AP National Business

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier. A report

By KEN SWEET AP Business Writer NEW YORK (AP) — JPMorgan Chase and the rapper formerly known as Kanye West are ending their business relationship, but the breakup is not a result of the controversy over the hip-hop star’s recent antisemitic comments. The decision became public Wednesday after conservative activist Candice Owens, who has been

The Associated Press Benchmark U.S. crude oil for November delivery rose $1.84 to $89.11 a barrel Thursday. Brent crude for December delivery rose $2.12 to $94.57 a barrel. Wholesale gasoline for November delivery rose 7 cents to $2.70 a gallon. November heating oil rose 16 cents to $4.09 a gallon. November natural gas rose 30

By MARCY GORDON AP Business Writer WASHINGTON (AP) — Facebook parent Meta struck back in its legal battle with federal regulators over its proposed acquisition of virtual-reality company Within Unlimited and its fitness app Supernatural. Meta asked a federal court in San Jose, California, to dismiss the Federal Trade Commission’s request in July for an

The Associated Press Wall Street staged its biggest comeback in years as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation. The S&P 500 jumped 2.6% Thursday, a stunning reversal after earlier being down as much as 2.4% and touching its lowest level in nearly two years. The Dow and

By MICHAEL LIEDTKE AP Technology Writer SAN RAMON, Calif. (AP) — Netflix next month will unveil the first version of its video streaming service with ads, giving cost-conscious viewers a chance to watch most of its shows at a steep discount in exchange for putting up with commercial interruptions. The ad-supported service is scheduled to

By SUZAN FRASER and DASHA LITVINOVA Associated Press ANKARA, Turkey (AP) — Russian President Vladimir Putin on Thursday doubled down on his proposal to turn Turkey into a gas hub for Europe after deliveries to Germany through the Baltic Sea’s Nord Stream pipeline were halted. Putin floated the idea of exporting more gas through the

By DÁNICA COTO Associated Press SAN JUAN, Puerto Rico (AP) — The National Science Foundation announced Thursday that it will not rebuild a renowned radio telescope in Puerto Rico, which was one of the world’s largest until it collapsed nearly two years ago. Instead, the agency issued a solicitation for the creation of a $5

BERLIN (AP) — German federal prosecutors are taking charge of the investigation into the suspected sabotage of a railway communication system that brought trains to a standstill Saturday across northwestern Germany. The federal prosecutors office said Thursday it is taking over the probe from state investigators due to the gravity of the case. Officials said

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — An activist investor that has been pressing department chain Kohl’s to make changes to turn around its business is now upping the ante.Macellum Advisors GP, LLC, which has nearly 5% of the outstanding common shares of Kohl’s, is pushing the company to oust some of

By NINIEK KARMINI Associated Press JAKARTA, Indonesia (AP) — Indonesia’s leader launched the country’s first home-grown COVID-19 shot Thursday to help reduce the world’s fourth most populous nation’s dependency on imported vaccines. President Joko Widodo announced the vaccine brand, IndoVac, as a new milestone of Indonesia’s pharmaceutical industry that will manufacture primary series vaccines, booster

Associated Press Samsung Electronics has been granted an exception that will allow it to continue to temporarily maintain its memory-chip production facilities in China after the U.S. announced last week it’s tightening export controls to limit China’s ability to get advanced computing chips, according to a Biden administration official. The official, who was not authorized

By CORA LEWIS Associated Press NEW YORK (AP) — Tens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments. The increase is not expected to have a big impact on the trust that funds Social Security. That

MADRID (AP) — The former head of safety for Spain’s state-owned rail infrastructure company has told a court that he was not responsible for the 2013 train crash that killed 80 passengers. Andrés Cortabitarte and the train’s driver are both facing four-year prison terms if found guilty of professional negligence. Spanish news agency Efe reported

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — The lack of some benefits most American workers can readily count on, like paid sick leave and regularly scheduled weekends, is driving some railroad workers to veto contracts that include hefty raises and $5,000 bonuses. This week’s vote by the third-largest railroad union against their

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely climb further as the Federal Reserve all but promised more rate increases as it tries to tamp down inflation. Mortgage buyer Freddie Mac reported Thursday that the

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The managing director of the International Monetary Fund urged global policymakers to stop inflation from becoming “a runaway train″ at a time of extraordinary economic turmoil. The IMF’s Kristalina Georgieva noted that the world economy “has been hit by one shock after another″ — the coronavirus

COLUMBUS, Ohio (AP) — Ohio plans to offer approximately $156.3 million in tax incentives and infrastructure improvements as part of battery plant project, the state said Wednesday. Of $85 million set aside for infrastructure improvements, $75 million will be for water and utility improvements and the rest will be to improve local and state roads,

BERLIN (AP) — Germany wants to introduce a public transit pass that costs 49 euros ($47) a month and will be valid nationwide. The proposal follows on from a wildly successful “9-euro ticket” in Germany for three months this summer as part of efforts to help people switch to environmentally friendly transport. One of its

By TOM MURPHY AP Health Writer Walgreens Boots Alliance topped earnings forecasts in the final quarter of fiscal 2022, and the drugstore chain’s early look at 2023 also fell mostly above expectations. A drop in COVID-19 vaccinations and a big charge tied to the company’s United Kingdom stores weighed on results, but shares edged up

BERLIN (AP) — Former German Chancellor Angela Merkel has defended decisions made during her tenure to buy natural gas from Russia. Speaking in Lisbon Thursday, Merkel said “you always act in the time you are in” and that she doesn’t regret decisions she made. She said that it was clear that Germany needed to diversify

STOCKHOLM (AP) — Swedish home furnishings giant IKEA says that despite “unprecedented challenges” caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an “exceptional year.” IKEA on Thursday reported a 5.6% increase in retail sales this financial year. The chief executive of the

By JOE McDONALD Associated Press BEIJING (AP) — The Chinese government has accused Washington of “Cold War thinking.” The government appealed for efforts to repair strained relations after President Joe Biden released a national security strategy that calls for “out-competing China” and blocking its efforts to reshape global affairs. The foreign ministry also accused Washington