AP National Business

WASHINGTON (AP) — In a story published October 14, 2022, about a request from SpaceX and Tesla CEO Elon Musk that the Defense Department take over funding for his satellite network that has provided battlefield communications for Ukrainian military forces, The Associated Press erroneously identified Musk as the founder of the electric vehicle maker.

By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus (AP) — The European Union’s energy commissioner says natural gas from undersea deposits in the eastern Mediterranean can help replace Russia’s supply of the fossil fuel to Europe. Commissioner Kadri Simson told a conference in the Cypriot capital, Nicosia, on Friday that the region can play an increasingly

BERLIN (AP) — German Chancellor Olaf Scholz says his country wants to strengthen ties to Mongolia, citing the country’s wealth of key commodities such as copper and rare earth metals. Speaking after a meeting in Berlin Friday with Mongolia’s prime minister, he said the two leaders had agreed to “deepen and also expand cooperation between

By JEFF AMY Associated Press ATLANTA (AP) — Workers have begun loading radioactive fuel into a new nuclear reactor in Georgia. The announcement Friday by utilities means the first new nuclear reactor built in decades in the United States is on track to begin generating electricity in coming months. Georgia Power says workers will transfer

MADRID (AP) — European Union police agency Europol says Spanish police have dismantled an organized crime group believed to have been running Europe’s biggest “narco-bank,” used to launder the proceeds from drug trafficking. Europol says the group, composed mainly of Syrians, operated out of a Spanish town and provided financial services to gangs linked to

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Retail sales were flat last month, down from a revised. 0.4% growth in August. The Commerce Department

By GLENN GAMBOA AP Business Writer NEW YORK (AP) — Dolly Parton proudly accepted the Carnegie Medal of Philanthropy at Gotham Hall Thursday night, saying she was “proud and honored to be a part of anything that is going to make the world a better place.” The country superstar was celebrated along with Dallas entrepreneur

By GLENN GAMBOA AP Business Writer NEW YORK (AP) — Dolly Parton laughs at the idea that she is some sort of secret philanthropist. Sure, social media sleuths did piece together this week that the country superstar had been quietly paying for the band uniforms of many Tennessee high schools for years. And yes, it

By MATT OTT AP Business Writer WASHINGTON (AP) — Wells Fargo easily beat Wall Street’s third-quarter revenue forecasts as higher interest rates helped offset a steep decline in home lending. The nation’s biggest mortgage lender brought in $19.5 billion in revenue for the period, thanks to $12.1 billion in net interest income, a 36% increase

By KEN SWEET AP Business Writer NEW YORK (AP) — JPMorgan Chase & Co.’s third quarter profits fell by 17% from a year earlier, as the bank set aside roughly a billion dollars to cover potential losses in what CEO Jamie Dimon has said a could be a recession in six to nine months. While

By MICHELLE CHAPMAN AP Business Writer The Beyond Meat executive charged with biting a man’s nose during a fight last month has left the plant-based meat company. The El Segundo, California, company said in a regulatory filing that its Chief Operating Officer Doug Ramsey left Beyond Meat on Friday. Beyond Meat had suspended Ramsey last

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — What keeps driving inflation so high? The answer, it seems, is nearly everything. Supply chain snarls and parts shortages inflated the cost of factory goods when the economy rocketed out of the pandemic recession two years ago. Then it was a surge in consumer spending fueled

By TOM MURPHY AP Health Writer UnitedHealth trumped third-quarter expectations and hiked its 2022 forecast again as one of the largest U.S. health insurance providers moved deeper into delivering care. The health care giant said Friday that it booked 17% revenue growth from its Optum segment, which runs doctors offices and clinics as well as

By DAVID PITT Associated Press DES MOINES, Iowa (AP) — The U.S. Department of Agriculture on Friday proposed sweeping changes in the way chicken and turkey meat is processed that are intended to reduce illnesses from food contamination but could require meat companies to make extensive changes to their operations. Despite decades of efforts to

