AP National Business

By KEN SWEET AP Business Writer NEW YORK (AP) — Bank of America says its fourth-quarter profits rose slightly from a year ago, as higher credit costs and potentially bad loans more than offset a sharp rise in interest revenue. The Charlotte, North Carolina-based bank said Friday that it earned a profit of $7.13 billion,

KIRUNA, Sweden (AP) — The European Union wants to bolster its capacity to launch small satellites into space with a new launchpad in Arctic Sweden. EU officials and Sweden’s King Carl XVI Gustaf inaugurated the EU’s first orbital launch complex on Friday during a visit to Sweden of the European Commission. The new facility near

By KEN SWEET AP Business Writer NEW YORK (AP) — JPMorgan Chase says its fourth-quarter profits rose 6% from a year ago, as higher interest rates helped the bank make up for a slowdown in deal-making in its investment bank. The bank also set aside more than $2 billion to cover potential bad loans and

By MATT OTT AP Business Writer Wells Fargo’s profit for the fourth quarter came in ahead of Wall Street’s targets but were about half of what it earned last year as the bank had to pay another $3.3 billion in fines and penalties to settle numerous scandals from recent years. Wells earned $2.9 billion, or

By SUZAN FRASER and JAN M. OLSEN Associated Press ANKARA, Turkey (AP) — Swedish Prime Minister Ulf Kristersson has denounced a protest by Kurds in central Stockholm where an effigy of Turkey’s president was hung from a lamppost as an act of “sabotage” against Sweden’s bid to join NATO. The protest outside City Hall on

By TOM MURPHY AP Health Writer UnitedHealth Group beat fourth quarter forecasts by adding Medicare Advantage and Medicaid enrollment and delivering more care through its surging Optum Health business. The health care giant also saw earnings jump for its Optum Rx segment, which runs prescription drug coverage as one of the nation’s largest pharmacy benefit

By MONIKA SCISLOWSKA Associated Press WARSAW, Poland (AP) — Poland’s lawmakers have voted to approve a new law on judicial accountability that the government hopes will meet European Union expectations and help unfreeze billions of euros in pandemic recovery funds for the country. Brussels suspended the aid for Poland because it says the government’s policies

BOURNEMOUTH, England (AP) — The new American owner of Premier League team Bournemouth has acquired a minority share in French club Lorient as part of what he is calling a “multi-club ownership strategy.” The Black Knight Football and Entertainment consortium fronted by Bill Foley owns the Vegas Golden Knights in the NHL and bought Bournemouth

BRUSSELS (AP) — The European Union’s border and coast guard agency says that the number of attempts by migrants to enter Europe without authorization reached around 330,000 last year. Frontex says that’s the highest number since 2016. The agency’s estimates released Friday say that almost half of the attempts were made over land through the

By MICHAEL R. SISAK Associated Press NEW YORK (AP) — Donald Trump’s company was fined $1.6 million Friday for a scheme in which the former president’s top executives dodged personal income taxes on lavish job perks — a symbolic, hardly crippling blow for an enterprise boasting billions of dollars in assets. A fine was the

By STAN CHOE and DAMIAN J. TROISE AP Business Writers NEW YORK (AP) — Stocks closed higher on Wall Street Friday to give the S&P 500 its best week in two months as earnings reporting season gets underway and CEOs begin to show how well or poorly they’re navigating high inflation and a slowing economy.

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Japan has revised the timing of a planned release to the sea of treated radioactive wastewater at the Fukushima nuclear plant to “around spring or summer,” indicating a delay from the initial target, after factoring in the progress of a release tunnel and the need to gain

By JOE McDONALD AP Business Writer BEIJING (AP) — China’s trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers. Exports increased 7% from a year earlier to $3.95 trillion, decelerating from 2021′s explosive

By YURI KAGEYAMA Associated Press CHIBA, Japan (AP) — To accelerate the global move toward sustainable vehicles, Toyota is suggesting simply replacing the inner workings of vehicles already on the roads with cleaner technology like fuel cells and electric motors. Chief Executive Akio Toyoda told reporters that he doesn’t want to leave car lovers behind.

