Share this story...
Latest News

Business News

  • Michael Kors takes over shoemaker Jimmy Choo

    LONDON (AP) — American fashion brand Michael Kors has bought luxury shoemaker Jimmy Choo in a deal worth $1.35 billion (896 million pounds).

    Kors says that London-listed Jimmy Choo is “the ideal partner” that will be bolstered with further development of its online presence. Jimmy Choo CEO Pierre Dennis will stay in his job. Creative Director Sandra Choi will also stay to lead creative and design teams.

    The deal gives Jimmy Choo shareholders 2.3 pounds in cash for each share, a premium of 36.5 percent on the firm’s share price of 1.685 pounds on April 21. John Idol, CEO of Michael Kors, says the handbag maker believes “that Jimmy Choo is poised for meaningful growth in the future and we are committed […]
  • President Donald Trump, accompanied by Vice President Mike Pence, Health and Human Services Secretary Tom Price, and others, speaks about healthcare, Monday, July 24, 2017, in the Blue Room of the White House in Washington. (AP Photo/Alex Brandon)

    GOP sets Senate health care vote buoyed by McCain return

    WASHINGTON (AP) — Republican leaders are steering the Senate toward a crucial vote on their bill eviscerating much of President Barack Obama’s health care law, buoyed by the near theatrical return to the Capitol of the ailing Sen. John McCain.

    No stranger to heroic episodes, the Navy pilot who persevered through five years of captivity during the Vietnam War announced through his office that he would be back in Washington for the critical roll call on beginning debate on the legislation. The 80-year-old has been at home in Arizona since he revealed last week that he’s undergoing treatment for brain cancer, but a one-sentence statement said he “looks forward” to returning for work on health care and other legislation.

    Senate Majority Leader Mitch McConnell, R-Ky., scheduled the initial health care vote for Tuesday. It seemed unlikely Republicans would bring McCain cross country if they didn’t think his vote would make a difference, and his mere presence could make it harder for wavering Republicans to cast a vote against even considering the bill. Democrats uniformly […]
  • Toyota, Honda and Mazda to be sued in Australia over air bag

    SYDNEY (AP) — A Sydney lawyer announced on Tuesday a class action lawsuit against Toyota, Honda and Mazda seeking refunds for cars fitted with faulty air bags from Takata that have been linked to 18 deaths around the world.

    Lawyer Damian Scattini said the Federal Court action seeks refunds based on an Australian consumer law that entitles consumers to refunds if a product has a fault that makes it unsafe and the problem cannot be rectified within a reasonable time.

    “The only thing that most of the manufacturers have is more Takata air bags, so they pull one out and put another in and that’s not a satisfactory fix,” Scattini said. The Federal Court legal action would be in addition to any measures taken by regulators, Scattini said. The case represents more than a million […]
  • Officials walk from the crash site after a vintage single-engine British-built military jet crashed and burned in the desert just after takeoff from the Henderson Executive Airport in Henderson, Nev. Monday, July 24, 2017. The pilot escaped serious injury, authorities said. (Steve Marcus/Las Vegas Sun via AP)

    Pilot survives vintage military jet fire near Nevada airport

    HENDERSON, Nev. (AP) — A vintage single-engine British-built military jet crashed and burned in the desert just after takeoff from a suburban Las Vegas-area airport, but authorities said the pilot escaped serious injury.

    The pilot was the only person aboard the Strikemaster jet when it crashed just before noon Monday about a half-mile (0.8 kilometers) south of Henderson Executive Airport, according to police, fire, airport and Federal Aviation Administration officials.

    No one on the ground was injured, and the closest homes were about a half-mile (0.8 kilometers) away, Henderson fire spokeswoman Kathleen Richards said. Airport spokeswoman Christine Crews said police were interviewing the pilot after the crash, and FAA spokesman Ian Gregor said the pilot also will meet with agency investigators. His name was not […]
  • German business confidence reaches new record high

    BERLIN (AP) — A survey shows that business confidence in Germany has risen to another record high as managers’ view of both their outlook and their current situation brightens.

