AP National Business

DETROIT (AP) — Ford says it has contracts to deliver enough batteries to produce electric vehicles at a rate of 600,000 globally per year by late in 2023. The company says Thursday that Contemporary Amperex Technology Co. of China will supply new lithium-iron phosphate batteries starting next year. The deal is in addition to a

PHILADELPHIA (AP) — The Philadelphia 76ers are taking the first steps toward building a privately-funded sports and entertainment arena. The team’s managing partners on Thursday announced the creation of a new development company to create its future home in the city’s Fashion District. They say 76 Place is anticipated to cost about $1.3 billion. Josh

By DAVID KOENIG AP Airlines Writer DALLAS (AP) — American Airlines is reporting a $476 million profit for the second quarter as summer travelers pack planes. It was American’s first profit without government pandemic aid in the COVID-19 era. American said Thursday that it achieved record revenue of more than $13 billion in the second

By MARIA CHENG AP Medical Writer LONDON (AP) — As the World Health Organization’s emergency committee convened Thursday to consider for the second time within weeks whether to declare monkeypox a global crisis, some scientists said the striking differences between the outbreaks in Africa and in developed countries will complicate any coordinated response. African officials

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The European Central Bank has raised interest rates for the first time in 11 years by a larger-than-expected amount. It’s joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The ECB’s surprise hike Thursday of

MADRID (AP) — Europe’s spate of fierce wildfires is abating somewhat amid cooler temperatures but a fire in Slovenia on the border with Italy has kicked up strongly, forcing the evacuation of three villages. French firefighters were starting to get the upper hand Thursday over two major blazes while Spain tamed a fire that killed

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Reports by the World Bank and other experts say army-ruled Myanmar’s economy remains fragile as civil strife, inflation and onerous policy decisions add to troubles facing farmers and businesses. The World Bank said Thursday that while conditions have improved since last year, the country “remains a

By JILL LAWLESS Associated Press LONDON (AP) — The two candidates to become Britain’s next prime minister have begun a head-to-head battle for the votes of Conservative Party members who will choose the country’s new leader. Former Treasury chief Rishi Sunak is promising fiscal prudence. Foreign Secretary Liz Truss is offering immediate tax cuts to

HELSINKI (AP) — Wireless and fixed-network equipment maker Nokia has reported second-quarter profit above analyst expectations on strong demand for 5G technology from phone operators and improved competitiveness of its main business units. The Espoo, Finland-based company reported net profit of 585 million euros ($597 million) on Thursday for the April-June period compared with 539

By NICOLE WINFIELD and FRANCES D’EMILIO Associated Press ROME (AP) — Italy is headed for an early election after its president accepted Premier Mario Draghi’s resignation and decided there was no possibility for cobbling together another government. The election was set for Sept. 25. The demise of Draghi’s coalition and the uncertainty of what Italian

By The Associated Press The message to U.S. lawmakers from Ukraine’s first lady, delivered amid stark and graphic images of civilian bloodshed, couldn’t have been clearer: After nearly five full months since Russia launched its invasion, Olena Zelenska said that her country needs more Western weapons. Ukrainian President Volodymyr Zelenskyy sent her to Washington to

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Asian shares were mostly higher on Friday after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits. Tokyo, Hong Kong and Sydney advanced while Seoul and Shanghai declined. U.S. futures edged lower while oil prices

YURI KAGEYAMA AP Business Writer TOKYO (AP) — Japan has reported its trade deficit for the first half of this year totaled nearly 8 trillion yen, or about $58 billion, because of surging oil prices and a weakening yen. The deficit for January- June was the second consecutive half-year of deficits. Finance Ministry data released

By BHARATHA MALLAWARACHI Associated Press COLOMBO, Sri Lanka (AP) — Veteran politician Ranil Wickremesinghe has been sworn in as Sri Lanka’s new president to take charge of a nation bitterly angry he was chosen amid an unprecedented economic crisis. Wickremesinghe took his oath Thursday a day after lawmakers chose him to finish the term of

By GEIR MOULSON Associated Press BERLIN (AP) — Natural gas started flowing through a major pipeline from Russia to Europe on Thursday after a 10-day shutdown for maintenance — but the gas flow remained well short of full capacity and the outlook was uncertain, which leaves Europe still facing the prospect of a hard winter.

