Boeing took nearly $3 billion hit in Q4 related to strike, layoffs and troubled government programs

Boeing Co. said it incurred nearly $3 billion worth of charges in the fourth quarter of 2024 due to a lengthy labor stoppage, job cuts and problems with a number of government programs. As a result, the Chicago-based aerospace giant said Thursday that it will report a loss of $5.46 per share next week when it issues its full financial results. Wall Street had been expecting a fourth-quarter loss of $1.80 per share.

Stock market today: S&P 500 climbs to a record

NEW YORK (AP) — U.S. stocks rose to a record as Wall Street regained some of the momentum that catapulted it to 57 all-time highs last year. The S&P 500 rose 0.5% Thursday amid relatively quiet trading and surpassed the record it set early last month. The Dow Jones Industrial Average climbed 0.9%, and the Nasdaq composite edged up 0.2%. Movements were mostly quiet in stock markets abroad, even after China’s latest attempt to juice stock prices in the world’s second-largest economy. Treasury yields were mixed in the bond market, helping to keep stock trading relatively calm.

Trump says he will ‘demand’ that interest rates come down, but it won’t be that simple

WASHINGTON (AP) — President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep. Economic growth is solid, driven by healthy consumer spending. And budget deficits are huge and could get even larger. And if Trump follows through on his promises to impose widespread tariffs on imports and deport millions of immigrants, economists expect inflation could worsen — making it less likely the Federal Reserve will cut its key interest rate much this year. All of these trends will likely keep borrowing costs higher, including for homes and cars.

Davos 2025: Trump leaves an impression with his video address to the World Economic Forum

DAVOS, Switzerland (AP) — U.S. President Donald Trump drew pockets of laughter and a few moans with his blunt comments to an international audience while appearing by video link at the World Economic Forum meeting in Davos, Switzerland. Trump’s address and answers to a handful of questions were the highlight of the fourth day of the annual gathering of political and business leaders. His return to the White House this week also shaped other sessions on Thursday, from a panel on tariffs to a fiery speech by Javier Milei, the brash president of Argentina. Trump is no stranger to the Davos meeting. He came twice during his first term.

Trudeau says Americans will pay more whenever Trump decides to impose tariffs on Canada

TORONTO (AP) — Outgoing Canadian Prime Minister Justin Trudeau says prices for Americans will go up if President Donald Trump follows through with his vow to apply sweeping tariffs on Canadian products. Trump told reporters in the Oval Office that he still plans to tariff Canada and Mexico at 25% rates starting as soon as Feb. 1. Trudeau says if Trump does impose tariffs “on Feb. 1st or Feb. 15th as a Valentines Day present, or on April 1st” Canada “will have a strong robust response” and says “prices for American consumers on just about everything will go up.”

Davos 2025: Some notable quotes from the World Economic Forum meeting

DAVOS, Switzerland (AP) — Leading business and political figures attending the World Economic Forum meeting in Davos, Switzerland, have discussed and debated topics such as technology, tariffs, climate change, Ukraine, Gaza and the global economy this week.

UnitedHealth promotes leader of retirement business to replace slain CEO Thompson

UnitedHealth Group will promote one of its top insurance executives to replace Brian Thompson, the slain CEO of its UnitedHealthcare arm. The company said Thursday that Tim Noel will become the next UnitedHealthcare leader. Noel most recently led UnitedHealthcare’s Medicare and retirement business. UnitedHealthcare is the nation’s largest insurer, covering more than 49 million people. It also is the biggest provider of Medicare Advantage plans, which are privately run versions of the government’s Medicare program mostly for people age 65 and over. The 50-year-old Thompson was fatally shot Dec. 4 in New York as he walked to UnitedHealth’s investor meeting.

Supreme Court allows small business registration rule to take effect, aimed at money laundering

WASHINGTON (AP) — The Supreme Court has revived a requirement that owners of millions of small businesses register with an arm of the Treasury Department under an anti-money laundering law. The justices on Thursday granted an emergency plea made by the Justice Department in the waning days of the Biden administration to allow enforcement of the Corporate Transparency Act, enacted in 2021 to crack down on the illicit use of anonymous shell companies. Owners of an estimated 32.6 million small businesses must register personal information with Treasury’s Financial Crimes Enforcement Network, or FinCEN. The information includes photo IDs and home addresses. It’s unclear whether the Trump administration will enforce the registration requirement, which Republican-led states and business groups have opposed.

Trump signs executive order on developing artificial intelligence ‘free from ideological bias’

President Donald Trump signed an executive order on artificial intelligence Thursday that will revoke past government policies his order says “act as barriers to American AI innovation.” The order says that to maintain global leadership in AI technology, the U.S. “must develop AI systems that are free from ideological bias or engineered social agendas.” The new order doesn’t name which existing policies are hindering AI development but sets out to review all of the actions that stemmed from former President Joe Biden’s sweeping 2023 executive order on AI safeguards. Trump’s order also calls for the development of an AI action plan within 180 days.

Purdue Pharma and owners to pay $7.4 billion in settlement of lawsuits over the toll of OxyContin

Members of the Sackler family who own OxyContin maker Purdue Pharma, and the company itself, agreed to pay up to $7.4 billion to settle lawsuits over the toll of the powerful prescription painkiller. The deal announced Thursday represents an increase over a previous settlement deal. The earlier one was rejected last year by the U.S. Supreme Court. The court ruled the earlier version improper because it protected members of the wealthy family from civil lawsuits over OxyContin — even though the family members themselves were not in bankruptcy. Besides this deal, there have been about $50 billion in opioid settlements announced in recent years.

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