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US budget deficit for 11 months up $169 billion over 2018

WASHINGTON (AP) — The U.S. government's budget deficit increased by $169 billion to $1.07 trillion in the first 11 months of this budget year as spending grew faster than tax collections. The Treasury Department reports that the deficit for August totaled $200 billion, compared to $214 billion in August 2018.

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Some states say they'll keep fighting Purdue Pharma in court

HARTFORD, Conn. (AP) — Critics are saying that a tentative settlement reached Wednesday between the maker of OxyContin and thousands of local governments and more than 20 states doesn't do enough to hold Purdue Pharma responsible or provide enough money. The agreement could be worth up to $12 billion over time and includes future profits for the company, the value of overdose antidotes it's developing and cash payments of $3 billion to $4.5 billion from the Sacklers, the family that owns Purdue Pharma — the Sacklers.

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The Fed and ECB aim to avoid downturns but with limited ammo

WASHINGTON (AP) — The Federal Reserve and the European Central Bank are struggling mightily to invigorate their economies at a time when growth is slowing, governments are on the sidelines and the banks' usual monetary tools appear less effective than in the past. On Thursday, the ECB delivered a blast of monetary stimulus to try to rescue Europe's teetering economy. The Fed is set to follow with its own stimulative move next week — its second modest interest-rate cut of the year.

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Johnson denies lying to queen, wins Brexit court case

LONDON (AP) — The British government insists its forecast of food and medicine shortages, gridlock at ports and riots in the streets if there is a no-deal Brexit is an avoidable worst-case scenario. Prime Minister Boris Johnson, meanwhile, denies misleading Queen Elizabeth II about his reasons for suspending Parliament, and a Belfast court has rejected claims his Brexit strategy will harm Northern Ireland's peace process.

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Mint, menthol: Vape industry has dug heels in on flavor bans

AUGUSTA, Maine (AP) — Efforts to ban flavored e-cigarettes and reduce their appeal to youngsters have sputtered under industry pressure in over a half-dozen states this year. The industry and its lobbyists urged lawmakers to leave mint and menthol alone. A proposed ban that President Donald Trump outlined Wednesday would supersede any state inaction and includes a ban on mint and menthol. Industry giant Juul Labs Inc. now says "we will fully comply with the final FDA policy when effective."

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Trump administration drops Obama-era water protection rule

TRAVERSE CITY, Mich. (AP) — The Trump administration has revoked an Obama-era regulation that shielded many U.S. wetlands and streams from pollution. The Waters of the United States rule was opposed by developers and farmers who said it hurt economic development and infringed on property rights. Environmental groups are criticizing the administration's action. It's the latest in a series of moves to roll back environmental protections put into place under President Barack Obama.

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Senate approves Trump nominee Bowman for Federal Reserve

WASHINGTON (AP) — The Senate has confirmed President Donald Trump's nominee Michelle Bowman to serve a full 14-year term on the seven-member Federal Reserve board. Bowman was approved on a 60-31 vote, winning the support of 49 Republicans and 11 Democrats. Only one Republican, Sen. Rand Paul of Kentucky, joined Democrats voting no.

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UAW official in Missouri charged in wide corruption probe

DETROIT (AP) — A Missouri-based official at the United Auto Workers has been charged in Detroit with corruption in an alleged scheme to embezzle union money and also spend cash on golf, cigars, golf clubs and swanky stays in California. Vance Pearson of St. Charles, Missouri, was arrested Thursday. He is director of UAW's Region 5, which covers thousands of union members in more than a dozen states. Pearson is the 10th person charged in an investigation of union finances.

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Facebook expands new tool aiming to shrink 'news deserts'

SAN FRANCISCO (AP) — Facebook is trying to water "news deserts" with the expansion of a tool that provides people with local news and information. It's expanding its "Today In" service to 6,000 cities and towns across the U.S., up from 400 previously. Facebook confesses that it still has a lot to learn.

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DC's free commuter paper ends run with shot at smart phones

WASHINGTON (AP) — Washington's daily free commuter newspaper, Express, is shutting down after 16 years. The Washington Post shut down Express on Thursday, one day after informing staff of the decision. Dan Caccavaro, the only editor in chief the paper has known, blames changing consumer habits. He says it became increasingly rare to see subway riders reading the Express or anything else printed on actual paper. The publication had once been a steady profit generator, but barely broke even last year.

