AP National Business

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Lael Brainard, President Joe Biden’s nominee for the Federal Reserve’s No. 2 spot, said Thursday that combating high inflation is the Fed’s top priority and promised the Fed could bring it down without sacrificing job growth. Brainard’s elevation of inflation-fighting as the Fed’s top goal is

By MATTHEW PERRONE AP Health Writer WASHINGTON (AP) — Two brand-new COVID-19 pills that were supposed to be an important weapon against the pandemic in the U.S. are in short supply and have played little role in the fight against the omicron wave of infections. The problem is that production is not yet at full

By STAN CHOE AP Business Writer NEW YORK (AP) — The shakiness hitting Wall Street isn’t just because the Federal Reserve’s money printer that’s supporting markets is slowing, but that it may soon go into reverse. With inflation high and the economy strengthening, the Fed has warned investors the ultra-easy conditions it’s created for them

By TOM KRISHER AP Auto Writer DETROIT (AP) — Honda expects its factories to make more vehicles this year despite a computer chip shortage and supply chain troubles. But because it started 2022 with so few vehicles at dealers, the company expects U.S. sales to fall below last year’s numbers. Honda expects U.S. new vehicle

By SYLVIA HUI Associated Press LONDON (AP) — British officials say the self-isolation period for people in England who test positive for COVID-19 will be reduced from next week to five full days, instead of seven. Health Secretary Sajid Javid also said Thursday that early signs suggest the rate of hospitalization from the coronavirus is

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Prices at the wholesale level surged by a record 9.7% for all of 2021, setting an annual record and providing further evidence that inflation is still present at all levels of the U.S. economy. The Labor Department reported Thursday that its producer price index, which measures

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since mid-November. U.S. jobless claims climbed by 23,000 last week to 230,000, still low by historic standards. The four-week moving average, which smooths out week-to-week blips, was up nearly 6,300 to

MADRID (AP) — Spain is introducing price controls for COVID-19 home testing kits after an outcry over reports of price-gouging during the Christmas holidays, when demand for the rapid antigen tests outpaced supply. Authorities announced Thursday that the maximum price for the kits on sale at pharmacies from Saturday will be 2.94 euros ($3.37). Health

By DAVID BILLER and JOSHUA GOODMAN Associated Press SAO PAULO (AP) — A Sao Paulo-based company called Marsam is known for its commitment to the responsible sourcing of precious metals. But an investigation by the  Associated Press has found that it processes gold for — and shared ownership links to — an intermediary accused by

By JILL LAWLESS Associated Press LONDON (AP) — Top negotiators from Britain and the European Union are meeting in hopes of resolving their a thorny dispute over Northern Ireland trade. U.K. Foreign Secretary Liz Truss and European Commission Vice President Maros Sefcovic are holding talks at Chevening House, the foreign secretary’s official country retreat. Sefcovic

BEIRUT (AP) — A general strike by public transportation and labor unions has paralyzed Lebanon as the nation suffers through one of the world’s worst economic crises. Thursday’s protests come as the country’s ruling class has done almost nothing to pull Lebanon out of its meltdown, which is rooted in decades of corruption and mismanagement.

By RAF CASERT Associated Press BRUSSELS (AP) — The European Union has rejected the merger between South Korean shipbuilders Hyundai and Daewoo. Officials said Thursday that a union between two of the world’s biggest players in the industry would have given the merged company a global stranglehold on the production of liquified natural gas carriers.

By SALLY FRENCH of NerdWallet Travel in the second half of 2021 was a chaotic mess in many capacities, with canceled flights, long delays and other interruptions. It wasn’t uncommon for travelers to find themselves among the mob of people hovering over the customer service counter, jockeying against everyone else to get rebooked on the

By DAVID KOENIG AP Airlines Writer Delta Air Lines is reporting a $408 million loss for the final quarter of 2021, dragged down by a COVID-19 surge that rocked the airline in December. It expects to suffer one more quarterly loss before travel picks up in the spring and summer. CEO Ed Bastian said Thursday

By The Associated Press (AP) — Italy on Thursday marks the 10th anniversary of the Costa Concordia cruise ship wreck off the Tuscan island of Giglio. There are some key dates in the saga, including the trial of the captain and the remarkable engineering feat to right the liner from its side so it could

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Europe’s natural gas crisis isn’t letting up. Prices are high. Reserves that are relied on in cold weather are low. Major Russian supplier Gazprom isn’t selling gas like it used to. Pipeline operators say that if there’s a cold winter, the continent’s gas companies will

TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips, says its quarterly profit rose 16.4% over a year earlier to $6 billion amid surging demand for chips for smartphones and other electronics. TSMC announced revenue in the final three months of 2021 rose 21.2% to $15.8 billion. The company

By ASHOK SHARMA Associated Press NEW DELHI (AP) — India and Britain have launched talks on a free trade deal that is expected to boost bilateral trade by billions of dollars in one of the most ambitious negotiations after Brexit. Britain’s International Trade Secretary Anne-Marie Trevelyan met with Piyush Goyal, India’s minister of commerce and

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Asian shares are lower after a retreat on Wall Street that left the Nasdaq composite down 2.5%. Tokyo fell nearly 2% and Hong Kong, Shanghai and Seoul were also lower. China reported its global trade surplus surged nearly 30% in 2021 to $676.4 billion. On Thursday,

By DAVID BILLER and JOSHUA GOODMAN Associated Press SAO PAULO (AP) — A Sao Paulo-based company called Marsam is known for its commitment to the responsible sourcing of precious metals. But an investigation by the  Associated Press has found that it processes gold for — and shared ownership links to — an intermediary accused by

By MORGAN LEE Associated Press SANTA FE, N.M. (AP) — A new lawsuit accuses an ammunition supplier of creating dangerous conditions on a movie set where a gun held by actor Alec Baldwin killed a cinematographer, by including live ammunition in a box that was supposed to include only dummy rounds. The lawsuit was filed

By SOPHIA TAREEN and KATHLEEN FOODY Associated Press CHICAGO (AP) — The Chicago Teachers Union has narrowly backed an agreement dictating COVID-19 safety protocols in the nation’s third-largest school district. Wednesday’s vote will keep kids in classrooms after five days of cancelled classes due to a standoff with the city over remote learning and virus

By JAMIE STENGLE Associated Press DALLAS (AP) — Mike Cochran, who during a nearly 40-year career with The Associated Press told the stories of Texas’ larger-than-life characters with his rich and detailed writing, and who ended up serving as a pallbearer for Lee Harvey Oswald while covering the presidential assassin’s funeral, has died. He was

ATLANTA (AP) — Delta Air Lines says customers will get an extra year to use travel vouchers that they received after canceling a flight during the pandemic. Atlanta-based Delta said Wednesday those vouchers will now extend through the end of 2023. Delta says that new date will also apply to any tickets bought in 2022.

SAN FRANCISCO More than 80 fact checking organizations are calling on YouTube to address what they say is rampant misinformation on the platform. A letter to CEO Susan Wojcicki published Wednesday calls the Google-owned platform one of the major conduits of online disinformation and misinformation worldwide. The fact checkers say YouTube’s efforts to address the

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Lael Brainard pledged in written remarks to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed’s No. 2 official. Brainard, a member of the central bank’s Board

The Associated Press Stocks closed higher on Wall Street Wednesday after the latest report of surging prices appeared to keep the Federal Reserve on track to raise interest rates later this year. The S&P 500, the Dow Jones Industrial Average and the Nasdaq rose. Technology stocks led the market higher. Inflation jumped 7% last month,

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Dish Network, Ally Financial rise; Biogen, Carvana fall.

By CHINEDU ASADU Associated Press ABUJA, Nigeria (AP) — The Nigerian government has lifted its ban on Twitter, seven months after the West African country’s more than 200 million people were shut out of the social media network. Kashifu Inuwa Abdullahi, director-general of the country’s National Information Technology Development Agency, said Nigerian President Muhammadu Buhari

The Associated Press Closing prices for crude oil, gold and other commodities, and foreign exchange levels.

