Business News

Michigan Steel Plant Reportedly Planning…

CNBC reports about 200 workers will be affected.

US stocks mostly rise as investors seek more…

Stocks were mostly higher on Wall Street in early trading, extending the market's gains from the day before

Revenues up for Dubai's global port firm DP World

Global port operator DP World is reporting stronger financials for the first half of 2019

United adding new routes in push for high-fare passengers

United adding new routes to Europe with a Boeing jet that will have fewer seats but more in business class

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Protesters skeptical as G7 claims…

The G-7 summit has co-opted the message of its protesters: Capitalism has led to damaging inequalities and environmental degradation that has harmed the global economy and a handful of rich countries can't be the only ones making decisions for the world

Markets Right Now: Stocks give up early gain, move lower

Stocks gave up an early gain and were broadly lower in midday trading on Wall Street. Declines in technology and health care companies Thursday were offsetting gains in banks and other sectors.

Global stocks subdued as investors seek more…

Global stocks mixed after Wall Street gains as investors look ahead to Fed chairman's speech

Long-term mortgage rates near historic lows: 30-year 3.55%

U.S. long-term mortgage rates were near historically low levels this week as the average on the benchmark 30-year loan fell to its lowest level since November 2016. Mortgage buyer Freddie Mac says it declined to 3.55% from 3.60% last week.

Trump flip-flops on tax cuts, saying US has…

President Donald Trump says he has abandoned the idea of cutting taxes to promote economic growth because the US already has 'a strong economy'

Corporate profits slump again in 2Q

Corporate profits fell for a second straight quarter in the spring, as the tax cut windfall wears off and companies contend with uncertainty caused by the Trump administration's trade war with China

China 'will not sit idly by' over US arms sale to…

A senior Chinese officer says the country "will not sit idly by" if the U.S. proceeds with a sale of advanced F-16V fighter jets to Taiwan, and warned of other potential countermeasures in addition to punishing foreign firms involved in the deal

China warns US tariffs will 'escalate trade…

China appeals to Washington to 'meet each other halfway' and settle a tariff war, warns planned U.S. tariff hikes will 'escalate trade friction'

China's rust belt looks abroad as growth slows…

China's northeastern rust-belt region is trying to capitalize on the government's Belt and Road Initiative to build ports, railways and other projects abroad

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AP FACT CHECK: Trump's false claims on fuel…

AP FACT CHECK: President Trump is misrepresenting the facts about his proposal to freeze Obama-era fuel economy requirements at 2021 levels by inflating the cost savings and minimizing the potential environmental harm

Weedmaps to stop advertising unlicensed pot…

The major online pot shop directory and cannabis marketplace Weedmaps says it will no longer allow unlicensed marijuana businesses to advertise on its site

Pentagon cancels billion-dollar missile defense project

The Pentagon is pulling the plug on a billion-dollar, technically troubled project to build a better weapon to destroy incoming missiles

Trump signs student debt forgiveness for disabled…

President Donald Trump signs student debt forgiveness for disabled veterans

$248 million settlement reached with Chinese…

A proposed $248 million settlement has been reached in a decade-old federal court case over defective Chinese drywall that damaged homes and sickened residents

Business Highlights

Economic twilight zone: Bonds that charge you for…

A sign of economic pessimism: Bonds that charge you for lending money

How major US stock indexes fared Wednesday

Stocks closed higher on Wall Street Wednesday as investors applauded encouraging quarterly results from Target, Lowe's and other retailers

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Retailers' results show sharp divide between…

Retailers' results show sharp divide between losers, winners.

Gulf of Mexico oil, gas lease bidding down from last 2 sales

Oil and gas companies made $159.4 million in high bids for federal leases in the Gulf of Mexico, down from sales in March and a year ago

Germany's Merkel dangles possibility of…

German Chancellor Angela Merkel raised the possibility that a negotiated departure of Britain from the European Union might still be possible even as the clock is ticking on a deal that would satisfy both sides