AP National Business

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Macy’s, Dollar Tree rise; Nutanix, Medtronic fall.

By KRISHAN FRANCIS Associated Press COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says that he will quickly prepare an economic reform program and seek approval from the International Monetary Fund. Prime Minister Ranil Wickremesinghe says urgent action is needed because global inflation and the economic impact of Russia’s invasion of Ukraine could hurt

By WAYNE PARRY Associated Press ATLANTIC CITY, N.J. (AP) — This summer is a crucial one for Atlantic City as it tries to recover lost business during the third year of the coronavirus pandemic, and casinos and non-gambling resorts are putting millions into renovations and new attractions to compete for visitors. On Thursday, Bally’s opened

BAGHDAD (AP) — Iraqi lawmakers have passed a bill criminalizing any normalization of ties and any relations, including business ties, with Israel. The law was approved on Thursday, with 275 lawmakers voting in favor of it in the 329-seat assembly. Violating the law would be punishable with the death sentence or life imprisonment. An influential

By NICHOLAS PAPHITIS Associated Press ATHENS, Greece (AP) — A Greek official says the crude oil cargo of an Iranian-flagged tanker that was stopped in Greek waters last month has been seized and is being transferred to another vessel following a request from the U.S. The official said following a “judicial intervention by U.S. authorities

By ROB GILLIES and FRANK JORDANS Associated Press BERLIN (AP) — Government officials say Western allies are considering whether to allow Russian oligarchs buy their way out of Western sanctions and use the money to rebuild Ukraine. Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland proposed the idea at a G-7 finance ministers’ meeting

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage buyer Freddie Mac reported that the 30-year rate declined to 5.1%

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation

By MICHAEL R. SISAK Associated Press NEW YORK (AP) — Former President Donald Trump must answer questions under oath in the New York attorney general’s civil investigation into his business practices, a state appeals court ruled Thursday, rejecting his argument that he be excused from testifying because his answers could be used in a parallel

By HARUKA NUGA Associated Press TOKYO (AP) — Sri Lankan President Gotabaya Rajapaksa has asked for urgent international help as his country suffers from a severe financial crisis. For months, Sri Lankans have been enduring shortages of necessities because of the country’s lack of foreign currency to pay for imports. The government has halted repayments

TOKYO (AP) — Thai Prime Minister Prayuth Chan-ocha says a new U.S.-backed economic pact is further proof of how important and relevant Asia is today. U.S. President Joe Biden and Japanese Prime Minister Fumio Kishida announced earlier this week that 13 countries have joined the Indo-Pacific Economic Framework. It’s a new trade pact that will

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Shoppers’ return to occasion dressing helped to power Macy’s fiscal first-quarter results. The department store chain raised its annual earnings outlook even as surging inflation is crimping Americans’ budgets. The results announced Thursday was among the few bright spots in a pile of reports from

MADRID (AP) — Police in Spain say an explosion at a biodiesel plant has left two people dead and forced 250 children to be evacuated from the area. Video of the explosion on Thursday showed flames engulfing the plant in the northern region of La Rioja, sending large plumes of black smoke into the sky.

BEIRUT (AP) — Dozens of doctors, nurses and medical personnel have rallied outside the Central Bank in the Lebanese capital of Beirut after declaring a two-day general strike. They are protesting rapidly deteriorating economic conditions and Central Bank policies that have allowed banks to impose random capital controls and other restrictions on depositors. Lebanon’s medical

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Japan will open its borders to foreign tourists in June for the first time since imposing tight pandemic travel restrictions about two years ago, but only for package tours for now. Prime Minister Fumio Kishida says Japan will allow the entry of people on tours with fixed

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the U.S. gross

By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — The fastest inflation in 40 years squeezed retailers during the first quarter, alarming investors worried about the broader economy’s outlook. While profits for all companies in the benchmark S&P 500 index grew by about 9% last quarter, retailers’ profits contracted more than 30% from

By MATT OTT AP Business Writer WASHINGTON (AP) — Fewer Americans applied for jobless aid last week as the number of Americans collecting unemployment benefits remains near five-decade lows. Applications for unemployment benefits fell by 8,000 to 210,000 for the week ending May 21, the Labor Department reported Thursday. First-time applications are generally representative of

By STAN CHOE AP Business Writer NEW YORK (AP) — Within the eight- and even nine-figure sums trumpeted for CEOs each year, just a small portion is actual cash. Last year, only a little more than a quarter of compensation for the typical CEO came from cash salary or bonus.  Instead, most of a CEO’s

By MAE ANDERSON AP Business Writer NEW YORK (AP) — Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared. Median pay for the women occupying the corner office rose 26% to nearly $16 million, according to the annual survey done by

The Associated Press For its annual analysis of CEO pay, The Associated Press used data provided by Equilar, an executive data firm. Equilar examined regulatory filings detailing the pay packages of 340 executives. Equilar looked at companies in the S&P 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30,

The Associated Press Expedia’s Peter Kern and Warner Bros. Discovery’s David Zaslav are among the top paid CEOs in the S&P 500 index. Advanced Micro Devices’ Lisa Su was the highest-paid female CEO. Median compensation for CEOs in the index of big U.S. companies climbed to $14.5 million last year, up 17.1%, according to an

By STAN CHOE AP Business Writer NEW YORK (AP) — Pay for CEOs who run the biggest U.S. companies soared 17.1% last year, up to a median of $14.5 million. That’s according to the AP’s annual pay survey conducted with Equilar. Such raises tower over the 4.4% gain in wages and benefits netted by private-sector