By COLLEEN LONG Associated Press IRVINE, California (AP) — President Joe Biden is highlighting his administration’s efforts to lower prescription drug costs on Friday as part of his three-state Western tour this week, as he confronts a sobering inflation report in the waning weeks before midterm elections.Biden visited a community college in Irvine, California, to

By SUZAN FRASER Associated Press ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan says Turkey and Russia have instructed their respective energy authorities to immediately begin technical studies on a Russian proposal that would turn Turkey into a gas hub for Europe. Russian President Vladimir Putin has floated the idea of exporting more gas

By DANICA KIRKA and JILL LAWLESS Associated Press LONDON (AP) — Embattled British Prime Minister Liz Truss sacked her Treasury chief and reversed course on a major part of her tax-cutting economic plan Friday as she struggled to hang on to her job after weeks of turmoil on financial markets. But the market response was

By SYLVIA HUI Associated Press LONDON (AP) — A former power station on the bank of the River Thames that was left derelict for decades has opened after a 9 billion-pound ($10 billion) redevelopment turning the south London site into a new attraction complete with shops, bars and hundreds of apartments. The coal-fired Battersea Power

By RANDALL CHASE Associated Press DOVER, Del. (AP) — A lawyer for billionaire Elon Musk had barely begun speaking during a recent hearing when the Delaware judge presiding over Twitter’s lawsuit against Musk abruptly cut her off. “Skip the rhetoric and go to the meat,” Chancellor Kathaleen St. Jude McCormick said bluntly. The judge’s tone

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier. A report

By LARRY NEUMEISTER Associated Press NEW YORK (AP) — The fate of Nikola Corp ’s founder will be in the hands of a jury after he was portrayed Thursday in closing arguments by a prosecutor as a habitual liar, and by his lawyer as an inspiring visionary being unjustly prosecuted. Trevor Milton, 40, has pleaded

The Associated Press Benchmark U.S. crude oil for November delivery rose $1.84 to $89.11 a barrel Thursday. Brent crude for December delivery rose $2.12 to $94.57 a barrel. Wholesale gasoline for November delivery rose 7 cents to $2.70 a gallon. November heating oil rose 16 cents to $4.09 a gallon. November natural gas rose 30

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — More than 9 million people and families who did not receive their advance child tax credit checks, stimulus payments and other tax rebates will soon get a letter from the IRS to claim their money. The tax credit was originally offered through President Joe Biden’s $1.9 trillion

By MARCY GORDON AP Business Writer WASHINGTON (AP) — Facebook parent Meta struck back in its legal battle with federal regulators over its proposed acquisition of virtual-reality company Within Unlimited and its fitness app Supernatural. Meta asked a federal court in San Jose, California, to dismiss the Federal Trade Commission’s request in July for an

The Associated Press Wall Street staged its biggest comeback in years as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation. The S&P 500 jumped 2.6% Thursday, a stunning reversal after earlier being down as much as 2.4% and touching its lowest level in nearly two years. The Dow and

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Domino’s, Duck Creek rise; Relmada, A.O. Smith fall.

By HALELUYA HADERO AP Business Writer NEW YORK (AP) — Amazon said Thursday its Prime members ordered more than 100 million items during a sales event this week that analysts are expecting to be a bellwether for the holiday shopping season. As expected, the company did not share sales figures from the discount event. Still,

By KAREEM CHEHAYEB Associated Press BEIRUT (AP) — Lebanon has approved a U.S.-mediated maritime border demarcation proposal with Israel. President Michel Aoun on Thursday announced the cash-strapped country’s approval after meeting with caretaker Prime Minister Najib Mikati and Speaker Nabih Berri. “This indirect agreement responds to Lebanese demands and maintains all our rights.” Aoun said.

