AP National Business Archives | News Channel 3-12

Judge dismisses lawsuit against Musk, Tesla and Twitter fan

May 20, 2022 1:52 pm The Associated Press

SAN FRANCISCO (AP) — A federal judge has dismissed a securities fraud and defamation lawsuit filed by a Tesla investor against CEO Elon Musk, the company and a Musk supporter. In an order filed Thursday, U.S. District Judge James Donato in California said the case filed by Aaron Greenspan fell short of making plausible claims.… Continue Reading

How major US stock indexes fared Friday

May 20, 2022 1:49 pm The Associated Press

The Associated Press The stock market clawed back from a midday drop Friday after coming to the edge of its first bear market since the beginning of the pandemic. The S&P 500 ended 18.7% below the record high it set in early January. A 20% decline would have been considered the beginning of a bear… Continue Reading

Ruling in securities case could mean limits on regulators

May 20, 2022 1:14 pm The Associated Press

By KEVIN McGILL Associated Press NEW ORLEANS (AP) — A divided federal appeals court panel in New Orleans says a hedge fund manager fined by the Securities and Exchange Commission was unconstitutionally denied his right to a jury trial. The 2-1 ruling handed down by the 5th U.S. Circuit Court of Appeals says the case… Continue Reading

Closing prices for crude oil, gold and other commodities

May 20, 2022 12:10 pm The Associated Press

The Associated Press Closing prices for crude oil, gold and other commodities, and foreign exchange levels.… Continue Reading

Elon Musk visits Brazil’s Bolsonaro to discuss Amazon plans

May 20, 2022 10:40 am The Associated Press

By DIANE JEANTET Associated Press RIO DE JANEIRO (AP) — Tesla and SpaceX chief executive officer Elon Musk has met with Brazil’s President Jair Bolsonaro to discuss connectivity and other projects in the Amazon rainforest. The meeting, held in a luxurious resort in Sao Paulo state, was organized by Communications Minister Fábio Faria, who has… Continue Reading

Trump pays $110K fine, must submit paperwork to end contempt

May 20, 2022 10:05 am The Associated Press

By MICHAEL R. SISAK Associated Press NEW YORK (AP) — Former President Donald Trump has paid the $110,000 in fines he racked up after being held in contempt of court for being slow to respond to a civil subpoena issued by New York’s attorney general. The office of Attorney General Letitia James says Trump paid… Continue Reading

Dutch leader faces pressure over old-school text messages

May 20, 2022 9:08 am The Associated Press

By MOLLY QUELL Associated Press THE HAGUE, Netherlands (AP) — The long-serving Dutch prime minister is facing unusual political and public pressure after revelations that he has been deleting text messages about official matters for years. Critics accuse Prime Minister Mark Rutte of concealing state activity. But he says the messages just took up too… Continue Reading

The AP Interview: US trade rep. sees opportunity in recovery

May 20, 2022 8:26 am The Associated Press

By DAVID RISING Associated Press BANGKOK (AP) — The top U.S. trade negotiator says with world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations and forge new partnerships and… Continue Reading

Musk denies sexual misconduct allegation by flight attendant

May 20, 2022 8:06 am The Associated Press

NEW YORK (AP) — Tesla and SpaceX CEO Elon Musk has denied a claim of sexual misconduct by a SpaceX flight attendant who worked on his private jet in 2016. A report by Business Insider said SpaceX paid the woman $250,000 in severance in 2018 in exchange for her agreeing not to file a lawsuit… Continue Reading

Broadcast TV’s reduced role made clear in fall presentations

May 20, 2022 7:50 am The Associated Press

By DAVID BAUDER and LYNN ELBER Associated Press Writers There were constant reminders this past week, when major entertainment companies hawked their wares to advertisers in Manhattan presentations, of the diminished role of broadcast networks. In some ways, ABC, CBS, NBC and Fox were after-thoughts. They’ve lost a tremendous amount of viewership in the past… Continue Reading

