WASHINGTON - U.S. Commerce Secretary Wilbur Ross on Monday extended the deadline for U.S.-Mexico sugar trade negotiations by 24 hours, and sources on either side of the spat said U.S. industry added new demands after the governments struck a provisional deal.
HOBBS, New Mexico - Amid the frenetic activity of American shale oilfields recovering from a two-year recession sit a handful of oil towns that seemed impervious as many producers went into bankruptcy and the economy around them sank. Occidental Petroleum Corp and a few other oil producers with wells near this town on New Mexico's border with Texas steadily pumped low-cost oil through the downturn, using a technique that has been heralded worldwide as a way to reduce carbon emissions and boost oil output.
BOSTON - A growing number of U.S. states, counties and cities are filing lawsuits accusing drug companies of deceptively marketing opioid painkillers to downplay their addictiveness, but some lawyers say the industry's highly regulated nature could pose a hurdle to their success. Ohio on Wednesday became the latest, and largest, state or local government to bring an opioid lawsuit, suing Purdue Pharma LP, Johnson & Johnson's Janssen Pharmaceuticals Inc unit, Endo International Plc, Teva Pharmaceutical Industries Ltd's and Allergan Plc.
The U.S. economy expanded at a modest to moderate pace from early April through late May but showed little sign of breaking out of a recent trend of sluggish inflation, a survey conducted by the Federal Reserve showed on Wednesday. "On balance, pricing pressures were little changed from the prior report," the central bank said in its Beige Book report of the economy derived from anecdotal evidence provided by business contacts nationwide.
WASHINGTON - President Donald Trump has decided to withdraw from the Paris climate accord, Axios news outlet reported on Wednesday, citing two unidentified sources with direct knowledge of the decision. Trump, who has previously called global warming a hoax, refused to endorse the landmark climate change accord at a summit of the G7 group of wealthy nations on Saturday, saying he needed more time to decide. He then tweeted that he would make an announcement this week. Fox News also cited an unidentified source confirming the pullout.
European Union states and their joint parliament in Brussels on Tuesday agreed new rules to give smaller companies improved access to financing, a move the bloc said would help create jobs and spur economic growth. After the rules are formally adopted, European venture capital funds - which support higher risk start-ups - will find it easier to invest in a wider range of companies, including small and medium enterprises.
Uber Technologies Inc [UBER.UL] said on Tuesday it fired the former head of its self-driving unit, Anthony Levandowski, as he failed to comply with the ride-hailing company's internal probe into a dispute with Alphabet Inc's Waymo unit. Levandowski is at the heart of a lawsuit filed against Uber by Alphabet's Waymo self-driving division, in which he is accused of stealing trade secrets.
Pennsylvania's Three Mile Island power plant will close in 2019, forty years after it was the site of the worst nuclear accident in U.S. history, as low natural gas prices make the costs of atomic energy uncompetitive, its owner said on Tuesday, May 30. The plant's name has been synonymous with public fears over the risks associated with nuclear power since the plant suffered a partial meltdown in 1979, sparking sweeping new rules for handling emergencies at nuclear sites.
Hackers used malware to steal customer payment data from most of Chipotle Mexican Grill Inc's restaurants over a span of three weeks, the company said on Friday, adding to woes at the chain whose sales had just started recovering from a string of food safety lapses in 2015. Chipotle said it did not know how many payment cards or customers were affected by the breach that struck most of its roughly 2,250 restaurants for varying amounts of time between March 24 and April 18, spokesman Chris Arnold said via email.
PANAMA CITY - Former Panamanian dictator Manuel Noriega was for years a useful tool of the United States, until President George H.W. Bush lost patience with his brutal, drug-running rule and sent nearly 28,000 troops to invade the country and oust him.