Saturday, March 16, 2019

business news

business news

US Business Groups Encouraged by Prospect of US-China Deal - U.S. News & World Report

Posted: 15 Mar 2019 03:17 PM PDT

[unable to retrieve full-text content]US Business Groups Encouraged by Prospect of US-China Deal  U.S. News & World Report

WASHINGTON (AP) — U.S. business groups say they are encouraged by China's approval of a new law that loosens restrictions on foreign investment and say ...

Business news in brief | Business -

Posted: 13 Mar 2019 10:30 PM PDT

OxyContin maker considers bankruptcy

The company that has made billions selling the prescription painkiller OxyContin said Wednesday that it is considering legal options including bankruptcy, a move that could upend hundreds of lawsuits claiming it had a major role in causing the U.S. opioid drug crisis.

"As the company has stated, it is exploring and preparing for any number of eventualities and options, given the amount of litigation the company currently faces," Purdue Pharma spokesman Robert Josephson said in an email to The Associated Press. "A decision has not been made to file for bankruptcy, nor is there a timetable."

AT&T raises prices for DirecTV Now

NEW YORK — AT&T is raising prices for its DirecTV Now streaming TV service, while removing some networks from the cable-like television package.

The changes come just weeks after a U.S. appeals court upheld the company's Time Warner takeover. The Justice Department fought it, arguing it would lead to higher prices.

DirecTV Now used to start at $40 per month. The cheapest option for new customers will now be $50. Packages will now include the AT&T-owned HBO, but the service is dropping some popular lifestyle and entertainment networks not owned by AT&T, including HGTV, Discovery, Food Network and MTV.

Fiat Chrysler recalling vehicles

WASHINGTON — Fiat Chrysler is voluntarily recalling 862,520 vehicles in the U.S. because they don't meet the country's emission standards.

The Environmental Protection Agency said that the recall is the result of in-use emissions investigations it performed and in-use testing conducted by Fiat Chrysler as required by EPA regulations.

The vehicles involved in the recall include 2011-2016 Dodge Journey front wheel drive, 2011-2014 Chrysler 200 /Dodge Avenger front wheel drive, 2011-2012 Dodge Caliber front wheel drive continuously variable transmission and 2011-2016 Jeep Compass/Patriot front wheel drive continuously variable transmission.

Volkswagen to shed up to 7,000 jobs

BERLIN — German carmaker Volkswagen AG says it expects to shed between 5,000 and 7,000 jobs at its core brand by 2023 as a result of increasing automation of "routine tasks."

The Wolfsburg-based company said Wednesday that the Volkswagen brand can cut the posts by not recruiting replacements for employees who retire, and so it can carry out "restructuring along the demographic curve."

It said that, at the same time, it will create some 2,000 new jobs in technical development. The company noted in a statement that "with regard to all measures, Volkswagen has given its workforce a job security guarantee until at least 2025."

U.S. construction spending increases

WASHINGTON — Spending on U.S. construction projects in January posted the biggest gain in nine months, as strength in nonresidential construction and government projects offset continued weakness in home construction.

The Commerce Department said that construction spending rose 1.3 percent in January following two months of declines. It was the biggest gain since spending was up 1.7 percent in April. Spending on residential projects fell 0.3 percent in January, the sixth consecutive monthly decline for a sector that was hurt last year by rising mortgage rates and higher home building costs.

Claire's recalls makeup

NEW YORK — The retailer Claire's is recalling three makeup products after U.S. regulators warned they might contain asbestos.

Last week, the Food and Drug Administration said product samples tested positive for asbestos but that Claire's refused to recall any products that might be in homes. The retailer at the time disputed the test results but said it removed the products from stores.

Now, the company also is recalling the products, which were sold between 2016 and this month. A Claire's representative wasn't immediately available for comment.

The FDA said it's not aware of anyone being sickened by the makeup.

Cosmetics don't have to be reviewed by the FDA before they're sold.

Tech Companies Power US Stocks to Solid Weekly Gain - U.S. News & World Report

Posted: 15 Mar 2019 02:43 PM PDT

[unable to retrieve full-text content]Tech Companies Power US Stocks to Solid Weekly Gain  U.S. News & World Report

Shares were higher Friday in Asia after a day of lackluster trading on Wall Street.

Tech Companies Scramble to Remove New Zealand Shooting Video - U.S. News & World Report

Posted: 15 Mar 2019 01:53 PM PDT

[unable to retrieve full-text content]Tech Companies Scramble to Remove New Zealand Shooting Video  U.S. News & World Report

LONDON (AP) — Internet companies say they're working to remove video filmed by a gunman in the New Zealand mosque shooting that was widely available ...

Former TV host joins PA Bankers Association, and other business news: Trade Talk -

Posted: 15 Mar 2019 09:30 AM PDT

By Linda Hasco | | Posted March 15, 2019 at 12:30 PM

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