Feds sue operator of dog breeding facility, seize beagles

May 20, 2022 7:36 am The Associated Press

By SARAH RANKIN Associated Press RICHMOND, Va. (AP) — Federal officials have accused a company that runs a Virginia facility breeding dogs for research of violating animal welfare law and recently seized at least 145 beagles found to be in acute distress. That’s according to a lawsuit the government filed Thursday against Envigo RMS. The… Continue Reading

Netflix pays $59 million to settle tax dispute in Italy

May 20, 2022 7:20 am The Associated Press

MILAN (AP) — Netflix has agreed to pay more than $59 million to settle a tax dispute in Italy. Milan prosecutors said Friday that the payment covers taxes, penalties and interest from October 2015 through 2019. The streaming service also established an Italian subsidiary this year, which will determine its Italian tax burden based on… Continue Reading

Energy secretary: We must find a solution for nuclear waste

May 20, 2022 6:38 am The Associated Press

By JENNIFER McDERMOTT Associated Press WATERFORD, Conn. (AP) — The U.S. energy secretary says it is critical to find a solution for storing the nation’s spent nuclear fuel. Secretary Jennifer Granholm made the comment during a visit Friday to a nuclear power plant in Connecticut. Granholm and Democratic U.S. Rep. Joe Courtney toured the Millstone… Continue Reading

Japan welcomes new US Indo-Pacific economic initiative

May 20, 2022 6:06 am The Associated Press

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Japan is welcoming a new U.S. economic initiative for the Indo-Pacific that President Joe Biden is expected to roll out during a visit to Tokyo next week because it demonstrates American commitment to a regional economic order that is not just about market access. Biden is proposing… Continue Reading

G7 agree pact to better prepare for future pandemics

May 20, 2022 5:56 am The Associated Press

BERLIN (AP) — The Group of Seven wealthy democracies has announced plans to strengthen epidemiological early-warning systems to detect infectious diseases with pandemic potential. Germany’s health minister said Friday that an existing World Health Organization office in Berlin would be used to gather and analyze data more quickly. Health Minister Karl Lauterbach said the G-7… Continue Reading

Russia to cut Finland’s natural gas in latest energy clash

May 20, 2022 5:54 am The Associated Press

By JAN M. OLSEN Associated Press COPENHAGEN, Denmark (AP) — Finland’s state-owned energy company says Russia will cut off natural gas to Finland after the Nordic country that applied for NATO membership this week refused President Vladimir Putin’s demand to pay in rubles. It’s the latest escalation over European energy amid the war in Ukraine… Continue Reading

Germany’s Schroeder to quit Rosneft board as backlash mounts

May 20, 2022 5:35 am The Associated Press

BERLIN (AP) — Russian state energy company Rosneft says former German Chancellor Gerhard Schroeder plans to leave its board of directors as a backlash over his ties with Russia and its energy sector mounts. Schroeder is the chairman of Rosneft’s board. The company said Friday that Schroeder announced “the impossibility of extending his powers on… Continue Reading

In Your Debt: How debt-related stress affects body and mind

May 20, 2022 4:00 am The Associated Press

By SARA RATHNER of NerdWallet Being in debt can affect every corner of your life, like your relationships and career decisions. It can cause stress, leading to physical symptoms including insomnia and stomach aches. Debt can also bring up negative emotions like guilt, anger, shame and a sense of hopelessness. But you don’t have to… Continue Reading

N Ireland party leader pans Pelosi’s warning on Brexit terms

May 20, 2022 3:27 am The Associated Press

By DANICA KIRKA Associated Press LONDON (AP) — U.S. House Speaker Nancy Pelosi is facing criticism from the leader of Northern Ireland’s biggest unionist party after saying Congress won’t approve a trade deal with the U.K. if Britain scraps the agreement governing post-Brexit trade on the Irish island. The trans-Atlantic sparring comes after British Prime… Continue Reading

German parliament OKs 3 months of cheaper public transport

May 20, 2022 3:19 am The Associated Press

BERLIN (AP) — Germany’s parliament has gave final clearance to a plan that will allow people to use local transport across the country for just 9 euros ($9.50) per month this summer, a plan that has drawn praise but also plenty of criticism. The government also plans a three-month cut in fuel taxes. Parliament’s upper… Continue Reading