By ZEN SOO Associated Press HONG KONG (AP) — Baidu, a Chinese search engine and artificial intelligence firm, has unveiled its latest electric autonomous driving vehicle. The company says the Apollo RT6 will be soon be part of its robotaxi fleet, as China pushes forward with its autonomous driving ambitions. It is a fully electric

By SEUNG MIN KIM Associated Press WASHINGTON (AP) — President Joe Biden says that U.S. military officials believe it’s “not a good idea” for House Speaker Nancy Pelosi to visit Taiwan at the moment. Biden’s comments came in an exchange with reporters on Wednesday. The Chinese Foreign Ministry has said it would take “resolute and

By GABE STERN Associated Press/Report for America Officials say a fire at the Hoover Dam was isolated to the single area in an exceedingly rare case of a transformer catching on fire. Officials say equipment failure caused a transformer to explode Tuesday at the dam about 25 miles southeast of Las Vegas on the Nevada-Arizona

By BRUCE SCHREINER Associated Press Plans to build an aluminum mill in Kentucky have taken a new turn. A steel producer says it will construct and operate the mill somewhere in the southeastern U.S. That’s after it reached a deal with the company that has failed to deliver on its promise to build the plant

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — CSX delivered slightly better profit in the second quarter. That’s even though volume was flat and the railroad still struggled to handle all the goods companies wanted to ship because it is having a hard time hiring. The Jacksonville, Florida-based railroad said its profits grew

DETROIT (AP) — Two former presidents of the United Auto Workers who were convicted of corruption at the union have been released early from prison after less than a year in custody. The Detroit News reports that Gary Jones was released to home confinement in June. Dennis Williams went home in March. Jones and Williams

By DAVID KOENIG AP Airlines Writer United Airlines says its latest quarterly profit is $329 million, thanks to summer vacationers who are packing airplanes. But United’s second-quarter profit fell short of Wall Street expectations. The airline is blaming the miss on jet fuel prices, which were higher than it was expecting. United says strong revenue

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Omnicom, Netflix rise; Baker Hughes, Toll Brothers fall

The Associated Press Stocks closed higher on Wall Street again Wednesday as more profit reports roll in from U.S. companies. Profit reporting season is ramping up for big companies, with more types of industries offering details about how high inflation and a possible recession are affecting their customers. A lot is riding on whether they

The Associated Press Benchmark U.S. crude oil for August delivery fell $1.96 to $102.26 a barrel Wednesday. Brent crude for September delivery fell 43 cents to $106.92 a barrel. Wholesale gasoline for August delivery fell 3 cents to $3.28 a gallon. August heating oil fell 2 cents to $3.60 a gallon. August natural gas rose

By KATHIA MARTÍNEZ Associated Press PANAMA CITY (AP) — Three weeks of continuous demonstrations and road blockades to protest high fuel and food costs in Panama have begun to cause shortages of some food products, fuel and medicine. The closures, including of the Pan-American Highway, have forced the national electric company to ration electricity in

By MENELAOS HADJICOSTIS Associated Press NICOSIA, Cyprus (AP) — The Greek Cypriot president of Cyprus has dismissed proposals put forward by the leader of the breakaway Turkish Cypriots as an “unacceptable” bid to permanently partition the ethnically divided nation. President Nicos Anastasiades said Wednesday that he considered the ideas to be “another attempt to entrench

By TODD RICHMOND Associated Press MADISON, Wis. (AP) — Wisconsin Attorney General Josh Kaul has filed a lawsuit seeking to hold nearly 20 companies liable for allegedly contaminating the environment with a group of chemicals known as PFAS. Kaul, a Democrat, filed the lawsuit Wednesday in Dane County circuit court. It names 18 companies as

DETROIT (AP) — The company that makes Can-Am Ryker motorcycles is warning people not to ride some of them because a handlebar bolt can break, causing loss of steering and raising the risk of a crash. The U.S. National Highway Traffic Safety Administration put out an alert about the problem on Wednesday involving certain 2022

By DAVID SHARP Associated Press The U.S. Postal Service plans to further increase the number of electric-powered vehicles it’s buying to replace its aging fleet of delivery trucks. The Postal Service now wants 50% of its initial purchase of 50,000 next-generation vehicles to be electric, up from the previous plan for 20% being electric. It

By FREIDA FRISARO Associated Press MIAMI (AP) — A jury in Florida has found Tesla just 1% negligent in a fiery crash that killed two teens, for disabling a speed limiter on the electric car. Tuesday’s verdict placed 90% of the blame on the driver, Barrett Riley, and 9% on his father, James Riley, who

By SAM METZ Associated Press DELTA, Utah (AP) — The coal plant is closing. In this tiny Utah town surrounded by cattle, alfalfa fields and scrub-lined desert highways, hundreds of workers over the next few years will be laid off — casualties of environmental regulations and competition from cheaper energy sources. Yet across the street

