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US-China talks break up after US raises tariffs

WASHINGTON (AP) — Trade talks between the U.S. and China have broken up with no agreement, hours after President Donald Trump more than doubled tariffs on $200 billion in Chinese imports. Trump asserted on Twitter that there was "no need to rush" to get a deal between the world's two biggest economies and later added that the tariffs "may or may not be removed depending on what happens with respect to future negotiations."


AP Explains: New China tariffs likely to hit US consumers

WASHINGTON (AP) — With the Trump administration more than doubling tariffs on billions of dollars of Chinese imports, will Americans soon see higher prices on store shelves? Yes, but it will likely take a few weeks. The latest round of tariff hikes will hit a range of consumer goods, including furniture, luggage and seafood, as well as steel, lumber and other building materials. But the biggest categories of imports from China — clothes, shoes, toys, and electronics such as the iPhone — remain exempt.


Uber's hyped-up IPO hits a few potholes on its first day

NEW YORK (AP) — After much hype leading up to the largest initial public offering in five years, Uber hit a few potholes on its first day of trading. It closed down 8%, reflecting lingering doubts about its future prospects for profitability. The ride-hailing company began trading at $42 a share Friday, nearly 7% below its IPO price of $45 on an already volatile day for the markets. Its shares closed at $41.57.


Third-biggest US coal company files for bankruptcy

GILLETTE, Wyo. (AP) — The nation's third-largest coal company by production volume filed for bankruptcy Friday as utility companies increasingly turn to gas-fired generation and renewable energy for electricity. Gillette-based Cloud Peak Energy filed for Chapter 11 reorganization in U.S. Bankruptcy Court in Delaware. The move was widely expected since at least March, when the company received the first of several extensions to make a $1.8 million loan payment.


Rihanna to launch groundbreaking new fashion label with LVMH

NEW YORK (AP) — Rihanna is partnering with LVMH Moët Hennessy Louis Vuitton to launch a new fashion label. The pop star, born Robyn Rihanna Fenty, announced Friday that a new line called Fenty will debut this spring and will be based in Paris. Fenty "is centered on Rihanna, developed by her, and takes shape with her vision in terms of ready to wear, shoes and accessories, including commerciality and communication of the brand," according to a press release.


Why does Facebook fail to fix itself? It's partly humans

SAN FRANCISCO (AP) — The sheer size of Facebook, the business model it's created and technical limitations. Those are all reasons why the social media platform has struggled to clamp down on extremist material, hate speech, election meddling and privacy invasions. The latest misstep, Facebook inadvertently created celebratory videos using extremist content and auto-generated pages for ISIS and Al Qaida.


New French rules for Facebook? Zuckerberg likes the idea

PARIS (AP) — France has welcomed Facebook CEO Mark Zuckerberg to Paris with threats of sweeping new regulations on the social media giant — and Zuckerberg says that's a good thing. With Facebook under fire on multiple fronts, Zuckerberg came to show that Facebook is working hard to limit violent extremism and hate speech shared online. But French regulators who spent weeks inside Facebook facilities in Europe say it needs to do more and have issued proposals making Facebook more responsible for its content.


Space-tourism dream edges toward reality in New Mexico

SANTA FE, N.M. (AP) — British billionaire Richard Branson is taking another concrete step toward offering rides into the close reaches of space for paying passengers. Branson announced Friday that his company Virgin Galactic will begin shifting operations from California to a spaceport and specialized runway in the New Mexico desert in final preparations for commercial flights. He says Virgin Galactic's development and testing program has advanced enough to make the move from its current testing site in California.


Stocks rebound as hopes rise that trade tensions will ease

NEW YORK (AP) — Wall Street capped a turbulent week with a late-day rally Friday after shaking off an early slump triggered by the latest escalation in the trade war between the U.S. and China. The market fell sharply early on after the U.S. raised tariffs on $200 billion worth of Chinese goods when negotiators failed to reach a deal. But remarks from President Donald Trump and Treasury Secretary Steven Mnuchin gave investors reason for optimism. The S&P 500 index still posted its worst weekly loss of the year.


The S&P 500 index rose 10.68 points, or 0.4%, to 2,881.40. The Dow Jones Industrial Average gained 114.01 points, or 0.4%, to 25,942.37. The Nasdaq added 6.35 points, or 0.1%, to 7,916.94. The Russell 2000 index of small company stocks picked up 2.94 points, or 0.2%, to 1,572.99.

