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Gig economy arrives in China (officially); ride-sharing a go

Joe McDonald, Associated Press  |  Posted  Jul 28th - 7:00am

China's Cabinet issued its first rules for ride-hailing and told local officials Thursday to promote the booming industry, confirming the legal status of Uber Technologies Inc. and local competitors following run-ins with regulators.

Oracle buying NetSuite in deal valued at about $9.3B

The Associated Press  |  Posted  Jul 28th - 7:00am

Oracle is buying cloud company NetSuite in a deal valued at about $9.3 billion.

Ford's 2Q profit falls on trouble in US, China

Dee-Ann Durbin, Associated Press  |  Posted  Jul 28th - 6:40am

Ford Motor Co.'s net income fell 9 percent to $2.0 billion in the second quarter as the company struggled with flattening U.S. sales and a tougher market in China.

Russia's customs chief resigns over corruption allegations

The Associated Press  |  Posted  Jul 28th - 6:40am

Russian Prime Minister Dmitry Medvedev accepted Thursday the resignation of the head of the customs agency, several days after investigators searched his home and founds hundreds of thousand dollars stashed in shoe boxes.

France's EDF to decide on divisive UK nuclear power plant

The Associated Press  |  Posted  Jul 28th - 6:00am

French energy company EDF is due to decide whether to go ahead with a major nuclear power plant project in southwest England that some consider too costly.

Initial Brexit shock is hurting UK _ but sparing eurozone

Pan Pylas, Associated Press  |  Posted  Jul 28th - 5:31am

For years, the British government bragged about the country's economic performance, contrasting it with the neighboring eurozone which was struggling with a series of financial crises and stagnation.

UK top court says Scottish child-safety plan violates rights

The Associated Press  |  Posted  Jul 28th - 5:30am

Britain's Supreme Court has ruled against a plan by the Scottish government to appoint a non-family member adult to look out for every child.

Body of elderly woman recovered from Charleston pond

The Associated Press  |  Posted  Jul 28th - 5:30am

Charleston police say the body of an elderly woman reported missing from an assisted living facility has been recovered from a nearby pond.

Summer jobs help bring Spain's jobless rate down to 20 pct

Ciaran Giles, Associated Press  |  Posted  Jul 28th - 5:20am

Spain's unemployment rate dropped to 20 percent in the second quarter from 20.9 percent in the previous three-month period, official figures showed Thursday, offering some positive news for acting Prime Minister Mariano Rajoy as he tries to stay in office following a second inconclusive election last month.

Business school at Wayne State starts diversity institute

The Associated Press  |  Posted  Jul 28th - 5:00am

The Mike Ilitch School of Business at Wayne State University is starting an institute to integrate a focus on organizational diversity and inclusive leadership.

Strike for shorter hours disrupts Portugal's health services

The Associated Press  |  Posted  Jul 28th - 4:10am

Portuguese public health workers are staging a 48-hour strike to pressure the government into extending a new 35-hour week to more staff.

LG Electronics' profit up on TV, appliance but mobile in red

Youkyung Lee, Associated Press  |  Posted  Jul 28th - 3:51am

LG Electronics Inc. said Thursday its second-quarter net income jumped 19 percent thanks to strong sales of high-end TVs and home appliances that outweighed another quarterly loss in its handset business.

France's Total profit falls 30 percent due to oil price drop

The Associated Press  |  Posted  Jul 28th - 3:30am

French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices.

SoftBank profit up 19 pct as Japan sales offset Sprint loss

Yuri Kageyama, Associated Press  |  Posted  Jul 28th - 3:10am

SoftBank Group Corp., the Japanese technology company that owns U.S. wireless carrier Sprint Corp., reported Thursday a fiscal first quarter profit of 254.2 billion yen ($2.4 billion), up 19 percent from the same period last year.

Lloyds cuts 3,000 jobs as Brexit fears take shape

Danica Kirka, Associated Press  |  Posted  Jul 28th - 2:50am

Britain's Lloyds Banking Group said Thursday it plans to eliminate 3,000 jobs and close 200 branches — the first big cuts announced since Britain voted to leave the European Union.

VW sees second quarter profit halved after emissions scandal

The Associated Press  |  Posted  Jul 28th - 2:40am

Volkswagen says second-quarter profits fell by more than half compared with the same period last year, before the company was hit by the emissions cheating scandal.

Shell sees Q2 earnings fall 72 percent amid oil drop

Danica Kirka, Associated Press  |  Posted  Jul 28th - 2:40am

Royal Dutch Shell said Thursday that second-quarter earnings fell 72 percent as low oil prices weigh on the profitability of the Anglo-Dutch energy giant.

Correction: Nigeria-Oil Attacks story

The Associated Press  |  Posted  Jul 28th - 1:50am

In a story published July 27 about the arrest of a publisher in Nigeria, The Associated Press reported erroneously that the detainee was publisher of The Source. Jones Abiri is publisher of the Weekly Source newspaper, not The Source weekly news magazine.

Democratic donors, allies offer reward for Trump tax returns

Julie Bykowicz, Associated Press  |  Posted  Jul 28th - 1:41am

The wealthy Democratic donors, many of them executives who run complex businesses, know firsthand how revealing tax returns can be. Perhaps that's why they can't stop talking about Republican nominee Donald Trump's refusal to release his.