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The S&P 500 index rose 8.64 points, or 0.3%, to 3,009.57. The Dow Jones Industrial Average gained 45.41 points, or 0.2%, to 27,182.45. The Nasdaq added 24.79 points, or 0.3%, to 8,194.47. The Russell 2000 index of smaller company stocks slipped 0.65 of a point to 1,575.07.

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ABC News: Money

Slow progress reported in talks as GM strike New! 2019-09-18 08:50:14Union and company bargainers were making progress toward a new contract as a strike by United Auto Workers brought 33 General Motors factories to a ha

The Latest: Slow progress in talks as GM New! 2019-09-18 08:47:28Union and company bargainers were making progress toward a new contract as a strike by United Auto Workers brought 33 General Motors factories to a ha

US home building climbs 12.3% in August to New! 2019-09-18 08:40:53US home building climbs 12.3% in August to highest level since 2007

Surge in apartment construction lifts US home building New! 2019-09-18 08:32:11Surge in apartment construction lifts US home building 12.3% in August to highest level since June 2007

The Latest: NY Fed enters overnight lending markets, New! 2019-09-18 08:16:57For the second time in as many days, New York Fed steps in to free up billions of dollars to avert spiking overnight borrowing costs

Global stocks mixed after oil falls, Wall Street New! 2019-09-18 06:53:57European stocks higher, Asia mixed after crude prices fall, Wall Street advances

UK envoy tips trade deal with Australia months 2019-09-18 03:42:43Britain's top trade envoy says she expects to strike a free trade deal with Australia within months after leaving the European Union

Cash-starved Air India putting crews on low-fat diet 2019-09-18 03:32:48Cash-starved Air India is putting its crew on a diet, changing inflight menu to special low-fat meals

Japan exports sink on weaker trade with China, 2019-09-18 03:14:41Japan reports its exports fell 8% in August from a year earlier as trade tensions took a growing toll on demand across the region

China releases stockpiled pork to cool price surge 2019-09-18 02:30:09China releases stockpiled pork to cool price surge ahead of Oct. 1 celebration of Communist Party's 70th anniversary in power

South Korea confirms 2nd case of African swine 2019-09-18 02:02:28South Korea has confirmed a second case of African swine fever near its border with North Korea, raising concerns that the outbreak could spread and w

Fed likely to cut rates a 2nd time 2019-09-18 00:06:13Fed appears likely to cut rates for a 2nd time as Trump trade war and other threats loom

Reuters: Business News

Oil steps back on Saudi supply reassurance, focus 2019-09-17 23:05:10Oil prices cooled on Wednesday as Saudi Arabia said full oil production would be restored by month's end while caution ahead of an expected U.S. inte

Saudi oil attacks came from southwest Iran, U.S. 2019-09-17 22:49:00The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told R

Guggenheim's Minerd says aggressive Fed moves can delay 2019-09-17 22:25:26Guggenheim Partners global chief investment officer Scott Minerd warned on Tuesday the firm's recession forecast model showed a 58% chance of the eco

Costly Saudi defenses prove no match for drones, 2019-09-17 22:19:38Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match

French President Macron calls Saudi crown prince on 2019-09-17 22:19:13The Saudi Arabian Crown Prince Mohammed bin Salman received a phone call from the French President Emmanuel Macron on Tuesday to discuss the attack on

Big banks score win as U.S. regulator proposes 2019-09-17 21:58:15A U.S. banking regulator on Tuesday proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marki

U.S. Senators urge FTC to scrutinize multi-billion dollar 2019-09-17 21:57:16U.S. presidential hopeful Amy Klobuchar on Tuesday led a letter by U.S. senators that urged the Federal Trade Commission (FTC) to closely scrutinize p

Walmart likely discriminated against female workers, U.S. agency 2019-09-17 21:55:42Walmart Inc likely discriminated against 178 female workers by paying them less, denying them promotions or both, because of their gender, the U.S. Eq

GM stops paying for health insurance for striking 2019-09-17 21:55:23General Motors Co shifted health insurance costs for its striking workers to the United Auto Workers union as its members walked the picket line for t

White House says not involved in contract talks 2019-09-17 21:55:23The White House is not involved in contract talks with General Motors Co and the United Auto Workers union, aimed at ending a nationwide strike that b

Apple says $14 billion EU tax order 'defies 2019-09-17 21:54:08The European Union's order to Apple to pay 13 billion euros ($14 billion) in back taxes "defies reality and common sense", the U.S. firm said as th

U.S. seeks U.N. action on Saudi attacks despite 2019-09-17 20:59:54A senior U.S. official on Tuesday called for a U.N. Security Council response to the attacks on Saudi oil facilities that the United States blames on

L.A. Times - Business

Philanthropists James and Eleanor Randall sell Malibu home 2019-09-17 22:45:34James and Eleanor Randall, the philanthropists who bought the storied Liongate estate in Bel-Air four years ago, have sold a Malibu estate for $23.425

Russell Weiner's Hollywood Hills home 2019-09-17 18:54:02Built in 2015, the three-story mansion holds six bedrooms, 10 bathrooms, a movie theater, gym, wine cellar and massage room.

