Powered by The Associated Press
NEW YORK (AP) — Yahoo is taking a $350 million hit on its previously announced $4.8 billion sale to Verizon. Read more
ATHENS, Greece (AP) — Greece’s government is calling on Germany to drop what it described as “irrational” budget demands in Greece’s bailout program. Speaking a day after Greece and its European creditors agreed to resume talks on further reforms, government spokesman Dimitris Tzanakopoulos called Tuesday on Germany to ease demands for the country to post a 3.5 percent primary surplus – the budget balance minus debt interest costs -for a decade. He also called on Germany to “adopt a constructive stance” to reach a deal on some form of debt relief. Read more
LONDON (AP) — Economic growth in the 19-country eurozone accelerated in February to reach the strongest pace in nearly six years, a closely watched survey found Tuesday. In its monthly survey of economic activity across the region, financial information company IHS Markit also said job creation was the best for nine and a half years, as order books and business optimism continued to pick up. The firm’s purchasing managers’ composite output index – a broad gauge of economic activity – spiked to 56.0 points in February from 54.4 the previous month. Read more
WASHINGTON (AP) — Add a potential government shutdown to President Donald Trump’s growing roster of headaches. Beneath the capital’s radar looms a vexing problem – a catchall spending package that’s likely to top $1 trillion and could get embroiled in the politics of building Trump’s wall at the U.S.-Mexico border and a budget-busting Pentagon request. While a shutdown deadline has a few weeks to go, the huge measure looms as an unpleasant reality check for Trump and Republicans controlling Congress. Read more
BOSTON (AP) — Once seen as a luxury of the corporate world, private planes are becoming increasingly common at U.S. colleges and universities as schools try to attract athletes, raise money and reward coaches with jet-set vacations. Some schools spend millions of dollars a year flying their coaches and executives on scores of trips around the country, and some pass the cost on to students and taxpayers. The Associated Press requested documents from dozens of public universities and found that at least 20 own or share ownership of planes for school business, often employing a few full-time pilots to fly them. Many others charter private flights through outside companies. Read more
NEW YORK (AP) — Wal-Mart’s fourth-quarter earnings fell nearly 18 percent as the world’s largest retailer was hurt by its investments in e-commerce and stores. But Wal-Mart saw its U.S. business accelerate – both in customer counts and for a key sales metric – during the period that covers the critical holiday shopping season. It also enjoyed a surging global e-commerce business. The company also said Tuesday that it is raising its dividend. Read more
Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.