By DÁNICA COTO Associated Press SAN JUAN, Puerto Rico (AP) — The National Science Foundation announced Thursday that it will not rebuild a renowned radio telescope in Puerto Rico, which was one of the world’s largest until it collapsed nearly two years ago. Instead, the agency issued a solicitation for the creation of a $5

BERLIN (AP) — German federal prosecutors are taking charge of the investigation into the suspected sabotage of a railway communication system that brought trains to a standstill Saturday across northwestern Germany. The federal prosecutors office said Thursday it is taking over the probe from state investigators due to the gravity of the case. Officials said

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — An activist investor that has been pressing department chain Kohl’s to make changes to turn around its business is now upping the ante.Macellum Advisors GP, LLC, which has nearly 5% of the outstanding common shares of Kohl’s, is pushing the company to oust some of

By NINIEK KARMINI Associated Press JAKARTA, Indonesia (AP) — Indonesia’s leader has launched the country’s first home-grown COVID-19 shot. President Joko Widodo announced that IndoVac includes primary series vaccines, boosters and vaccines for children. During an unveiling ceremony, 15 residents who had not received any COVID-19 vaccine got their first IndoVac jabs. Indonesia’s Food and

Associated Press Samsung Electronics has been granted an exception that will allow it to continue to temporarily maintain its memory-chip production facilities in China after the U.S. announced last week it’s tightening export controls to limit China’s ability to get advanced computing chips, according to a Biden administration official. The official, who was not authorized

By MELISSA MURPHY AP Sports Writer NEW YORK (AP) — Angel City FC founding investor Alexis Ohanian is calling for a safe work environment in the National Women’s Soccer League. The former executive chairman of Reddit and husband of Serena Williams is this year’s recipient of the Champions for Equality Award from the Women’s Sports

By CORA LEWIS Associated Press NEW YORK (AP) — Tens of millions of older Americans will see a major increase in benefits this January when a new cost-of-living adjustment (or COLA) is added to Social Security payments. The increase is not expected to have a big impact on the trust that funds Social Security. That

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely climb further as the Federal Reserve all but promised more rate increases as it tries to tamp down inflation. Mortgage buyer Freddie Mac reported Thursday that the

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — The lack of some benefits most American workers can readily count on, like paid sick leave and regularly scheduled weekends, is driving some railroad workers to veto contracts that include hefty raises and $5,000 bonuses. This week’s vote by the third-largest railroad union against their

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The managing director of the International Monetary Fund urged global policymakers to stop inflation from becoming “a runaway train″ at a time of extraordinary economic turmoil. The IMF’s Kristalina Georgieva noted that the world economy “has been hit by one shock after another″ — the coronavirus

BERLIN (AP) — Germany wants to introduce a public transit pass that costs 49 euros ($47) a month and will be valid nationwide. The proposal follows on from a wildly successful “9-euro ticket” in Germany for three months this summer as part of efforts to help people switch to environmentally friendly transport. One of its

By TOM MURPHY AP Health Writer Walgreens Boots Alliance topped earnings forecasts in the final quarter of fiscal 2022, and the drugstore chain’s early look at 2023 also fell mostly above expectations. A drop in COVID-19 vaccinations and a big charge tied to the company’s United Kingdom stores weighed on results, but shares edged up

BERLIN (AP) — Former German Chancellor Angela Merkel has defended decisions made during her tenure to buy natural gas from Russia. Speaking in Lisbon Thursday, Merkel said “you always act in the time you are in” and that she doesn’t regret decisions she made. She said that it was clear that Germany needed to diversify

STOCKHOLM (AP) — Swedish home furnishings giant IKEA says that despite “unprecedented challenges” caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an “exceptional year.” IKEA on Thursday reported a 5.6% increase in retail sales this financial year. The chief executive of the

By MATT OTT AP Business Writer WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose slightly last week but remains historically low even as the U.S. economy slows in the midst of decades-high inflation. Jobless claims for the week ending Oct. 8 rose by 9,000 to 228,000, the Labor Department reported Thursday.