BERLIN (AP) — Europe is in an energy crisis, and it means countries will struggle to keep homes warm and industry humming this winter. That’s because Russia has slashed Europe’s flows of natural gas used to power factories, generate electricity and heat homes in the winter. Moscow says deliveries through a major pipeline to Germany,

By RAQUEL REDONDO and BARRY HATTON Associated Press MADRID (AP) — The death of a street cleaner during a heat wave in Madrid is driving a debate in Spain about the need to adapt labor rules to the realities of climate change. Most importantly, officials and unions are trying to ease the heat inequalities faced

By ALEX VEIGA AP Business Writer Sales of previously occupied U.S. homes slowed for the fifth consecutive month in June as higher mortgage rates and rising prices kept many home hunters on the sidelines. The National Association of Realtors said Wednesday that existing home sales fell 5.4% last month from May to a seasonally adjusted

By SYLVIA HUI Associated Press LONDON (AP) — Britain’s government has given the green light to a new nuclear power station that’s expected to generate enough low-carbon electricity to power 6 million homes. Business Secretary Kwasi Kwarteng said development consent was granted for the building of the plant, called Sizewell C, on eastern England’s Suffolk

By TOM MURPHY AP Health Writer Cost cutting helped Biogen beat second-quarter expectations soundly even as revenue slid and sales of the drugmaker’s controversial Alzheimer’s treatment collapsed. Aduhelm, a drug once expected to generate billions in annual sales, brought in only $100,000 in the quarter. That’s down from the $1.6 million in sales it recorded

By PAUL WISEMAN and MARÍA VERZA The Associated Press WASHINGTON (AP) — The United States is putting pressure on Mexico over energy policies that Washington says unfairly favor Mexico’s state-owned electricity and oil companies over American competitors and clean-energy suppliers. Among the specific issues in dispute is an amendment to Mexican law last year that

By GLENN GAMBOA AP Business Writer NEW YORK (AP) — Donations from Fidelity Charitable climbed 11% to a record $4.8 billion for the first half of 2022. The nation’s largest grantmaker says the growth in payouts from its donor-advised funds paints a far sunnier picture about philanthropy than other recent reports. Donor-advised funds let donors

By LEANNE ITALIE Associated Press NEW YORK (AP) — For the uninitiated, outfitting a college dorm room can be a dizzying experience. Doing it at a time of high inflation can make it even more daunting. The first step: Meticulously go over what the school allows and provides. If you want a microwave and minifridge,

By IVANA BZGANOVIC Associated Press BELGRADE, Serbia (AP) — Egypt and Serbia have agreed to boost political, economic and other cooperation as the two countries look for ways to deal with the global impact of the Russian invasion of Ukraine. Egypt’s President Abdel-Fattah el-Sissi is in Serbia on a three-day visit this week — the

By ALEX ROSENBERG of NerdWallet Medicare fraud is big business, and the COVID-19 pandemic has provided new opportunities for fraudsters. Fortunately, there are simple actions you can take to protect yourself from Medicare fraud. First, treat your Medicare number like it’s a credit card number or your Social Security number. Share it only with trusted

By KATIE TAM and ZEN SOO Associated Press HONG KONG (AP) — Hong Kong’s annual book fair has kicked off with several publishers of political books prevented from taking part in the fair and others saying they had to be cautious about what they exhibited. The fair’s main organizer, the Hong Kong Trade Development Council,

By RAF CASERT Associated Press BRUSSELS (AP) — The European Union’s head office on Wednesday proposed that member states cut their gas use by 15% over the coming months as the bloc braced for a possible full Russian cutoff of natural gas supplies that could add a big chill to the upcoming winter. While the

By MILES BRANMAN Edmunds There are two key points within the life cycle of a vehicle: the introduction of a fully redesigned model and a significant midlife update. If you’re looking to maximize your new vehicle purchase, knowing these timelines can help you make the best decision. An automaker’s marketing might liberally describe the vehicle

By CATHY BUSSEWITZ AP Energy Writer NEW YORK (AP) — When long-haul trucker Deb LaBree sets out on the road to deliver pharmaceuticals, she has strategies to hold down costs. She avoids the West Coast and the Northeast, where diesel prices are highest. She organizes her delivery route to minimize “deadheading” — driving an empty

By SEUNG MIN KIM and MATTHEW DALY Associated Press SOMERSET, Mass. (AP) — President Joe Biden on Wednesday announced modest new steps to combat climate change and promised more robust action to come, saying, “This is an emergency and I will look at it that way.” The president stopped short, though, of declaring a formal

LONDON (AP) — Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis. The Office of National Statistics said Wednesday that consumer prices rose 9.4% in the year through June, up from 9.1% the previous month. The new figure

