Money & Markets

‘I was stupid’: Huffman gets 14 days in college scam

BOSTON — “Desperate Housewives” star Felicity Huffman was sentenced Friday to 14 days in prison for paying $15,000 to rig her daughter’s SAT scores, tearfully apologizing to the teenager for not trusting her to get into college on her own. “I was frightened, I was stupid, and I was ...

Tentative opioids settlement falls short of nationwide deal

HARTFORD, Conn. — A tentative settlement announced Wednesday over the role Purdue Pharma played in the nation’s opioid addiction crisis falls short of the far-reaching national settlement the OxyContin maker had been seeking for months, with litigation sure to continue against the company ...

Apple rolls out new streaming TV service for $5 a month

CUPERTINO, Calif. — Apple is finally taking on Netflix with its own streaming television service and, uncharacteristically for the company, offering it at a bargain price — $5 a month beginning on Nov. 1. Walt Disney Co. is launching its own assault on Netflix the same month, for just ...

Looking to hire 30,000, Amazon organizes nationwide job fairs

NEW YORK — Amazon is going on a hiring spree. The online shopping giant is holding job fairs across the country next week, aiming to hire more than 30,000 people by early next year, a 5% bump in its total workforce. Amazon is looking for all kinds of workers, from software engineers who ...

UK worries Brexit could bring ‘chlorinated chicken’ from US

NEW YORK — Could Brexit bring America’s “chlorinated chicken” to the United Kingdom? The European Union has long refused to import poultry from the United States that is routinely rinsed with chemical washes to kill germs. But the United Kingdom’s planned exit from the EU is putting ...

As feds loom, states hit Facebook, Google with new probes

WASHINGTON — Two groups of states are targeting Facebook and Google in separate antitrust probes, widening the scrutiny of Big Tech beyond sweeping federal and congressional investigations into their market dominance. Facebook and Google are two of the world’s largest and most ubiquitous ...

Administration unveils plan to privatize Fannie, Freddie

WASHINGTON — The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The ...

YouTube to pay $170M fine after violating kids’ privacy law

WASHINGTON — Google will pay $170 million to settle allegations its YouTube video service collected personal data on children without their parents’ consent. The company agreed to work with video creators to label material aimed at kids and said it will limit data collection when users ...

California city experiments with universal basic income

STOCKTON, Calif. — Democratic presidential candidate Andrew Yang wants to give cash to every American each month. Susie Garza has never heard of Yang. But since February, she’s been getting $500 a month from a nonprofit in Stockton, California, as part of an experiment that offers ...

US to use fake social media to check people entering country

WASHINGTON — U.S. Citizenship and Immigration Services officers can now create fictitious social media accounts to monitor social media information on foreigners seeking visas, green cards and citizenship. An updated Homeland Security Department review of potential privacy issues dated July ...

Yankees join Amazon, Sinclair to buy YES from Disney

NEW YORK — The New York Yankees have reacquired the YES Network, joining Amazon and the Sinclair Broadcast Group to buy an 80% stake in the channel from The Walt Disney Co. The deal announced Thursday values YES at $3.47 billion, nearly $500 million less than when 21st Century Fox acquired ...

OxyContin maker negotiating settlement worth $12B

COLUMBUS, Ohio — Purdue Pharma would devote its profits to cleaning up the devastation wrought by opioids, and the controlling Sackler family would be out, under a $10 billion to $12 billion nationwide settlement taking shape at the negotiating table, according to published reports ...

BP to shed Alaska assets, sell to Hilcorp Alaska for $5.6B

JUNEAU, Alaska — BP plans to sell its interests in Alaska’s once prodigious North Slope to a company seen as having a reputation of giving new life to aging fields. The sale to Hilcorp Alaska, an affiliate of Texas-based Hilcorp Energy Co., would be worth $5.6 billion, and include ...

Judge rules against drugmaker, orders $572M payment

NORMAN, Okla. — An Oklahoma judge on Monday found Johnson & Johnson and its subsidiaries helped fuel the state’s opioid crisis and ordered the consumer products giant to pay $572 million, more than twice the amount another drug manufacturer agreed to pay in a settlement. Cleveland ...

Trump sends mixed messages to China on trade war

BIARRITZ, France — Injecting fresh uncertainty at a time of global economic jitters, President Donald Trump sent mixed messages Sunday on the U.S.-China trade war as leaders at a global summit pushed the unpredictable American president to ease frictions over tariffs and cooperate on other ...

Trump raises tariffs on Chinese goods as trade war escalates

WASHINGTON — President Donald Trump angrily escalated his trade fight with China on Friday, raising retaliatory tariffs and ordering American companies to consider alternatives to doing business there. He also blamed Jerome Powell, the man he appointed as chairman of the Federal Reserve, ...

California sails toward biggest salmon harvest in years

SAN FRANCISCO — Trolling off the California coast, Sarah Bates leans over the side of her boat and pulls out a long, silvery fish prized by anglers and seafood lovers: wild king salmon. Reeling in a fish “feels good every time,” but this year has been surprisingly good, said Bates, a ...

Economic twilight zone: Bonds that charge you for lending

FRANKFURT, Germany — Imagine lending money to someone and having to pay for the privilege of doing so. Or being asked to invest and informed of how much money you’ll lose. Sounds absurd, but increasingly that’s the global bond market these days. A rising share of government and ...

Trump acknowledges China policies may mean US economic pain

WASHINGTON — President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they’re needed for more important long-term benefits. He contended he does not fear a recession but is nonetheless considering new tax cuts to ...

Brand-name drug prices rising at slower pace

TRENTON, N.J. — Drug companies are still raising prices for brand-name prescription medicines, just not as often or by as much as they used to, according to an Associated Press analysis. After years of frequent list price hikes, many drugmakers are showing some restraint, according to the ...