Breaking News

Business

Stocks sink again as job gains send bond yields higher

NEW YORK (AP) — U.S. stock and bond prices fell again Friday after the Labor Department said the economy continues to add jobs at a strong pace, and investors worried about a three-day surge in yields. The Department of Labor said employers added significantly more jobs in July and August than it previously thought, which made up for a slightly disappointing gain in September. That was another sign economic growth is likely to continue. While that’s usually good news for stocks, the market stumbled this week as investors sold government bonds at a rapid pace. That pushed yields ...

Telsa faces reckoning with CEO Elon Musks job in jeopardy

SAN FRANCISCO (AP) — The very attributes that have fueled a mania around Elon Musk — his vision, brash personality and willingness to take risks — could prove to be his downfall. The Tesla CEO who made his fortune and his renegade-genius reputation by bursting through the barriers of conventional thinking faces a humiliating comedown as government regulators try to oust him from the company in a lawsuit accusing him of duping the electric car maker's stockholders. But extracting Musk from the company he has become synonymous with could devastate Tesla. Musk’s fans maintain ...

Stocks close out best quarter in five years on a quiet note

NEW YORK (AP) — U.S. stocks ended back where they started Friday as the stock market wrapped up its best quarter in almost five years. Electric car maker Tesla plunged after federal regulators moved to oust CEO Elon Musk following his tweet last month saying that he was close to a deal to take Tesla private. Health care companies did better than any part of the market during the third quarter and they continued to rise Friday, while technology companies rose as chipmakers also traded higher. Facebook said it discovered a security breach in which 50 million accounts were accessed by ...

Facebook says 50M user accounts affected by security breach

NEW YORK (AP) — Facebook reported a major security breach in which 50 million user accounts were accessed by unknown attackers. The attackers gained the ability to “seize control” of those user accounts, Facebook said, by stealing digital keys the company users to keep users logged in. Facebook has logged out the 50 million breached users — plus another 40 million who were vulnerable to the attack. Users don’t need to change their Facebook passwords, it said. Facebook said it doesn’t know who was behind the attacks or where they’re based. In a call with reporters on ...

Economy surviving rising oil prices

DALLAS (AP) — America’s rediscovered prowess in oil production is shaking up old notions about the impact of higher crude prices on the U.S. economy. It has long been conventional wisdom that rising oil prices hurt the economy by forcing consumers to spend more on gasoline and heating their homes, leaving less for other things. Presumably that kind of run-up would slow the U.S. economy. Instead, the economy grew at its fastest rate in nearly four years during the April-through-June quarter. President Donald Trump appears plainly worried about rising oil prices just a few weeks ...

Dow hits another all-time high on mixed day for stocks

Wall Street capped a milestone-setting week Friday with a mixed finish for the major U.S. stock indexes and the second all-time high in two days for the Dow Jones Industrial Average. An afternoon sell-off erased modest gains for the S&P 500 that had the benchmark index on track to eke out its own record high for much of the day. Losses for technology companies and retailers, two of the market’s hottest sectors this year, offset gains in energy and industrial stocks. “When you have a big up week like we’ve had, we’re at all-time highs, for people to take a little bit of risk ...