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By ALANNA DURKIN RICHER and LARRY NEUMEISTER 

WASHINGTON (AP) — The Justice Department said Monday that it has tentatively settled its antitrust lawsuit against Ticketmaster and parent company Live Nation Entertainment, striking a deal to ultimately lower ticket prices for consumers and end an illegal monopoly over live events in America.

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But some states signaled they won’t join the deal and will continue an ongoing trial.

After the Justice Department announced the deal at the start of the trial day in Manhattan federal court, Judge Arun Subramanian called it “entirely unacceptable” that no one informed him of the tentative deal until late Sunday. A term sheet for the expected settlement was signed on Thursday, he said. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks trimmed much of an early loss amid growing concerns about whether the global economy can withstand spiking prices for oil, which briefly got to nearly $120 per barrel on Monday.

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Wall Street had initially followed global markets on a steep descent earlier in trading and remains twitchy and quick to reverse amid all the uncertainty caused by the war with Iran.

The S&P 500 fell 0.6% after dropping as much as 1.5% in the morning. The Dow Jones Industrial Average was down 492 points, or 1%, as of 1:50 p.m. Eastern time, and the Nasdaq composite fell 0.3% after sliding as much as 1.5% earlier. read more

By JOSH BOAK

WASHINGTON (AP) — President Donald Trump promised that 2026 would be a bumper year for economic growth, but instead it has kicked off with job losses, rising gasoline prices and more uncertainty about America’s future.

In his State of the Union address less than two weeks ago, the Republican president confidently told the country: “The roaring economy is roaring like never before.” The latest batch of data on jobs, pump prices and the stock market suggests that Trump’s roar has started to sound far more like a whimper.

There is a gap between the boom that Trump has predicted and the volatile results he has produced — one that could set the tone in this year’s midterm elections as he tries to defend his party’s majorities in the House and Senate. With Trump’s tariffs drama ongoing, the war in Iran has suddenly created inflationary concerns regarding oil and natural gas. To the White House, it is still early in the year and stronger growth is coming.

No signs of a jobs boom

“WOW! The Golden Age of America is upon us!!!” Trump posted on social media Feb. 11 after the monthly jobs report showed gains of 130,000 jobs in January. read more

By ANNE D’INNOCENZIO

NEW YORK (AP) — The parent company of Saks Fifth Avenue and Neiman Marcus is closing more department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring.

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Saks Global Inc. said Friday it will close 12 more Saks Fifth Avenue stores and three more Neiman Marcus stores. The shuttered Saks stores include sites in Chevy, Chase, Maryland, Chicago and San Antonio, Texas. The stores will remain open until the end of May, a company spokesperson said. read more

There are many ways that individuals can be subject to IRS tax penalties. The point of this column is to identify some of these penalties and show you how to minimize them.

In 2023, the IRS assessed approximately $7 billion in tax penalties. The average penalty was $500, which was significantly more the the average penalty in recent previous years.

Many retirees are assessed penalties because they fail to make estimated tax payments that are sufficient. For example, according to Forbes, estimated tax penalties increased by 24% from 2017 through 2022.

Most employees, during their working years, have taxes withheld from their paychecks. After they retire, many find it more difficult to estimate the minimum amount of required estimated tax payments when income varies significantly during retirement. As a result, when they fail to make sufficient estimated tax payments, they are faced with penalties.

One reason for the spike in penalties a few years ago is that the Federal Reserve raised interest rates beginning in 2022. As a result, many savers made higher interest income, and some failed to prepay enough taxes to cover the unexpected boon. Other retirees get into trouble by selling securities at a gain and failing to prepay the taxable gains. read more