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Moody's cuts China credit rating over rising debt

Joe McDonald, Associated Press  |  Posted   May 24th - 1:21pm

The Moody's ratings agency on Wednesday cut China's credit rating due to surging debt, prompting a protest by Beijing and highlighting challenges faced by Communist leaders as they overhaul a slowing economy.

Odebrecht offices raided in Argentina

The Associated Press  |  Posted   May 24th - 1:21pm

Argentine federal agents searched the offices of the Brazilian construction conglomerate Odebrecht in Buenos Aires Wednesday as part of an investigation into alleged bribes in the granting of construction contracts for a water treatment plant.

Wildfire forces evacuations at Washington state tourism spot

Poplmb, Associated Press  |  Posted   May 24th - 1:21pm

A wildfire that started at an old log-storage site has prompted evacuation orders for 168 homes and cabins at a popular Washington state hiking and skiing destination, officials said Wednesday.

Trump team eyes public asset sales to pay for infrastructure

The Associated Press  |  Posted   May 24th - 1:21pm

The Trump administration is eyeing plans to encourage the sale of public assets, such as airports and bridges, to help pay for a $1 trillion overhaul of the nation's aging infrastructure, an administration official said Wednesday.

UPDATED

UK investigates 'network' of alleged Manchester attackers

Jill Lawless, Maggie Michael and Gregory Katz, Associated Press  |  Posted   May 24th - 1:20pm

British security forces raided an apartment building Wednesday in central Manchester as they investigated a network of people allegedly behind the city's concert bombing. Hundreds of soldiers were sent to secure key sites across the country, including Buckingham Palace and Parliament.

Lowe's weak quarter stands in contrast to rival Home Depot

The Associated Press  |  Posted   May 24th - 1:07pm

Home-improvement retailer Lowe's posted a profit Wednesday that didn't impress Wall Street, results that came in stark contrast to those of its rival Home Depot.

Fed minutes: Officials back reducing bond holdings this year

Martin Crutsinger, Associated Press  |  Posted   May 24th - 1:07pm

Federal Reserve officials signaled in discussions early this month that they would likely start reducing the Fed's huge portfolio of bond holdings later this year, a step that could cause borrowing rates to rise.

Americans don't trust media, but feel better about favorites

David Bauder, Associated Press  |  Posted   May 24th - 1:06pm

Ask Americans what they think about the news media, and be prepared for some thumbs down. But a new poll out Wednesday suggests the attitudes are a little more complicated.

House OKs bill making nude photo sharing in military a crime

Richard Lardner, Associated Press  |  Posted   May 24th - 1:06pm

The House has unanimously approved legislation that makes it a crime for U.S. service members to distribute intimate photos or videos of people without first getting their consent.

Mnuchin wants gov't borrowing limit raised before August

The Associated Press  |  Posted   May 24th - 1:00pm

The Latest on President Donald Trump's budget (all times local):

Fox moves to dismiss lawsuit by ex-host Andrea Tantaros

The Associated Press  |  Posted   May 24th - 12:58pm

Fox News Channel asked a federal court on Wednesday to throw out a lawsuit by former host Andrea Tantaros, saying her claims that "sock puppet" Twitter accounts were set up to harass her were false.

AP FACT CHECK: Budget chief slams Obama growth forecast

Josh Boak, Associated Press  |  Posted   May 24th - 12:48pm

Trump budget director Mick Mulvaney, defending an administration that promises more economic growth than many think it can deliver, said Tuesday it's the Obama administration that went overboard in its forecasts for growth. His indictment glosses over significant differences in the economy now and then.

Secret Service budget asks for $25M to protect Trump Tower

Jack Gillum, Associated Press  |  Posted   May 24th - 12:48pm

The Trump administration is asking for more money to protect President Donald Trump's signature New York skyscraper, add hundreds of new Secret Service agents and strengthen security at the White House, according to new budget documents presented to Congress.

US stocks extend gains to a 5th day as tech companies rise

Marley Jay, Associated Press  |  Posted   May 24th - 12:40pm

U.S. stocks are up for the fifth consecutive day Wednesday as the market continues to wipe out the losses it suffered one week ago. Technology companies are rising, but energy companies are down with the price of oil. Banks and bond yields have weakened as the Federal Reserve gave more signs it will start reducing its huge portfolio of bonds later this year.

Judges divided in hearing on consumer agency power

Marcy Gordon, Associated Press  |  Posted   May 24th - 12:40pm

Federal appeals judges are divided as they hear arguments over whether the president should be able to more easily fire the head of the government's consumer finance watchdog agency.

Company to appeal decision in medical marijuana lawsuit

The Associated Press  |  Posted   May 24th - 12:40pm

A Rhode Island textile company plans to appeal a ruling that said it discriminated against a woman by denying her an internship because she uses medical marijuana to treat migraine headaches.

How food stamp cuts could ripple through the economy

Candice Choi, Associated Press  |  Posted   May 24th - 12:20pm

A proposal to curtail the nation's food stamp program would pinch families struggling to pay for groceries and ripple through other areas of the economy, including supermarkets and discounters.

United CEO to investors: We'll be more focused on customers

Don Babwin and David Koenig, Associated Press  |  Posted   May 24th - 12:09pm

The CEO of United Airlines assured shareholders Wednesday that the company is doing all it can to be more customer-friendly since video surfaced of a passenger being violently ejected from a plane last month.

Women CEOs earn big pay, but few of them have the top job

Joseph Pisani, Associated Press  |  Posted   May 24th - 12:09pm

Women CEOs earned big bucks last year, but there's still very few of them running the world's largest companies.

New York fines BNP Paribas $350 million in trading scheme

Ken Sweet, Associated Press  |  Posted   May 24th - 12:09pm

New York state regulators have fined French bank BNP Paribas $350 million, alleging bank employees for years manipulated global currency markets to benefit themselves at the expense of their customers.