BEIJING (AP) — Four people have died in a gas explosion at a six-story residential building in the Chinese port city of Tianjin. State broadcaster CCTV said Wednesday that 13 other people had injuries that were not life-threatening. The cause of the explosion remains under investigation, but it points to the deterioration of infrastructure following

By KRISHAN FRANCIS Associated Press COLOMBO, Sri Lanka (AP) — Sri Lankan lawmakers have elected the unpopular prime minister as their new president. Wednesday’s choice risked reigniting turmoil in the South Asian nation reeling from economic collapse and months of round-the-clock protests. The crisis has already forced out one leader, and a few hundred protesters

By TOM KRISHER AP Auto Writer DETROIT (AP) — A monitor appointed by a federal judge in the wake of a United Auto Workers bribery and embezzlement scandal says the union has been uncooperative, withholding information on additional misconduct allegations. Monitor Neil Barofsky, in his third report to Judge David Lawson in Detroit, accused the

By SCOTT BAUER Associated Press MADISON, Wis. (AP) — Elections officials from across the country meeting under heightened security were urged Tuesday to prepare for supply chain issues that could lead to shortages in paper used for everything from ballots to “I voted” stickers for years to come. The summer meeting of the National Association

By JEFF AMY and RUSS BYNUM Associated Press SAVANNAH, Ga. (AP) — Georgia officials are close to finalizing a deal with automaker Hyundai to build a $5.5 billion electric car plant near Savannah. An economic development agency representing four Savannah-area counties approved its portions of the agreement Tuesday, including an economic incentives package. Details won’t

The Associated Press Wall Street rallied Tuesday to its best day in three weeks as more reports pour in on how much profit companies made during the spring. A powerful tide carried 99% of the stocks in the S&P 500 index upward. Small-company stocks rose even more. More types of companies are reporting how much

By HILLEL ITALIE AP National Writer NEW YORK (AP) — The publisher of Simon & Schuster’s flagship imprint, Dana Canedy, is stepping down to concentrate on a sequel to a book Denzel Washington adapted last year for the film “A Journal for Jordan.” Canedy, a former New York Times editor and writer and the first

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: NCR, Hasbro rise; IBM, Signature Bank fall

By LAURAN NEERGAARD AP Medical Writer U.S. adults who haven’t gotten any COVID-19 shots yet should consider a new option from Novavax — a more traditional kind of vaccine, health officials said Tuesday. Regulators authorized the nation’s first so-called protein vaccine against COVID-19 last week, but the final hurdle was a recommendation from the Centers

The Associated Press Benchmark U.S. crude oil for August delivery rose $1.62 to $104.22 a barrel Tuesday. Brent crude for September delivery rose $1.08 to $107.35 a barrel. Wholesale gasoline for August delivery rose 4 cents to $3.31 a gallon. August heating oil fell 3 cents to $3.63 a gallon. August natural gas fell 21

By DEE-ANN DURBIN AP Business Writer Chipotle is closing a Maine store that had been leading efforts to unionize the chain. Employees at the Augusta, Maine, Chipotle had filed a petition with the National Labor Relations Board in June asking to hold a union election at the store. It was the first Chipotle to file

DETROIT (AP) — The U.S. government’s road safety agency says it will spend $8 million on ads aimed at stemming the rising number of traffic deaths caused by speeding. The National Highway Traffic Safety Administration campaign called “Speeding Wrecks Lives” will run on television, radio and digitally, targeting drivers from ages 18 to 44. The

By SYLVIA HUI Associated Press LONDON (AP) — A lawsuit against the British government says officials at the U.K.’s Foreign Office had misgivings about plans to deport asylum-seekers to Rwanda because of the East African nation’s human rights record. Lawyer Raza Husain said in written submissions filed Tuesday that Foreign Office officials told then Foreign

By COREY WILLIAMS Associated Press DETROIT (AP) — A Detroit-area water utility says it will deny flooding claims stemming from a damaging storm last summer based on an independent review that found the flooding was caused by the amount of rainfall and not a defect in its wastewater collection and pumping system. The Great Lakes

By RAF CASERT Associated Press BRUSSELS (AP) — The European Union is set to propose energy cuts and savings as the 27-nation bloc expects Russian President Vladimir Putin to cut off vast natural gas supplies. The plan to be released Wednesday might make for a much colder winter, but one without massive disruptions. Since Russia

By MATT O’BRIEN AP Technology Reporter Tesla CEO Elon Musk lost his fight to delay Twitter’s lawsuit against him as a Delaware judge on Tuesday set an October trial, citing the “cloud of uncertainty” over the social media company after the billionaire backed out of a deal to buy it. “Delay threatens irreparable harm,” said

