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GE selling century-old lighting unit to Savant Systems

The Associated Press  |  Posted May 27th - 6:47am

GE is selling its lighting unit to smart home company Savant Systems for an undisclosed amount.

General Electric's light bulb business, with roots dating to the late 19th century, is sold

The Associated Press  |  Posted May 27th - 6:29am

General Electric's light bulb business, with roots dating to the late 19th century, is sold.

EU chief says proposed new recovery fund is an “ambitious answer” to Europe’s coronavirus challenge

The Associated Press  |  Posted May 27th - 5:51am

EU chief says proposed new recovery fund is an “ambitious answer” to Europe’s coronavirus challenge.

Japan OKs funds for $1.1T stimulus to fight pandemic woes

Mari Yamaguchi, Associated Press  |  Posted May 27th - 5:26am

Japan’s Cabinet approved a proposed 32 trillion yen ($296 billion) supplementary budget on Wednesday to help fund $1.1 trillion in measures to cushion the blow to the economy from the coronavirus pandemic.

UK lawmakers set to quiz Johnson amid pressure to fire aide

Danica Kirka, Associated Press  |  Posted May 27th - 4:38am

Senior British lawmakers are set to question Prime Minister Boris Johnson on Wednesday amid growing pressure to fire his closest adviser for allegedly flouting COVID-19 lockdown rules.

EU commissioner Paolo Gentiloni says bloc to propose 750 billion-euro ($825 billion) coronavirus recovery fund

The Associated Press  |  Posted May 27th - 4:36am

EU commissioner Paolo Gentiloni says bloc to propose 750 billion-euro ($825 billion) coronavirus recovery fund.

Cyprus pledges to cover costs for virus-hit tourists

Menelaos Hadjicostis, Associated Press  |  Posted May 27th - 4:04am

Cyprus is pledging to cover all costs for anyone testing positive for the coronavirus while on vacation on the eastern Mediterranean island nation, according to a letter obtained by The Associated Press on Wednesday.

Nissan-Renault alliance to share more parts, technology

Yuri Kageyama, Associated Press  |  Posted May 27th - 2:22am

The auto alliance of Nissan and Renault said Wednesday it will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the coronavirus pandemic.

The Latest: Spain begins 10 days of mourning virus victims

The Associated Press  |  Posted May 27th - 1:41am

Flags are flying at half-staff on more than 14,000 public buildings in Spain as the European nation holds its first of 10 days of national mourning for the victims of the coronavirus.

Update on the latest in business:

The Associated Press  |  Posted May 27th - 1:33am

Asian stock markets were mixed today as U.S.-Chinese tension over Hong Kong competed with optimism about recovery from the coronavirus pandemic.

EU proposes 750 billion-euro coronavirus recovery fund

Lorne Cook, Associated Press  |  Posted May 27th - 1:20am

The European Union proposed Wednesday a 750 billion-euro ($825 billion) recovery fund to help countries weather a painful recession triggered by the coronavirus and bridge divisions over the conditions that should be attached for access to the money.

Spike in South Korea virus cases shows perils of reopening

Kim Tong-hyung, Jill Lawless and Elaine Kurtenbach, Associated Press  |  Posted May 27th - 12:04am

As Mediterranean beaches and Las Vegas casinos laid out plans to welcome tourists again, South Korea announced a spike in new infections Wednesday and considered reimposing social distancing restrictions, revealing the setbacks ahead for others on the road to reopening.

Rubio warns of foreign actors amplifying virus conspiracies

Mary Clare Jalonick and Lisa Mascaro, Associated Press  |  Posted May 26th - 10:18pm

Sen. Marco Rubio, the new Republican chairman of the Senate Intelligence Committee, is warning that foreign actors will seek to amplify conspiracy theories about the coronavirus and find new ways to interfere in the 2020 presidential election.

Congress shifts attention to overhauling small-business aid

Andrew Taylor and Lisa Mascaro, Associated Press  |  Posted May 26th - 10:16pm

Deadlocked over the next big coronavirus relief bill, Congress is shifting its attention to a more modest overhaul of small-business aid in hopes of helping employers reopen shops and survive the pandemic.

Spread of coronavirus fuels corruption in Latin America

Joshua Goodman, Associated Press  |  Posted May 26th - 10:08pm

Even in a pandemic, there's no slowdown for swindlers in Latin America.

Board: Puerto Rico to see 65% surplus drop amid debt crisis

DÁnica Coto, Associated Press  |  Posted May 26th - 10:06pm

A federal control board that oversees Puerto Rico’s finances prepared to vote Wednesday on a revised fiscal plan as it warned the island’s surplus could plunge by 65% and that the government is unable to pay current debt obligations.

Global pandemic: Through the eyes of the world's children

Martha Irvine, Associated Press  |  Posted May 26th - 10:04pm

These are children of the global pandemic.

Huawei CFO Meng to find out if her fraud case will proceed

Jim Morris, Associated Press  |  Posted May 26th - 10:01pm

A top executive of Chinese tech giant Huawei is scheduled to learn Wednesday if a U.S extradition case against her can proceed.

White House letter doesn't explain why Trump fired watchdogs

Eric Tucker and Matthew Daly, Associated Press  |  Posted May 26th - 8:36pm

The White House said that President Donald Trump followed the law when he fired multiple inspectors general in the last two months, but the administration offered no new details about why they were let go.