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The Federal Reserve says the economy was growing at a modest pace at the end of 2021 but was still being held back by ongoing supply-chain disruptions and labor shortages. In its latest survey of business conditions around the country, the Fed said its 12 regional

By MARTIN CRUTSINGER and FATIMA HUSSEIN Associated Press WASHINGTON (AP) — The federal government last month posted its smallest monthly budget deficit in two years. That was thanks to a rebounding economy that helped boost tax receipts, coupled with slower spending as some COVID relief programs ended. The Treasury Department reported that the December deficit

By Associated Press (AP) — Italy on Thursday marks the 10th anniversary of the Costa Concordia cruise ship wreck off the Tuscan island of Giglio. There are some key dates in the saga, including the trial of the captain and the remarkable engineering feat to right the liner from its side so it could be

ORLANDO, Fla. (AP) — Starting next month, workers at Universal Orlando’s theme parks will have to be vaccinated or undergo weekly COVID-19 testing in order to comply with federal guidelines. Company officials said Wednesday that workers at Universal’s theme parks must be fully vaccinated by Feb. 9 or be required to take a test every

By ELLEN KNICKMEYER and AAMER MADHANI The Associated Press WASHINGTON (AP) — Senate Democrats are proposing new sanctions against Russia if it invades Ukraine. Wednesday’s legislation is aimed at derailing a Republican proposal that the White House fears could undermine unity with European allies. The bill introduced by Republican Sen. Ted Cruz would impose tough

By ZEKE MILLER Associated Press WASHINGTON (AP) — The Biden administration is increasing federal support for COVID-19 testing for schools in a bid to keep them open amid the omicron surge. The White House said Wednesday the administration is making a dedicated stream of 5 million rapid tests and 5 million lab-based PCR tests available

By TRISHA THOMAS and NICOLE WINFIELD Associated Press GIGLIO, Italy (AP) — Italy is marking the 10th anniversary of the Costa Concordia cruise ship disaster with a daylong commemoration on Thursday. The events include a Mass and will end with a candlelit vigil near the moment of impact: 9:45 p.m. on Jan. 13, 2012. That’s

By GLENN GAMBOA AP Business Writer Richard R. Buery, Jr., is starting his first full year as CEO of the Robin Hood Foundation, but he is no stranger to New York City’s largest poverty-fighting organization. He first encountered the nonprofit 20 years ago, when Groundwork Inc., the group providing support to children in public housing

MEXICO CITY (AP) — Mexican authorities say they are going to keep a close eye on Citigroup’s proposed sale of its Mexico subsidary, Citibanamex, noting the transaction poses “delicate” regulatory issues. Citibanamex is Mexico’s third-largest bank and regulators are apparently concerned that whoever acquires it could accumulate too big a share of the banking market.

By JANET McCONNAUGHEY and MATTHEW BROWN Associated Press NEW ORLEANS (AP) — Federal records show a severely corroded pipeline ruptured and spilled more than 300,000 gallons of diesel fuel just outside New Orleans. State and local officials say most of the fuel drained into and was skimmed out of two artificial ponds called “borrow pits.”

By MATTHEW DALY and MIKE CATALINI Associated Press TRENTON, N.J. (AP) — The Biden administration says it will hold its first offshore wind auction next month. It’s offering nearly 500,000 acres off the coast of New York and New Jersey for wind energy projects that could produce enough electricity to power nearly 2 million homes.

By The Associated Press A passenger arrested in Honduras for damaging the cockpit of an American Airlines jet during boarding has been released by authorities. The flight scheduled to depart for Miami on Tuesday afternoon was delayed for hours until a replacement plane could be arranged. The flight arrived in Florida early Wednesday, about eight

By VANESSA GERA Associated Press WARSAW, Poland (AP) — European Parliament lawmakers have called for a committee to investigate rights abuses by European Union governments using powerful spyware produced by Israel’s NSO Group. Renew Europe, a liberal political group, said Wednesday that the use of the software to break into the phones of government critics

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — At first, it didn’t even register as a threat. Then it seemed like a temporary annoyance. Now, inflation is flashing red for the Federal Reserve’s policymakers — and delivering sticker shock to Americans at the used car lot, the supermarket, the gas station, the rental office.

By TOM MURPHY AP Health Writer Shares of Biogen have tumbled a day after regulators slapped strict limitations on coverage the drugmaker’s new Alzheimer’s disease treatment. The Centers for Medicare and Medicaid Services said Tuesday that patients taking Biogen’s Aduhelm will have to participate in clinical trials to assess the drug’s effectiveness in order for

LONDON (AP) — Britain’s High Court has ruled that the government acted unlawfully when it used a so-called “VIP lane” to award lucrative contracts to suppliers of personal protective equipment during the first wave of the coronavirus pandemic in 2020. Two groups brought the legal action against the Department of Health and Social Care. They

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The head of the International Energy Agency has blamed Russia for worsening Europe’s natural gas crisis. Fatih Birol said Wednesday that high prices and low storage levels largely stem from the behavior of state-owned gas supplier Gazprom. He says Gazprom could send up to a

By COLIN BERESFORD of NerdWallet Applying to college is rarely easy, but applicants this year are faced with one additional challenge: creating a compelling college application after nearly two years of disruptions as a result of the pandemic. Grades and extracurriculars that would normally fill an application are missing due to accommodations and precautions made

By JILL LAWLESS Associated Press LONDON (AP) — Allegations that Prime Minister Boris Johnson’s staff held a “bring your own booze” garden party while Britain was in lockdown are just the latest claims of wrongdoing to rattle the leader. Cases of rule-bending and dishonesty have followed Johnson through his twin careers as journalist and politician.

