Business News

Global oil demand is dropping, but US drivers keep buying more gas

NEW YORK (AP) — Global oil demand is set to decline this year for the first time since the height of...

SK Hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy

NEW YORK (AP) — Shares of South Korean memory chipmaker SK Hynix rose 12.8% as they made their debut...

Volkswagen sales plunge as German automaker lays out plan to slash number of brands

BERLIN (AP) — Volkswagen reported weak sales numbers on Friday, a day after the giant German automaker...

EU demands Facebook and Instagram dismantle design features it calls addictive for users

The European Union accused Meta on Friday of breaching its social media law by designing Facebook and...

US stocks rise as Wall Street shows it's still hungry for AI winners

NEW YORK (AP) — U.S. stocks ticked higher Friday after Wall Street showed its appetite is still big...

A shoe factory fire that killed 28 highlights China's persisting worker safety risks

BEIJING (AP) — Authorities were investigating a blaze at a shoe factory in southeastern China’s Fujian...

Africa secures $900 million in new clean cooking commitments

NAIROBI, Kenya (AP) — African countries have secured $900 million in new financial commitments to expand...

Andreessen, Chetty among leaders of Fed's new task forces evaluating operations

WASHINGTON (AP) — Venture capitalist Marc Andreessen , economist Raj Chetty and former Bank of England...

Average 30-year US mortgage rate rises to 6.49%, pushing up homebuyers' borrowing costs

The average long-term U.S. mortgage rate drew closer this week to 6.5%, pushing up borrowing costs fo...

US home prices hit an all-time high as sales slow and mortgage rates rise

Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to...

US jobless claims dip modestly to 215,000 last week as layoffs remain at historically healthy levels

WASHINGTON (AP) — The number of Americans filing for unemployment benefits dipped slightly last week...

PepsiCo says economic concerns weighed on customers in North American during recent quarter

NEW YORK (AP) — PepsiCo reported stronger-than-expected revenue in the second quarter despite weaker...

China’s passenger car exports are up 80% in June as EV demand grows, while sales drop at home

HONG KONG (AP) — China’s passenger car exports surged 80% in June from a year earlier, mainly due to...

Australia agrees to sell uranium to India, ending a long stalemate

WELLINGTON, New Zealand (AP) — Australia will begin to sell uranium to India for peaceful purposes...

Stocks recover losses, and oil prices ease as calm returns to financial markets worldwide

NEW YORK (AP) — Stocks rose, and oil prices eased Thursday as financial markets calmed in the wait...

Meta plans billions for first AI data center in Canada, largest outside the US

EDMONTON, Alberta (AP) — Facebook and Instagram parent Meta said Wednesday it will invest more than...

The tenuous state of a US-Iran ceasefire renews anxiety over high fuel prices

NEW YORK (AP) — The potential unraveling of a fragile truce between Iran and the United States renewed...

Fed minutes: Officials deeply divided over future path of US inflation

WASHINGTON (AP) — The Federal Reserve's rate-setting committee is split over whether inflation is likely...

IMF expects world economy to grow a sluggish 3% this year, weighed down by Iran war but helped by AI

WASHINGTON (AP) — The International Monetary Fund on Wednesday modestly downgraded its outlook for th...

The best used sedans for under $15,000, according to Edmunds

According to Edmunds data, the average transaction price of a 3-year-old used vehicle is more than $30,000...

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