By JOE McDONALD Associated Press BEIJING (AP) — The Chinese government has accused Washington of “Cold War thinking.” The government appealed for efforts to repair strained relations after President Joe Biden released a national security strategy that calls for “out-competing China” and blocking its efforts to reshape global affairs. The foreign ministry also accused Washington

LISBON, Portugal (AP) — A prize worth 1 million euros ($970,000) is being awarded to two intergovernmental bodies for their work on climate change. Organizers of the annual Gulbenkian Prize for Humanity announced Thursday that this year’s winners are the Intergovernmental Panel on Climate Change and the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services.

By DITA ALANGKARA Associated Press BANDUNG, Indonesia (AP) — Indonesia is preparing to start Southeast Asia’s first high-speed rail service that will cut travel time between two cities from the current three hours to about 40 minutes. The railway line will connect Indonesia’s capital Jakarta and Bandung, the heavily populated capital of West Java province.

MADRID (AP) — Spanish Prime Minister Pedro Sánchez has announced 3 billion euros in subsidies to help people weather high gas and electricity prices exacerbated by Russia’s invasion of Ukraine. The measures include set gas price rates for collective residential heating systems and more subsidies for electricity and heating for low income how households. Sánchez

By DANICA KIRKA and JILL LAWLESS Associated Press LONDON (AP) — Britain’s Treasury chief has rejected suggestions that the Conservative government would reverse course on economic plans that have roiled financial markets. The comments came even after Prime Minister Liz Truss faced widespread criticism from her own lawmakers during a closed-door meeting. Treasury chief Kwasi

PARIS (AP) — French gas network operator GRTgaz says it has started conveying gas to Germany via pipeline for the first time, as Berlin strives to diversity its energy sources. GRTgaz said Thursday the pipeline connecting both countries at the French border village of Obergailbach has begun delivering an initial daily capacity of 31 gigawatt-hours.

By SARAH EL DEEB, ANASTASIIA SHVETS and ELIZAVETA TILNA Associated Press An Associated Press investigation has found that Russia’s strategy to take Ukrainian orphans and bring them up as Russian is well underway. It’s one of the war’s most explosive issues. The investigation drew on interviews with parents, officials and children in Ukraine and Russia.

By SARAH EL DEEB, ANASTASIIA SHVETS and ELIZAVETA TILNA Associated Press Olga Lopatkina paced around her basement in circles like a trapped animal. For more than a week, the Ukrainian mother had heard nothing from her six adopted children stranded in Mariupol, and she was going out of her mind with worry. The kids had

By GLENN GAMBOA AP Business Writer Ms. Foundation for Women’s new Birth Justice Initiative, designed to support grassroots organizations led by Black, Indigenous and other women of color as they advance more equitable birth outcomes in the country, is already making a difference for nonprofits serving pregnant women. Sona Smith, Ms. Foundation’s Birth Justice program

COPENHAGEN, Denmark (AP) — A bomb threat against an gas processing facility in central Norway briefly forced the suspension of the production and the evacuation of workers from the site . Police said Thursday that there was ”no evidence that the bomb threat against the Ormen Lange facility was real.” The incident came amid heighten

By JOSH BOAK and COLLEEN LONG Associated Press WASHINGTON (AP) — The White House is hosting a summit to help speed up construction projects tied to the roughly $1 trillion infrastructure law. It’s an effort to improve coordination with the mayors and governors who directly account for 90% of the spending. White House infrastructure coordinator

By LORNE COOK Associated Press BRUSSELS (AP) — NATO Secretary-General Jens Stoltenberg says Russia would be crossing a “very important line” if it used nuclear weapons in Ukraine. His remarks Thursday came after a meeting of NATO’s secretive Nuclear Planning Group. It was held as the alliance presses ahead with plans to hold a nuclear

By SABRA AYRES Associated Press KYIV, Ukraine (AP) — Ukraine’s allies vowed Thursday to supply the besieged nation with advanced air defense systems as Russian forces attacked the Kyiv region with kamikaze drones and fired missiles elsewhere at civilian targets, payback for the bombing of a strategic bridge linking Russia with annexed Crimea. Missile strikes

