AP National Business

BRUSSELS (AP) — The European Union’s executive arm has proposed earmarking 500 million euros for joint defense procurement in the wake of the Russian invasion of Ukraine and the military aid EU nations have offered to Kyiv. The European Commission said in a statement that the first-ever such pooling of resources “will avoid competition among

By THALIA BEATY Associated Press SEATTLE (AP) — Dominique Davis was inside a Seattle-area church one day in March 2021 when a man with a handgun opened fire during a meeting of Community Passageways, a group he founded that works to curb gun violence. The gunman shot 19-year-old Omari Wallace several times before fleeing. Wallace,

By DAVID KOENIG and KELVIN CHAN Associated Press FARNBOROUGH, England (AP) — Airplanes are a minor contributor to global greenhouse-gas emissions, but their share is sure to grow as more people travel in coming years. That has the aviation industry facing the prospect of tighter environmental regulations and higher costs. At Monday’s opening of a

By DAVID KOENIG and KELVIN CHAN Associated Press FARNBOROUGH, England (AP) — Airplanes are a minor contributor to global greenhouse-gas emissions, but their share is sure to grow as more people travel in coming years — and that has the aviation industry facing the prospect of tighter environmental regulations and higher costs. The industry has

STOCKHOLM (AP) — Scandinavian Airlines pilots in Sweden, Norway and Denmark have called off a strike that ran for 15 days and caused major disruption, after reaching an agreement with management.   SAS CEO Anko van der Werff said the parties had agreed on an agreement covering the next five-and-a-half years that guarantees both cost

BEIJING (AP) — A gas explosion after a partial building collapse in the northern Chinese port city of Tianjin has left three people missing and 11 injured. The event remains under investigation, but it points to the deterioration of infrastructure following more than three decades of breakneck economic growth. That development has vastly boosted living

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Asian shares advanced Wednesday after Wall Street rallied to its best day in more than three weeks as companies reported strong profits for the past quarter. Tokyo’s Nikkei 225 jumped 2.5% to 27,631.50 while the Hang Seng in Hong Kong gained 2% to 21,068.85. In Seoul,

BEIJING (AP) — Authorities in southern China have apologized for breaking into the homes of people who had been taken to a quarantine hotel in the latest example of heavy-handed virus-prevention measures that have sparked a rare public backlash. State media said that 84 homes in an apartment complex in Guangzhou city’s Liwan district had

By ROD McGUIRK Associated Press CANBERRA, Australia (AP) — A five-year report says Australia’s environment continues to deteriorate due to climate change, resource extraction and other causes. The State of the Environment report found more species are being threatened in Australia as land is lost to wildfires, climate change and development. The report prompted government

By KRISHAN FRANCIS Associated Press COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister and acting president Ranil Wickremesinghe faces two rivals in a parliamentary vote on who will succeed the ousted leader who fled the country last week. Wickremesinghe is backed by members of the fragmented ruling coalition but his candidacy is opposed by

By ALAN FRAM Associated Press WASHINGTON (AP) — Democrats will push ahead on restraining pharmaceutical prices and extending health insurance subsidies for millions of Americans, Senate Majority Leader Chuck Schumer affirmed Tuesday, backing President Joe Biden’s call for his party to settle for a pared-down economic package and effectively concede to a pivotal senator. Aiming

By KRUTIKA PATHI and BHARATHA MALLAWARACHI Associated Press COLOMBO, Sri Lanka (AP) — A day after Sri Lanka’s president fled, Mohamed Ishad waited outside an immigration office near the capital, clutching a file of documents that he hopes will get his passport renewed so he can leave, too. With the nation in the throes of

By KEVIN FREKING Associated Press WASHINGTON (AP) — Key Republicans are warming up to passing a bill that provides roughly $52 billion in incentives for the semiconductor industry. Three weeks ago, the computer chips bill looked like it could be in trouble despite having significant bipartisan support. That’s when Senate Republican leader Mitch McConnell said

By AMANDA SEITZ Associated Press Washington (AP) — A new research report says the conservative TV channel Newsmax is presenting viewers with an “alternate universe” of how the deadly siege at the U.S. Capitol unfolded on Jan. 6, 2021. Newsmax has broadcast at least 40 false claims or conspiracy theories about the attack since June,