By RONALD MONTOYA Edmunds 2021 was an unusual year for the automotive industry. While customer demand for new cars rebounded from the economic uncertainty of 2020, automakers found themselves unable to meet that demand because of semiconductor chip shortages and supply chain problems. So what should car shoppers expect for 2022? Much of the same,

By JILL LAWLESS Associated Press LONDON (AP) — Prime Minister Boris Johnson has apologized for attending a garden party during Britain’s first coronavirus lockdown, but brushed aside demands that he resign for breaching the rules his own government had imposed on the nation. The apology Wednesday stopped short of admitting wrongdoing. It was Johnson’s attempt

By MARIA CHENG and CARLA K. JOHNSON Associated Press Scientists are seeing signals that COVID-19′s alarming omicron wave may have peaked in Britain and is about to do the same in the U.S., at which point cases may start dropping off dramatically. The reason: The variant has proved so wildly contagious that it may already

By DASHA LITVINOVA Associated Press MOSCOW (AP) — President Vladimir Putin has reiterated warnings that Russia is facing a new surge of coronavirus infections because of the highly contagious omicron variant. He said Wednesday that “it’s obvious that we are in a very difficult situation today in a situation on the verge of possible new

ALMATY, Kazakhstan (AP) — With life in Kazakhstan’s largest city starting to return to normal after anti-government protests turned violent, relatives of the thousands arrested in the unrest are seeking to learn the fate of their loved ones. About 12,000 people are in custody following the unprecedented violence in the Central Asian nation. In the

By LORNE COOK Associated Press BRUSSELS (AP) — The United States and NATO have rejected key Russian security demands for easing tensions over Ukraine. But the allies and Russia also left open the possibility of future talks on arms control, missile deployments and ways to prevent military incidents. The decisions came at a meeting of

By FARAI MUTSAKA Associated Press MUREHWA, Zimbabwe (AP) — The number of pregnancies among girls and teenagers in Zimbabwe rose dramatically during the pandemic. Zimbabwe has long struggled with such pregnancies and child marriages because of lax enforcement of laws, poverty, and cultural and religious practices. But COVID-19 intensified the situation. The country of 15

By FARAI MUTSAKA Associated Press MUREHWA, Zimbabwe (AP) — The number of pregnancies among girls and teenagers in Zimbabwe rose dramatically during the pandemic. Zimbabwe has long struggled with such pregnancies and child marriages because of lax enforcement of laws, poverty, and cultural and religious practices. But COVID-19 intensified the situation. The country of 15

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — The Japanese minister assigned the task of containing COVID-19 while steering the world’s third largest economy toward growth says Japan must learn to coexist with the coronavirus. Daishiro Yamagiwa said Wednesday he is confident he can carry out that precarious “balancing act.” Japan had managed to

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Shares are mixed in Asia after the latest report of surging prices in the U.S. appeared to keep the Federal Reserve on track to raise interest rates in coming months. Tokyo, Shanghai and Seoul were lower while Hong Kong and Sydney advanced. U.S. futures declined. On

By DAVID KOENIG AP Airlines Writer China is blocking more than a dozen U.S. airline flights to the country because some passengers on recent flights tested positive for COVID-19. The move is the latest development in a dispute between the two countries over international flights and rules designed to prevent the spread of the coronavirus.

