Business
Looking for recent business news? Here you'll find all of the breaking and daily business news articles.
After lengthy discussion, Royal City food truck ordinance approved
ROYAL CITY — After more than a year of discussion, Royal City has a revised ordinance governing food trucks. “T…
How major US stock indexes fared Tuesday
Stock indexes closed mostly higher on Wall Street Tuesday, nudging the S&P 500 to another record high.
Nordstrom's 2Q sales down 53% hurt by pandemic fallout
NEW YORK (AP) — Nordstrom Inc. on Tuesday reported a larger-than-expected loss and a 53% drop in sales for its fiscal second quarter, during which the pandemic forced the upscale department store chain to temporari…
July sales of new homes surge 13.9%, far more than thought
SILVER SPRING, Md. (AP) — Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns.
Australia blocks Kirin's $430M sale of business to Chinese
CANBERRA, Australia (AP) — Australia's government announced on Tuesday it proposed to block Kirin Holdings Co.'s 45.6 billion yen ($430 million) sale of its Australian beverage unit to a Chinese company in a develo…
KFC suspends ‘Its Finger Lickin’ Good’ slogan amid pandemic
LOUISVILLE, Ky. (AP) — Don’t lick your fingers!
Rio Tinto CEO loses $3.5M over destroyed Indigenous sites
CANBERRA, Australia (AP) — Rio Tinto chief executive Jean-Sebastien Jacques will lose around $3.5 million in bonuses due to the destruction of Australian Indigenous sacred sites to access iron ore, the mining compa…
Thai court issues new arrest warrant for Red Bull scion
BANGKOK, Thailand (AP) — A Thai court issued a new arrest warrant on Tuesday for an heir to the Red Bull energy drink fortune, a month after news of the dropping of a long-standing charge against him caused widespr…
German FM warns of 'abyss,' calls for Greek-Turkish talks
ANKARA, Turkey (AP) — German Foreign Minister Heiko Maas appealed to NATO allies Greece and Turkey on Tuesday to enter a dialogue and de-escalate military tensions in the eastern Mediterranean, warning of an “abyss…
American Airlines plans 19,000 furloughs, layoffs in October
DALLAS (AP) — American Airlines said Tuesday it will cut more than 40,000 jobs, including 19,000 through furloughs and layoffs, in October as it struggles with a sharp downturn in travel because of the pandemic.
China's FM visits Italy, in 1st foreign trip since pandemic
ROME (AP) — Italian Foreign Minister Luigi Di Maio said he emphasized during a meeting with his Chinese counterpart on Tuesday that Italy would be monitoring closely the implications of new Chinese security measure…
US new homes sales rise a huge 13.9% in July
WASHINGTON (AP) — US new homes sales rise a huge 13.9% in July.
Credit Suisse to shut 37 bank branches in Switzerland
BERLIN (AP) — Swiss bank Credit Suisse said Tuesday that it plans to close 37 branches in its home country as part of an effort to streamline its business, and said that some job cuts are inevitable.
Environmental groups sue to block Alaska's Arctic drilling
ANCHORAGE, Alaska (AP) — Environmental groups filed lawsuits aimed at halting efforts by the Trump administration to open up wide swaths of Alaska’s Arctic to oil drilling.
Business Highlights
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Alibaba's Ant Group files for IPO in Hong Kong, Shanghai
HONG KONG (AP) — Ant Group, the financial technology arm of Chinese e-commerce giant Alibaba Group, on Tuesday filed for a dual listing in Hong Kong and Shanghai, in what may be the largest share offering since the…