Month: April 2022

WASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation. The average 5% rate on the 30-year mortgage was up from 4.72% last week, mortgage buyer Freddie Mac reports. The average rates

By LAURIE KELLMAN Associated Press TEL AVIV, Israel (AP) — Israel’s leaders say the military’s laser defense system has successfully intercepted drones, mortars, rockets and anti-tank missiles in recent tests. Prime Minister Naftali Bennett said in a statement Thursday that the laser interceptions are “silent, they’re invisible and they only cost around $3.50” apiece. The

By GLENN GAMBOA AP Business Writer NEW YORK (AP) — The Clinton Health Access Initiative selected Dr. Neil Buddy Shah as its new CEO Thursday, a sign of the global health organization’s move towards growth in low- and middle-income nations and use of new philanthropic efforts to help fund the expansion. Shah is currently managing

By MATTHEW PERRONE AP Health Writer WASHINGTON (AP) — The Food and Drug Administration says it will begin cracking down on e-cigarettes that have used synthetic nicotine to skirt oversight. The companies behind those products sell vaping flavors that appeal to kids. Previously, the agency could only regulate products that used nicotine derived from tobacco.

Associated Press In his first letter to Amazon shareholders, CEO Andy Jassy offered a defense of the wages and benefits the company gives its warehouse workers while also vowing to improve injury rates inside the facilities. Jassy, who took over from Amazon founder Jeff Bezos as CEO last July, wrote the company has researched and

By KEN SWEET AP Business Writer NEW YORK (AP) — Four big banks reported noticeable declines in their first quarter profits on Thursday, as the volatile markets and war in Ukraine caused dealmaking to dry up and a slowdown in the housing market caused the mortgage market to slow. The results from Citigroup, Goldman Sachs,

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The head of the International Monetary Fund warned that Russia’s war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing Director Kristalina Georgieva said the consequences of

BOSTON (AP) — A California-based finance company has agreed to pay more than $900,000 to settle allegations that it was illegally leasing dogs in Massachusetts. The Massachusetts attorney general’s office said as part of the agreement announced Wednesday, Monterey Financial Services LLC will stop collecting on active leases, cancel about $700,000 in outstanding consumer debt

By ANNE D’INNOCENZIO The Associated Press NEW YORK (AP) — Retail sales rose modestly in March, but higher prices for food, gasoline and other basics took a big share of consumers’ wallets. Retail sales increased 0.5% after registering a revised 0.8% increase from January to February. Spending has been fueled by wage gains, solid hiring

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The number of people seeking unemployment benefits ticked up last week but remained at a historically low level, reflecting a robust U.S. labor market with near record-high job openings and few layoffs. Jobless claims rose by 18,000 to 185,000, the Labor Department said, after nearly touching

DETROIT (AP) — Tesla is recalling nearly nearly 595,000 vehicles in the U.S., most for a second time, because a “Boombox” function can play sounds over an external speaker and obscure audible warnings for pedestrians. The company says in government documents that the new recall will disable “Boombox” if owners are using a feature that

ANKARA, Turkey (AP) — Turkey’s central bank has kept its main interest rate unchanged for a fourth month running even as surging inflation has hit a 20-year high and eroded people’s purchasing power. The bank said Thursday that it was keeping its policy rate constant at 14%. The decision is in line with President Recep

By LISA RATHKE Associated Press BURLINGTON, Vt. (AP) — The first of four men accused in a failed plan to build a biotechnology plant in Vermont using tens of millions of dollars in foreign investors’ money raised through a special visa program has been sentenced to 18 months in federal prison. Seventy-three-year-old William Stenger, the

By The Associated Press PARIS (AP) — With tensions around the war in Ukraine as a backdrop, the Cannes Film Festival plans to host some 35,000 people as the movie industry looks to reclaim its pre-pandemic glamour. On Thursday, organizers unveiled the 18 films that will compete for the coveted Palme d’Or prize at the

By GEIR MOULSON Associated Press BERLIN (AP) — German authorities say four people have been arrested and have been weapons seized in an investigation of suspected anti-government extremists who allegedly planned to cause a long nationwide blackout and kidnap well-known figures including the country’s health minister. Prosecutors and police said Thursday that raids were carried

By JOE McDONALD Associated Press BEIJING (AP) — Anti-virus controls are shutting down some of China’s biggest cities and fueling public irritation as infections rise. That is hurting a slowing economy and prompting warnings of possible global shockwaves. Shanghai is easing rules that confined most of its 25 million people to their homes, but most

By LAURAN NEERGAARD AP Medical Writer Pfizer wants to expand its COVID-19 booster shots to healthy 5- to 11-year-olds. U.S. health authorities already urge everyone 12 and older to get one booster dose for the best protection. And those 50 and older have the option of a second booster. Pfizer said Thursday new data shows

By TOM MURPHY AP Health Writer UnitedHealth Group delivered a better-than-expected first quarter and raised its 2022 forecast, as growth in Medicare Advantage coverage and care delivery once again helped the health care giant. The nation’s largest health insurance provider said enrollment in its Medicare Advantage plans grew nearly 9% to about 6.9 million people.

LONDON (AP) — British authorities have authorized a coronavirus vaccine for adults made by French drugmaker Valneva. The U.K. is the first country to authorize Valneva’s vaccine, which is also under review by the European Medicines Agency. Britain’s medicines regulator said Thursday that the two-dose vaccine is intended for adults ages 18 to 50. The