By BARBARA ORTUTAY AP Technology Writer A federal judge has ruled that the Federal Trade Commission’s revised antitrust suit against Meta, formerly known as Facebook, can proceed, shutting down the social media company’s request for a dismissal. In a revised complaint filed last August, the FTC argued that the company pursued “buy or bury” strategy

SAN DIEGO (AP) — Seven years after purchasing San Diego’s Saint Archer Brewery, Molson Coors has discontinued the brand and sold the brewery and local taprooms to Illinois-based Kings and Convicts Brewing. The San Diego Union-Tribune reports the move comes as the craft brewing industry deals with fallout from the coronavirus pandemic and changing consumer

By DEE-ANN DURBIN and PARKER PURIFOY AP Business Writer Shortages at U.S. grocery stores have grown more acute in recent weeks. New problems like the fast-spreading omicron variant and severe weather are piling on to the supply chain struggles and labor shortages that have plagued retailers since the coronavirus pandemic began. The shortages are widespread,

By RICARDO ALONSO-ZALDIVAR Associated Press WASHINGTON (AP) — Medicare says it will limit coverage of a $28,000-a-year Alzheimer’s drug whose benefits have been widely questioned. Tuesday’s decision from the Centers for Medicare and Medicaid Services is a major development in the nation’s tug-of-war over the fair value of new medicines that offer tantalizing possibilities but

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Big Lots, Aptiv fall; Illumina, Shake Shack rise.

The Associated Press Closing prices for crude oil, gold and other commodities, and foreign exchange levels.

By SYLVIE CORBET The Associated Press PARIS (AP) — French President Emmanuel Macron says people spreading fake news online should be held accountable and possibly brought to justice. The issue is becoming even more significant ahead of the country’s presidential election on April 10. Macron warned against the threat to democracy caused by online misinformation

By KATIE OYAN Associated Press PHOENIX (AP) — Native American communities have seen more robust news coverage in recent years, in part because of an increase in Indigenous affairs reporting positions at U.S. newsrooms and support from foundations. A Media Impact Funders report found journalism-focused philanthropy quadrupled from 2009 to 2019. An increasingly diverse population

By ANNE D’INNOCENZIO AP Retail Writer A federal labor board said that Amazon workers in a facility in Bessemer, Alabama will vote by mail next month in a re-run election to decide whether or not to unionize. The National Labor Relations Board said that the ballots will be mailed out Feb. 4 and must be

WARSAW, Poland (AP) — Poland’s prime minister has announced a second round of sales tax cuts as part of the right-wing government’s efforts to fight inflation after it reached a 21-year high last month. Premier Mateusz Morawiecki said Tuesday that the tax on engine fuels will be cut to 8% from 23% from February through

By DAVID KOENIG AP Airlines Writer After a couple dismal years, Boeing is getting more orders and delivering more airline planes. The company said Tuesday that it delivered 38 commercial planes in December and 340 for all of 2021. That’s nearly double the deliveries it made in 2020. But Airbus says it made 611 deliveries

By MATTHEW DALY Associated Press WASHINGTON (AP) — The Environmental Protection Agency is taking its first major action to address toxic wastewater from coal-burning power plants, ordering utilities to stop dumping waste into unlined storage ponds and speed up plans to close leaking or otherwise dangerous coal ash sites. The EPA says plants in four

VILNIUS, Lithuania (AP) — Taiwan will set up a $1 billion credit program aimed at funding projects by Lithuanian and Taiwanese companies amid economic pressure from China over an office that the island opened in the European Union country. Lithuanian officials announced the move Tuesday. It follows Taiwan’s announcement last week about creating a $200

LONDON (AP) — A Chinese broadcaster has been ordered to pay the English Premier League at least $213 million by the High Court in London over the collapse of the rights agreements. The league terminated the deal last year after PPTV failed to pay two installments of the rights fees owed, citing a change to

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The World Bank is downgrading its outlook for the global economy. It blames continuing outbreaks of COVID-19, a reduction in government economic support and ongoing bottlenecks in global supply chains. The 189-country, anti-poverty agency forecasts worldwide economic growth of 4.1% this year. That’s down from the

By ADAM BEAM Associated Press SACRAMENTO, Calif. (AP) — California Democrats have taken their first step toward creating a universal health care system. A legislative committee in the state Assembly advanced a bill on Tuesday that would replace California’s private insurance market with a plan paid for by the government. But the proposal is still

LONDON (AP) — One of Britain’s largest energy suppliers has apologized for advising customers to cuddle with pets or challenge children to hula hoop competitions to keep warm without turning up the heat as gas and electricity bills soar this winter. The Financial Times reported that the suggestions from Ovo Energy were in a list

NAIROBI, Kenya (AP) — Kenya’s only electricity distribution company says it is restoring power to parts of the country after a widespread blackout in East Africa’s economic hub after towers collapsed on a major transmission line. Kenya Power in a statement on Tuesday said the collapse occurred on the Kiambere-Embakasi power line. The statement did