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ABC News: Money

How major US stock indexes fared Tuesday 2019-05-21 16:58:57Stocks closed broadly higher on Wall Street Tuesday after the U.S. government temporarily eased off proposed restrictions on technology sales to Chine

Tech rebound powers US stocks higher, snaps 2-day 2019-05-21 16:50:13Chipmakers and technology companies lead a stock rebound.

AutoZone, Qualcomm rise; Kohl's, J.C. Penney fall 2019-05-21 16:39:27AutoZone, Qualcomm rise; Kohl's, J.C. Penney fall

Report: Many Uber, Lyft drivers fail to respond 2019-05-21 16:29:08One in six Uber and Lyft drivers in the New York City and Seattle areas are driving vehicles with outstanding recalls

Markets Right Now: Tech rebound powers Wall Street 2019-05-21 16:20:29Stocks closing higher on Wall Street Tuesday as technology companies lead solid gains across the market.

McDonald's says it's offering training to combat harassment 2019-05-21 16:01:27As harassment charges mount, McDonald's says it's offering more worker training

Tesla reduces prices on Models S and X 2019-05-21 15:30:13Faced with a slumping stock price and questions about demand for its vehicles, Tesla has lowered the U.S. base prices of its 2 most expensive models

Department stores troubles rise on Penney's, Kohl's results 2019-05-21 12:53:58Department store troubles weigh on J.C. Penney and Kohl's 1st-quarter results

US home sales fell 0.4% in April amid 2019-05-21 10:49:24US home sales dropped 0.4% in April amid affordability and inventory challenges

GM Maven car-sharing stops serving 8 N. American 2019-05-21 10:10:23General Motors is retreating from eight of the 17 North American markets where it had started a car-sharing service called Maven

US home sales dropped 0.4% in April amid 2019-05-21 10:00:26US home sales dropped 0.4% in April amid affordability and inventory challenges

Global markets gain on Huawei grace period 2019-05-21 08:32:15Global stocks mostly higher after US issues 90-day grace period on Huawei sales ban

Reuters: Business News

U.S. judge hammers Qualcomm in antitrust case, shares 2019-05-22 09:03:21Qualcomm Inc used unlawful, anticompetitive practices to license patents for modems used in mobile phones, a judge has ruled in a case brought by the

After Huawei, U.S. could blacklist Chinese surveillance tech 2019-05-22 08:59:01The U.S. administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision, media reports show, deepening worries that

Exclusive: Tencent and Riot Games developing mobile version 2019-05-22 08:58:18China's Tencent Holdings Ltd is working with its U.S. unit Riot Games to develop a mobile version of "League of Legends", the world's most popular

U.S. Justice Department staff recommends blocking T-Mobile-Sprint deal, 2019-05-22 08:44:49The U.S. Justice Department's antitrust division staff has recommended the agency file a lawsuit to block T-Mobile US Inc's $26 billion acquisition

Apple more upfront with iPhone users on battery 2019-05-22 08:42:23Britain's competition watchdog said on Wednesday that Apple Inc has committed to be "clearer and more upfront" with iPhone users about battery heal

British Steel falls into liquidation after failing to 2019-05-22 08:41:17British Steel, the country's second largest steel producer, has collapsed after failing to secure emergency government funding, jeopardising some 25,

China's big three airlines seek Boeing compensation over 2019-05-22 08:18:01China's three biggest airlines have asked U.S. planemaker Boeing Co to compensate them for losses caused by the grounding and delayed deliveries of 7

Same-day deliveries, store revamps drive Target's strong results 2019-05-22 08:14:15Target Corp beat first-quarter estimates for same-store sales and profit on Wednesday, as the retailer's investments in same-day delivery and store r

Exclusive: Behind Grindr's doomed hookup in China, a 2019-05-22 07:59:32Early last year, Grindr LLC's Chinese owner gave some Beijing-based engineers access to personal information of millions of Americans such as private

Commerzbank open to M&A after Deutsche Bank talks 2019-05-22 07:58:41Commerzbank may refine its strategy and is still open to mergers following the collapse of talks with its larger rival Deutsche Bank, the lender's ch

Futures dip on reports U.S. to target another 2019-05-22 07:57:15U.S. stock index futures dipped on Wednesday, as fears of a possible escalation in the trade war between the United States and China were rekindkled a

Oil prices down on swelling U.S. stockpiles, demand 2019-05-22 07:54:06Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and on demand concerns linked to a protracted trade war

