Month: April 2022

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The surging cost of energy pushed wholesale prices up a record 11.2% last month from a year earlier — another sign that inflationary pressure is widespread in the U.S. economy. The Labor Department said Wednesday that its producer price index — which measures inflation before it

Associated Press While demand for homes has remained red hot, market conditions have slowed the pace of sales nationally compared with a year ago. Fewer homes are on the market while prices have jumped. Some homes are selling for more than their appraised value and would-be buyers with approved financing are losing out to buyers

By ALEX VEIGA AP Business Writer LOS ANGELES (AP) — America’s housing market has grown increasingly frenzied, and prices are out of reach for many buyers, especially first-timers. This spring, traditionally the busiest season for home sales, is more likely to deliver frustration and disappointment for aspiring homebuyers than it is homeownership. The number of

By WILSON RING and MARK GILLISPIE Associated Press VICTORY, Vt. (AP) — Tens of billions of dollars in federal money to improve broadband internet service in rural areas across the country are starting to reach the groups that will help provide the service, but experts say supply chain issues, labor shortages and geographic constraints will

By ROB HARRIS AP Global Soccer Writer The bid for Chelsea launched by Boston Celtics co-owner Steve Pagliuca has added Canadian sports tycoon Larry Tanenbaum ahead of Thursday’s expected deadline for improved offers for the Premier League club. Tanenbaum was announced Wednesday as joining as co-managing partner of the bid. He has ownership stakes in

By PAUL J. WEBER and ACACIA CORONADO Associated Press AUSTIN, Texas (AP) — Texas Gov. Greg Abbott says he will continue truck inspections that have gridlocked the U.S.-Mexico border for days. The two-term Republican governor said Wednesday he would not repeal his new policy at all bridges until there are more assurances of security. Abbott

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — Treasury Secretary Janet Yellen is urging China to use its “special relationship with Russia” to persuade Russia to end the war in Ukraine. Yellen said at the Atlantic Council in Washington on Wednesday that Beijing “cannot expect the global community to respect its appeals to the principles

By KEN SWEET AP Business Writer NEW YORK (AP) — JPMorgan Chase said its first quarter profits dropped by 42% from last year, partly because the bank had to write down nearly $1.5 billion in assets due to higher inflation and Russia’s war in Ukraine. The nation’s largest bank by assets said it earned a

By MICHAEL CANTU Edmunds The 2022 Subaru BRZ has been completely redesigned with more power, sleeker looks and improved handling. But is it better than the fourth-generation Mazda MX-5 Miata RF hardtop, the reigning champ of small, driver-focused sports cars? Each vehicle offers a rear-wheel-drive setup, has room for two passengers, and is fun to

By SAM KEMMIS of NerdWallet For another year, summer travel plans are up in the air even as more people are ready to take to the skies. Summer vacations are roaring back, but you still need Plans A, B and possibly C to make sure you get away. Book flights and lodging early and take

By KRISHAN FRANCIS and ERANGA JAYAWARDENA Associated Press COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister is offering to meet with protesters occupying the entrance to the president’s office, saying he would listen to their ideas for resolving the economic, social and political crisis facing the country. The protesters have camped out for a

MADRID (AP) — Spanish police have confiscated a huge hemp plantation in the northern province of Navarra and arrested three suspected growers. Spain’s Civil Guard said on Wednesday that the 1,025-acre ((415-hectare) plantation was the largest of its kind in Europe. Police say the owner reported that his crop was for industrial use. But investigators

BERLIN (AP) — A group of leading economic think tanks has slashed its forecast for growth in Germany this year. They predicted on Wednesday that Europe’s biggest economy will expand by 2.7% as Russia’s war in Ukraine weighs on prospects. The think tanks forecast an even worse performance if Russian gas supplies are cut off

BEIJING (AP) — Shanghai says it has released 6,000 more people from medical observation facilities, though the lockdown of most of China’s largest city was continuing in its third week. About 6.6 million people in the city of 25 million were allowed to leave their homes Tuesday, but some were restricted to their own neighborhoods.

JAKARTA, Indonesia (AP) — An overloaded truck carrying 29 people hit a hillside and overturned near an illegal gold mine in Indonesia’s West Papua province on Wednesday. The crash killed 18 people and left others injured. The truck was crammed with miners and their families who were headed to the capital Manokwari to celebrate Easter.

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Asian shares are mostly higher after an advance on Wall Street that ended a three-day losing streak. Tokyo, Hong Kong and Shanghai advanced while Seoul edged lower. Oil prices fell back and U.S. futures climbed. On Wednesday, the S&P 500 rose 1.1%, the Dow Jones Industrial

LONDON (AP) — British consumer prices rose at their fastest pace in 30 years last month, fueled by soaring prices for household energy and motor fuels. The Office of National Statistics reported Wednesday that inflation accelerated to 7% in the 12 months through March. That’s the highest annual rate since March 1992. The U.K. is

By MIKE CORDER Associated Press ALMERE, Netherlands (AP) — Thousands of tulips are in bloom this week to welcome visitors to the opening of a once-in-a-decade Dutch horticultural exhibition called Floriade. More than 25 nations are presenting sustainable ideas during this year’s show, which is focused on making urban areas more sustainable and healthier places

By JOE McDONALD AP Business Writer BEIJING (AP) — China’s exports rose 15.7% in March over a year earlier while imports were flat due to disruptions from coronavirus outbreaks. Customs data show exports rose to $276 billion despite anti-virus controls in Shanghai and other industrial hubs that caused factories to reduce output. Imports rose less