Money & Markets

Paris goes car-less for a day in bid to cut pollution

PARIS - Pretty but noisy Paris, its gracious Old World buildings blackened by exhaust fumes, is going car-less for a day. Paris Mayor Anne Hidalgo presided over Sunday's "day without cars," two months before the city hosts the global summit on climate change.The symbolic initiative is aimed at ...

Economy grew at 3.9 percent rate in April-June quarter

WASHINGTON - The U.S. economy grew at an even faster clip in the spring than previously estimated. But that growth likely slowed in the summer, held back by global headwinds and turbulent financial markets.The overall economy expanded at an annual rate of 3.9 percent in the April-June quarter, ...

Hyundai recalls 470,000 Sonatas

DETROIT - Hyundai is recalling nearly a half-million midsize cars in the U.S. to replace the engines because a manufacturing problem could cause them to fail. The recall covers 470,000 Sonata sedans from the 2011 and 2012 model years equipped with 2-liter or 2.4-liter gasoline engines. At the ...

Trump: NAFTA trade deal a ‘disaster’

WASHINGTON - Republican presidential front-runner Donald Trump says he wants to be able to slap tariffs on U.S. companies that choose to make their products overseas, and he's willing to violate existing trade deals to do it. In an interview with CBS' "60 Minutes" that will be broadcast Sunday, ...

Yellen says she expects Fed to raise rates by year’s end

WASHINGTON - Chair Janet Yellen said Thursday that she expects the Federal Reserve to begin raising interest rates from record lows by the end of the year.In a lecture at the University of Massachusetts at Amherst, Yellen said she thought inflation would gradually move up to the Fed's target ...

Chinese billionaire in US custody 20 years after scandal

NEW YORK - One of the world's wealthiest people - a Chinese real estate mogul at the center of a Democratic campaign fundraising scandal two decades ago - has been grounded from his fleet of private planes and stripped of his $200,000 watch after his incarceration without bail as the United ...

Oculus takes aim at mainstream

LOS ANGELES - Virtual reality is taking a few steps closer to the mainstream with Samsung unveiling a headset that brings the technology to its latest smartphones at half the price of its previous model, Facebook launching support for 360-degree video, and online video services like Netflix and ...

Hollister to remove steps from entrances

DENVER - The clothing chain Hollister will get rid of steps at its trademark entrances at dozens of stores across the U.S. to make the doorways wheelchair accessible as part of a settlement approved Thursday by a federal judge.The agreement marks the end of a six-year court battle involving the ...

Boeing holds opening for SC technology center

NORTH CHARLESTON, S.C. - Boeing, which now employs about 7,500 in South Carolina, celebrated another expansion in the state on Thursday with the grand opening of its new research and technology center a few miles from the massive plant where it assembles the 787 Dreamliner. Hundreds of workers, ...

Volkswagen CEO steps down, takes responsibility for scandal

BERLIN - Volkswagen CEO Martin Winterkorn resigned Wednesday, days after admitting that the world's top-selling carmaker had rigged diesel emissions to pass U.S. tests during his tenure.No replacement was announced, and VW still has no easy exit from a scandal that has suddenly dented a ...

GOP pragmatists protest tea party shutdown tactics

WASHINGTON - Rank-and-file Republican lawmakers are increasingly protesting the tactics of tea party colleagues who demand that legislation to keep the government open also take away federal funding for Planned Parenthood. The leading proponent of bringing the fight over funding the group to a ...

Fury over drug price spikes rising, but increases aren’t new

TRENTON, N.J. - Hillary Clinton was among the patients and politicians who voiced outrage this week after it became public that the price of a 62-year-old drug used to treat a life-threatening infection had been raised by more than 5,000 percent.But exorbitant drug price hikes like that have ...

Robot revolution sweeps China’s factory floors

SHENZHEN, China - In China's factories, the robots are rising.For decades, manufacturers employed waves of young migrant workers from China's countryside to work at countless factories in coastal provinces, churning out cheap toys, clothing and electronics that helped power the country's ...

Egypt buys 2 warships from France

PARIS - Egypt has agreed to buy two assault ships from France, the French government said Wednesday, dramatically increasing its capabilities on- and off-shore as the country tries to assume a more prominent role against Islamic State militants.The assault ships, which can each carry 16 ...

Stakes high as Obama and Xi confront evolving economic ties

WASHINGTON - The United States and China can't go on this way.As President Barack Obama meets President Xi Jinping in Washington this week, the world's two biggest economies are trying to rework their tangled relationship as partners and rivals - the frenemies of the globalized ...

Subaru plans $140M expansion of factory

LAFAYETTE, Ind. - Subaru announced Monday it plans to spend $140 million to boost vehicle production at an Indiana factory and add up to 1,200 jobs in the next two years. The Lafayette factory will see its production capacity grow by 100,000 vehicles a year from its current 300,000, the company ...

French regulator rejects Google appeal

PARIS - France's data privacy regulator rejected Google's appeal of an order to remove search results worldwide upon request, saying Monday that companies that operate in Europe need to abide by the prevailing laws.The agency known as CNIL denied that it was trying to apply French law on the ...

US home sales slide in August after gains

WASHINGTON - U.S. home sales slid in August by the most since January as tight supplies and rising prices discouraged potential buyers. The National Association of Realtors said Monday that sales of existing homes fell 4.8 percent from the previous month to a seasonally adjusted annual rate of ...

Cyberespionage puts ‘enormous strain’ on ties

WASHINGTON - Cyberespionage for economic gain by China is putting "enormous strain" on U.S.-China relations and needs to stop, President Barack Obama's national security adviser said Monday.Susan Rice was speaking on relations between the two world powers at George Washington University ahead ...

VW chief “sorry” after EPA says firm skirted clean air law

WASHINGTON - The CEO of Volkswagen apologized Sunday and VW customers said they felt duped after the Environmental Protection Agency revealed that the German automaker skirted clean air rules by rigging emissions tests for about 500,000 diesel cars."I personally am deeply sorry that we have ...