    The Ifo institute said Tuesday that its monthly confidence index was up to 116.0 points for July from 115.2 in June, the previous record.

    The Ifo’s index is calculated on the basis of firms’ views of both the current situation and the outlook for the next six months. Both elements rose in July.

    The Ifo surveys some 7,000 companies for its index. Germany’s economy, the largest in the 19-country eurozone, has been growing steadily thanks to exports and strengthening consumer demand amid low unemployment at home. Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
  • FILE -- In this July 13, 2017 file photo California Gov. Jerry Brown listens as members of the Senate Environmental Quality Committee discuss a pair of climate change bills he supports, in Sacramento, Calif. As his fourth and final term winds down Brown will spend the final 17 months in office working on California's housing crisis and fighting for ambitious projects to build a high-speed rail system and re-engineer California's water system. (AP Photo/Rich Pedroncelli, file)

    California governor to extend climate change bill 10 years

    SAN FRANCISCO (AP) — Gov. Jerry Brown is set to sign legislation Tuesday keeping alive California’s signature initiative to fight global warming, which puts a cap and a price on climate-changing emissions.

    The Democratic governor will be joined by his celebrity predecessor, Arnold Schwarzenegger, who signed the 2006 bill that led to the creation of the nation’s only cap and trade system to reduce greenhouse gases.

    The program has become closely watched around the world, promoted by Schwarzenegger and Brown alike a successful way to reduce emissions that hasn’t taken the steam out of California’s thriving economy. Brown’s signature will add 10 years to the program, which had been scheduled to expire in 2020. It follows a frenetic push by Brown […]
  • FILE - In this April 6, 2016, file photograph, vehicles are suspended above other installation stations as they are moved along the assembly line at the Nissan Canton Vehicle Assembly Plant in Canton, Miss. A bid by workers at Mississippi's Nissan Motor Co. plant for United Auto Workers representation could turn on a key voting bloc: the 1,500 Nissan employees who were initially hired through contract labor agencies. (AP Photo/Rogelio V. Solis, File)

    Former contract workers key in Mississippi Nissan union vote

    CANTON, Miss. (AP) — A bid by workers at Mississippi’s Nissan Motor Co. plant for United Auto Workers representation could turn on a key voting bloc — 1,500 workers who are Nissan employees today, but were initially hired through contract labor agencies.

    Those workers say they make less than longtime Nissan employees and have worse benefits, and UAW supporters say that’s a disparity they’d like to address through contract negotiations.

    “I think it’s very unfair because we’re doing the same job,” said Shanta Butler, a union supporter who started as a contract worker at Nissan in April 2014. “I think we should be gradually allowed to make our way up to what they’re making.” Nissan, for its part, refuses to discuss specific wage and benefit […]
  • Ohio State NCAA college football head coach Urban Meyer speaks at Big Ten Media Day in Chicago, Monday, July 24, 2017. (AP Photo/G-Jun Yam)

    Meyer has Ohio State running like Fortune 500 juggernaut

    CHICAGO (AP) — The tailored, slate-gray suit, the scarlet and gray power tie, the blacked-out chronograph on his wrist — if you didn’t know Urban Meyer was the football coach at Ohio State, your first guess would be a Fortune 500 CEO.

    That’s hardly a coincidence.

    After five seasons in Columbus, Meyer has the Buckeyes running as smoothly as any business enterprise in the land. He’s won a third national championship there (to go along with two from Florida), a conference title and two division titles, and Ohio State is favored to return to the top of the Big Ten heap and compete for another college football crown.

