National Business News

  • AkzoNobel ends merger talks with Axalta

    Dutch chemicals and paints maker AkzoNobel says it has ended talks on a possible merger of its paints and coatings business with Philadelphia-based Axalta. AkzoNobel said Wednesday it would focus on increasing profitability independently instead. CEO Thierry Vanlancker said he is "confident that...

  • Poland signs deal to buy US liquefied gas over 5 years

    Poland's state-owned gas company says it has signed a five-year deal to buy liquefied natural gas from the U.S. as Europe seeks to cut its dependence on imports from Russia. The company, called PGNiG, says that starting next year the Centrica LNG Company Ltd. will make nine shipments of liquefied...

  • US durable goods orders fell 1.2 percent in October

    Orders for long-lasting manufactured goods fell last month for the first time since July, pulled down by plummeting orders for commercial aircraft. A category that tracks business investment posted the biggest drop in more than a year. The Commerce Department said Wednesday that orders for durable...

  • AT&T suit may herald a new antitrust era - or Trumpian pique

    The Trump administration's decision to oppose the $85 billion AT&T-Time Warner merger may be clouded by suspicions of political influence. But considered on its merits, it could mark a significant departure in antitrust policy, one that might block or modify a broader set of mergers found to harm...

  • Global stocks advance but trading slows ahead of US holiday

    Global stocks mostly rose Wednesday after Wall Street hit new highs and Hong Kong's Hang Seng index closed above the 30,000 level for the first time in over 10 years. Trading was slowing, however, ahead of the two-day U.S. break for the Thanksgiving holiday. KEEPING SCORE: London's FTSE 100 rose...

  • Applications for US unemployment benefits drop 13,000

    The number of Americans filing applications for unemployment benefits fell for the first time in three weeks, pushing total applications down to a low 239,000, further evidence of the strength of the labor market. The NUMBERS: Applications dropped by 13,000 last week after rising by 13,000 the...

  • Uber reveals cover-up of hack affecting 57M riders, drivers

    Uber is coming clean about its cover-up of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service's customers and drivers. So far, there's no evidence that the data taken has been misused, according to a Tuesday blog post by...

  • FCC chairman sets out to scrap open internet access rules

    The chairman of the Federal Communications Commission set out Tuesday to scrap rules around open internet access, a move that would allow giant cable and telecom companies to throttle broadband speeds and favor their own services if they wish. Ajit Pai followed through on a pledge to try to repeal...

  • UK budget holds off big help for economy hurt by Brexit

    Britain's Treasury chief has outlined cautious spending plans to a nation bracing for the shock of Britain's departure from the European Union amid a steady worsening in economic forecasts. Philip Hammond revealed Wednesday a deteriorating outlook, as a slowing economy and stubborn deficit mean...

  • China criticizes unilateral action after NK sanctions

    China on Wednesday criticized "unilateral sanctions and long-arm jurisdiction" by other governments after Washington penalized Chinese companies accused of trading with North Korea. Beijing is "fully implementing" U.N. Security Council sanctions imposed over the North's pursuit of nuclear and missile...

  • Meg Whitman stepping down as HP Enterprise CEO

    Meg Whitman, who oversaw the breakup of one of Silicon Valley's pioneering companies, is stepping down as CEO of Hewlett Packard Enterprise Co. HPE said Tuesday that Whitman will hand over the reins of the company to its president, Antonio Neri, on Feb. 1. Whitman, 61, took over in 2011 at the...

  • Austria: Bitcoins stolen over public wireless network

    Austrian police say cyber thieves transferred bitcoins worth more than 100,000 euros ($117,000) from a man's account while he was logged in on a restaurant's public wireless network. A police statement Wednesday says the bitcoins were moved to an "unknown, non-traceable account" after the unidentified...

  • China's CEFC denies links to alleged Africa bribery plot

    A Chinese energy company has denied it had anything to do with a multimillion dollar bribery scheme that U.S. prosecutors say was organized by two businessmen to secure an edge with African officials on its behalf. In a statement late Tuesday, CEFC China Energy Co. sought to distance itself from...

  • Disney Animation, Pixar chief John Lasseter taking leave

    Just days before Pixar's "Coco" is set to hit theaters, Pixar co-founder and Walt Disney Animation chief John Lasseter announced he is taking a six-month leave of absence citing "missteps" with employees. The boisterous, Hawaiian shirt-wearing personality behind some of the most beloved children's...

  • Asian stocks rise after Wall Street gain

    Asian stocks rose Wednesday after Wall Street hit new highs ahead of the two-day U.S. break for the Thanksgiving holiday. KEEPING SCORE: The Shanghai Composite Index rose 0.5 percent to 3,427.66 and Tokyo's Nikkei 225 gained 0.7 percent to 22,579.18. Hong Kong's Hang Seng advanced 0.9 percent to...

  • Venezuela arrests Citgo chief in anti-corruption dragnet

    Venezuelan authorities detained the acting president of Citgo, the state-owned oil company's U.S. subsidiary, and five other executives for their alleged involvement in a corruption scheme, officials said Tuesday. Jose Pereira and five Citgo vice presidents have been detained on suspicion of embezzlement...

  • Uber reveals cover-up of hack affecting 57M riders, drivers

    Uber is coming clean about its cover-up of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service's customers and drivers. So far, there's no evidence that the data taken has been misused, according to a Tuesday blog post by...

  • Yellen says Fed needs to avoid 'boom-bust'cycle in economy

    Federal Reserve Chair Janet Yellen said Tuesday that the biggest challenge facing the central bank in coming years will be to craft an interest rate policy that avoids putting the economy through a "boom-bust" cycle. She said that going forward, the Fed will be faced with a delicate balancing act:...

  • Tribe's marijuana consultant pays fine, court costs

    A cannabis cultivation expert who was prosecuted in South Dakota after working with a Native American tribe trying to open the nation's first marijuana resort will see his drug case dismissed. A sentence handed down Tuesday for Jonathan Hunt caps the state's prosecution of two consultants who worked...

  • US home sales rose in October as hurricane impact wanes

    Americans bought more homes last month, as sales snapped back in hurricane-hit Texas and Florida. Yet the market is still suffering from a dwindling supply of available homes. Sales rose 2 percent in October to a seasonally adjusted annual rate of 5.48 million, the National Association of Realtors...

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