By LARRY NEUMEISTER and JOCELYN NOVECK Associated Press NEW YORK (AP) — Smiling, fashion designer Thom Browne emerged from a New York courthouse Thursday victorious over sportswear giant Adidas in a grand battle over signature stripes. Browne told The Associated Press that he hopes the preservation of his striped designs on luxury athletic clothing and

By BECKY BOHRER Associated Press JUNEAU, Alaska (AP) — Alaska Gov. Mike Dunleavy is proposing the state capitalize on carbon markets to help shore up revenues long reliant from the proceeds from oil and gas. Dunleavy said Thursday that his administration plans to introduce what his office called a carbon management bill package during the

BOSTON (AP) — The home of the Boston Celtics and Bruins will be known as the TD Garden through 2045. TD Bank and the building’s owner, Delaware North, announced a 20-year extension for the arena naming rights. The agreement began in 2005 and had been set to expire in 2025. The bank will also be

By ADAM BEAM Associated Press SACRAMENTO, Calif. (AP) — California says it will sue the companies that make and promote much of the nation’s insulin. Democratic Attorney General Rob Bonta announced the lawsuit Thursday. The lawsuit accuses insulin manufacturers Eli Lilli, Novo Nordisk and Sanofi of keeping prices too high. It also blames pharmacy benefit

The Associated Press Wall Street closed higher after a report showed inflation slowed again last month. The S&P 500 rose 0.3% Thursday. The Nasdaq and the Dow each rose 0.6%. While the report on inflation was clearly encouraging, stocks had already rallied earlier this week in anticipation of exactly such data. Analysts warned investors not

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — The official start date of the 2023 tax filing season is Jan. 23, when the IRS will begin accepting and processing 2022 returns. The news comes after the National Taxpayer Advocate reported that the IRS watchdog is seeing “a light at the end of the tunnel” of

The Associated Press Benchmark U.S. crude oil for February delivery rose 98 cents to $78.39 a barrel Thursday. Brent crude for March delivery rose $1.36 to $84.03 a barrel. Wholesale gasoline for February delivery rose 5 cents to $2.48 a gallon. February heating oil was unchanged at $3.22 a gallon. February natural gas rose 3

NEW YORK (AP) — Major League Baseball hired a high-ranking executive from the Sinclair Broadcast Group as the sport deals with concern over the future of regional sports networks in an era of cord-cutting. Billy Chambers will start with MLB on Feb. 1 in the newly created position of executive vice president for local media.

LONDON (AP) — U.K. Prime Minister Rishi Sunak is expected to highlight the benefits of remaining in the U.K. when he meets with the Scottish leader during his first visit to Scotland since taking office. Sunak will meet for private and informal talks with Scottish First Minister Nicola Sturgeon on Thursday. Sturgeon wants to take

ANKARA, Turkey (AP) — Turkish media reports say Turkey has summoned the Swedish ambassador to convey Ankara’s displeasure after a mannequin depicting Turkish President Recep Tayyip Erdoğanwas reportedly hung outside the city hall in Stockholm. Turkish officials on Thursday described the incident as “terrorist propaganda” by supporters of the outlawed Kurdistan Workers’ Party or PKK

By MATTHEW DALY Associated Press WASHINGTON (AP) — The Republican-controlled House has voted to block oil from the country’s emergency stockpile from going to China. Republicans say the bill would help end what they call President Joe Biden’s “abuse of our strategic reserves.” Biden withdrew 180 million barrels from the reserve last year in a

By RAF CASERT and SAMUEL PETREQUIN Associated Press KIRUNA, Sweden (AP) — The European Union is thinking about injecting more subsidies into its industry to counter U.S. efforts to ramp up its green technologies sector. But fears are only increasing that the continent’s giant countries will profit at the cost of the small member states.

By SCOTT SONNER Associated Press RENO, Nev. (AP) — Organizers of the Burning Man counterculture celebration have become the latest plaintiffs challenging one of the growing number of “green energy” projects in the works in Nevada. Burning Man and four co-plaintiffs filed a lawsuit in federal court this week accusing the Bureau of Land Management

By MATT OTT AP Business Writer WASHINGTON (AP) — After two straight weekly increases, the average long-term U.S. mortgage rate came back down again this week but remains a significant hurdle for many prospective homebuyers. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.33% from 6.48% last

By KEN SWEET AP Business Writer NEW YORK (AP) — The Justice Department accused Los Angeles-based City National Bank on Thursday of discrimination by refusing to underwrite mortgages in predominately Black and Latino communities, requiring the bank to pay more than $31 million in the largest redlining settlement in department history. City National is the

MEXICO CITY (AP) — Mexico’s president says the government is in talks to persuade companies that have started lithium mining projects in Mexico to give up their plans. In 2022, Mexico nationalized lithium mining and extraction, with a state-run company having exclusive rights to mine the metal used in electric car batteries and other devices.

