AP National Business

By ALEX VEIGA AP Business Writer FedEx is shuttering storefronts and corporate offices while putting off new hires in a belt-tightening drive brought on by drop-off in its global package delivery business. The company based in Memphis, Tennessee, warned it will likely miss Wall Street’s profit target for its fiscal first quarter that ended Aug.

By JOSH BOAK and ZEKE MILLER Associated Press WASHINGTON (AP) — While President Joe Biden was quick to hail Thursday’s strike-averting rail agreement as a win for America, it was also a big win for him politically, allowing Democrats to sidestep what could have been an economic debacle before November’s midterm elections. Pressured to choose

By DAVID HAMILTON AP Technology Editor SAN FRANCISCO (AP) — A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as “the merge” is not going to do the trick by itself. With the change enacted late Wednesday, ethereum

By DAVID KOENIG AP Airlines Writer Boeing is stuck with more than 100 planes that it can’t deliver to Chinese airlines, so it’s going to resell some of those planes to other customers. Company officials said Thursday they have waited long enough for permission to deliver new Boeing 737 Max jets to China, and they

The Associated Press Benchmark U.S. crude oil for October delivery fell $3.38 to $85.10 a barrel Thursday. Brent crude for November delivery fell $3.26 to $90.84 a barrel. Wholesale gasoline for October delivery fell 9 cents to $2.43 a gallon. October heating oil fell 17 cents to $3.21 a gallon. October natural gas fell 79

DETROIT (AP) — Nissan is recalling more than 203,000 pickup trucks in the U.S. because they can roll away unexpectedly when shifted into park. The recall covers Frontier and Titan pickups from the 2020 through 2023 model years. Nissan says owners should use the parking brake whenever they park their trucks. The company says a

By JOHN FLESHER AP Environmental Writer TRAVERSE CITY, Mich. (AP) — Oil titan BP has agreed to pay $2.75 million to settle a lawsuit over air pollution from its largest refinery. Environmentalists had sued over emissions from the Whiting facility on the Lake Michigan shoreline between Hammond, Indiana, and Chicago. It’s the second deal reached

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — CSX has hired an auto industry executive to lead its railroad after its current CEO retires. Florida-based CSX said Thursday that former Ford executive Joe Hinrichs will take over from Jim Foote. Hinrichs said in an interview with The Associated Press he’s very excited that

BILOXI, Miss. (AP) — Mississippi has quietly settled its lawsuit against State Farm Fire and Casualty Co. for allegedly minimizing its Hurricane Katrina payments to policyholders, leaving the state to compensate homeowners. The Sun Herald reports that according to the settlement, the $12 million payment represents “restitution for damage, which was or may have been

DETROIT (AP) — General Motors says it will spend $491 million to expand and upgrade an Indiana metal stamping plant for production of steel and aluminum stamped parts for “future vehicles,” including electric vehicles. The automaker said Thursday it would install two new press lines, complete press and die upgrades and make renovations to the

LONDON (AP) — Microsoft’s $69 billion deal to buy video game company Activision Blizzard faces an in-depth antitrust investigation in Britain after the tech company refused to offer proposals to ease competition concerns. The U.K. competition watchdog said Thursday that it was referring the deal for more scrutiny. It said the deal “may be expected

By JAMEY KEATEN Associated Press GENEVA (AP) — Swiss police are investigating a fake advertising campaign that appeared on social media and shows a poster urging people to snitch on their neighbors if they heat their homes too much this winter — when an energy crunch is expected to hit Western Europe. The bogus ad,

DALLAS (AP) — Southwest Airlines said Thursday that corporate travel is recovering more slowly than the airline had expected, although that is offset by continuing strong demand from leisure travelers even after the end of the traditional summer vacation season. Southwest said revenue from “managed” business travel in the quarter ending Sept. 30 will be

By WAYNE PARRY Associated Press TRENTON, N.J. (AP) — Mindful that its thriving internet gambling market is one of the brightest spots in New Jersey’s uneven gambling landscape, the state’s lawmakers are moving to extend authorization for online bets for another 10 years. A state Assembly committee held a hearing Thursday to consider extending the

By KAREEM CHEHAYEB Associated Press BEIRUT (AP) — A Lebanese activist group says they will continue to organize bank heists to help people retrieve their trapped savings in this crisis-hit Mideast country. Activists from the Depositors’ Outcry group made these remarks at a press conference on Thursday, after the group had helped Sali Hafez retrieve

By DAVID BAUDER AP Media Writer NEW YORK (AP) — CNN says it is scrapping its “New Day” morning show for a revamped program that will be hosted by Don Lemon, Poppy Harlow and Kaitlan Collins, set to debut later this year. It will have a new name, set and format, but few of those

By JARI TANNER Associated Press HELSINKI (AP) — Finland’s president says he wants to make it harder for Russians to use owning real estate in the Nordic nation as justification for obtaining travel visas. President Sauli Niinisto told journalists in Helsinki on Thursday that “getting a visa to a country is not a subjective right

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Kanye West is breaking up with the Gap. An attorney for Kanye West, who goes by Ye, told The Associated Press that a letter has been sent to the clothing chain Thursday seeking to terminate the contract between Gap and West’s company, Yeezy. The clash

By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — The largest part of the U.S. economy is holding up against the hottest inflation in four decades and the threat of a potential recession. Hotels, restaurants and other businesses that provide services have managed to keep gaining ground through the summer, according to the

By MOGOMOTSI MAGOME Associated Press JOHANNESBURG (AP) — South African President Cyril Ramaphosa is expected to meet with U.S. President Joe Biden on Friday. Aides say that the South African leader will stress the importance of holding talks between Russia and Ukraine. Ramaphosa is among the African leaders who have maintained a neutral stance on

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 6.02% from

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — Here’s what’s in the tentative agreement that railroad unions secured to prevent a potential freight railroad strike. The final deal was negotiated by the unions that represent engineers and conductors, but all 12 of the rail unions will likely benefit from the concessions railroads made

AMSTERDAM (AP) — The CEO of Amsterdam’s Schiphol Airport has quit after a summer that descended into chaos and flight cancellations amid staff shortages in the aftermath of the COVID-19 pandemic. CEO Dick Benschop told the board of his decision on Wednesday night and the airport announced his departure Thursday. He says, “I’ve done my

BERLIN (AP) — Germany’s economy minister says the Group of Seven major economies have agreed to take a tougher, more coordinated stance toward China when it comes to trade. Robert Habeck briefed reporters Thursday after a two-day meeting with fellow G-7 officials east of Berlin. He said the discussions about China were part of a