...

Former Nissan chairman Ghosn appears in Tokyo court

Business 05/23/19, 03:51

Nissan's former chairman, Carlos Ghosn, appeared in a Japanese courtroom Thursday for a hearing ahead of his trial on accusations of financial misconduct.It was the first of a series of hearings to iron out logistics for Ghosn's actual trial. The trial date has not been set, and experts say it ...

China has more weapons in US tariff war, but do they work?

Business 05/23/19, 01:56

Looking for ways to hit back at Washington as a tariff fight escalates, President Xi Jinping and his economy czar visited a Chinese factory that processes rare earths — exotic minerals used in electric cars, mobile phones and other technology. Rare earths are "an important strategic resource," the official Xinhua News ...

Asian shares slip as US-China spat takes center stage

Business 05/23/19, 01:45

Asian markets were broadly lower on Thursday as traders focused on tensions between the U.S. and China and braced for the impact of their tariff hikes. The Shanghai Composite index retreated 1.2% to 2,858.21 and Hong Kong's Hang Seng tumbled 1.6% to 27,264.42. The Kospi in South Korea was 0.3% lower ...

Making history: Rihanna launches brand Fenty in Paris store

Business 05/23/19, 00:28

Rihanna, the first black woman in history to head up a major Parisian luxury house, is unveiling her first fashion designs for Fenty at a pop-up store in Paris.The collection, named after the singer-turned-designer's last name, comprises ready-to-wear, footwear, accessories, and eyewear and is available for sale Paris' Le Marais ...

Asian shares slip as US-China spat takes center stage

Business 05/22/19, 22:35

Asian markets were broadly lower on Thursday as traders focused on tensions between the U.S. and China and braced for the impact of their tariff hikes. The Shanghai Composite index retreated 0.6% to 2,873.70 and Hong Kong's Hang Seng tumbled 1.2% to 27,376.69. The Kospi in South Korea was 0.2% lower ...

Mnuchin says Tubman $20 bill design delayed past 2020

Business 05/22/19, 21:16

Treasury Secretary Steven Mnuchin said Wednesday the redesign of the $20 bill to feature 19th century abolitionist leader Harriet Tubman has been delayed. The decision to replace Andrew Jackson, the nation's seventh president, with Tubman on the $20 bill had been made by Mnuchin's predecessor, former Treasury Secretary Jacob Lew, who ...

Nicaragua warns banks of sanctions if they join strike

Business 05/22/19, 16:23

Nicaragua's finance minister warned banks Wednesday that the government will sanction those that participate in a general strike scheduled for Thursday to pressure for the freeing of political prisoners.Iván Acosta said the banking system has a responsibility to the public sector to be open because it is regulated by the ...