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Business at a glance for March 6

States sue over new global tariffs WASHINGTON — Some two dozen states are challenging President Donald Trump’s new global tariffs in court. On Thursday, the states filed a lawsuit over import taxes he imposed after a stinging loss at the Supreme Court. Democratic attorneys general leading the suit argue that Trump is overstepping his power with planned 15% tar an emergency powers law. Ohio is not among the states challenging the tarriffs. US jobless filings unchanged at 213K WASHINGTON — The number of Americans applying for unemployment benefits last week was ...

Judge rules companies are entitled to refunds for Trump tariffs overturned by the Supreme Court

WASHINGTON (AP) — In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the U.S. Court of International Trade wrote that “all importers of record’’ were “entitled to benefit’’ from the Supreme Court ruling that struck down sweeping double-digit import taxes President Donald Trump imposed last year under the 1977 International Emergency Economic Powers Act (IEEPA). Eaton also wrote that he alone “will hear cases pertaining to ...

Google settles with Epic Games, offers to lower its app store commissions

SAN FRANCISCO (AP) — Google will lower the lucrative fees imposed on its Android app store and offer a way for rival options to gain its stamp of approval, ending a bruising legal battle that led to one of several rulings condemning its tactics as an illegal monopoly. The proposed changes filed Wednesday with a federal court in San Francisco mark the latest twist in a case that began in August 2020 when video game maker Epic Games filed an antitrust case seeking to make it easier for alternative payment options to compete against Google’s Play Store system, which charges 15% to 30% ...

Gasoline, diesel prices spike as anxious drivers fill up tanks

NEW YORK (AP) — The average price for a gallon of gasoline jumped 11 cents overnight in the U.S., and drivers in Europe waited in line to fill their tanks with fuel, as war engulfed the Middle East and shipments of oil and gas were stranded in the Persian Gulf. Depending on the duration of the war, the pain of higher prices could increase in the coming weeks, and may be felt more heavily in areas reliant on imports. “Right now, the worst of it is centered on Europe, because Europe is a net importer,” said Susan Bell, senior vice president of commodity markets at Rystad Energy. ...

Dow drops 400 after trimming an early plunge of 1,200 as oil prices climb

NEW YORK (AP) — A sell-off for stocks wrapped around the world and hit Wall Street Tuesday, while oil prices climbed even higher on worries about the widening war with Iran. But the big moves that rocked markets in the morning eased substantially as the day progressed. By the end of trading, the S&P 500 had sunk 0.9%. That would be a solid loss on a typical day, but the index had been down as much as 2.5% in the morning because of worries that the war may do more sustained damage to the economy than feared. The Dow Jones Industrial Average dropped 403 points, or 0.8%, after ...

Federal court rejects Trump administration attempt to slow tariff refund process

WASHINGTON (AP) — A federal court on Monday rejected the Trump administration’s attempt to slow the process of refunding billions of dollars’ worth of tariffs the Supreme Court struck down as illegal last month. The U.S. Court of Appeals for the Federal Circuit started the next phase in the refund process by sending it to a lower court to sort out. In a court filing Friday, Trump’s Justice Department had urged the Federal Circuit to proceed cautiously and hold off for 90 days. But the judges refused. The Supreme Court ruled Feb. 20 that Trump’s sweeping tariffs on most ...