AP National Business

BERLIN (AP) — Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation. Finance Minister Christian Lindner said Wednesday that about 48 million people in Germany would profit from changes to the

COPENHAGEN, Denmark (AP) — Annual inflation in Denmark came at 8.7% last month — rising at the fastest pace since 1983 — while the figure in neighboring Norway reached 6.8%. Statistics Denmark said Wednesday that the price of goods has increased by an average of 13.2% in the past year, the highest annual increase since

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Toshiba has reported a 44% improvement in profit in the last quarter as the Japanese technology giant revamps its brand image and seeks to reassure investors about its management. Quarterly sales rose 2%. Toshiba has promised to boost annual sales by forging ahead with clean energy,

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — The semiconductor shortage is hitting another of the world’s automakers, despite demand for product. Honda’s fiscal first quarter profit has fallen 33% from last year. A global computer chip shortage, a pandemic-related lockdown in China and the rising costs of raw materials hurt the Japanese automaker.

HONG KONG (AP) — Hong Kong airline Cathay Pacific Airways says losses in the first half of the year narrowed as a relaxation in quarantine rules boosted passenger numbers. But it cautioned that quarantine restrictions on its crew were limiting the airline’s ability to increase flight capacity. The company reported losses of about $637 million

By ROD McGUIRK Associated Press CANBERRA, Australia (AP) — A Chinese envoy says Australia’s recent change of government is a chance to “reset” its troubled relationship with China, but the new administration must “handle the Taiwan question with caution.” Chinese Ambassador to Australia Xiao Qian said Wedesday he was “surprised” that Australia had signed a statement

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July. Hong Kong, Shanghai and Seoul saw gains of more than 1%. Tokyo was closed for a holiday. U.S. futures

By JOCELYN NOVECK AP National Writer NEW YORK (AP) — Serena Williams said it plainly: It isn’t really fair. A male athlete would never have to make the same choice. But after a trailblazing career that both transformed and transcended her sport, Williams, who turns 41 next month, has told the world she’ll soon step

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Japanese Prime Minister Fumio Kishida has reshuffled his Cabinet in a bid to distance his administration from the conservative Unification Church over its ties to the assassinated leader Shinzo Abe and senior ruling party members. The reshuffle was the second in just 10 months since Kishida took

By SIBI ARASU Associated Press BENGALURU, India (AP) — The Indian government took another step toward its climate goals by passing a conservation bill through parliament’s lower house, which makes it easier to put a price on carbon emissions and encourages the use of non-fossil fuel sources to generate power across the country. The bill

BEIJING (AP) — China’s 11 million university graduates are struggling in a bleak job market as repeated shutdowns under China’s “zero-COVID policy” force companies to retrench and drive many restaurants and other small employers out of business. When Liu Qian entered the job market, she said she felt as if her future had been smashed

By BARBARA ORTUTAY and MATT O’BRIEN AP Technology Reporters SAN FRANCISCO (AP) — A former Twitter employee has been convicted of spying for Saudi Arabia, conspiracy to commit wire fraud and money laundering. Ahmad Abouammo, a U.S. citizen and former media partnership manager for Twitter’s Middle East region, was charged in 2019 with acting as

WASHINGTON (AP) — Postmaster General Louis DeJoy says inflation is going to necessitate another rate increase in January. But he said Tuesday that despite inflation and staffing difficulties the Postal Service is well prepared for the November election. He noted that postal carriers already delivered about 40 million ballots to and from voters. He also

The Associated Press Stocks are closing lower on Wall Street as disappointing earnings reports weighed on technology and travel companies. The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. Chipmaker Micron Technology fell after warning investors that revenue could fall short of forecasts because of weakening demand. Norwegian Cruise Line plunged after

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Micron, Novavax fall; Qualys, Nielsen Holdings rise.

NEW YORK (AP) — The fast-food chain Chipotle Mexican Grill will pay $20 million to current and former workers at its New York City restaurants for violating city labor laws. The settlement between the city and Chipotle was announced Tuesday. It covers about 13,000 employees who worked at the chain’s New York City outlets between

The Associated Press Benchmark U.S. crude oil for September delivery fell 26 cents to $90.50 a barrel Tuesday. Brent crude for October delivery fell 34 cents to $96.31 a barrel. Wholesale gasoline for September delivery rose 7 cents to $2.96 a gallon. September heating oil rose 15 cents to $3.33 a gallon. September natural gas

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Consumer prices jumped 8.5% in July compared with a year earlier, the government said

By SUMMER BALLENTINE Associated Press COLUMBIA, Mo. (AP) — A campaign to legalize recreational marijuana in Missouri gathered enough signatures to make it on the November ballot, Republican Secretary of State Jay Ashcroft announced Tuesday. If voters approve the constitutional amendment on marijuana, those age 21 and older could buy and grow it for personal

By CHRIS MEGERIAN Associated Press WASHINGTON (AP) — Many pieces of President Joe Biden’s domestic agenda have been jettisoned over the last year, but his proposals on climate change remain largely intact. The legislation passed by the Senate over the weekend is expected to receive a vote in the House on Friday. The White House

Several countries in Europe dependent on Russian energy are suffering another blow with confirmation that oil shipments have stopped through a critical pipeline. Russia’s state pipeline operator, Transneft, said it had stopped shipments through the southern branch of the Druzhba oil pipeline, which flows through Ukraine to the Czech Republic, Slovakia and Hungary. Transneft cited

BEIJING (AP) — The top South Korean and Chinese diplomats have pledged to develop closer relations and maintain stable industrial supply chains at a time of deepening rivalry between Beijing and Washington. South Korea is struggling to strike a balance between Washington and the increasingly assertive foreign policy of Chinese President Xi Jinping’s government. Foreign

New research indicates that state laws that are broadly worded to prohibit drivers from holding a cell phone under any circumstance appear to be effective in reducing rear-end crashes. The research paper, published by the Insurance Institute for Highway Safety on Tuesday, looked at data from Oregon, Washington and California and compared it to Colorado

By TOM KRISHER AP Auto Writer DETROIT (AP) — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act now moving toward final approval in Congress. But the auto industry is warning that the vast majority of EV purchases won’t qualify for

ISTANBUL (AP) — Turkey’s president has inaugurated the country’s newest and largest undersea hydrocarbon drill ship that he said would head for a spot northwest of Cyprus in the eastern Mediterranean, which is not claimed by any other country. “Our exploration and drilling in the Mediterranean is within our own sovereign dominion,” President Recep Tayyip

DETROIT (AP) — Kia is recalling nearly 260,000 older midsize cars in the U.S. because plates in the ceiling can come loose if the side curtain air bags inflate in a crash. The recall covers certain 2012 and 2013 Optima sedans. The automaker says headliner pates on both sides of the cars may not be

By EDEN STIFFMAN of The Chronicle of Philanthropy Chronicle of Philanthropy FLINT, Mich. (AP) — As CEO of the Community Foundation of Greater Flint, Isaiah Oliver is well known throughout the city. Now as families recover from the water crisis and the pandemic, the foundation and Oliver are building on their reserve of trust and

MARK GILLISPIE Associated Press CLEVELAND (AP) — In a world increasingly troubled by the persistent harm that plastic — manufactured in petrochemical plants — has had on the environment, companies are investing billions of dollars to ramp up production of plastics made from natural, renewable materials that can be safely composted or can biodegrade under