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MONEY NEWS FROM THE ASSOCIATED PRESS

Money

  • US stocks typically ride midterm elections to solid gains

    Regardless of how midterm elections turn out, Wall Street usually ends up a big winner. The S&P 500, the stock market’s benchmark index, has climbed in the 12 months after each of the midterm elections going back to 1946. That’s 18 elections, many of which ended up shuffling the balance of power in Congress. “It […]
  • CFPB investigates controversial writings of Trump appointee

    NEW YORK (AP) — The nation’s financial watchdog has opened a formal investigation into writings and comments by Eric Blankenstein, a Republican appointee overseeing the agency’s anti-discrimination efforts, which he alleged that most hate crimes were fake and argued that using racial epithets did not mean a person was racist. Mick Mulvaney, the acting director […]
  • Coca-Cola taps veteran executive as new president

    ATLANTA (AP) — Coca-Cola Co. has named longtime company executive Brian Smith as its new president and chief operating officer. Smith joined the company in 1997. He has led Coke’s operations in Brazil and Mexico and most recently was the head of its Europe, Middle East and Africa division. Smith will report to CEO James […]
  • Mnuchin says he will not attend Saudi investment conference

    WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Thursday he will not attend an investment conference in Saudi Arabia. Mnuchin made the announcement on his Twitter account , saying that the decision was made after a White House meeting with President Donald Trump and Secretary of State Mike Pompeo. Mnuchin said in his tweet, “I […]
  • Starbucks selling stores, closing office in Europe

    SEATTLE (AP) — Starbucks is restructuring its European operations after several years of slowing sales. The Seattle-based coffee chain is selling 83 company-owned stores in France, the Netherlands, Belgium and Luxembourg to its longtime partner, Alsea. Alsea will also provide services to 177 other Starbucks locations in those countries which are owned by franchisees. Mexico […]
  • US mortgage rates fall slightly; 30-year at 4.85 percent

    WASHINGTON (AP) — Long-term U.S. mortgage rates dipped slightly this week, taking a pause after weeks of steady increases stoked by rising interest rates. Home borrowing rates remain at their highest levels in more than seven years, with the key 30-year rate approaching 5 percent. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, […]
  • Asian stocks tumble after Wall Street skids, China slows

    BEIJING (AP) — Asian stock markets sank Friday after Wall Street declined on losses for tech and industrial stocks and Chinese economic growth slowed. KEEPING SCORE: Tokyo’s Nikkei 225 index fell 1.1 percent to 22,411.33 and Seoul’s Kospi shed 0.3 percent to 2,141.06. The Shanghai Composite Index was flat at 2,485.99 and Hong Kong’s Hang […]
  • 4 tax breaks for teachers

    The flood of education-related tax advice that seems to crest during back-to-school season often centers on students or their parents. But teachers can score a few tax breaks, too — if they do their homework. Three tax pros share their own lesson plans for cutting teachers’ tax bills. 1. Educator Expense Deduction WHAT IT IS: […]
  • MoviePass operations under investigation by New York AG

    NEW YORK (AP) — The company that runs the beleaguered MoviePass discount service for movie tickets is being investigated by the New York Attorney General on allegations that it misled investors. Parent company Helios and Matheson of New York said in a prepared statement that it is aware of the investigation, but that it believes, […]
  • Markets Right Now: Dow falls again as industrial stocks sink

    NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing broadly lower on Wall Street after erasing part of an earlier plunge. Industrial companies sustained some of the biggest losses Thursday after several of them reported dismal results. Aircraft maker Textron dropped 11.3 percent after reporting […]