By FRANCES D’EMILIO Associated Press ROME (AP) — With its dozens of “revolving door” governments, Italy might give the impression that carving out new ruling coalitions is quick work. But the process can take weeks, even months. On Thursday, when newly elected lawmakers took their seats, the work of giving the country a new government

By JON GAMBRELL Associated Press DUBAI, United Arab Emirates (AP) — Saudi Arabia says that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies — including Russia — to cut oil production. OPEC announced the cuts on Oct. 5. A delay could have helped reduce the risk of a

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock markets surged Friday after Wall Street rebounded from a slump caused by worse-than-forecast inflation numbers. Japan’s market benchmark soared by an unusually wide margin of 3.4%. Hong Kong gained 3.3% and Shanghai also rose. Benchmark U.S. crude oil rose more than $2 per barrel.

By DEEPTI HAJELA Associated Press NEW YORK (AP) — It’s becoming clearer that New York City’s recovery from the pandemic will be drawn out and that some aspects of the city’s economic ecosystem could be changed for good. More workers returned to their offices as the summer ended. But those limited numbers mean continued hardship

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains and ensuring that the Federal Reserve will keep raising interest rates aggressively. Consumer prices, excluding volatile food and energy costs, jumped 6.6%

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — A new electric car company that brings together two big names in Japanese business, Honda and Sony, has officially kicked off. The companies say they share common values of taking up challenges and serving people’s needs. The electric vehicle from Sony Honda Mobility will go on

By JOE McDONALD AP Business Writer BEIJING (AP) — President Xi Jinping, China’s most influential figure in decades, gets a chance to install more allies who share his vision of an even more dominant role in the economy for the ruling Communist Party and tighter control over entrepreneurs at a party meeting that starts this

The Associated Press Stocks ended a wobbly day lower on Wall Street after a late-afternoon drop erased the tentative gains major indexes had been clinging to for much of the day. The S&P 500 gave back 0.3% Wednesday, its sixth consecutive loss. The Dow and Nasdaq ended with smaller losses. Yields on the 2-year and

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: PepsiCo, Moderna rise; Cameco, Owens & Minor fall.

By ALEXANDRA OLSON AP Business Writer NEW YORK (AP) — The federal labor board has scheduled a November vote on a petition from Home Depot workers in Philadelphia to form what could be the first storewide union at the world’s largest home improvement retailer. The National Labor Relations Board said Wednesday the vote will take

SAN JUAN, Puerto Rico (AP) — A federal judge has approved a plan to restructure some $6 billion of debt held by Puerto Rico’s Highways and Transportation Authority as the U.S. territory emerges from bankruptcy. The plan approved Wednesday saves Puerto Rico more than $3 billion in debt service payments, according to a federal control

By DAVID BAUDER AP Media Writer NEW YORK (AP) — CNN is launching its new morning show a week before the midterm elections, before a new set is even built, to try and take advantage of an expected bump in viewership at the time. The show will debut in temporary quarters in New York on

The Associated Press Benchmark U.S. crude oil for November delivery fell $2.08 to $87.27 a barrel Wednesday. Brent crude for December delivery fell $1.84 to $92.45 a barrel. Wholesale gasoline for November delivery was unchanged at $2.63 a gallon. November heating oil was unchanged at $3.93 a gallon. November natural gas fell 16 cents to

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — Federal Reserve officials at their last meeting stressed their commitment to taming “unacceptably high’’ inflation before announcing that they were raising their benchmark interest rate by a substantial three-quarters of a point for a third straight time and signaling more large rate hikes ahead. In minutes

By SUSAN HAIGH Associated Press HARTFORD, Conn. (AP) — The Republican candidate for governor in Connecticut has acknowledged for the first time that he has been a consultant for a proposed futuristic city in Saudi Arabia, backed by the powerful Saudi Crown Prince Mohammed bin Salman. The confirmation, first included in an article published Wednesday

