AP National Business

By JOSH BOAK Associated Press President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession. He’s sending that message in the leadup to the release of a key report on the economy’s overall health. The Commerce Department on Thursday will release new gross domestic product

By MATT OTT AP Business Writer WASHINGTON (AP) — U.S. consumer confidence slid again in July as concerns about higher prices for food and gas continue to weigh on Americans. The Conference Board said Tuesday that its consumer confidence index fell to 95.7 in July from 98.4 in June, largely due to consumers’ anxiety over

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers are still spending, businesses keep posting profits and the economy keeps adding hundreds

LONDON (AP) — Unilever says it raised prices by more than 11% between April and June as inflation surged. The consumer goods giant said Tuesday that underlying sales growth of 8.1% in the first half of the year was driven by rising prices to offset the higher costs it paid to create everything from Ben

By KIM COOK Associated Press The thermostat has officially hit swelter. Whether you’re trying to play in the backyard or just chill outdoors, there’s a bunch of new ideas and gear designed to help everyone stay cool. First, architects say there are simple ways to make an outdoor space more heat-wave friendly. Make sure you

BEIJING (AP) — Indonesian President Joko Widodo has formally invited his Chinese counterpart Xi Jinping to the Group of 20 summit in Bali this fall although it’s unclear whether he would attend in person. The invitation came during a meeting in Beijing where the two discussed issues ranging from trade to maritime cooperation. Xi has

By JULHAS ALAM Associated Press DHAKA, Bangladesh (AP) — Business leaders and officials from eight developing nations meeting in Bangladesh say more cooperation is needed among them to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions. Representatives from Egypt, Iran, Malaysia, Nigeria, Pakistan, Turkey and Bangladesh under the banner of

DETROIT (AP) — U.S. safety regulators have opened three investigations into safety issues with about 1.65 million vehicles made by Stellantis. The largest probe covers 1.34 million Jeep Cherokee small SUVs from the 2014 through 2020 model years. The National Highway Traffic Safety Administration says it has 80 complaints that the electronic parking brakes can

By DEE-ANN DURBIN AP Business Writer McDonald’s revenue fell short of expectations in the second quarter as coronavirus restrictions shuttered stores in China and higher prices took a toll on U.S. demand. The Chicago burger giant said its revenue fell 3% to $5.72 billion in the April-June period. That was short of Wall Street’s forecast

By DEE-ANN DURBIN AP Business Writer Coca-Cola posted higher-than-expected sales in the second quarter due to price increases and higher demand at theme parks and other venues. The Atlanta-based company said revenue grew 12% in the April-June period to $11.3 billion. That was well ahead of Wall Street forecasts. Coke said higher prices aren’t yet

BERLIN (AP) — Lufthansa says it will have to cancel almost all flights at its main Frankfurt and Munich hubs Wednesday because of a strike by its German ground staff. The labor strife is the latest travel turmoil to hit Europe. The airline said Tuesday that the strike will force the cancellation of 678 flights

By TOM KRISHER AP Auto Writer DETROIT (AP) — General Motors’ second-quarter net income fell 40% from a year ago as computer chip and parts shortages hobbled factory output and caused the company’s U.S. sales to fall more than 15%. The Detroit automaker said it made $1.67 billion from April through June, in part because

By JIM VERTUNO Associated Press AUSTIN, Texas (AP) — The detective who led the investigation into the 2012 Sandy Hook Elementary School attack testified Tuesday that there are three types of people who deny that it happened and harass the victims’ families: the mentally ill, those who believed bad or incomplete information, and those who

BRUSSELS (AP) — European Union governments have agreed to reduce consumption of natural gas this winter to protect against further supply cuts by Russia as it pursues its invasion of Ukraine. EU energy ministers on Tuesday approved a draft law intended to lower demand for gas by 15% from August through March, although the measure

By NICK PERRY Associated Press WELLINGTON, New Zealand (AP) — Micronesia’s first outbreak of COVID-19 has grown in one week to more than 1,000 cases and is causing alarm in the Pacific island nation. Last week, Micronesia likely became the final nation in the world with a population of more than 100,000 to experience an

By ZEN SOO Associated Press HONG KONG (AP) — Alibaba, China’s biggest e-commerce company, plans to apply for a primary listing in Hong Kong. The move would make Alibaba a dual-primary listed company on the New York Stock Exchange and the Hong Kong Stock Exchange. CEO Daniel Zhang said the company was pursuing another primary

LAS VEGAS (AP) — Shares of Allegiant Air’s parent company are falling after the company cut its prediction for second-quarter profit. Allegiant Travel Co. said after the market closed Monday that it expects to report earnings of 62 cents per share. That’s far below the $1.36 per share that analysts were expecting. Allegiant is hitting

By JAMES MacPHERSON Associated Press BISMARCK, N.D. (AP) — Gov. Doug Burgum says a crypto mining company is planning to redevelop a northeastern North Dakota anti-ballistic missile site abandoned in the 1970s into data center that may be used for the mining of bitcoin and other digital currencies. Bitzero announced last month that it planned

The Associated Press Benchmark U.S. crude oil for September delivery rose $2.20 to $98.62 a barrel Friday. Brent crude for September delivery rose 52 cents to $107.14 a barrel. Wholesale gasoline for August delivery fell 2 cents to $3.49 a gallon. August heating oil fell 6 cents to $3.62 a gallon. September natural gas rose

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Walmart is lowering its profit outlook for its fiscal second quarter and for the full year. The nation’s largest retail cites surging inflation on basics like food that is making shoppers cut back on discretionary items, particularly clothing, that carry higher profit margins. That consumer

The Associated Press Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market. The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July. A rebound in technology stocks,

Stocks that traded heavily or had substantial price changes Monday: World Wrestling Entertainment Inc., up $5.59 to $71.81. World Wrestling Entertainment jumped 9.5% after CEO Vince McMahon retired Friday amid an investigation into alleged misconduct. Weber Inc., down 95 cents to $6.56. The outdoor grill maker announced the departure of CEO Chris Scherzinger, pulled its

By KAY DERVISHI of The Chronicle of Philanthropy Chronicle of Philanthropy Hollywood film producer Dan Lin — known for movies such as Disney’s live action “Aladdin” and “The Two Popes” — is launching a nonprofit with more than $1 million from the Ford and MacArthur foundations as well as several other philanthropies. His goal is