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National Business News

  • Mother sues airline for flying 5-year-old son to wrong city

    A New York City woman is suing JetBlue Airways for mixing up her 5-year-old son with another boy and flying him to the wrong city. Maribel Martinez filled a lawsuit Friday over the Aug. 17 mix-up involving her son, Andy. Martinez went to New York's Kennedy Airport to meet the flight her son was...

  • Deutsche Bank shares swing wildly amid stability concerns

    Shares in Deutsche Bank swung wildly on Friday, touching a record low before roaring back to life, amid speculation about the stability of Germany's biggest bank and the European financial system. Having initially fallen 8 percent, the shares rallied to close more than 6 percent higher on hopes...

  • Stocks say 'nevermind'; reverse recent losses as banks jump

    U.S. stocks climbed Friday as banks made a rapid recovery following a steep fall a day ago. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared. Banks made the biggest gains Friday as Germany's largest bank tried to reassure investors about...

  • US consumer spending at weakest pace in 5 months

    U.S. consumers scaled back their spending in August to its weakest pace in five months, reflecting a drop in spending on autos. Income growth also decelerated as wages and salary gains slowed following four strong months. Consumer spending was unchanged last month after solid gains of 0.4 percent...

  • US closes probe of Jeep automatic braking; no recall sought

    U.S. safety regulators have closed a yearlong investigation into the Jeep Grand Cherokee's automatic braking system without seeking a recall. The National Highway Traffic Safety Administration began the probe in June of last year after getting complaints that the system braked for no reason, increasing...

  • EU nations approve ratification of climate change pact

    The European Union's environment ministers on Friday approved the ratification of the landmark Paris climate change pact, paving the way for the agreement to take effect in November. "It's really a historic result," French Environment Minister Segolene Royal told reporters after the ministers agreed...

  • Investigators question engineer in deadly train crash

    Federal investigators trying to figure out the cause of the deadly rail crash at the Hoboken station questioned the engineer Friday and hoped to lift clues from the train's black box recorders, though one of the devices was proving difficult to extract from the twisted wreckage. Thomas Gallagher...

  • Iceland raises aviation alert due to Katla volcano activity

    Iceland's Meteorological Office has raised the aviation alert level around the Katla volcano because of seismic activity. The activity, which began Thursday and continued Friday, prompted officials to raise the alert level to yellow, which signifies volcanic activity above background levels. There...

  • American hopes IT switch doesn't snag flights this weekend

    American Airlines will make a big technology change this weekend involving planes and pilots, but passengers won't notice a thing if all goes well. Nearly three years after the merger that created the current American, the airline is switching to a single flight-operating system instead of running...

  • BMW issues recall for new Takata air bag problem

    Another potentially deadly problem has surfaced with Takata air bags, this one forcing BMW to recall over 4,000 SUVs in the U.S. and Canada. The new problem was traced to improper welds, and it's separate from the trouble that has caused the largest automotive recall in U.S. history. The latest...

  • Opposition leader: Turkey is misusing its emergency powers

    Turkey's opposition leader accused the government on Friday of using emergency powers from the aftermath of a failed coup to clamp down on dissenting voices, as authorities ordered 12 more news organizations to shut down for alleged threats to national security. Turkey declared a state of emergency...

  • Report says Obama administration failed to follow health law

    The Obama administration failed to follow the president's health care law in a $5 billion dispute over compensating insurers for high costs from seriously ill patients, Congress' investigative arm said Thursday. The opinion from the Government Accountability Office is a setback for the White House...

  • Clinton vows to retaliate against foreign hackers

    Hillary Clinton is vowing anew to respond to foreign hacking the same as any other attack against the United States. When she openly blamed Russia for recent U.S. cyber break-ins, Donald Trump wondered whether to blame overseas governments or overweight hackers working from home. "She's saying...

  • Eurozone inflation doubles as low oil price impact fades

    Inflation in the 19-country eurozone doubled in September to near two-year highs as the impact of lower oil prices began to fade, official figures showed Friday, in a development that's likely to ease pressure on the European Central Bank to provide more stimulus next month. Eurostat, the European...

  • FCC delays vote on much-disputed rules on cable boxes

    Federal regulators delayed a decision Thursday on requiring cable and satellite TV companies to make free apps to eliminate the need for cable boxes. Consumers could potentially save a few hundred dollars a year if they don't have to buy or rent a cable box and instead use apps for smart TVs or...

  • Renault signs deal for venture in Iran as its economy opens

    Renault has reached a deal with Iran's government to open a plant making at least 150,000 vehicles a year, as European companies race for a share of Iran's market now that international sanctions have been lifted. The French carmaker announced the deal with the Industrial Development & Renovation...

  • Signoff creates savings funds for private California workers

    Nearly 7 million California workers will be automatically enrolled in a retirement savings account under legislation Gov. Jerry Brown signed Thursday in an attempt to address growing fears that many workers will be financially unprepared to retire. The legislation creates a state-run retirement...

  • UK services sector grew more than expected after Brexit vote

    Britain's pivotal services sector has defied expectations in the weeks after the vote to leave the European Union. The Office of National Statistics said Friday that the sector expanded by a strong 0.4 percent in July, despite uncertainty following the June 23 vote to leave the EU. Economists had...

  • Survey: Chinese factories eke out expansion in September

    Chinese factories eked out a tiny expansion in activity for September as new orders picked up marginally, offering a glimmer of hope for the world's No. 2 economy, according to a private survey Friday. The Caixin monthly purchasing managers' index ticked up to 50.1 for September from the previous...

  • Yellen pledges to improve Fed's workplace diversity

    Chair Janet Yellen said Thursday she is committed to increasing diversity throughout the Federal Reserve system, including the ranks of senior leadership. Yellen said that the Fed will benefit from greater diversity, and commercial banks will be better off with a more diverse workforce. "I am committed...

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