MONTREAL (AP) — A Hydro-Quebec subsidiary is buying a company that operates 13 hydropower generating stations in Vermont, New Hampshire and Massachusetts. HQI US Holding LLC’s $2 billion purchase of Great River Hydro LLC and its dams that produce 589 megawatts of electricity will provide Hydro-Quebec with the largest hydropower operation in New England. Hydro-Quebec

By JONATHAN MATTISE Associated Press NASHVILLE, Tenn. (AP) — Republican-led Tennessee will officially take its voters’ temperature on an organized labor issue in November, as unions sprout in Starbucks storefronts and elsewhere nationally. Lawmakers there have offered a ballot amendment asking voters whether Tennessee’s existing ban on workplaces with union shops requiring covered employees to

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen is seeking to project confidence in the U.S. financial outlook while pledging vigilance in responding to “risks on the horizon.” She’s offering that message as global finance leaders gather in Washington to discuss the increasingly dismal view of the global economy. Yellen

By FRANK JORDANS Associated Press BERLIN (AP) — A Ukrainian nuclear power plant that has been surrounded by Russian forces lost power Wednesday morning when a Russian missile damaged a distant electrical substation, increasing the risk of radiation disaster, according to the plant’s operator. The power to Zaporizhzhia Nuclear Power Plant was restored about eight

MENLO PARK, Calif. (AP) — Why is it so hard to build a metaverse avatar — a visual representation of ourselves in the digital world — that walks on two legs? A cartoonish digital version of Meta CEO Mark Zuckerberg unveiled his new avatar legs and jumped up and down at a virtual-reality event Tuesday.

By JOSH BOAK and EMILY SWANSON Associated Press WASHINGTON (AP) — More U.S. adults are now feeling financially vulnerable amid high inflation — a political risk for President Joe Biden and his fellow Democrats one month before the midterm elections. Some 46% of people now call their personal financial situation poor, up from 37% in

By ERIC TUCKER Associated Press WASHINGTON (AP) — A federal judge has dismissed a Justice Department lawsuit that sought to force longtime casino developer Steve Wynn to register as a foreign agent. At issue was lobbying work that the department said he conducted at the behest of the Chinese government during the Trump administration. In

Associated Press CHICAGO (AP) — A specialist in plastic waste management, artists, musicians, computer scientists, and a poet-ornithologist who advocates for Black people in nature are among this year’s 25 winners of the John D. and Catherine T. MacArthur Foundation’s prestigious fellowships known as “genius grants” that honor discipline-bending and society-changing people whose work offers

By THALIA BEATY Associated Press The winners of the MacArthur Foundation’s prestigious fellowship this year include a waste management engineer, an ornithologist and writers, physicians and mathematicians. The Chicago-based foundation announced 25 new recipients of its “genius grants” on Wednesday and said it was increasing the award amount to $800,000 over five years. Marlies Carruth,

By THALIA BEATY Associated Press The Seattle-based Fred Hutchinson Cancer Center announced a $710 million gift from the Bezos family. It’s the largest gift the center has ever received and one of the largest to go to any single cancer research organization in recent years. The center said Wednesday the donation will fund 36 new

By DEE-ANN DURBIN AP Business Writer PepsiCo raised its full-year revenue and earnings forecast Wednesday after a stronger-than-expected third quarter sales driven by higher prices. The Purchase, New York-based snack and drink maker said its sales volumes were down 1% from the July-September period a year ago. But pricing surged 17%. PepsiCo said it’s trying

By STAN CHOE AP Business Writer NEW YORK (AP) — Tens of millions of older Americans are getting the biggest raise of their lifetimes.  The U.S. says Social Security beneficiaries will see an 8.7% increase in monthly payments this upcoming year. That’s the largest increase in four decades. The boost is meant to allow beneficiaries