Money & Markets

Court sides with Uber drivers to expand case over pay

SAN FRANCISCO - A federal judge granted class-action status Tuesday to a case in California against Uber over the payment of its drivers.The ruling increases the number of potential California plaintiffs in the lawsuit claiming Uber drivers are incorrectly classified as independent contractors ...

Panel: Airlines should disclose fees, seat size

WASHINGTON - Airlines should clearly disclose the cost of change and cancellation fees, as well as the size of the plane's seats, before a passenger buys a ticket, a federal panel said Tuesday. Hotels should also be required to include any mandatory fees in their room rates, the Transportation ...

FDA issues warning to caffeine distributors

COLUMBUS, Ohio - The Food and Drug Administration has issued warning letters to five distributors of pure powdered caffeine, saying the products put consumers at risk.The letters, which are dated Aug. 27, follow the overdose deaths last year of two young men from Ohio and Georgia.Caffeine ...

Doubts about China’s economic leadership sap confidence

WASHINGTON - The fear that gripped financial markets this month is a stark one: That China's economy might be slipping into a decline that could persist for years.But the world's second-largest economy isn't collapsing - certainly not yet, anyway. What's really in freefall is confidence in its ...

Investors are fleeing once popular emerging markets

NEW YORK - If you think investors in U.S. stocks have had it rough, consider the hapless folks who followed Wall Street's advice to buy emerging-market stocks.The MSCI Emerging Markets index has lost 25 percent over the past year, while the most widely held U.S. fund, the Vanguard Total Stock ...

India’s antitrust probe into Google moves along

SAN FRANCISCO - An investigation into whether Google has been abusing its dominance of Internet search to stifle competition in India is moving into its next phase. The preliminary findings of the three-year-old probe have been submitted to the Competition Commission of India and to Google.The ...

Google tries to woo iPhone owners

SAN FRANCISCO - Google is introducing an application that will connect Android smartwatches with Apple's iPhone, escalating the rivals' battle to strap their technology on people's wrists. The move thrusts Google on to Apple's turf in an attempt to boost the lackluster sales of watches running ...

Eurozone inflation stable at low rate

BRUSSELS - Inflation in the 19-nation eurozone was stable in August at an annual rate of 0.2 percent, an official report shows - another weak figure that may help push the European Central Bank toward doing more economic stimulus. The European Union's statistics agency, Eurostat, said Monday ...

NLRB ruling can hurt small business, groups say

A National Labor Relations Board ruling that modified the definition of an employer could hurt small businesses including franchises and subcontractors, according to industry groups that advocate for those companies. The NLRB decision Thursday came in a case involving waste management company ...

Fed vice chair in spotlight as markets seek rate hike clues

WASHINGTON - What once seemed a sure bet - that the Federal Reserve would raise interest rates in September - suddenly appears less certain following a wild week of stock market turbulence.The market's ride and how the Fed will react provide the backdrop for the annual high-profile economic ...

Facebook hits 1B users milestone in 1 day

NEW YORK - A billion people logged in to Facebook on a single day this week, marking the first time that many members used the world's largest online social network in a 24-hour period. The number amounts to one-seventh of the Earth's population. Monday's milestone was mostly symbolic for ...

US oil prices climb again after Thursday’s jump

NEW YORK - Oil prices surged again Friday, a day after recording their biggest gain in more than six years.U.S. crude rose 6.3 percent to finish at $45.22 per barrel after climbing 10.3 percent on Thursday. That was the biggest one-day jump for U.S. oil since March 2009. The gains ease some ...

Brazilian GDP plunges 1.9 percent in 2Q

RIO DE JANEIRO - The bottom seems to have fallen out of Brazil's economy, with the government reporting Friday that the gross domestic product plunged 1.9 percent in the second quarter alone, once again throwing the nation into a technical recession. It's more bad news for President Dilma ...

The US economy’s 2Q went from solid to stellar

WASHINGTON - The U.S. economy staged a far bigger rebound last quarter than first thought, outpacing the rest of the developed world and bolstering confidence that it will remain sturdy in coming months despite global headwinds.The economy as measured by gross domestic product expanded at an ...

Ruling could ease way for unionizing at fast-food chains

NEW YORK - It could be easier for unions to bargain for better pay and working conditions on behalf of millions of workers at McDonald's, Burger King and other fast-food chains after a National Labor Relations Board ruling on Thursday.The ruling, which came from a case involving a waste ...

Apple schedules new product event for Sept. 9

SAN FRANCISCO - Apple has announced plans for a new product event on Sept. 9 in San Francisco, where the giant tech company is expected to show off new iPhones and other gadgets.The company has introduced a new iPhone model every year around this time. But in typical fashion, Apple is only ...

Amgen wins approval for second cholesterol drug

WASHINGTON - Amgen Inc. has won federal approval for the second medicine in a new class of pricey biotech drugs that reduce artery-clogging cholesterol more than older statin drugs that have been used for decades.The drug Repatha could eventually help millions of Americans who face increased ...

US stocks surge, snap 6-day losing streak

The Dow Jones industrial average rocketed more than 600 points Wednesday, its biggest gain in seven years, snapping a six-day losing streak that had Americans nervously checking their investment balances.While the surge came as a relief to many, Wall Street professionals warned that more rough ...

Monsanto abandons takeover bid for Swiss rival Syngenta

WASHINGTON - Agricultural business giant Monsanto is abandoning its takeover bid for competitor Syngenta AG after the Swiss chemical producer rejected its latest offer of nearly $47 billion.A combination with Basel-based Syngenta would have made Monsanto the world's largest producer of farming ...

Airfare deals pop up as airlines wage fare wars

ABOARD AMERICAN AIRLINES FLIGHT 1223 - Airline fare wars are making a comeback.Don't expect widespread sales or cheap flights home for Thanksgiving. But a number of cities are seeing ridiculously low prices at off-peak hours - prices the industry has spent the years trying to eliminate.Fliers ...