Russell Weiner paid $16.5 million for this L.A. 2019-09-17 18:48:50Weeks after buying a Hollywood Hills mansion for $16.5 million, Rockstar Energy creator Russell Weiner is putting it back on the market for $27.995 mi

Frank Gore's Santa Clara townhouse 2019-09-17 17:20:42The orange-colored home holds three bedrooms, 2.5 bathrooms, plantation shutters, motorized drapes and a 350-gallon custom fish tank.

Airbnb pledges $25 million to support affordable housing 2019-09-17 17:11:01Amid California's housing crisis, Airbnb pledges $25 million to support affordable housing and small business in the San Francisco Bay Area, L.A. Cou

Frank Gore sheds Santa Clara townhouse near the 2019-09-17 17:01:32After 12 years of ownership, former 49er Frank Gore has sold his Santa Clara townhouse for his full asking price of $1.298 million.

Column: The Koch-backed right-to-try law has been a 2019-09-17 16:55:40The federal right-to-try law, passed as a Koch-supported device to weaken the FDA, hasn't helped any patients in a year.

Dave Mustaine's Tennessee estate 2019-09-17 16:05:25The 11-acre ranch holds a 7,000-square-foot home, a barn, shed, horse stalls and fenced pastures.

Megadeth's Dave Mustaine eyes sale of equestrian estate 2019-09-17 15:59:58Megadeth frontman Dave Mustaine is asking $2.498 million for his 11-acre equestrian estate outside Nashville, Tenn.

Andrew Wiggins sells his home court in Minnesota 2019-09-17 14:35:49Minnesota Timberwolves guard Andrew Wiggins has sold his Minneapolis home of five years for $1.83 million.

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NBCUniversal will launch its new streaming service Peacock 2019-09-17 09:00:49NBCUniversal plans to heavily promote its streaming service Peacock alongside NBC's coverage of the Summer Olympics in Tokyo.

Economy

US consumer prices rise a slight 0.1% in 2019-09-12 08:32:00Consumer prices slowed in August, rising by a slight 0.1%, reflecting a big drop in the cost of gasoline and other energy products.

US weekly jobless claims drop to five-month low 2019-09-12 08:30:00The number of Americans filing applications for unemployment benefits fell to a five-month low last week.

Mnuchin says Trump could do a China trade 2019-09-12 08:08:00But Mnuchin tells CNBC Trump still has all options available to him, including raising taxes on imports from China.

China wants a two-track approach to the trade 2019-09-12 07:49:00China wants to draw a line between talks about trade and other foreign affairs, the Wall Street Journal reported on Thursday.

Trump's approval on the economy slides as recession 2019-09-11 10:34:00Approval of Trump's handling of the economy has started to slip as fears about a recession crept into financial markets and pockets of the general pu

US producer prices unexpectedly rise in August 2019-09-11 08:30:00U.S. producer prices unexpectedly rose in August and underlying producer prices rebounded.

Weekly mortgage applications rise as buyer's market takes 2019-09-11 07:03:00Homebuyers are taking advantage of lower mortgage rates and a slow summer for sellers, and that is driving mortgage applications higher. Total mortgag

Trump says Fed 'boneheads' should cut interest rates 2019-09-11 06:46:00President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, who he blames for slowing the economy.

US job openings decline for second straight month 2019-09-10 10:46:00U.S. job openings fell for a second straight month in July amid decreases in wholesale trade and the federal government, which could bolster economist

Amazon is hiring over 30,000 workers in these 2019-09-10 10:32:00Amazon Career Day is coming Tuesday, Sept. 17.

Peter Navarro says he's certain House Democrats will 2019-09-10 09:09:00President Donald Trump's trade advisor Peter Navarro

Real US debt levels could be 2,000% of 2019-09-09 12:27:00Putting all that together paints a daunting picture but one that requires nuance to understand.

NYT > Economy

China Drops Some U.S. Pork and Soybean Tariffs 2019-09-13 05:54:14Details were scant, but the move could help ease Chinese food prices and comes as trade talks between the two countries are set to resume next month.

