Money & Markets

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 ...

Twitter suspended 58 million accounts

NEW YORK — Twitter suspended at least 58 million user accounts in the final three months of 2017, according to data obtained by The Associated Press. The figure highlights the company's newly aggressive stance against malicious or suspicious accounts in the wake of Russian disinformation ...

MGM sues Vegas shooting victims in push to avoid liability

LAS VEGAS — MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to avoid liability for the gunfire that rained down from its Mandalay Bay casino-resort in Las Vegas. The company argues in lawsuits filed in Nevada, California, ...

Amazon’s Prime Day runs into early snags

the associated press NEW YORK — Amazon's website ran into some early snags Monday on its much-hyped Prime Day, an embarrassment for the tech company on the shopping holiday it created. Shoppers clicking on many Prime Day links after the 3 p.m. ET launch in the U.S. got only images of dogs ...

Mueller probe IDs long-hidden hackers

PARIS — On the morning of March 19, 2016, Den Katenberg ran a little test with big stakes. The previous week, Katenberg's hacking crew had been bombarding the Hillary Clinton campaign's email accounts with fake Google warnings, trying to get her Brooklyn-based staff to panic, enter their ...

Commerce’s Ross selling stock in response to ethics concerns

WASHINGTON — Commerce Secretary Wilbur Ross says he is selling off all his vast stock holdings after news reports raised questions about the timing of some of his stock transactions and he received a sharp reprimand from the chief federal ethics officer. But it's not clear whether the sales ...

Trump says May’s Brexit plan would kill UK-US trade deal

LONDON — U.S. President Donald Trump lobbed a verbal hand grenade into Theresa May's carefully constructed plans for Brexit, saying Thursday that the British leader had wrecked the country's exit from the European Union and likely "killed" chances of a free-trade deal with the United ...

US soon to leapfrog Saudis, Russia as top oil producer

The U.S. is on pace to leapfrog both Saudi Arabia and Russia and reclaim the title of the world's biggest oil producer for the first time since the 1970s. The latest forecast from the U.S. Energy Information Administration predicts that U.S. output will grow next year to 11.8 million barrels ...

United States proposes tariffs on $200 billion more in Chinese imports

WASHINGTON — The Trump administration is readying tariffs on another $200 billion in Chinese imports, ranging from burglar alarms to mackerel, escalating a trade war between the world's two biggest economies. The Office of the U.S. Trade Representative proposed 10 percent tariffs Tuesday on ...

How China could hurt US once it ran out of imports to tax

THE ASSOCIATED PRESS BEIJING — In his trade war with China, President Donald Trump wields one seeming advantage: The United States could ultimately slap tariffs on more than $500 billion in imported Chinese goods. Beijing has much less to tax: It imported just $130 billion in U.S. goods ...