L.A. Times - Business

In Google’s Mountain View backyard, RV living becomes 2019-05-22 09:00:00In a quiet neighborhood near Google’s headquarters last month, rusty, oleaginous sewage was seeping from a parked recreational vehicle onto the

Companies are buying defunct nuclear reactors, planning to 2019-05-22 08:30:00Companies specializing in the handling of radioactive material are buying retired U.S. nuclear reactors from utilities and promising to clean them up

Can Boeing CEO Muilenburg engineer a recovery course 2019-05-22 08:00:00Dennis Muilenburg wanted to be “the world’s best airplane designer,” he once told a reporter. Growing up milking cows on his father&

An abandoned mine near Joshua Tree could host 2019-05-22 07:00:00An abandoned iron mine on the doorstep of Joshua Tree National Park could be repurposed as a massive hydroelectric power plant under a bill with bipar

Airlines are canceling mistake fares faster but some 2019-05-22 06:00:00Travelers love those insanely cheap fares that airlines sometimes post by mistake, such as when Cathay Pacific Airways in January sold $16,000 busines

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New Twitter experiment is showing some users more 2019-05-21 20:50:00If you feel like you’ve been seeing more Twitter ads lately, it’s not just your imagination. A Twitter Inc. spokeswoman said Tuesday that

Beyond Meat stock is overpriced beyond reason, says 2019-05-21 20:15:00In the world of high finance, Erlan Abdikarimov is as small-time as they come. A 30-year-old stock analyst, he plies his trade in Kazakhstan, where he

Plan to create special cannabis-friendly banks moves forward 2019-05-21 19:50:00Shut out of the traditional banking system by federal laws, the country’s largest legal marijuana market — in California — could ben

Johnson & Johnson loses one baby powder cancer 2019-05-21 19:00:00Johnson & Johnson was ordered to pay at least $25 million to a woman who said she contracted a rare asbestos-related cancer through decades of dai

California regulators aren’t taking action against care homes 2019-05-21 18:50:00Across California, at least 20 companies providing care for elderly, disabled and mentally ill people continue to operate illegally after being cited

Southwest Airlines mechanics ratify labor deal after six 2019-05-21 18:45:00Southwest Airlines Co. mechanics approved a new contract that provides pay increases and a retroactive bonus, closing out more than six years of negot


Here's what to do if the US-China trade 2019-05-20 09:08:00The trade war with China and rising pressure on manufacturers and retailers are bringing a new worry: layoffs. Here's how to manage if you lose your

Atlanta Fed President Bostic does not see a 2019-05-20 08:42:00Bostic expressed confidence in the economy, and in the Fed's position on monetary policy, during an interview Monday with CNBC.

China is in 'no rush' to restart trade 2019-05-20 08:05:00Beijing is in "no rush" to resume trade talks between the U.S. and China.

Three states just set new lows for unemployment 2019-05-17 11:23:00Vermont's 2.2%, Pennsylvania's 3.8% and Wisconsin's 2.8% set new lows for state unemployment rates.

US consumer sentiment surges to highest level in 2019-05-17 10:00:00The optimistic consumer outlook was mostly recorded before U.S.-China trade deliberations soured earlier this month.

Trump administration will delay auto tariffs for up 2019-05-17 08:38:00The White House had to decide by Saturday whether to slap tarifffs on autos over what it calls national security concerns.

China accuses the US of 'bullying behavior' 2019-05-17 07:47:00"China always believes that raising tariffs is not a solution to the trade frictions," a Chinese Ministry of Commerce spokesperson says.

US recession risk rises as US-China trade tensions 2019-05-17 07:21:00Over the last month the U.S.-China trade war has boosted the risk of a U.S. recession, say a strong majority of economists polled by Reuters.

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US housing starts rose more than expected in 2019-05-16 08:31:00U.S. housing starts were expected to total 1.205 million in April, up from the 1.139 million starts reported for the previous month.

US weekly jobless claims fall more than expected 2019-05-16 08:30:00First-time claims for state unemployment benefits were expected to total 220,000 for the most recent week, down from the 228,000 claims reported for t

The Atlanta Fed's GDP forecast is sliding, and 2019-05-15 13:58:00The Atlanta Fed's GDPNow tracker is pointing to a 1.1% gain in Q2. Markets expect a Fed rate cut as soon as September.