By KEN SWEET AP Business Writer NEW YORK (AP) — Bank of America is slashing the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks. It’s the latest move by the nation’s biggest banks to roll back the fees they

By SARA RATHNER of NerdWallet The holidays are a popular time to get engaged, and that means many couples are diving into 2022 by touring wedding venues, researching vendors and carefully crafting guest lists. Planning a wedding can be a time that’s filled with emotions, expectations and the pressure to create a perfect event —

TIRANA, Albania (AP) — The Albanian government says it will hire a U.S. company to bolster its cybersecurity. Prime Minister Edi Rama said Tuesday that the country signed a memorandum of understanding with the Virginia-based Jones Group International. The infrastructure minister says Jones Group will make a “full scanning of our systems to check how

BERLIN (AP) — Germany’s new climate minister says the country faces a “gigantic” task if it wants to achieve its goals for reducing greenhouse gas emissions while ensuring sufficient energy for its energy-hungry industry. Climate Minister Robert Habeck told reporters in Berlin on Tuesday that Germany is currently on track to halve its emissions by

SOFIA, Bulgaria (AP) — Bulgaria’s health authorities say the country’s top leaders are self-isolating after being in contact with the parliamentary speaker who tested positive for the coronavirus. Officials said Tuesday that Speaker Nikola Minchev felt unwell and later tested positive for COVID-19. Minchev was present at a six-hour meeting of the country’s National Security

MADRID (AP) — A spat over factory farming is causing tension in Spain’s left-of-center coalition government. The farm minister on Tuesday described the consumer minister’s criticism of the country’s livestock industry as “very unfortunate.” Consumer Minister Alberto Garzón told British newspaper The Guardian in an interview last month that intensive cattle production is “unsustainable,” damages

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — A report based on U.S. trade data shows American companies are still importing teak from Myanmar despite sanctions imposed after the military seized power. Teak is one of the most valuable hardwoods, used in yachts, home flooring and in expensive furniture. U.S. importers were still receiving

By KELVIN CHAN AP Business Writer LONDON (AP) — The World Economic Forum says cyberthreats and the growing space race are emerging risks to the global economy, on top of existing challenges posed by climate change and the coronavirus pandemic. The Global Risks Report released Tuesday usually comes out ahead of the annual elite winter

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock markets have followed Wall Street higher after Federal Reserve chairman Jerome Powell said U.S. interest rates might be raised earlier than planned. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices edged higher. Wall Street’s benchmark S&P 500 index rose 0.9% after Powell said

By SOPHIA TAREEN Associated Press CHICAGO (AP) — Chicago scrapped classes for days in a confusing standoff with the teachers’ union over COVID-19 safety measures in the nation’s third-largest school district. From remote instruction to testing, both sides have been negotiating nearly a dozen complex points of a safety plan that has cast a shadow

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that high inflation is a serious threat to the Fed’s goal of helping put more Americans back to work, and said the Fed will raise rates more than it now plans if needed to stem surging prices. “If we

By SOPHIA TAREEN and KATHLEEN FOODY Associated Press CHICAGO (AP) — Chicago schools will offer more COVID-19 testing and have standards to close school related to infection rates, but the cost of a bitter union battle and five days of missed schools has parents and union members questioning if it was worth it. The Chicago

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — High inflation is taking a toll on American families. That acknowledgment comes from Federal Reserve Chair Jerome Powell in remarks to be delivered at a Tuesday congressional hearing, where he is sure to face tough questions on the subject. The Senate Banking Committee will hold a

By DEE-ANN DURBIN AP Business Writer A second Starbucks store near Buffalo, New York, has voted to unionize. It’s one of a growing number of the chain’s stores seeking to organize workers. Workers at the suburban Buffalo store voted 15-9 in favor of representation by Workers United, an affiliate of the Service Employees International Union.

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — The United States Mint said Monday it has begun shipping quarters featuring the image of poet Maya Angelou, the first coins in its American Women Quarters Program. Angelou, an American author, poet and Civil Rights activist, rose to prominence with the publication of “I Know Why

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Federal Reserve Vice Chair Richard Clarida said he will step down on Friday, the third Fed official to resign in the wake of a trading scandal at the central bank. The announcement followed new revelations around Clarida’s trading in a stock fund in February 2020, when