Recession or Slowdown? Why You Should Care About 2019-09-13 05:00:32The economy seems to be cooling off. Whether it starts to shrink is the question.

Salvadorans, Washington’s Builders, Face Expulsion Under Trump 2019-09-13 05:00:11Tens of thousands of workers in and around the capital were here legally because of adversity in their homeland. Now they are fighting to stay.

New Lawsuit Against Uber Is Set to Test 2019-09-12 17:56:18A class-action suit on behalf of drivers in federal court in California, filed on Wednesday, accused Uber of wrongly classifying drivers under the sta

Trump Wants Negative Rates. Here’s How That Would 2019-09-12 13:36:47The U.S. has never cut interest rates below zero, but such a move has been considered. There are some big hurdles.

California’s Contractor Law Stirs Confusion Beyond the Gig 2019-09-11 20:55:09After state lawmakers voted to extend minimum-wage and other protections to independent contractors, Uber said it would not treat its drivers as emplo

California Approves Statewide Rent Control to Ease Housing 2019-09-11 20:34:20The measure, affecting millions of tenants, is the biggest step in a nationwide surge of initiatives to address rising costs and homelessness.

Trump Calls for Fed’s ‘Boneheads’ to Slash Interest 2019-09-11 17:44:12President Trump urged Fed Chair Jerome H. Powell to cut borrowing costs below zero in Twitter posts hours before a key European Central Bank meeting.

California Bill Makes App-Based Companies Treat Workers as 2019-09-11 15:05:48Legislation near final approval would affect drivers for ride-hailing services, food-delivery couriers, janitors and others now viewed as contractors.

Hiring Slowed in August, but Wage Gains Accelerated 2019-09-11 11:47:57The figures show that the economy continues to add jobs but at a more modest pace as the trade war intensifies and global growth slows.

California Rent Control Bill Advances, Fueled by Housing 2019-09-11 11:10:09Millions of tenants would be covered by a measure championed by Gov. Gavin Newsom in his first year in office. Final approval could come Wednesday.

Share of Americans With Health Insurance Declined in 2019-09-11 00:17:50The drop, despite a strong economy, was the first since 2009 and at least partly caused by efforts to weaken the Affordable Care Act.

Home Page

Odd-even set to return in Delhi to tackle 2019-09-13 16:28:19Under the scheme, odd and even-numbered vehicles ply on alternate days

'Golden letter day' as Navy Tejas fighter jet 2019-09-13 16:26:22Naval variant of Tejas clears dangerous mission before landing on aircraft carrier.

E-assessment of taxpayers: Video conferencing in, personal interviews 2019-09-13 16:18:35Faceless assessment scheme, however, provides video conferencing facility to those seeking changes in draft assessment order

PwC gets Rs 229-crore penalty notice over foreign 2019-09-13 15:37:34The penalty is amounting to $4,98,42,747 which is equivalent to Rs 2,29,67,21,906, the order accessed by PTI said

India's economic growth rate 'much weaker' than expected, 2019-09-13 14:52:25India's GDP growth rate slipped to 5 per cent in the first quarter of 2019-20, the lowest in over six years

Realme XT review: Impresses with camera, comes close 2019-09-13 13:22:50If you get too much into the details, chances are you may pick a thing or two that may not be impressive about the phone or the photos it clicks

Not obliged to go by govt's growth projections: 2019-09-13 13:09:27The 15th Finance Commission is scheduled to submit its report to the government by November 30

YouTube tweaks policy on songs playing as ads 2019-09-13 12:42:55YouTube said it was adjusting its policy to 'provide more transparency to the industry' and be more consistent with the companies

Traders group wants ban on Amazon, Flipkart's festive 2019-09-13 12:32:52Its demand is unlikely to see government action before this year's sales kick off but it could help frame government policy on deep discounts

From cars to biscuits, GST Council to decide 2019-09-13 11:36:20There have been demands pouring in from various sectors from biscuits to automobiles and FMCG to hotels to reduce tax rates in the wake of perceived e

Exports drop 6% to $26.13 bn in August; 2019-09-13 11:18:29Oil imports declined by 8.9 per cent to $10.88 billion, and non-oil imports fell by 15 per cent to $28.71 billion

Why aren't cancer drugs better? The targets might 2019-09-13 11:12:19Drugs can stop cancer cells if they attack the right proteins. But a new study suggests many of these targets were chosen with dated, imprecise techno


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