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Business

California utility expects to pay $2.5 billion for wildfires

Northern California Wildfires Utility

SAN FRANCISCO (AP) — A Northern California utility said Thursday it expects to pay at least $2.5 billion in connection with deadly wildfires that whipped through wine country last October — some of them ignited by its fallen power lines. Pacific Gas & Electric Co. also warned that its liability...


Business

Intel CEO out after consensual relationship with employee

Intel CEO Resigns

NEW YORK (AP) — Intel CEO Brian Krzanich resigned after the company learned of what it called a past, consensual relationship with an employee. Intel said Thursday that the relationship was in violation of the company’s non-fraternization policy, which applies to all managers. Spokesman William...


Business

OPEC enters meeting that could set direction of oil prices

OPEC Meeting

Officials from major oil-producing nations are expected to agree this week to boost output, but just how much they will open the spigot — and the effect on oil prices — remain wild cards. Ministers from the Organization of the Petroleum Exporting Countries and non-OPEC nations led by Russia are...


Auto

Chevrolet goes after Jeep Grand Cherokee with new Blazer

General Motors New SUV

DETROIT (AP) — Because these days you can’t have too many SUVs, General Motors is bringing back the Chevrolet Blazer. Only this time it’s not a thirsty and boxy truck like its predecessor, one of the original SUVs that was sold from the 1982 through 2005 model years. SUVs based on car underpinnings,...


National Business

Fed finds biggest US banks strong enough to survive shock

Fed Bank Stress Tests

WASHINGTON (AP) — The Federal Reserve says that all of the 35 largest U.S. banks are fortified enough to survive an economic shock and keep on lending. Banks’ hypothetical losses from credit cards increased in the latest “stress tests,” however. The first round of the central bank’s annual stress...


Business

High Court: Online shoppers can be forced to pay sales tax

Supreme Court Sales Tax

WASHINGTON (AP) — States will be able to force more people to pay sales tax when they make online purchases under a Supreme Court decision Thursday that will leave shoppers with lighter wallets but is a big financial win for states. Consumers can expect to see sales tax charged on more online...


Business

AP Top Business News at 9:00 p.m. EDT

Trump jabbed first, and now world hits back in trade fight Fed finds biggest US banks strong enough to survive shock OPEC enters meeting that could set direction of oil prices High Court: Online shoppers can be forced to pay sales tax What’s that extra in my online cart? Soon, maybe a sales tax...


Business

What's that extra in my online cart? Soon, maybe a sales tax

Supreme Court Sales Tax

NEW YORK (AP) — Attention shoppers: You may soon be paying more taxes on what you put in your online cart. The Supreme Court ruled Thursday that states can require online retailers to collect sales tax on purchases that come from states where they don’t have any shops, offices or warehouses. Before...


National

US stocks skid as industrials, automakers, tech trade lower

Financial Markets Wall Street

NEW YORK (AP) — Car makers and technology and industrial companies fell Thursday as investors focused on the U.S.-China trade dispute, which could reduce company spending and earnings. The Dow Jones Industrial Average slipped for the eighth day in a row. While investors generally don’t expect a...


Business

Government's key witness testifies at Buffalo Billion trial

NEW YORK (AP) — The government’s prized cooperator at a corruption trial that grew from an ambitious New York state redevelopment plan known as the Buffalo Billion began his testimony Thursday, describing how a developer and a key player in the project forged a solid relationship after bonding...


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