Money & Markets

US auto sales show big gains, except at Volkswagen

DETROIT - September was a blockbuster sales month for the U.S. auto industry - except at Volkswagen, where an emissions scandal forced the company to halt sales of most of its diesel-powered vehicles.Strong consumer demand, easy credit and generous incentives combined to fill dealer showrooms. ...

Nearly two-thirds of UAW members reject Fiat Chrysler deal

DETROIT - Nearly two thirds of United Auto Workers at Fiat Chrysler voted to reject a proposed contract agreement with the company.Sixty-five percent of the membership voted against the pact, the union said Thursday, sending UAW leaders scrambling for a Plan B. Union leaders from across the ...

Experian: 15M have info stolen in T-Mobile hack

NEW YORK - Hackers have stolen personal information belonging to about 15 million T-Mobile wireless customers and potential customers in the U.S., including Social Security numbers, home addresses, birthdates and other personal information.In the latest high-profile breach, the hackers got the ...

Root of investor anxiety: Uncertainty about China, Fed

Fears about China's slowdown and a coming U.S. interest rate hike have sent global stock markets into a fidgety freefall.But why? China's economy has been slowing for years. And the Federal Reserve has long been expected to raise short-term interest rates from near zero, where it's kept them ...

Ex-coal baron readies for trial in deadly mine explosion

CHARLESTON, W.Va. - Don Blankenship ascended from a modest, single-mother upbringing in Appalachia to personally make almost $20 million off coal in one year. He battled unions, spent millions as lead puppeteer behind Republican state politics and fought regulators over safety and environmental ...

Whole Foods to stop selling products made by inmates

NEW YORK - Whole Foods will stop selling products made using a prison labor program after a protest at one of its stores in Texas.The company said the products should be out of its stores by April 2016, if not sooner. Whole Foods said it has sold tilapia, trout and goat cheese produced through ...

Exxon Mobil to sell troubled Calif. refinery

LOS ANGELES - Exxon Mobil Corp. is selling its troubled Southern California refinery for $537 million to a New Jersey energy company more than six months after an explosion crippled the plant and led to higher gas prices in the Golden State, according to an announcement Wednesday. PBF Energy ...

Votes this week will decide fate of Fiat Chrysler-UAW deal

DETROIT - The next two days will be critical in deciding the fate of a new four-year contract between Fiat Chrysler and the United Auto Workers.In early voting, workers at several factories rejected the deal, but those at a pickup truck plant in Warren, Michigan, voted in favor.UAW leaders are ...

Keystone XL developer drops landowner lawsuits in Nebraska

LINCOLN, Neb. - The developer of the Keystone XL pipeline is shifting course in Nebraska and will withdraw lawsuits seeking to gain access to the property of landowners who oppose the project, the company announced Tuesday.TransCanada Inc. said it will abandon its current efforts to invoke ...

Ralph Lauren hands off CEO role

NEW YORK - Ralph Lauren is handing off his title as CEO of the fashion and home decor empire that he founded nearly 50 years ago.The New York-based company announced Tuesday that Stefan Larsson, the global president of Gap's thriving low-price Old Navy chain, will take on the role. The change ...

Peru suspends civil liberties after clash

LIMA, Peru - Peru's government suspended civil liberties Tuesday and mobilized the military in a highlands region after four people were killed and 22 injured in a clash between police and farmers over a Chinese-owned copper mining project.The state of emergency is the second declared this year ...

German prosecutors investigate former VW boss

BERLIN - German prosecutors on Monday opened an investigation against former Volkswagen CEO Martin Winterkorn to establish what his role was in the emissions-rigging scandal that has shaken the world's largest automaker.The investigation will concentrate on the suspicion of fraud committed ...

Senate advances bill to avoid shutdown

WASHINGTON - The Senate has given a strong vote of confidence to a bipartisan spending bill that's needed to head off a government shutdown at midnight Wednesday. The 77-19 vote powers the measure past a filibuster by some of the chamber's most ardent conservatives.They were angered that ...

Presidential candidate Trump proposes tax cuts for all

NEW YORK - After weeks of vowing to raise taxes on "hedge fund guys" and high-income earners, Republican presidential front-runner Donald Trump unveiled a tax plan Monday that would cut rates across the board and reduce the amount paid by wealthiest Americans and corporations into the U.S. ...

Nexstar offers about $1.9B for Media General

Nexstar Broadcasting, attempting to drive a wedge between Media General and Meredith Corp., offered nearly $1.9 billion to buy Media General on Monday. Media General Inc. earlier this month made a $2.4 billion offer for Meredith, which owns television stations and publishes about 20 magazines. ...

US consumer spending up 0.4 percent in Aug.

WASHINGTON - U.S. consumer spending rose at a healthy rate in August, while income growth slowed after a big jump in July.Consumer spending advanced 0.4 percent compared to July, when spending also increased by 0.4 percent, the Commerce Department said Monday. In both months, the figures ...

VW faces daunting challenges in fixing emissions cheating

DETROIT - Volkswagen faces daunting challenges in fixing software that enables cheating on diesel engine emissions tests, a task that's becoming more urgent because of growing anger from customers.The company has set aside $7.3 billion to pay for the scandal. But experts say it's likely to cost ...

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 ...