AP National Business

By STAN CHOE AP Business Writer NEW YORK (AP) — A rare bear market in bonds hasn’t gotten much attention, but it may be inflicting more pain on investors than the depressed markets for other assets like stocks and cryptocurrencies. Investment-grade bonds — those issued by governments and corporations with good credit ratings — have

By TOM KRISHER AP Auto Writer DETROIT (AP) — Ford is restructuring its vehicle development and supply chain operations, shuffling multiple executives just days after announcing that it would build up to 45,000 vehicles with parts missing due to shortages. The Dearborn, Michigan, automaker gave some executives new roles and said that its chief financial

By FRANK JORDANS Associated Press BERLIN (AP) — A top Ukrainian government economist says the country’s efforts to defend itself from Russia are placing a severe financial burden on the country that it can only bear with the help of outside support. Oleg Ustenko, chief economic advisor to Ukrainian President Volodymyr Zelenskyy, said the speed

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008, a result of the Federal Reserve’s intensified effort to tamp down decades-high inflation and cool the economy. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate

By KEN SWEET AP Business Writer NEW YORK (AP) — The CEOs of the nation’s biggest banks returned to Capitol Hill for a second day Thursday, and Senate Democrats strongly urged them to do more to help and protect their customers, while Republicans questioned whether banks should weigh in on hot-button social issues. The bank

By SCOTT McFETRIDGE Associated Press CHURDAN, Iowa (AP) — In the 1970s when George Naylor said he wanted to grow organic crops, the idea didn’t go over well. Back then organic crops were an oddity, destined for health food stores or maybe a few farmers markets. “I told my dad I wanted to be an

By MATT OTT AP Business Writer WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week despite the Federal Reserve’s year-long battle against inflation that’s intended to cool the economy and the tight labor market. Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000,

By KAREEM CHEHAYEB Associated Press BEIRUT (AP) — Lebanon’s embattled banks have decided to remain indefinitely closed after rejecting a proposed government security plan. The secretary-general of the Association of Banks in Lebanon told The Associated Press on Thursday that the banks will now have to determine their own security measures following a string of

DETROIT (AP) — Tesla is recalling nearly 1.1 million vehicles in the U.S. because the windows can pinch a person’s fingers when being rolled up. Tesla says in documents posted Thursday by U.S. safety regulators that the automatic window reversal system may not react correctly after detecting an obstruction. The National Highway Traffic Safety Administration

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Walmart and Target plan to begin offering deals and price matching offers earlier this year to keep up with Americans pressed by soaring inflation and looking for ways to take the sting out of holiday shopping. Inflation that is hovering near four-decade highs, experts believe,

By LORNE COOK Associated Press BRUSSELS (AP) — European Union officials say the world’s biggest trading bloc is determined to impose more sanctions on Russia. That’s in response to Russian attempts to annex parts of Ukraine with suspect referendums, and President Vladimir Putin’s decision to ramp up the war. But finding a consensus among member

By NICOLAS GARRIGA and SYLVIE CORBET The Associated Press SAINT-NAZAIRE, France (AP) — French President Emmanuel Macron has called for a “massive acceleration” of renewable energy development in France, including offshore wind farms and solar power. The country is lagging behind most of its European neighbors in using renewable energy. The move comes amid a

TOKYO (AP) — Japan’s central bank has intervened to stem the yen’s decline against the U.S. dollar. Earlier Thursday, the dollar rose to nearly 146 yen — a 24-year low — after the Bank of Japan left its key lending rate unchanged following the U.S. Federal Reserve’s decision to raise its benchmark rate by three-quarters

LISBON, Portugal (AP) — Portugal’s national airline TAP Air Portugal says hackers obtained the personal data of some of its customers and have published the information on the dark web. The flag carrier said in a statement that no payment data was taken in the cyberattack. The airline said late Wednesday that the attack began

By HUIZHONG WU Associated Press TAIPEI, Taiwan (AP) — Taiwan is considering an end to its quarantine requirement for all arrivals in mid-October. The island has been one of the few places in the world that has held on to a quarantine for all arrivals throughout the course of the pandemic. In recent months, it

By ZEYNEP BILGINSOY Associated Press ISTANBUL (AP) — Turkey’s central bank has delivered another massive interest rate cut despite eye-popping inflation above 80%. The action Thursday is the reverse of what other world economies are doing as they combat soaring inflation. The Turkish bank lowered its benchmark rate by 1 percentage point, to 12%. The

By KELVIN CHAN Associated Press LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. It is

GENEVA (AP) — Switzerland’s central bank has carried out the biggest hike ever to its key interest rate. It’s following the U.S. Federal Reserve and other central banks around the world in aggressive moves to clamp down on inflation. The Swiss National Bank said Thursday that it couldn’t rule out further increases beyond the rise

By KELVIN CHAN AP Business Writer LONDON (AP) — Pubs, restaurants, breweries, retailers and other businesses across the United Kingdom are being pushed to the brink by skyrocketing energy bills. One bakery owner doubts that even a massive support package announced this week by the U.K. government will make much of a difference to businesses

By JOSHUA GOODMAN Associated Press MIAMI (AP) — Executive directors of the Inter-American Development Bank voted unanimously Thursday to recommend firing a former Trump official as president of the Washington-based institution, a person familiar with the vote said. The move came after an investigation conducted at the bank board’s request determined that Mauricio Claver-Carone violated

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the