Money & Markets

Questions loom over Tesla deal after CEO reveals Saudi link

SAN FRANCISCO — Tesla CEO Elon Musk's elaboration on his plan to engineer a buyout of the electric car maker could get the Silicon Valley maverick into legal trouble by revealing that the deal is far more uncertain than how he initially described it in his brash tweet last week. If ...

Democrats pour money into longshot races

HOUSTON — Thara Narasimhan, who hosts an Hindu radio program in Houston, has already given $1,200 to a Democrat running against Republican U.S. Rep. Pete Olson, who once drove around his solidly conservative Texas district with a "NEVER HILLARY" bumper sticker on his pickup. Her plans to ...

China’s Xi beset by economic and political challenges

the Associated Press BEIJING — As China's leaders gather for their annual Yellow Sea retreat, the country's political waters are looking choppy. Chinese President and ruling Communist Party leader Xi Jinping is beset by economic, foreign policy and domestic political challenges just ...

Wildfire victims stung by Trump’s trade war

THE Associated Press SANTA ROSA, Calif. — Add this to the challenges facing California wildfire victims: Tariffs. The import tariffs imposed by President Donald Trump are adding thousands of dollars to the cost of building homes. That especially squeezes homeowners who seek to rebuild ...

Florida Gov. wants proof from Sen. Nelson over hacking claim

TALLAHASSEE, Fla. — Florida Gov. Rick Scott, calling the allegations sensational, demanded on Friday that U.S. Sen. Bill Nelson provide proof to back up his statement that Russian operatives have penetrated some of his state's election systems ahead of this year's crucial election. Scott, a ...

Spa and beauty industry hopes to fill 30,000 jobs

the associated press NEW YORK — The spa and beauty industry is growing so fast that 30,000 jobs are going unfilled. A "Get Your Dream Job" campaign is aiming to change that. Lynnelle Lynch is president of Beauty Changes Lives, a foundation committed to "elevating the perception of ...

Tesla CEO’s buyout bid raises eyebrows, legal concerns

SAN FRANCISCO — Tesla CEO Elon Musk is seeking relief from the pressures of running a publicly held company with a $72 billion buyout of the electric car maker, but he may be acquiring new headaches with his peculiar handling of the proposed deal. Almost everything about the deal is ...

Disney says its new streaming service won’t rival Netflix

NEW YORK — Disney's upcoming streaming service won't try to compete directly with Netflix and Amazon, but will focus instead on quality — namely original programs from Disney's "Star Wars," Pixar and Marvel brands. The details from Disney CEO Bob Iger came as Disney reported a growth ...

Pentagon restricts use of fitness trackers, other devices

WASHINGTON — Military troops and other defense personnel at sensitive bases or certain high-risk warzone areas won't be allowed to use fitness-tracker or cellphone applications that can reveal their location, according to a new Pentagon order. The memo, obtained by The Associated Press, ...

Jobs boom favors Democratic counties

MONACA, Pennsylvania — The United States is on pace to add about 2.6 million jobs this year under President Donald Trump's watch. Yet the bulk of the hiring has occurred in bastions of Democratic voters rather than in the Republican counties that put Trump in the White House. On average ...

Astronauts picked for SpaceX, Boeing capsule test flights

CAPE CANAVERAL, Fla. — NASA on Friday assigned the astronauts who will ride the first commercial capsules into orbit next year and bring crew launches back to the U.S. SpaceX and Boeing are shooting for a test flight of their capsules by the end of this year or early next, with the first ...

Trump proposes car-mileage rollback; states sue in protest

WASHINGTON — Citing safety, the Trump administration on Thursday proposed rolling back car-mileage standards, backing away from years of government efforts to cut Americans' trips to the gas station and reduce unhealthy, climate-changing tailpipe emissions. If the proposed rule becomes ...

Tesla burns $739.5 million in cash on way to record 2Q loss

the associated press Electric car maker Tesla Inc. burned through $739.5 million in cash last quarter, paving the way to a company record $717.5 million net loss as it cranked out more electric cars. But CEO Elon Musk pledged to post net profits in future quarters, and on a conference call, ...

Auditors: 30M taxpayers will owe more due to low withholding

WASHINGTON — Congressional auditors say about 30 million people — 21 percent of U.S. taxpayers — will have to come up with more money to pay their 2018 taxes next year because their employers withheld too little from their paychecks under government tables keyed to the new tax law. New ...

Apple shares rise on pricey iPhones

Apple made more money from higher priced iPhones in the latest quarter, even as the number of phones it sold did not change much. The sluggish unit growth means Apple is no longer the second-biggest smartphone maker behind Samsung. Huawei took that spot, research firm IDC said Tuesday, with ...

Trump says ‘no problem’ shutting government

the Associated Press WASHINGTON — Unnerving fellow Republicans, President Donald Trump declared Monday he would have "no problem" shutting down the federal government this fall if Congress won't come up with more money for border security. Trump's threat, his second in two days, put him ...

Officials say fast growth to continue

WASHINGTON — President Donald Trump's top economic policymakers insisted Sunday that the robust growth marked in the April-June quarter will maintain its pace and that he respects the Federal Reserve's independence despite his condemnation of the central bank for raising interest rates. "We ...

CBS looks into misconduct claims amid report on CEO Moonves

NEW YORK — CBS said Friday it is investigating personal misconduct claims after the company's chief executive, Les Moonves, was the subject of a New Yorker story detailing sexual misconduct allegations. The media company said independent members of its board of directors are "investigating ...

Facebook’s day of reckoning

NEW YORK — Facebook faced a day of reckoning Thursday as its shares plunged in the biggest one-day drop in stock-market history. The 19 percent drop vaporized $119 billion of the company's stock-market value; CEO Mark Zuckerberg saw his net worth fall by roughly $16 billion as a result. It ...

Motorcycle maker to boost output in Poland after EU tariffs

the Associated Press The maker of the Indian Motorcycles brand said Wednesday it plans to increase production in Poland after President Donald Trump ordered tariffs on steel and aluminum and the European Union retaliated with tariffs on motorcycles. But the company said the move will not ...