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Money & Markets

GM strike in 2nd week: Some progress but no end in sight

NEW YORK — The strike against General Motors by 49,000 United Auto Workers entered its second week Monday with progress reported in negotiations but no clear end in sight. Bargainers met all weekend and returned to talks Monday morning as the strike entered its eighth day. Talks continued ...

Tour company Thomas Cook collapses

LONDON — Longtime British tour company Thomas Cook collapsed after failing to secure rescue funding, and travel bookings for its more than 600,000 global vacationers were canceled early Monday. The British government said the return of the firm’s 150,000 British customers now abroad would ...

Trump says he doesn’t need China trade deal before election

WASHINGTON — As China and the U.S. near a new round of trade talks, President Donald Trump said Friday he doesn’t feel he needs to secure an agreement before next year’s election. Trump told reporters he wants a complete deal with China and won’t accept one that only addresses some of ...

‘Middle of the herd’ no more: Amazon tackles climate change

WASHINGTON — Online shopping giant Amazon revealed a carbon footprint Thursday that rivals that of a small country and vowed to reduce the damage to the planet by cutting its use of fossil fuels. The company, which ships more than 10 billion items a year on fuel-guzzling planes and trucks, ...

Trump bars California from setting stricter fuel standards

WASHINGTON — President Donald Trump announced Wednesday that his administration is revoking California’s authority to set auto mileage standards stricter than those issued by federal regulators, a move critics said would result in less fuel-efficient cars that create more planet-warming ...

US economy could shrug off oil prices if disruption is brief

DALLAS — The price of gasoline crept higher after a weekend attack devastated Saudi Arabian oil output, but if the disruption to global supplies is short-lived, the impact on the U.S. economy will probably be modest. Prices spiked Monday by more than 14%, their biggest single-day jump in ...

GM walkout brings factories and warehouses to a standstill

DETROIT — More than 49,000 members of the United Auto Workers went on strike Monday against General Motors, bringing more than 50 factories and parts warehouses to a standstill in the union’s first walkout against the No. 1 U.S. automaker in over a decade. Workers left factories and ...

‘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 ...