The Associated Press Major indexes closed lower on Wall Street Monday after an early gain evaporated in the afternoon. The choppy trading came at the start of another busy week for profit reports from U.S. companies. Gains for energy producers, big retailers and other companies that rely on consumer spending were outweighed by a pullback

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Goldman Sachs, ODP, Boeing rise; Seagen falls

The Associated Press Benchmark U.S. crude oil for August delivery rose $5.01 to $102.60 a barrel Monday. Brent crude for September delivery rose $5.11 to $106.27 a barrel. Wholesale gasoline for August delivery rose 5 cents to $3.25 a gallon. August heating oil fell 4 cents to $3.66 a gallon. August natural gas rose 46

RALEIGH, N.C. (AP) — A North Carolina-based insurance magnate whose convictions on corruption-related counts were overturned by a federal appeals court has been released from prison. The U.S. prison system says Greg E. Lindberg was let out of a minimum-security prison in Alabama late last week. It was the day after a judge agreed to

By TOM KRISHER AP Auto Writer NEW YORK (AP) — General Motors will keep its headquarters in its seven-building office tower complex in downtown Detroit, its CEO says. Mary Barra, in an interview with The Associated Press, said the automaker’s main office will remain in the Renaissance Center, the centerpiece of the city’s skyline just

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan says his country can still “freeze” Sweden and Finland’s membership in NATO unless the two countries take steps that meet Ankara’s security demands. Turkey lifted its objection to Sweden and Finland joining the alliance last month. But the Turkish government warned that it would block the

By KEN SWEET AP Business Writer NEW YORK (AP) — Investment banking giant Goldman Sachs saw its second-quarter profits fall nearly half from a year ago, as the markets turmoil and warnings of a possible recession caused the bank’s deal-making business to slow down considerably. The New York-based bank said Monday that it earned a

By VESELIN TOSHKOV Associated Press SOFIA, Bulgaria (AP) — Bulgarian President Rumen Radev has handed a mandate to the third-largest political party in parliament to form a government after two previous attempts have failed. The chances of the Socialist Party’s success are dim. But its floor leader said Monday his party would invite the three

By STAN CHOE AP Business Writer NEW YORK (AP) — Stock prices are down about 20% since famed investor Jeremy Grantham warned early this year that they were in a “super bubble.” But they can still drop more, says Grantham, who has correctly predicted several of the world’s biggest bubbles to burst, going back to

By BOUAZZA BEN BOUAZZA Associated Press TUNIS, Tunisia (AP) — The leader of Tunisia’s main opposition party is due to be questioned by the country’s anti-terrorism unit on suspicion of money laundering and terrorist financing through an association charity. Rached Ghannouchi was among a dozen top Ennahdha part officials whose bank accounts the country’s central

By MICHELLE CHAPMAN AP Business Writer General Electric is revealing the names of the three companies that will operate on their own after the historic split of the one-time conglomerate. GE said Monday that the healthcare business will be named GE Healthcare; the aviation business will be called GE Aerospace; and its energy businesses will

By MICHELLE CHAPMAN AP Business Writer Delta is ordering 100 737 Max 10 airplanes, the largest of the line produced by Boeing, potentially giving the manufacturer additional momentum after a troubled rollout of its most advanced aircraft. Delta has an option to purchase 30 more of the aircraft as the airline looks to keep up

WARSAW, Poland (AP) — Poland’s central bank chief has drawn criticism after he was caught on hidden camera discussing inflation and fiscal policy with an activist who approached him during a private walk. Some critics said Monday that Adam Glapinski might have broken the law when he told the woman there may be just one

By DAVID PORTER Associated Press NEW YORK (AP) — A funding agreement has been reached for the multibillion-dollar redevelopment of New York’s aging Penn Station rail hub. Gov. Kathy Hochul and Mayor Eric Adams announced the deal Monday morning. It calls for private developers to make payments in lieu of taxes on new commercial and

BERLIN (AP) — Germany says a turbine at the center of uncertainty about future gas deliveries through a major pipeline from Russia to Europe was only supposed to be installed in September, underlining its insistence there should be no technical obstacle to the gas flow. Meanwhile, Germany’s biggest importer of Russian gas said Monday that

By KEN SWEET AP Business Writer NEW YORK (AP) — Bank of America’s second quarter profits fell by 32% from a year ago, the latest bank to report a decline in profits after a strong 2021. The bank on Monday reported a profit of $6.2 billion, or 73 cents per share, compared to a profit