AP National Business

By MICHAEL LIEDTKE AP Technology Writer BERKELEY, Calif. (AP) — Apple’s profit slipped during the past quarter, but the world’s largest technology company is holding up better than many of its peers as the economy teeters on the edge of a recession. While grappling with manufacturing headaches and inflation pressures that have vexed a wide

By HALELUYA HADERO AP Business Writer NEW YORK (AP) — Amazon has reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. The Seattle-based e-commerce giant Amazon lost $2 billion, or 20 cents per share, in the three-month period ended June 30, driven by a $3.9 billion write-down

BEIRUT (AP) — A Syrian cargo ship carrying what Ukraine says is grain stolen by Russia has docked in Lebanon. The Ukrainian Embassy in Beirut said on Thursday that the Laodicea docked in the port of Tripoli, Lebanon’s second-largest city. The embassy alleges the ship is carrying barley from Ukraine, illegally taken by Russia. The

JERUSALEM (AP) — Israel’s foreign ministry says two Israeli tourists were killed and five were injured in a car accident in Egypt’s Sinai Peninsula. The Israeli emergency services says the injured were transported to hospitals in Israel and that none suffered life-threatening injuries. The Sinai Peninsula, particular its southern part, has for years been popular

By BARBARA ORTUTAY AP Technology Writer Meta Platforms says it will no longer pay U.S. news organizations to have their material appear in Facebook’s News Tab as it reallocates resources in the economic downturn. The company said Thursday that most of its users do not come to Facebook for news. It said it does not

By KEN RITTER Associated Press LAS VEGAS (AP) — The federal government is pledging $401 million in grants and loans to expand the reach and improve the speed of internet for rural residents, tribes and businesses in remote parts of 11 states from Alaska to Arkansas. U.S. Agriculture Secretary Tom Vilsack told reporters Wednesday, ahead

By LYNN ELBER AP Television Writer LOS ANGELES (AP) — Two documentaries detailing the punishing effects of Russia’s war on Ukraine will air on PBS’ “Frontline” investigative series. The specials are part of an extensive collaboration between the series and The Associated Press that includes gathering, verifying and cataloging potential war crimes and co-publishing stories

By JOSH FUNK AP Business Writer Members of the United Auto Workers union have rescinded an increase in strike pay that had been approved earlier in their annual convention. The Detroit Free Press reported that after some delegates raised concerns about the potential cost of the higher $500 a week strike pay it was dropped.

By DAVID KOENIG AP Airlines Writer DALLAS (AP) — Southwest Airlines’ second-quarter profit doubled to $760 million on record revenue, but the carrier warned that rising costs and lower productivity are likely to continue in the second half of the year. Southwest shares fell 7% in afternoon trading Thursday. Air travel has bounced back this

By JOE McDONALD AP Business Writer BEIJING (AP) — China’s leaders effectively acknowledged the struggling economy won’t hit its official 5.5% growth target this year and said Thursday they will try to prop up sagging consumer demand but will stick to strict anti-COVID-19 tactics that disrupted manufacturing and trade. The announcement after a Communist Party

By KEN SWEET AP Business Writer NEW YORK (AP) — For more than a decade, US Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau said Thursday, in a case that is deeply similar to the sales practices scandal uncovered

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated this week just as the Federal Reserve announced another big rate hike in its bid to get four-decade high inflation under control. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell back to 5.3% from 5.54% last week.

By TOM MURPHY and MICHELLE CHAPMAN AP Business Writers Sales of Pfizer’s COVID-19 vaccine and treatment in the second quarter propelled the pharmaceutical giant to the largest quarterly sales in its history. The coronavirus vaccine Comirnaty brought in $8.85 billion in sales, and the treatment Paxlovid added another $8.12 billion as company revenue totaled $27.74

By MATT OTT AP Business Writer WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first time in more than eight months. Applications for jobless aid for the week ending July 23 declined

By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus (AP) — The foreign minister of Cyprus says his government and Greece will consult with other European Union members on how to respond if Turkey tries again to drill for oil and gas in waters to which Cyprus claims exclusive rights. Turkey’s energy minister said earlier this week

By MARK PRATT Associated Press Employees at a Trader Joe’s supermarket in Massachusetts on Thursday became the latest workers at a major company to approve a labor union. The store in Hadley, about 80 miles (129 kilometers) west of Boston, is the first Trader Joe’s with an employees union, although workers at two other company

BERLIN (AP) — Germany’s annual inflation rate has declined slightly for the second consecutive month, but July’s pace of 7.5% is still within sight of the nearly half-century high it reached in May. Inflation in Europe’s biggest economy rose 7.9% in May from a year earlier, the highest level since the early 1970s, before slipping

MADRID (AP) — Spain’s Socialist-led coalition government wants large energy companies and banks to pay a windfall tax, which officials hope will yield around 7 billion euros (dollars) over two years. The government delivered its proposal to parliament Thursday, with a debate and vote scheduled for after the summer recess. Officials say the tax would

VEVEY, Switzerland (AP) — Global food giant Nestle has reported higher sales in the first half of the year, even as it increased prices by 6.5% as inflation soared around the world. The Swiss company that makes Purina pet food, KitKat candy bars and Gerber baby food said Thursday that total reported sales grew by