Business

  • Palm Oil: Consuming Sweat and Blood
    Palm_oil-_you_are_%e2%80%9cconsuming_our_sweat_and_blood%e2%80%9d 2020-09-25 02:21:38 UTC
    PENINSULAR MALAYSIA (AP) — Jum’s words tumble out over the phone, his voice growing ever more frantic. Between sobs, he says he’s trapped on a Malaysian plantation run by government-owned Felda, one of the world’s largest palm oil companies. His boss confiscated and then lost his Indonesian pa...

  • IMF: Global Economy Has Entered Recession, Worse Than 2008 Downturn
    Imf-_economy_has_entered_recession__worse_than_2008_downturn 2020-03-27 23:26:50 UTC
    WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recove...

  • 3.3 Million Americans Filed for Unemployment Aid in A Single Week
    3.3_million_americans_filed_for_unemployment_aid_in_a_single_week 2020-03-27 00:45:33 UTC
    WASHINGTON (AP) — Nearly 3.3 million Americans applied for unemployment benefits last week — almost five times the previous record set in 1982 — amid a widespread economic shutdown caused by the coronavirus. The surge in weekly applications was a stunning reflection of the damage the viral out...

  • U.S. Auto Sales Plummet 80 Percent
    U.s._auto_sales_plummet_80_percent 2020-03-26 04:24:17 UTC
    (Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday. Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...

  • Asian Markets Opened Sharply Higher
    Asian_markets_opened_sharply_higher 2020-03-25 03:14:56 UTC
    NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus. Japan’s Nikkei 225 inde...

  • The Latest Developments in Coronavirus Outbreak
    The_latest_developments_in_coronavirus_outbreak 2020-03-22 18:54:16 UTC
    (Reuters) - As coronavirus cases ballooned in Europe, several countries imposed or planned new restrictions to try to curb the spread. Britain told panic-buyers to calm down. California and three other U.S. states directed tens of millions of people to stay at home. DEATHS, INFECTIONS * Mo...

  • Dow Ends Week With a 17.3% Loss
    Dow_ends_week_with_a_17.3__loss_ 2020-03-21 00:53:35 UTC
    <p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation&rsquo;s economy in the hope of limiting the spread of th...

  • Dow Erases All Its Gains Since Trump’s Inauguration
    Dow_erases_all_its_gains_since_trump%e2%80%99s_inauguration 2020-03-18 23:34:43 UTC
    NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...

  • Global Stocks Fall Sharply as Virus Cases Spread Around the World
    Global_stocks_fall_sharply_as_virus_cases_spread_around_the_world 2020-03-16 20:33:23 UTC
    NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner. The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...

  • Microsoft Co-Founder Bill Gates Is Stepping Down From Company’s Board to Focus on Philanthropy
    Microsoft_co-founder_bill_gates_is_stepping_down_from_company%e2%80%99s_board_to_focus_on_philanthropy 2020-03-14 22:02:26 UTC
    <p>REDMOND, Wash. (AP) &mdash; Microsoft co-founder Bill Gates said Friday he is stepping down from the company&rsquo;s board to focus on <a href="https://apnews.com/b1279711ee234b3ab3916d292d262643">philanthropy.</a></p><p>Gates was Microsoft&rsquo;s CEO until 2000 and since then has gradually s...

  • Global Shares Plunge: Worst Day Since '87
    Global_shares_plunge-_worst_day_since_'87 2020-03-13 02:06:33 UTC
    <p>NEW YORK (AP) &mdash; Shares have plunged in Asia, with Japan&rsquo;s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987.&nbsp;</p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...

  • Nothing Can Pull Markets Out From Undertow
    Nothing_can_pull_markets_out_from_undertow 2020-03-06 20:41:47 UTC
    <p>NEW YORK (AP) &mdash; 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.&nbsp;</p><p>Even a better-than-expected <a href="https://apnews.com/1d187742ff0d4a44bf235fd00c665fb7">report on U.S. jobs</...

  • No-Deal Brexit Would Cause Severe Damage to UK
    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...

  • EU, South American Bloc Mercosur Announce World's Largest Free Trade Deal
    Eu_and_south_american_bloc_mercosur_announce_world's_largest_free_trade_agreement 2019-06-29 01:15:31 UTC
    BRUSSELS (Reuters) - The European Union and South American bloc Mercosur agreed a free-trade treaty on Friday, concluding two decades of talks and committing to more open markets in the face of a rising tide of protectionism. The two regions launched negotiations exactly 20 years ago and inten...

  • Japan Eats Whale Despite Environmental Concerns
    Japan_eats_whale_despite_environmental_concerns 2019-06-24 04:59:19 UTC
    MINAMIBOSO, Japan (Reuters) - Whale cutlets, sliced raw whale, deep-fried whale nuggets, whale bacon and whale jerky feature on the menu at the restaurant Yoko Ichihara runs - and that's just a small sample of the ways Japan eats whale. Though Japan's government maintains that eating whale is ...

  • Euro Hits Three-Month High Against US Dollar
    Euro_jumps_to_three-_week_high_against_the_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 ...

  • Hunt for Shoppers: Luxury Brands Raising Stakes on Instagram
    Hunt_for_shoppers-_luxury_brands_raising_the_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...

  • US Senators Seek to Block Trump Saudi Arms Sales
    Us_senators_seek_to_block_trump_saudi_arms_sales 2019-06-05 21:52:21 UTC
    WASHINGTON (Reuters) - Republican and Democratic U.S. senators said on Wednesday they would introduce legislation to block President Donald Trump’s plan for $8 billion in military sales to Saudi Arabia and the United Arab Emirates without congressional review. Backers said the introduction of ...

  • Apple wants its login button above Google and Facebook
    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...

  • Elon Musk Says Tesla deliveries Set to Top Record
    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...

  • Restaurant Dishes Labeled Gluten-Free Often Are Not
    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...

  • Oil Prices Continue to Rise Amid OPEC-Led Supply Cuts
    Oil_prices_rose__lifted_by_a_weak_dollar 2019-04-02 21:38:57 UTC
    NEW YORK (Reuters) - Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut. Brent futures reached a session peak at $69.52 ...

  • U.S. Judge Approves Bankruptcy Loan for PG&E
    Us_utility_company_pg_e_is_exploring_filing_for_bankruptcy 2019-03-27 18:31:51 UTC
    SAN FRANCISCO (Reuters) - Bankrupt California power provider PG&E Corp won court approval on Wednesday for a $5.5 billion loan to help maintain electricity and natural gas delivery and for investments to reduce the risk of wildfires as it reorganizes. San Francisco-based PG&E filed for Chapter...

  • Chinese Company to Sell Popular Dating App Grindr
    Chinese_company_to_sell_the_popular_dating_app_grindr 2019-03-27 17:54:06 UTC
    (Reuters) - Chinese gaming company Beijing Kunlun Tech Co Ltd is seeking to sell Grindr LLC, the popular gay dating app it has owned since 2016, after a U.S. government national security panel raised concerns about its ownership, according to people familiar with the matter. The Committee on F...

  • Scientists' evidence for man-made global warming hits 'gold standard'
    Alarming_research_finds_global_warming_is_accelerating_sea_level_rise 2019-02-25 18:33:18 UTC
    OSLO (Reuters) - Evidence for man-made global warming has reached a “gold standard” level of certainty, adding pressure for cuts in greenhouse gases to limit rising temperatures, scientists said on Monday. “Humanity cannot afford to ignore such clear signals,” the U.S.-led team wrote in the jo...