Money & Markets

Ford plans $14B in cost cuts as part of new CEO’s strategy

DETROIT — Ford Motor Co.'s new CEO plans to cut $14 billion in costs, drop some car models and focus the company's resources on trucks, SUVs and electric vehicles as part of a renewed effort to win over skeptical investors. Jim Hackett, who became Ford's CEO in May, met with around 100 ...

FILE - This July 16, 2013, file photo shows a sign at Facebook headquarters in Menlo Park, Calif. Social media giant Facebook is expected to provide Congress on Monday, Oct. 2, 2017, with more than 3,000 ads that ran around the time of the 2016 presidential election and are linked to a Russian ad agency. (AP Photo/Ben Margot, File)

Facebook says estimated 10 million saw Russia-linked ads

WASHINGTON — Facebook says ads that ran on the company's social media platform and have been linked to a Russian internet agency were seen by an estimated 10 million people before and after the 2016 election. The company turned 3,000 ads over to three congressional committees Monday as part ...

Leaving EU with no trade deal will hit United Kingdom industries hard

LONDON — Britain would be hurt more than the European Union if it leaves the EU without a trade deal, according to a study released Sunday amid suggestions that Britain should walk away from Brexit talks because of the inflexibility of the bloc's negotiators. Four of Britain's key ...

India’s flagging economy draws dire warnings of recession

NEW DELHI — Prime Minister Narendra Modi came to power on a euphoric wave of promises to boost India's economy, add millions of jobs and bring "good times" to the developing nation. Three years later, India's economic prospects look decidedly grimmer. India's economic expansion has slowed ...

FILE - In this April 18, 2017, file photo, conference workers speak in front of a demo booth at Facebook's annual F8 developer conference, in San Jose, Calif. One of the congressional committees investigating Russia’s interference in the 2016 election has invited the tech giants Facebook, Twitter and the parent company of Google to appear for a public hearing on Nov. 1. (AP Photo/Noah Berger, File)

House, Senate inviting social media giants to testify

WASHINGTON — The House and Senate intelligence committees are inviting tech giants Facebook, Twitter and Alphabet — the parent company of Google — to appear for public hearings as part of their investigations into Russia's interference in the 2016 election, The Associated Press has ...

Ivanka Trump’s supply chains in China cloaked in secrecy

SHANGHAI — It is no secret that the bulk of Ivanka Trump's merchandise comes from China. But just which Chinese companies manufacture and export her handbags, shoes and clothes is more secret than ever, an Associated Press investigation has found. In the months since she took her White ...

Students get caffeinated soft drinks on campus at Brigham Young University on Thursday, Sept. 21, 2017. According to an online statement from Dean Wright, director of Dining Services, some locations on campus have started serving caffeinated beverages and it will be offered at sporting events. (Sammy Jo Hester/The Daily Herald via AP)

Excitement bubbles up at BYU as caffeinated soda now on sale

PROVO, Utah — Mormon church-owned Brigham Young University ended a six-decade ban Thursday on the sale of caffeinated soft drinks on campus, surprising students by posting a picture of a can of Coca-Cola on Twitter and just two words: "It's happening." The move sparked social media ...

New fight in California water wars: How to update old system

FRESNO, Calif. — In California's long-raging water wars, pitting north against south and farmer against city dweller, the one thing everybody agreed on Wednesday was that the outdated method of shipping water throughout the most populous state needs a serious upgrade. A group of influential ...

American household income finally topped 1999 peak last year

WASHINGTON— In a stark reminder of the damage done by the Great Recession and of the modest recovery that followed, the median American household only last year finally earned more than it did in 1999. Incomes for a typical U.S. household, adjusted for inflation, rose 3.2 percent from 2015 ...

Batista

Brazil businessman turns himself into authorities

SAO PAULO — The former chairman of the world's largest meatpacker, whose testimony implicated Brazil's president in corruption, turned himself in to police Sunday after the country's Supreme Court ordered his arrest. Joesley Batista has avoided prosecution under a plea bargain deal in which ...

China looks at ending sales of gasoline automobiles

BEIJING — China is joining France and Britain in announcing plans to end sales of gasoline and diesel cars. China's industry ministry is developing a timetable to end production and sale of traditional fuel cars and will promote development of electric technology, state media on Sunday ...

Officers, medics sue over chemical plant fire after Harvey

HOUSTON — Seven sheriff's deputies and medical emergency responders who say they were sickened by a chemical fire at a plant outside Houston that flooded during Harvey sued the owner Thursday for gross negligence, seeking $1 million in damages. A state judge granted a temporary restraining ...