    All that despite getting smoked 31-0 by Clemson in the playoffs last season, then watching five players depart in the first round (and a dozen total) in the NFL draft. “It’s in the back of everyone’s mind, and whether I’ll use that during training camp or not is to be determined,” Meyer said about that […]
  • South Korean Finance Minister Kim Dong-yeon, center, speaks during a press conference at the government complex in Seoul, South Korea, Tuesday, July 25, 2017. South Korea's new administration is shifting gears to achieve a fair and labor-friendly economy after decades of growth led by big businesses left many behind in economic prosperity. (AP Photo/Ahn Young-joon)

    South Korea shifts gears, aims at more labor-friendly growth

    SEOUL, South Korea (AP) — South Korea’s new leadership has promised to help many left behind as the country grew prosperous, laying out a new five-year economic plan that promises to boost incomes and improve the country’s sagging social safety net.

    The labor-friendly economic blueprint released Tuesday by the finance ministry is aimed at addressing mounting concern over growing inequality. It calls for sharply increasing the minimum wage and unemployment benefits and imposing bigger fines for unfair business practices.

    It also includes measures aimed at improving labor conditions, such as reducing South Korea’s notoriously long working hours, which are the second-highest among the developed countries. President Moon Jae-in said it marks a “complete paradigm shift” in the South Korean economy, according to a presidential pool office report on a Cabinet meeting Tuesday. The plan […]
  • A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, July 25, 2017.  Asian share benchmarks were mixed Tuesday as investors awaited a slew of corporate earnings reports. A meeting of the Federal Reserve and caution over potential twists and turns in U.S. politics kept most indexes trading within a narrow range.(AP Photo/Ahn Young-joon)

    Global shares mostly higher ahead of earnings reports

    TOKYO (AP) — Share benchmarks rose in Europe early Tuesday, buoyed by reports showing an improved economic outlook, as investors awaited a slew of corporate earnings reports. A meeting of the Federal Reserve and caution over potential twists and turns in U.S. politics kept most indexes trading within a narrow range.

    KEEPING SCORE: Germany’s DAX climbed 0.4 percent to 12,252.08 and the CAC 40 of France added 0.7 percent to 5,161.01. The FTSE 100 of Britain jumped 0.9 percent to 7,440.91. Shares looked set to drift higher on Wall Street, with Dow futures unchanged and S&P futures up 0.03 percent.

    UPBEAT IN EUROPE: The International Monetary Fund’s latest economic projections revised growth forecasts upward for economies in the 19-country eurozone after a run of elections saw populist politicians defeated and risks to its outlook abated. Meanwhile, a survey showed business confidence in Germany has risen to a new record high as managers’ views of both […]
  • FILE- In this Monday, July 24, 2017, file photo, President Donald Trump arrives to speak at the 2017 National Scout Jamboree in Glen Jean, W.Va. Trump is scheduled to visit Ohio on Tuesday as the U.S. Senate could vote on beginning debate on a Republican health care bill. (AP Photo/Carolyn Kaster, File)

    Trump to rally in Ohio as residents worry about health care

    YOUNGSTOWN, Ohio (AP) — President Donald Trump is scheduled to visit Ohio on Tuesday as the U.S. Senate will vote on whether to open debate on legislation to repeal and replace former President Barack Obama’s health care law.

    Ohioans have mixed feelings about Republicans’ efforts.

    Some who rely on government assistance say they’re having trouble sleeping at night because they’re worried about their medical expenses. Others are hopeful the Republican plan will make things more affordable for them.

    Trump, who is scheduled to hold a rally in Youngstown Tuesday night, has been urging Republicans to support an effort to repeal and replace Obama’s statute. Republican Ohio Sen. Rob Portman could be a key swing vote on the GOP legislation and is facing immense pressure from both sides. On Saturday, Vice President Mike Pence […]
  • FILE- In this Feb. 4, 2015, file photo, a police officer looks at an SUV that was crushed at the front of a Metro-North Railroad train in Valhalla, N.Y. Federal investigators have concluded that a fiery crash between a commuter train and an SUV that killed six people in the suburbs in 2015 was extra deadly because of an unusual rail design, a U.S. official told The Associated Press on Monday, July 24, 2017. (AP Photo/Mark Lennihan, File)

    US safety board to detail findings of deadly NY train crash

    NEW YORK (AP) — The National Transportation Safety Board is scheduled to meet and detail a probe into a 2015 crash between a commuter train and an SUV that killed six people in the New York suburbs, a day after a U.S. official told The Associated Press that investigators determined the crash was extra deadly because of an unusual rail design.