By SCOTT McFETRIDGE and JOSH FUNK Associated Press DES MOINES, Iowa (AP) — Thinking of lining up at the mini-mart for a shot at a $1.35 billion Mega Millions jackpot? Maybe you should first dig into your coat pockets or your car’s glove box to make sure you don’t already have a winning ticket from

SOFIA, Bulgaria (AP) — Bulgaria’s Parliament is demanding that the country’s government renegotiate the energy part of an EU-funded post-pandemic recovery plan, to save the country’s coal-fired power plants from closure. Lawmakers on Thursday voted 187-2 with nine abstentions to approve a revision of the plan, which is key to receiving 6.3 billion euros in

LONDON (AP) — Virgin Orbit said Thursday its first attempt to launch satellites into orbit from the U.K. failed after its rocket’s upper stage prematurely shut down. The U.S.-based company used a modified Boeing 747 plane to carry one of its rockets from Cornwall in southwestern England over the Atlantic Ocean on Monday. The plane

By DAVID KOENIG and TOM KRISHER AP Business Writers U.S. air travel has returned mostly to normal, a day after a computer system that sends safety information to pilots broke down and grounded traffic from coast to coast. By early afternoon Thursday on the East Coast, only about 100 flights had been canceled and 1,700

By LEANNE ITALIE Associated Press NEW YORK (AP) — Love her or loathe her, Barbie has been transformed again, this time into a version for children as young as 3. Gone is the contentious hourglass figure for My First Barbie, which launched Thursday ahead of July’s live-action film about the icon starring Margot Robbie and

By MICHELLE CHAPMAN AP Business Writer Activist investor Nelson Peltz is fighting for a seat on the board of Walt Disney Co., claiming that the theme park and media company is struggling with self-inflicted problems. Peltz’s attempt to join Disney’s board comes just months after the company brought back longtime CEO Bob Iger to lead

By MATT OTT AP Business Writer WASHINGTON (AP) — U.S. applications for unemployment benefits fell last week to their lowest level in 15 weeks as the job market continues to show resiliency in the face of the Federal Reserve’s attempts to cool the economy. The number of Americans applying for jobless aid for the week

By STAN CHOE AP Business Writer NEW YORK (AP) — The biggest companies have less of a stranglehold on the stock market — and likely on your 401(k). The 10 most valuable U.S. stocks now account for less than a quarter of the S&P 500, the lowest proportion since the pandemic began reordering the economy

By ANDREW MELDRUM Associated Press KYIV, Ukraine (AP) — Russia says its forces are edging closer to capturing a salt-mining town in eastern Ukraine. Capturing the town of Soledar would mark an elusive victory for the Kremlin but come at the cost of heavy Russian losses and extensive destruction of the territory they claim. A

BERLIN (AP) — The European Union’s highest court says travelers whose package tours were ruined by the imposition of restrictions to combat the COVID-19 pandemic may be entitled to at least a partial refund. The European Court of Justice weighed in on Thursday after being asked for its opinion by a court in Germany. The

By SAMUEL PETREQUIN Associated Press KIRUNA, Sweden (AP) — The beginning of the end of Europe’s dependency on China for precious rare earth materials may lie buried deep under the rugged reaches of northern Sweden, well above the Arctic Circle. Sweden’s iron-ore miner LKAB said Thursday it has identified “significant deposits” in Lapland of rare

By JENNIFER PELTZ Associated Press NEW YORK (AP) — Thousands of nurses at two New York City hospitals have ended a three-day strike after reaching a tentative contract agreement. Union officials say it will relieve chronic short staffing and boost pay by 19% over three years. Nurses began returning to work at Mount Sinai Hospital

TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, says its quarterly profit rose 78% over a year earlier but forecast weak demand this year. Revenue for the three months ending in December rose 43% to 625.5 billion New Taiwan dollars ($20.6 billion). Profit

By JOE McDONALD AP Business Writer BEIJING (AP) — An industry group says China’s auto sales rose 9.5% in 2022 as electric vehicle purchases nearly doubled, but demand slumped in December, foreshadowing weaker growth this year. The China Association of Automobile Manufacturers says sales of SUVs, sedans and minivans in 2022 rose to 23.6 million.

