New Jersey seeks $640M from Uber for misclassifying workers
TRENTON, N.J. (AP) — New Jersey is seeking more than $640 million from Uber in taxes and penalties, saying the ride-hailing company misclassified its drivers as independent contractors.
Wall Street feuds with Warren, much to her apparent delight
NEW YORK (AP) — Senator Elizabeth Warren’s fight with Wall Street escalated when billionaire investor Leon Cooperman called the presidential candidate’s proposal to put a new tax on the nation’s wealthiest people a plan to “penalize success” and said her ideas “made no sense.” “If this lady wins, we’re in big trouble,” Cooperman said Thursday in an interview on business news channel CNBC.
S&P 500 ekes out record high after listless day of trading
A day of listless trading on Wall Street ended Thursday with another record high for the S&P 500. The benchmark index notched its third consecutive gain after spending most of the day wavering between small gains and losses.
WeWork loses $1.25 billion in third quarter
NEW YORK (AP) — WeWork racked up $1.25 billion in losses in the third quarter as it geared up for, and ultimately scuttled, its debut as a public company.
Disney Plus adds disclaimer about racist movie stereotypes
NEW YORK (AP) — Disney’s new streaming service has added a disclaimer to "Dumbo," “Peter Pan” and other classics because they depict racist stereotypes, underscoring a challenge media companies face when they resurrect older movies in modern times.
Pelosi says agreement on revamped NAFTA ‘imminent’
WASHINGTON (AP) — House Speaker Nancy Pelosi says she wants to see Congress pass President Donald Trump’s revamped North American free trade deal this year.
Powell urges Congress to tackle growing budget deficit
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy.
Energy nominee distances himself from Ukraine investigation
WASHINGTON (AP) — The deputy to outgoing Energy Secretary Rick Perry told lawmakers Thursday that he had no role in the Ukraine matters now at the heart of the House’s impeachment investigation as he tried to distance himself from the controversy with the Senate considering his Cabinet nomination.
US long-term mortgage rates rise; 30-year at 3.75%
WASHINGTON (AP) — U.S. long-term mortgage rates rose this week amid optimism over prospects for the U.S. economy. Rates remain at historically low levels, however, as an incentive to prospective homebuyers.
California faces fraught path out of wildfire, power crisis
The utility that serves more than 5 million electrical customers in one of the world’s most technologically advanced areas is now faced again and again with a no-win decision: risk starting catastrophic deadly wildfires, or turn off the lights and immiserate millions of paying customers.
US chickens headed to China after Beijing lifts 5-year ban
WASHINGTON (AP) — China is lifting a five-year ban on U.S. poultry, a goodwill gesture at a time when the world’s two biggest economies are trying to finalize a tentative trade deal.
Consumer Reports finds vehicle redesigns come with glitches
DETROIT (AP) — When it comes to buying a new car, the latest and greatest may not be the most dependable. In its annual auto reliability survey this year, Consumer Reports found that while newly redesigned models have the latest infotainment, safety and fuel-economy technology, they also come with glitches that frustrate owners.
Wildfires force businesses to prepare for disruption
NEW YORK (AP) — The wildfires that are rampant this time of year in California force small business owners to be prepared in the same way as owners in other parts of the country who deal with tornadoes and other natural disasters.
California businesses at risk amid fires, power outages
NEW YORK (AP) — The California wildfires are taking a toll on small businesses, including those that are miles away and safe from the flames.
Walmart offers holiday cheer as traditional peers struggle
NEW YORK (AP) — Walmart is offering some holiday cheer heading into the crucial Christmas shopping season even as many of its traditional peers struggle.
Sizing up the 2019 holiday shopping season for retailers
NEW YORK (AP) — With two weeks until the official start of the holiday shopping season, the nation’s retailers are gearing up for what should be another brutally competitive shopping period.
Pope demands tech companies prevent kids from viewing porn
VATICAN CITY (AP) — Pope Francis called Thursday for Facebook, Apple, Microsoft, Google and other tech companies to urgently take measures to remove child porn from the web and prevent children from accessing pornography online.
Automaker Daimler to save $1.54B by cutting manager posts
BERLIN (AP) — German automaker Daimler says it plans to slash costs 1.4 billion euros ($1.54 billion) by cutting every tenth managerial position and other austerity measures.
Norway fund blacklists security firm G4S over rights worries
COPENHAGEN, Denmark (AP) — Norway's sovereign wealth fund says it is banning all financial holdings in British security services company G4S due to the risk that it “contributes to or is responsible for serious or systematic human rights violations.” The board of the world's largest fund of its kind said Thursday’s decision came after a recommendation from Norway’s Council on Ethics, which monitors investments.
US producer prices up 0.4% in October
WASHINGTON (AP) — U.S. producer prices rose 0.4% in October, the biggest jump in six months, reflecting a surge in energy costs. The Labor Department said Thursday that the October increase in its producer price index, which measures price pressures before they reach consumers, followed a 0.3% decrease in September.
Ferrari aims to entice new clients with Roma coupe
ROME (AP) — Ferrari has unveiled a new sports coupe aimed at enticing new buyers and competing with the Porsche 911, part of an overhaul of its model lineup by 2022.
Global markets lower amid uncertainty about US-China trade
BEIJING (AP) — Global stock markets slipped Thursday amid doubts about a U.S.-Chinese trade deal and after the U.S. Federal Reserve chairman said it is likely to leave its benchmark interest rate unchanged.
Iraq’s protests raise question: Where does the oil money go?
BAGHDAD (AP) — Waves of violent protests have engulfed Baghdad and Iraq’s southern provinces, with demonstrators chanting for the downfall of a political establishment that they say doesn’t prioritize them.
China presses Washington for tariff cut in trade deal
BEIJING (AP) — China pressed Washington on Thursday to roll back punitive tariffs in a tentative trade deal. A tariff cut is an “important condition” for the agreement that is part of talks on ending a costly trade war, said Commerce Ministry spokesman Gao Feng.