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Money & Markets

Boeing ousts its CEO after two deadly 737 Max crashes

NEW YORK — Boeing ousted CEO Dennis Muilenburg on Monday with no end in sight to the crisis that has engulfed the vaunted American aircraft manufacturer since the crash of two of its 737 Max airliners. The Boeing board had supported Muilenburg for months despite calls for his resignation ...

Twitter, Facebook ban fake users; some had AI-created photos

NEW YORK — Twitter has identified and removed nearly 6,000 accounts that it said were part of a coordinated effort by Saudi government agencies and individuals to advance the country’s geopolitical interests. Separately, Facebook said it removed hundreds of Facebook accounts, groups and ...

Big spending bill wins Senate OK, has victories all around

WASHINGTON — The Senate passed a $1.4 trillion government spending package Thursday in a last bipartisan burst of legislating before bolting for the holidays from a Capitol riven by impeachment. Lawmakers cleared the two-bill package in a set of votes, sending it to President Donald Trump ...

North America trade pact deals rare setback to Big Pharma

A revamped North American trade deal nearing passage in Congress gives both the White House and Democrats a chance to claim victory and offers farmers and businesses clearer rules governing the vast flow of goods among the United States, Canada and Mexico. But the pact leaves at least one ...

Lobbyists, interest groups win big in $1.4T spending bill

WASHINGTON — House leaders on Monday unveiled a $1.4 trillion government-wide spending bill that’s also carrying lots of unrelated provisions backed by denizens of Washington’s swamp of lobbyists and interest groups. A House vote is slated for Tuesday. Retired coal miners and labor ...

How US-China trade deal achieved a little but left out a lot

WASHINGTON — The limited trade deal that the Trump administration and Beijing announced Friday means Americans will avoid a holiday tax increase on imported toys, clothing and smartphones. U.S. farmers can sell more soybeans and pork to China. And American companies should face less pressure ...

US and China near deal that would suspend planned tariffs

WASHINGTON — The Trump administration and China are close to finalizing a modest trade agreement that would suspend tariffs that are set to kick in Sunday, de-escalating their 17-month trade war. A “deal is close,’’ said Myron Brilliant, the U.S. Chamber of Commerce’s head of ...

Fed leaves low rates alone and foresees no moves in 2020

WASHINGTON — The Federal Reserve left its benchmark interest rate alone Wednesday and signaled that it expects to keep low rates unchanged through next year. The Fed’s decision follows three rate cuts earlier this year. It reflects its view that the U.S. economy has so far withstood the ...

Democrats, White House forge new North American trade deal

WASHINGTON — House Democrats and the White House announced a deal Tuesday on a modified North American trade pact, handing President Donald Trump a major Capitol Hill win on the same day that impeachment charges were announced against him. Both sides hailed the deal as a win for American ...

Amazon says Trump’s ‘improper pressure’ doomed Pentagon bid

Amazon says President Donald Trump’s “improper pressure” and behind-the-scenes attacks harmed its chances of winning a $10 billion Pentagon contract. The Pentagon awarded the cloud computing contract to Microsoft in October. Amazon argues in a lawsuit unsealed Monday in the U.S. Court ...

Q&A: Does a manufacturing slump threaten the US economy?

WASHINGTON — Defying fears and predictions, the U.S. economy is still shrugging off President Donald Trump’s trade conflicts. Employers added a sizzling 266,000 jobs in November, and unemployment matched a 50-year low of 3.5% — all while the Trump administration is waging a bruising ...

Elon Musk cleared of defamation in ‘pedo guy’ tweet trial

LOS ANGELES — Elon Musk defeated defamation allegations Friday from a British cave explorer who claimed he was branded a pedophile when the Tesla CEO called him “pedo guy” in an angry tweet. Vernon Unsworth, who participated in the rescue of 12 boys and their soccer coach trapped for ...

New details emerge on drug that may slow Alzheimer’s disease

SAN DIEGO — A company that claims to have the first drug to slow mental decline from Alzheimer’s disease made its case to scientists Thursday, disclosing more results that may help explain why one study of the experimental medicine succeeded and another failed. Excitement and skepticism ...

668,000 will lose food stamp benefits under new work rules

WASHINGTON — Hundreds of thousands of Americans who rely on the federal food stamp program will lose their benefits under a new Trump administration rule that will tighten work requirements for recipients. The move by the administration is the latest in its attempt to scale back the social ...

Gun background checks are on pace to break record in 2019

Background checks on gun purchases in the U.S. are climbing toward a record high this year, reflecting what the industry says is a rush by people to buy weapons in reaction to the Democratic presidential candidates’ calls for tighter restrictions. By the end of November, more than 25.4 ...

Now Roquefort: US eyes tariffs on $2.4B in French imports

WASHINGTON — The Trump administration is proposing tariffs on up to $2.4 billion worth of French imports — including Roquefort cheese, handbags, lipstick and sparkling wine — in retaliation for France’s tax on American tech giants like Google, Amazon and Facebook. The Office of the ...

Head start on holiday deals tempers Black Friday frenzy

NEW YORK — Black Friday enthusiasts woke up before dawn and traveled cross-state to their favorite malls in search of hot deals, kicking off a shortened shopping season that intensified the scramble between Thanksgiving and Christmas. But the ever-growing popularity of online shopping and ...

Ad business a boon for Amazon but a turn-off for shoppers

NEW YORK — Mike Maddaloni went to Amazon.com knowing exactly what he wanted to buy. But instead of showing him the Synology router he was searching for at the top of his results, Amazon bombarded him with ads for hard drives and routers that he didn’t want. Maddaloni, a web strategist ...

Jerome meets Jasmine: Fed chief observes economic struggles

EAST HARTFORD, Connecticut — Federal Reserve Chairman Jerome Powell normally spends his days in the marble halls of Washington, meeting with senators and Fed economists. On Monday, he learned about the job market from an 18-year-old named Jasmine. A recent high school graduate, Jasmine ...

An emerging priority for Powell Fed: The plight of the poor

WASHINGTON — Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies. “We want to remind ourselves,” Powell ...