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Germany: Merkel's Bavarian allies critical on euro budget

Germany Politics-1

BERLIN (AP) — Chancellor Angela Merkel’s Bavarian allies warned the German leader Wednesday against offering financial concessions to other European countries to resolve a conflict over migration that has shaken her government. At the same time, Merkel’s hopes of reaching a deal with other European...


Business

Amazon, Buffett, JPMorgan pick Gawande to lead health firm

Amazon Berkshire JPMorgan Health Care

Amazon, JPMorgan Chase and Berkshire Hathaway have picked well-known author and Harvard professor Dr. Atul Gawande to transform the health care they give their employees. The three corporate titans said Wednesday that Gawande will lead an independent company focused on a mission they announced...


National Business

Disney ups Twenty-First Century Fox to more than $70.3B

Battle For Fox

NEW YORK (AP) — The mouse is chasing the fox. Disney is upping the ante for Fox, making a $70.3 billion counterbid for Fox’s entertainment businesses following Comcast’s $65 billion offer for the company. The battle for Twenty-First Century Fox reflects a new imperative among entertainment and...


Business

Electric promise: Volvo Cars opens first US factory

RIDGEVILLE, S.C. (AP) — Volvo Cars, the first major automaker to abandon cars powered solely by internal combustion engines, is officially opening its first plant in the United States. The Swedish carmaker aims to make 130,000 hybrid or all-electric vehicles a year at the South Carolina factory,...


Auto

Automakers improve quality to record level in annual survey

New Car Quality

DETROIT (AP) — A survey of new-vehicle buyers finds that car and truck quality hit a record high this year as automakers started to clear up bugs with infotainment systems. The annual survey by J.D. Power finds that buyers reported a record-low 93 problems per 100 vehicles during the first three...


Business

Tech companies lead US stocks higher as trade fears ease

Hong Kong Financial Markets

NEW YORK (AP) — U.S. stocks are mostly higher Wednesday morning as global markets let go of some of their fears about the growing trade dispute between the U.S. and China. Technology companies and banks are making some of the largest gains. Twenty-First Century Fox is jumping after it agreed to a...


Business

Fed chair signals gradual rate hikes in tame inflation era

Federal Reserve

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the Fed will likely keep raising short-term interest rates at a gradual pace, partly because there are few signs, so far, that the ultra-low U.S. unemployment rate is pushing up inflation. In a speech in Portugal, Powell said Wednesday...


Business

AMC Theatres unveils $20-a-month rival to MoviePass

NEW YORK (AP) — AMC Theatres, the world’s largest movie theater chain, has unveiled a $20-a-month subscription service to rival the flagging MoviePass. The theater chain on Wednesday announced a new service to its loyalty program, AMC Stubs, allowing subscribers to see up to three movies a week for...


Business

AP Top Business News at 10:38 a.m. EDT

Amazon, Buffett, JPMorgan pick Gawande to lead health firm US home sales fell 0.4 percent in May amid inventory crunch Disney ups Twenty-First Century Fox to more than $70.3B Fed chair signals gradual rate hikes in tame inflation era Tech companies lead US stocks higher as trade fears ease EU says...


Business

US home sales fell 0.4 percent in May amid inventory crunch

Home Sales

WASHINGTON (AP) — U.S. existing home sales slipped 0.4 percent in May, as the prolonged shortage of properties on the market is deterring home-buying. The National Association of Realtors said Wednesday that homes sold at a seasonally adjusted annual pace of 5.43 million in May, the second straight...


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