World shares fall as Hong Kong, US-China tensions weigh
BANGKOK (AP) — Shares fell Friday in Europe and Asia as investors awaited a news conference about China by President Donald Trump later in the day.
Twitter adds 'glorifying violence' warning to Trump tweet
WASHINGTON (AP) — Twitter has added a warning to one of President Donald J. Trump's tweets about protests in Minneapolis, saying it violated the platform's rules about “glorifying violence.” Trump, a prolific Twitter user, has been at war with the company since earlier this week, when it applied fact checks to two of his tweets about mail-in ballots.
VW spending $2.2B to expand in China's electric car market
BEIJING (AP) — Volkswagen is spending 2 billion euros ($2.2 billion) to expand its presence in China’s electric car industry in the biggest foreign investment announced since the country's economy began to reopen following the coronavirus pandemic.
Chinese grad students may be next hit by US-China tensions
WASHINGTON (AP) — The Trump administration may soon expel thousands of Chinese graduate students enrolled at U.S. universities and impose other sanctions against Chinese officials in the latest signs of tensions between Washington and Beijing that are raging over trade, the coronavirus pandemic, human rights and the status of Hong Kong.
White House punts economic update as election draws near
WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election.
Debate over $600 in jobless aid to intensify as claims rise
WASHINGTON (AP) — A debate in Congress over whether to extend $600 a week in federally provided benefits to the unemployed looks sure to intensify with the number of people receiving the aid now topping 30 million — one in five workers.
Asia shares fall as US-China tensions douse rally on Wall St
BANGKOK (AP) — Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. Benchmarks declined in Hong Kong, Tokyo and Sydney but rose in Shanghai.
Hong Kong's business hub status imperiled by security law
HONG KONG (AP) — A national security law proposed by China could imperil Hong Kong’s status as one of the world’s best places to do business.
Rising US job losses stir fears of lasting economic damage
WASHINGTON (AP) — The coronavirus crisis threw at least 2.1 million Americans out of work last week despite the gradual reopening of businesses around the country, stoking fears Thursday that the scourge is doing deep and potentially long-lasting damage to the U.S.
Tesla's Musk earns $770M in stock options, company confirms
DETROIT (AP) — Tesla confirmed Thursday that CEO Elon Musk will get the first tranche worth nearly $770 million of a stock-based compensation package triggered by the company meeting several financial metrics.
Regulators approve PG&E bankruptcy plan despite safety fears
BERKELEY, Calif. (AP) — California power regulators on Thursday unanimously approved Pacific Gas & Electric's $58 billion plan for getting out of a bankruptcy caused by a series of deadly wildfires, despite ongoing worries about the utility's ability to safely operate its crumbling electrical grid.
All about Section 230, a rule that made the modern internet
OAKLAND, Calif. (AP) — Twenty-six words tucked into a 1996 law overhauling telecommunications have allowed companies like Facebook, Twitter and Google to grow into the giants they are today.
Court rejects bid to revive cancelled US pipeline program
BILLINGS, Mont. (AP) — A federal appeals court on Thursday turned down the Trump administration's request to revive a permit program for new oil and gas pipelines, an outcome that industry representatives said could delay more than 70 projects across the U.S.
Nordstrom's 1Q sales fell 40% as pandemic shuttered stores
NEW YORK (AP) — Upscale department store retailer Nordstrom reported Thursday that its sales plunged nearly 40% in its fiscal first quarter when the pandemic forced a temporary shutdown of its stores.
41 million jobs lost; homebound gear up to get out, way out
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the national and global response, the work place and the spread of the virus.
US mortgage rates fall; 30-year loan at all-time low 3.15%
WASHINGTON (AP) — Long-term U.S. mortgage rates fell this week as the key 30-year home loan marked an all-time low for the third time in the last few months since the coronavirus outbreak took hold.
Airlines increase job cuts as pandemic crushes air travel
Major airlines on both sides of the Atlantic are cutting even more jobs as they struggle to cope with a plunge in air travel that will leave the airline industry much smaller than it was before the coronavirus pandemic and economic collapse.
Pending home sales plunged 21.8% in April on a monthly basis
BALTIMORE (AP) — April had a record collapse in Americans signing contracts to buy homes, a reflection of the broader shutdown of economic activity in response to the coronavirus outbreak.
US economy shrank at 5% annual rate in Q1
WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter.
EasyJet, American Airlines to slash workforce amid pandemic
LONDON (AP) — European budget carrier easyJet and American Airlines both plan to cut large parts of their workforces as the global aviation industry struggles to cope with a near total halt to travel amid the COVID-19 pandemic.
Orders for US big-ticket factory goods drop 17.2% in April
WASHINGTON (AP) — U.S. orders for big-ticket factory goods plunged for the second straight month in April as the coronavirus pandemic hammered the economy.
Nissan to close Indonesia, Spain auto plants after losses
TOKYO (AP) — Japanese automaker Nissan plans to close auto plants in Spain and Indonesia after sinking into the red for the first time in 11 years as the pandemic squashed global demand and disrupted production.
Spanish workers, officials decry Nissan move to close plant
BARCELONA, Spain (AP) — Angry workers burned tires at the gates of the Nissan carmaking plant in northeastern Spain and prepared for more protests after the Japanese company said it would shut all its manufacturing in the region as it reshuffles its global business.
Patrons under plastic: Restaurants get creative in virus era
PARIS (AP) — Dining at a table where each person is enclosed by a clear plastic shield might look and sound futuristic, but it could be one way for some restaurants to reopen.