NYT > Economy

The Economy Is Strong and Inflation Is Low. 2019-05-21 16:16:30The Fed’s struggle to coax inflation to its 2 percent target signals the faltering of a foundational economic relationship. That could create a

Trump Team Vets Fed Critic for Board Seat 2019-05-21 15:05:32Judy Shelton, a longtime Fed critic who favors gradually taking interest rates to zero, is being considered for a seat on the board of governors.

In a Surprise, Japan’s Economy Grew in the 2019-05-20 01:53:04But the strong figure masks lingering weakness, giving Prime Minister Shinzo Abe a mixed bag as he tries to strike a trade deal with the U.S.

The Week in Business: A Facial Recognition Ban, 2019-05-18 13:57:27Also: Worries about another war, and the continuing crisis at Boeing.

U.S. Birthrate Drops 4th Year in a Row, 2019-05-17 10:05:06The birthrate hit a 32-year low and the fertility rate reached a record low in 2018, bringing the United States more in line with other wealthy countr

In China, Some Fear the End of ‘Chimerica’ 2019-05-16 06:09:26As the trade war with the U.S. threatens to decouple the world’s two largest economies, some in China argue that the two sides benefit from the

White House Reassesses Auto Tariffs as It Focuses 2019-05-15 19:57:18A potential thaw in trade relations with Canada, Mexico and Europe comes as tension between the United States and China grows.

Alice M. Rivlin, 88, a Leading Government Economist, 2019-05-15 11:19:52She was the founding director of the Congressional Budget Office, budget director under Bill Clinton and vice chairwoman of the Federal Reserve.

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With Higher Tariffs, China Retaliates Against the U.S. 2019-05-13 12:35:43Beijing’s matched the Trump administration’s de facto delay in collecting the new tariffs, giving both sides breathing room to reach a dea

U.S.-China Trade Talks Stumble on Beijing’s Spending at 2019-05-12 20:31:37As the trade war intensifies, Chinese subsidies for homegrown industries present a difficult obstacle to reaching a deal.

U.S.-China Trade Standoff May Be Initial Skirmish in 2019-05-11 19:08:51The United States is wary of China’s growing role in the global economy and its tactics for getting ahead. China sees some of the demands as inf

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India's drug regulator warns patients against faulty Medtronic 2019-05-20 13:33:05India's CDSCO has advised patients to seek immediate medical assistance if they feel dizzy, light-headed, severe short breath or loss of consciousnes

US, China trade war will push world towards 2019-05-20 13:18:58Reserve cut US interest rates back to zero within a year if the world economy heads to recession, says Morgan Stanley.

Kamal Nath says he is ready for floor 2019-05-20 12:42:28He said the BJP was talking about instability of the Congress-led government as it wanted to save itself from getting "exposed" on its erstwhile cor

From McAloo to Egg Wrap, McDonald's drops several 2019-05-20 10:50:59Besides, the menu boards, tray mats, and packaging have a new design to be consistent with McDonald's simple, modern brand identity

India adopts new standards for measuring kilogram, kelvin, 2019-05-20 10:45:34Over 100 countries have adopted the metric system of measurements, also known as the International System of Units (SI), which has been in practice si

Investor wealth soars Rs 5.33 trillion as exit 2019-05-20 10:36:29In the forex market, the rupee strengthened and was trading higher by 58 paise to 69.65 against the dollar

Young and unsettled: Millennials and Gen Z pessimistic 2019-05-20 09:46:42Only about half of both groups aspire to purchase a home, and even fewer desire to start a family, says Deloitte survey.

Amitabh Bachchan is most trusted celebrity; Virat leads 2019-05-20 09:20:45The Most Trusted Personality 2019 report lists the most trusted individuals across three different fields

Amul hikes milk prices by Rs 2/ltr in 2019-05-20 08:46:28Prices will go also up in Gujarat, West Bengal, Kolkata, Uttaranchal, Maharashtra, and other places.

BJP to meet allies, discuss new govt after 2019-05-20 08:18:26Party president Amit Shah will hold discussions with National Democratic Alliance Partners at BJP HQ in Delhi.

ArcelorMittal tells NCLAT it will pay Rs 42k 2019-05-20 07:43:12The debt-ridden Essar Steel has alleged foul play, saying that vital facts have been suppressed by ArcelorMittal which would have rendered them inelig

Sensex vaults 1,422 pts, most in 10 years, 2019-05-20 06:37:09All that happened in the markets today

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