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Shares advanced Friday in Asia after news that U.S. consumer inflation slowed last month pushed Wall Street benchmarks higher. Tokyo’s Nikkei 225 index fell 1% to 26,174.88 on speculation that the Bank of Japan might relent and tighten its ultra-loose monetary policy as the yield on

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Inflation declined to 6.5% in December compared with a year earlier,

By MICHAEL LIEDTKE AP Technology Writer SAN FRANCISCO (AP) — Lawyers for Tesla shareholders suing the electric vehicle maker’s CEO Elon Musk over a misleading tweet are urging a federal judge to reject the billionaire’s request to move an upcoming trial to Texas from California. Musk contends he will be treated unfairly by potential jurors

FRISCO, Texas (AP) — Universal Parks & Resorts is bringing a theme park to Texas that will focus on entertaining young children. Officials announced Wednesday that the new park will be built in the Dallas suburb of Frisco. The company says the park will include attractions, interactive shows and opportunities for meet-and-greets with characters. The

By ADRIANA MORGA Associated Press LAS VEGAS (AP) — Pet tech made itself present at this year’s CES tech show in Las Vegas. Gadgets for furry friends included a kitty litter box that automatically cleans itself to buttons designed to allow your dog to communicate with you. While some of the products are already available

By TOM KRISHER and DAVID KOENIG Associated Press DALLAS (AP) — Until Wednesday, few travelers had ever heard of a Notice to Air Missions, or NOTAM, nor did they know that the system used to generate those notices could cause widespread travel misery. As they arrived at airports in the morning, they quickly found out.

SANFORD, Fla. (AP) — A Florida-bound Amtrak passenger train that started in Virginia was delayed for almost a day by the derailment of a freight train and a crew change, stranding hundreds of passengers in rural South Carolina for hours with few options. The trip on the southbound Amtrak auto train which departed Monday evening

The Associated Press Stocks closed higher on Wall Street as investors made their final moves ahead of a highly anticipated report on inflation. The S&P 500 rose 1.3% Wednesday, its second straight gain before Thursday morning’s inflation data. The Nasdaq and the Dow also rose. Economists expect the report to show that inflation continued to

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Wells Fargo & Co., up 38 cents to $42.74. The bank said it will shrink its home mortgage business. World Wrestling Entertainment Inc., down 74 cents to $89.50. Stephanie McMahon resigned as chairwoman and co-CEO of the professional wrestling events and

By RANDALL CHASE AP Business Writer DOVER, Del. (AP) — The judge presiding over the bankruptcy of cryptocurrency exchange FTX Trading is allowing the company to maintain a veil of secrecy over the names of individual customers and creditors. The judge ruled Wednesday that FTX could withhold the names from public disclosure for another three

By VLADIMIR ISACHENKOV Associated Press MOSCOW (AP) — Russia’s top military officer has been put in charge of troops fighting in Ukraine on Wednesday. It’s a move that appears to reflect the Kremlin’s dissatisfaction with the current leadership and flaws in the military’s performance. Russia’s Defense Ministry said Wednesday that Gen. Valery Gerasimov was named

MEXICO CITY (AP) — Mexico’s president has lauded investments from Canada and says he will meet with Canadian companies that may have a problem with his energy policies. President Andrés Manuel López Obrador commented Wednesday after a private meeting with his Canadian counterpart, Prime Minister Justin Trudeau. Their session came on the heels of the

The Associated Press Benchmark U.S. crude oil for February delivery rose $2.29 to $77.41 a barrel Wednesday. Brent crude for March delivery rose $2.57 to $82.67 a barrel. Wholesale gasoline for February delivery rose 10 cents to $2.43 a gallon. February heating oil rose 8 cents to $3.22 a gallon. February natural gas rose 3

By MEGAN JANETSKY Associated Press MIAMI (AP) — Western Union says it has resumed remittance services between the U.S. and Cuba in a limited capacity after two years of the essential economic lifeline being severed. The step could offer Cuban families key economic support during a time of record economic crisis in the Caribbean nation,

By JOEY CAPPELLETTI Associated Press LANSING, Mich. (AP) — Michigan Democratic Gov. Gretchen Whitmer will travel to Europe next week for a five-day trip. It will include stops in Norway and Switzerland, where Whitmer will meet with other leaders at the World Economic Forum’s annual meeting in Davos. Whitmer is expected to promote the state’s

