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Business

EU Commission chief says her team could face a reshuffle

BRUSSELS (AP) — The European Union’s executive commission is emerging from its summer vacation down a key official and with an additional big problem on its hands. At a time when European Commission President Ursula von der Leyen should be centering on managing the coronavirus pandemic, ...

Boy Scouts complain of misleading ads to solicit victims

DOVER, Del. (AP) — Attorneys for the Boy Scouts of America are asking a federal judge in Delaware to take action to protect survivors of child sexual abuse from being misled or confused by advertisements from law firms about their ability to file claims in the organization’s bankruptcy ...

Loughlin, Giannulli get prison time in college bribery plot

BOSTON (AP) — Breaking their silence for the first time since their arrest, “Full House” star Lori Loughlin and fashion designer Mossimo Giannulli apologized Friday for using their wealth and privilege to bribe their daughters’ way into the University of Southern California as crew ...

Airbnb files preliminary paperwork for initial public stock offering

Airbnb on Wednesday filed preliminary paperwork for selling stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business. The San Francisco-based company said it submitted a draft registration statement to the Securities and Exchange ...

California’s power outages pose new challenge for millions

BERKELEY, Calif. (AP) — As if the pandemic and economic recession weren’t bad enough, millions of Californians are now facing recurring threats of abrupt blackouts during a heat wave in the nation’s most populous state. California’s Independent System Operator, a nonprofit agency that ...

Stocks rebound on Wall Street, S&P 500 trades above record

Stocks marched broadly higher on Wall Street Wednesday, placing the S&P 500 within striking distance of its all-time high. The benchmark index was up 1.6% in afternoon trading and on pace for its eighth gain in nine days. The index briefly inched above its previous record high set in ...

‘Kicked in the teeth’: Devastation mounts from Midwest storm

IOWA CITY, Iowa (AP) — The impact of a wind storm that tore through the Midwest continued to grow Wednesday, as widespread power outages kept businesses closed, limited communication, spoiled food and caused long lines at gas stations. The rare storm known as a derecho hit Monday, ...

U.S. budget deficit climbs to $2.81 trillion

SILVER SPRING, Md. (AP) — The U.S. budget deficit climbed to $2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday. The nation’s budgetary shortfall is expected to eventually reach levels for the fiscal year that ends ...

S&P 500 ekes out 6th straight gain following new jobs report

NEW YORK (AP) — Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy. The S&P 500 inched up 2.12 points, or ...

GOP senators support more money for airlines to pay workers

A group of 16 Republican senators has endorsed giving more money to airlines to avoid layoffs right before the November election, giving a boost to a lobbying effort by airlines and their unions. The GOP senators did not specify an amount on Wednesday, but a proposal by several airline unions ...

Stocks rally worldwide, S&P 500 back to within 3% of record

NEW YORK (AP) — Stocks started August with more gains, and a worldwide rally on Monday sent Wall Street back to where it was just a couple days after it set its record earlier this year. The S&P 500 tacked 0.7% more onto its four-month winning streak, and Big Tech once again led the ...

GM alleges Fiat Chrysler spent millions to bribe UAW leaders

DETROIT (AP) — General Motors is asking a federal judge to reconsider his dismissal of a lawsuit against Fiat Chrysler based on new allegations that FCA bribed union officials and GM employees with millions stashed in secret foreign bank accounts. GM alleges that bribes were paid to former ...

Last call: Colorado prohibits serving booze after 10 p.m.

DENVER (AP) — Colorado Gov. Jared Polis on Tuesday ordered bars and restaurants across the state to stop serving alcohol past 10 p.m. as the number of coronavirus cases among young adults keeps rising. “Anybody who has been drunk just knows this inherently; your best goals around social ...

Brewery says it never authorized Trump event, closes for day

FREEPORT, Maine (AP) — Owners of a Maine brewery said Tuesday they’re going to shut down for a day after feeling misled about an event supporting President Donald Trump. Stars and Stripes Brewing Company in Freeport was listed in an advisory as a planned Wednesday stop for the Women for ...

Trump reins in major environmental law to speed big projects

ATLANTA (AP) — President Donald Trump announced Wednesday that he is rolling back a foundational Nixon-era environmental law that he says stifles infrastructure projects, but that is credited with keeping big construction projects from fouling up the environment and ensuring there is public ...

American Airlines: 25,000 workers could lose jobs

DALLAS (AP) — American Airlines is notifying about 25,000 workers that their jobs could be eliminated in October because of plunging demand for air travel, adding to the toll that the virus pandemic is taking on the airline industry. American’s top executives said Wednesday that the number ...

Hogan announces $501M unemployment insurance fraud case

ANNAPOLIS, Md. (AP) — Maryland uncovered a massive criminal enterprise involving identity theft and more than 47,500 fraudulent unemployment insurance claims in the state adding up to more than $501 million, Gov. Larry Hogan said Wednesday, saying the case relates to activity in at least a ...

Florida virus deaths surge, vaccine research moves forward

FORT LAUDERDALE, Florida (AP) — Florida surpassed its daily record for coronavirus deaths Tuesday amid rising global worries of a resurgence, even as researchers announced that the first vaccine tested in the U.S. had worked to boost patients’ immune systems. Florida’s 132 additional ...

Stocks slam into reverse as virus keeps scarring economy

NEW YORK (AP) — Wall Street got a painful reminder that the coronavirus pandemic isn’t going away, and a big early gain for stocks suddenly flipped to losses after California showed how it’s still scarring the economy. The S&P 500 fell 0.9%, with all the losses accumulating in the ...

Virus cases spike among young adults in Iowa college towns

DES MOINES, Iowa (AP) — Within weeks of Gov. Kim Reynolds agreeing to allow bars and restaurants to open to customers, Iowa’s two major college towns are seeing spikes in coronavirus cases among young adults, raising concerns among local health officials and prompting some businesses to ...