    The NTSB is scheduled to meet Tuesday in Washington, where a final report of the February 2015 crash is expected to be presented.

    The Metro-North Railroad train crashed into an SUV on the tracks at a crossing in Valhalla, about 20 miles (32 kilometers) north of New York City. The impact sparked an explosion, and flames blasted into the passenger area, burning out the first car of the train. The driver of the SUV and five people aboard […]
  • FILE - In this July 11, 2017, file photo, Sen. John McCain, R-Ariz., arrives on Capitol Hill in Washington. The office of Sen. John McCain says the ailing Arizona Republican will return to the Senate on July 25, the day of the health care vote. (AP Photo/Jacquelyn Martin, File)

    McCain’s return, heavy with drama for “Obamacare” repeal

    WASHINGTON (AP) — At the twilight of a storied career and battling a brain tumor, Sen. John McCain stands poised to deliver for his party and his president on the issue that’s defined the GOP for the past seven years.

    It’s a situation heavy with drama and symbolism. The 80-year-old Arizona senator will return to Washington just days after a cancer diagnosis, to cast what could be the deciding vote Tuesday to open debate on legislation to repeal and replace “Obamacare.”

    McCain himself campaigned heavily on the “Obamacare” repeal issue last year as he won re-election to a sixth and almost certainly final Senate term. And there could be sweet revenge in defying cancer to undo the signature legislation of the man who beat him for the presidency in 2008, Barack Obama. The Arizona senator would […]
  • Oil company to spend $20M in safety upgrades in wake of fire

    RICHMOND, Calif. (AP) — Chevron Corp. and state regulators have reached a settlement related to a 2012 fire at its Richmond refinery that will require the company to spend about $20 million on safety improvements, officials announced Monday.

    The agreement requires Chevron to replace all carbon steel piping that transports corrosive liquids with chrome-alloy piping, which is better at resisting corrosion. Chevron will also have to implement procedures to monitor equipment that alerts operators when replacements are needed, Cal/OSHA, the state’s workplace safety agency, said in a statement.

    “This means safer operations at the refinery, which will help protect refinery workers and those who work and live nearby,” Cal/OSHA Chief Juliann Sum said. In 2013, the state fined Chevron nearly $1 million after a fire at the company’s Richmond refinery sent a cloud of gas and black smoke over residential areas. Investigators found […]
  • South Korean Finance Minister Kim Dong-yeon, center, speaks during a press conference at the government complex in Seoul, South Korea, Tuesday, July 25, 2017. South Korea's new administration is shifting gears to achieve a fair and labor-friendly economy after decades of growth led by big businesses left many behind in economic prosperity. (AP Photo/Ahn Young-joon)

    South Korea shifts gears, aims at more labor-friendly growth

    SEOUL, South Korea (AP) — South Korea’s new administration is shifting gears to achieve a fair and labor-friendly economy after decades of export-driven growth led by big businesses left many behind in economic prosperity.

    In a five-year economic plan released Tuesday, the finance ministry said South Korea will boost household incomes and fortify its social safety net to address growing concerns about inequality. Under the plan, South Korea plans to sharply increase the minimum wages and unemployment benefits and impose bigger fines for unfair business practices, among other measures.

    The plan also calls for improving transparency and governance at South Korea’s family-controlled big businesses, or chaebol, and fixing unfair dealings between big companies and their small contractors. There are also a set of measures aimed at improving labor conditions, such as reducing long working hours. The announcement marks “a complete paradigm shift” in the […]