PONTIAC, Mich. (AP) — Electric vehicles took two of three categories for the first time in this year’s North American Car, Truck and Utility of the Year awards. Ford’s F-150 Lightning electric pickup won the truck category, while Kia’s EV6 battery-powered EV was named the top SUV. The Integra, a small sedan from Honda’s Acura

By TIM REYNOLDS AP Basketball Writer MIAMI (AP) — The naming rights deal between FTX and Miami-Dade County has been terminated by a federal bankruptcy court. The move allows the collapsed cryptocurrency exchange’s brand to be stripped from the arena where the NBA’s Miami Heat play. The order means that before long all FTX signage

By JOSH DUBOW AP Pro Football Writer Returning a kick or punt for a touchdown has never been rarer in the NFL with one coming on average every 30 games. So when there’s a moment like there was Sunday when Nyheim Hines electrified the crowd in Buffalo with not one but two kickoff return scores

LONDON (AP) — Britain’s postal service says it has been hit by a “cyber incident” that’s temporarily preventing it from sending letters or parcels to other countries. Royal Mail reported on its website Wednesday that international export services are “experiencing severe service disruption” without providing further details. The company said it’s “temporarily unable to dispatch

By THALIA BEATY Associated Press The film “Devotion” reignited efforts to repatriate the remains of Jesse Brown, America’s first Black Navy pilot, who died in 1950 after having to crash land his damaged plane during the Korean War. Fred Smith, the founder of Memphis-based FedEx, financed the film about Brown because he thought Brown deserved

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging. Most economists penciled in a recession for 2023. An economic downturn is still possible. Yet in recent weeks, with inflation showing

By MICHELLE CHAPMAN AP Business Writer The Walt Disney Co. is making several changes at its domestic theme parks in order to improve the public perception of its business. Among the changes: it will cease charging for overnight self-parking at its Walt Disney World resorts; Walt Disney World annual passholders will be able to visit

By DEE-ANN DURBIN AP Business Writer Thousands of travelers were stranded at U.S. airports due to an hours-long computer outage. If a flight is canceled, experts say most airlines will rebook you on the next available flight. But if you choose to cancel the trip, airlines must provide you with a full refund. If your

By MANU FERNÁNDEZ and JOSEPH WILSON Associated Press MADRID (AP) — Farmers from southeastern Spain have protested against a government order to provide ecological protection for a river. They see it as a threat to  water resources they need for irrigating crops. Several thousand protesters rallied in front of Spain’s ministry for ecological transition. The

By LORNE COOK Associated Press BRUSSELS (AP) — A European Parliament official says the president of the EU assembly wants to clamp down on the activities of former lawmakers and lobbyists in response to a major corruption scandal. The move would prevent lawmakers from representing businesses or governments soon after their term ends. The official

By ANDREW MELDRUM Associated Press KYIV, Ukraine (AP) — The fate of a devastated salt-mining town in eastern Ukraine hung in the balance Wednesday in one of the bloodiest battles of Russia’s invasion, while Ukraine’s unflagging resistance and other challenges prompted Moscow to shake up its military leadership again. Russian forces used jets, mortars and

BERLIN (AP) — More than 244,000 people have applied for asylum in Germany last year and more than 1 million Ukrainian refugees who have come to the country looking for shelter from Russia’s war. The German government said Wednesday that the No. 1 country of origin for asylum-seekers was Syria followed by Afghanistan, Turkey and

By SYLVIA HUI Associated Press LONDON (AP) — Around 25,000 U.K. ambulance workers went on strike Wednesday, walking out for the second time since December in an ongoing dispute with the government over pay. The industrial action by paramedics, drivers and call handlers was the latest in a wave of strikes in recent months that

By RONALD MONTOYA Edmunds CES in Las Vegas gives us a glimpse of where automakers believe vehicles are headed in the future. Edmunds attended this year and reports on the most notable vehicles and what new technology car shoppers might see in the coming years.  Here are a few near-term trends we spotted, including a

By HAL M. BUNDRICK of NerdWallet If you’re looking for a job or aiming to get a raise this year, a new factor may come into play. It’s called pay transparency, a growing trend for companies to reveal what a job opening or current position pays. While it typically reveals salary ranges — rather than