Facebook: Accounts from Russia bought ads during US campaign

WASHINGTON — Hundreds of fake Facebook accounts, probably run from Russia, spent about $100,000 on ads aimed at stirring up divisive issues such as gun control and race relations during the 2016 U.S. presidential election, the social network said Wednesday. Although the number of ads is ...

Wisconsin panel changes court rules for Foxconn plant

MADISON, Wis. — Foxconn Technology Group could appeal lawsuits directly to the conservative-controlled Wisconsin Supreme Court, skipping the state appeals court, under changes to a $3 billion incentive package the Legislature's budget-writing committee approved Tuesday. The unprecedented ...

In this Aug. 17, 2017, photo, Hawaii state Rep. Chris Lee poses in front of the capitol. Hawaii is considering doling out universal basic income, where everyone gets a chunk of money with no strings attached, and Lee is a supporter. The idea has attracted supporters across the U.S. and elsewhere as technology leaders, elected officials and economists debate what our lives will look like when robots and machines take over more and more jobs that human beings have held for decades. (AP Photo/Cathy Bussewitz)

As robots edge into workplace, free money idea takes hold

HONOLULU — Driverless trucks. Factory robots. Delivery drones. Virtual personal assistants. As technological innovations increasingly edge into the workplace, many people fear that robots and machines are destined to take jobs that human beings have held for decades. For many affected ...

FILE - In this Friday, Aug. 25, 2017, file photo, Treasury Secretary Steven Mnuchin speaks during a news briefing at the White House in Washington. Mnuchin is calling on Congress to combine a $7.9 billion disaster relief package for Hurricane Harvey with a contentious increase in the nation's debt limit. He says it’s time to "put politics aside" so storm victims can get the help they need.” Trump plans to meet with congressional leaders from both parties this week. (AP Photo/Carolyn Kaster, File)

Mnuchin: Congress must tie Harvey aid to raising debt limit

WASHINGTON — Treasury Secretary Steven Mnuchin on Sunday called on Congress to combine a $7.9 billion disaster relief package for Harvey with an increase in the nation's borrowing limit, saying it was time to "put politics aside" so storm victims in Texas can get the help they need. "The ...

Chinese People's Liberation Army honor guard prepare for the arrival of Brazilian President Michel Temer at Xiamen Gaoqi International Airport to attend the upcoming BRICS Summit in Xiamen, China's Fujian province, Sunday, Sept. 3, 2017.   (Wu Hong/Pool Photo via AP)

BRICS countries summit to meet

XIAMEN, China — A summit of five major developing countries will open Monday to map out their future course, after host Chinese President Xi Jinping called on them to stand up together against a growing tide of protectionism across the world. Leaders of the BRICS nations — Brazil, Russia, ...

President Donald Trump waves as he walks from Marine One to Air Force One at Andrews Air Force Base, Md., Tuesday, Aug. 22, 2017, before his departure to Arizona and Nevada. (AP Photo/Alex Brandon)

Trump administration slashes funds for health care sign-ups

By RICARDO ALONSO-ZALDIVAR the Associated Press WASHINGTON — Affirming its disdain for "Obamacare," the Trump administration on Thursday announced sharp cuts in programs promoting health care enrollment under the Affordable Care Act for next year. Advertising will be cut from $100 ...

ADDS NAME OF REFINERY - This aerial photo shows the Flint Hills Resources oil refinery near downtown Houston on Tuesday, Aug. 29, 2017. (AP Photo/D1avid J. Phillip)

Harvey knocks out more refineries

DALLAS— Hurricane Harvey is sending pump prices higher for U.S. motorists and causing temporary shifts in the flow of oil and gasoline around the world after taking down a huge chunk of U.S. refining capacity. It will be days or even weeks before the energy sector in the southeast Texas ...

A driver works his way through a maze of fallen utility poles damaged in the wake of Hurricane Harvey, Saturday, Aug. 26, 2017, in Taft, Texas. (AP Photo/Eric Gay)

Harvey slams region’s economy, with damages in the billions

By DAVID KOENIG THE ASSOCIATED PRESS DALLAS — Flood damage from Harvey is likely to reach into the tens of billions and the storm is expected to cause the region's economy to shrink, at least in the near term. Harvey is soaking refineries along the Gulf Coast, leading to higher prices ...