National Business News

  • US, China face off again at World Trade Organization

    China and the United States have traded barbs again at the World Trade Organization, with the U.S. ambassador accusing China of theft of technology and an envoy from Beijing retorting that the U.S. was "finger-pointing." The standoff comes as many countries lined up to criticize and question Trump...

  • Consumer groups allege Google misleads kids in FTC complaint

    Nearly two dozen consumer, privacy and public health groups are urging U.S. regulators to investigate whether children are being endangered by deceptive apps in Google's app store for smartphones running on its Android software. The 102-page complaint filed Wednesday with the Federal Trade Commission...

  • Facebook purges more Myanmar accounts for misrepresentation

    Facebook has announced its third and biggest purge of military-linked accounts in Myanmar, where critics have charged that the social network did too little to block inflammatory material that fueled communal hatred, particularly against the country's Muslim Rohingya minority. Facebook in a press...

  • Elon Musk unveils underground tunnel, offers rides to VIPs

    Elon Musk unveiled his underground transportation tunnel on Tuesday, allowing reporters and invited guests to take some of the first rides in the revolutionary albeit bumpy subterranean tube — the tech entrepreneur's answer to what he calls "soul-destroying traffic." Guests boarded Musk's Tesla...

  • Report: 10 arrested in Estonia over massive money laundering

    The Baltic region's main news agency says ten former employees of the Estonian branch of Danske Bank have been arrested in connection with an ongoing probe into a major money laundering scandal that allegedly involved Russian money. The Baltic News Service cites Estonia's prosecutors' office, saying...

  • GSK, Pfizer to merge their healthcare divisions

    Drugmakers GlaxoSmithKline and Pfizer are merging their healthcare divisions, creating a business with combined sales of 9.8 billion pounds ($12.7 billion). British-based Glaxo will own 68 percent of the joint venture, while U.S.-based Pfizer will own the remaining 32 percent stake. The joint venture...

  • World markets rise ahead of Fed's rate decision

    World stocks were mostly higher Wednesday ahead of an expected rate hike by the Federal Reserve , while Asian indexes were weighed by Japanese data that showed its exports slowing in November. KEEPING SCORE: In Europe, Germany's DAX gained 0.1 percent to 10,756.02 and France's CAC 40 was 0.3 percent...

  • US reviews report of imports from forced labor in China camp

    The U.S. government said Tuesday that it is reviewing reports of forced labor at a Chinese internment camp where ethnic minorities are sewing clothes that have been shipped to the U.S. market. U.S. Customs and Border Protection said in a statement that reporting by The Associated Press and other...

  • UK to unveil post-Brexit immigration plan amid business fear

    With 100 days until Britain leaves the European Union , the government was publishing long-awaited plans Wednesday for a post- Brexit immigration system that will end free movement of EU citizens to the U.K. Home Secretary Sajid Javid said the proposals — Britain's biggest immigration changes in...

  • Google, Facebook to pay $450K for Washington state violation

    Google and Facebook have agreed to pay $455,000 to settle allegations that they failed to keep proper records about who was paying for campaign ads on their sites, Washington state Attorney General Bob Ferguson said Tuesday. Google will pay $217,000 and Facebook will pay $238,000 in response to...

  • Social media and misinformation: It's a game of whack-a-mole

    It's a high-stakes game of whack-a-mole with no end in sight. Social media companies are fighting an expensive and increasingly complex battle against Russian trolls who are using catchy memes, bots and fake accounts to influence elections and sow discord in the U.S. and beyond. This week, two...

  • Need some milk? Driverless cars start delivering groceries

    The nation's largest grocery chain stepped into the driverless delivery market Tuesday, bringing milk, eggs and other items to a customer's home in a vehicle with nobody at the wheel. Although limited to delivering within about a mile (1.5 kilometers) of one Arizona supermarket owned by Kroger...

  • Launch of next generation GPS satellite postponed for 1 day

    The launch of a new GPS satellite was postponed for one day Tuesday because of an unspecified problem with the SpaceX Falcon 9 rocket that will put the satellite in orbit. Liftoff was rescheduled for Wednesday at Cape Canaveral, Florida. SpaceX said Tuesday's launch was scratched because of sensor...

  • SoftBank mobile subsidiary has bitter debut on Tokyo market

    SoftBank Group Corp.'s Japanese mobile subsidiary suffered a bitter debut Wednesday on the Tokyo Stock Exchange , slumping 15 percent, hurt by a recent service outage and concerns about the use of parts from Chinese telecom giant Huawei . Shares fetched an opening price of 1,463 yen ($13) and slid...

  • Trump administration moves to ban bump stocks

    The Trump administration Tuesday banned bump stocks, the firearm attachments that allow semi-automatic weapons to fire like machine guns and were used during the worst mass shooting in modern U.S. history.  The regulation gives gun owners until late March to turn in or destroy the devices. After...

  • Stocks mixed in Asia on Fed rate decision, Japanese data

    Asian stocks were mixed on Wednesday, as traders mulled over the Federal Reserve 's interest rate decision and weaker-than-expected Japanese trade data. KEEPING SCORE: Japan's Nikkei 225 index fell 0.4 percent to 21,025.10 while South Korea's Kospi rose 0.6 percent to 2,074.38. Hong Kong's Hang...

  • Prada withdraws luxury trinkets over blackface controversy

    Prada is no longer selling a line of accessories and displays following complaints that they featured blackface-style imagery. The controversy began last week when a New Yorker complained in a viral Facebook posting after walking past a Prada boutique in Manhattan's SoHo district and noticing what...

  • Shutdown threat recedes as Trump softens stance on wall

    President Donald Trump appeared Tuesday to back off his demand for $5 billion to build a border wall, signaling for the first time that he might be open to a deal that would avoid a partial government shutdown. The White House set the tone when press secretary Sarah Huckabee Sanders indicated that...

  • Huawei calls on US, others to show proof of security risk

    The chairman of Huawei challenged the United States and other governments to provide evidence for claims the Chinese tech giant is a security risk as the company launched a public relations effort to defuse fears that threaten its role in next-generation communications. Talking to reporters who...

  • US: German company to plead guilty in VW emissions scheme

    U.S. authorities say a German engineering company has agreed to plead guilty and pay $35 million for its role in the Volkswagen vehicle emissions scandal . The Justice Department said Tuesday that IAV has agreed to plead guilty to conspiracy in Detroit federal court on Jan. 18. The government says...

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