By HALELUYA HADERO AP Business Writer Amazon has filed a lawsuit against administrators of more than 10,000 Facebook groups it accuses of coordinating fake reviews in exchange for money or free products. The Seattle-based e-commerce giant said in a statement posted on its website Tuesday the Facebook groups were set up to recruit people “willing

ATLANTA (AP) — Delta Air Lines is on a jet-buying spree. Delta said Tuesday that it converted options into firm orders to get 12 more jets from Airbus. The deal comes one day after Delta announced it will buy 100 Boeing 737 Max jets. The Airbus order is for a smaller plane than the Max,

WARSAW, Poland (AP) — Ukraine has become an association country of the International Energy Agency. Both stressed Tuesday that closer cooperation will help Europe face what is expected to be a hard winter amid an energy crisis tied to Russia’s war in Ukraine. The move reflects Ukraine’s crucial role for European and global energy security

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — Warren Buffett’s Berkshire Hathaway now owns nearly $11 billion worth of Occidental Petroleum stock after buying another 1.9 million shares in the past week. The latest purchases Berkshire reported to the Securities and Exchange Commission Monday give the Omaha, Nebraska-based conglomerate control of 19.4% of

By ERIC TUCKER Associated Press NEW YORK (AP) — The FBI and Justice Department recently disrupted the activities of a hacking group that was sponsored by the North Korean government and that targeted U.S. hospitals with ransomware. The agencies were able to recover half a million dollars in ransom payments. That’s according to Deputy Attorney

By KAREEM CHEHAYEB Associated Press BEIRUT (AP) — Lebanese security forces, accompanied by an investigative judge, have raided the country’s Central Bank in a divisive investigation against the bank’s embattled governor. The judge was apparently searching for the governor in the raid on Tuesday but left after not finding him. Judge Ghada Aoun had been

By RANDALL CHASE AP Business Writer DOVER, Del. (AP) — Elon Musk’s attempt to delay a lawsuit filed against him by Twitter after he tried to walk away from a $44 billion agreement to buy the company has failed. On Tuesday, a Delaware judge ordered an expedited trial citing the “cloud of uncertainty” over the

By SUSIE BLANN Associated Press KYIV, Ukraine (AP) — Russian missiles have struck cities and villages in eastern and southern Ukraine as Russian President Vladimir Putin received Iran’s strong support for his military operation. The regional governor in the eastern city of Kramatorsk said one person was killed in an airstrike Tuesday that hit an

By COREY WILLIAMS Associated Press A study says that a nearly 80-year-old law intended to put distressed and tax-delinquent Chicago-area properties back to productive use has done little to improve or solve racial inequities in the city’s Black and Latino neighborhoods. A report released Tuesday by the Cook County treasurer’s office proposes scrapping or modifying

By NICOLE WINFIELD Associated Press ROME (AP) — The Vatican has centralized and overhauled its investment strategy after a botched deal lost tens of millions of euros. The new policy announced Tuesday by the Secretariat for the Economy prohibits investments in products such as pornography and weapons and prioritizes prudent investing in industries that promote

By TOM MURPHY AP Health Writer Johnson & Johnson rode growing sales of the cancer treatment Darzalex and other key drugs to a better-than-expected second quarter, but foreign exchange rates again cut into the health care giant’s 2022 forecast. The company on Tuesday dropped its forecast to a range below analyst expectations after also trimming

By MELISSA LAMBARENA of NerdWallet When inflation has you on a tight budget, a credit card may seem like an easy option to stay afloat. Without a plan in place to pay it off, though, you could be at risk for credit card mistakes that lead to a mountain of debt. If you’re in a

BRUSSELS (AP) — The European Union’s executive arm has proposed earmarking 500 million euros for joint defense procurement in the wake of the Russian invasion of Ukraine and the military aid EU nations have offered to Kyiv. The European Commission said in a statement that the first-ever such pooling of resources “will avoid competition among

By THALIA BEATY Associated Press SEATTLE (AP) — Dominique Davis was inside a Seattle-area church one day in March 2021 when a man with a handgun opened fire during a meeting of Community Passageways, a group he founded that works to curb gun violence. The gunman shot 19-year-old Omari Wallace several times before fleeing. Wallace,

By DAVID KOENIG and KELVIN CHAN Associated Press FARNBOROUGH, England (AP) — Airplanes are a minor contributor to global greenhouse-gas emissions, but their share is sure to grow as more people travel in coming years. That has the aviation industry facing the prospect of tighter environmental regulations and higher costs. At Monday’s opening of a

By DAVID KOENIG and KELVIN CHAN Associated Press FARNBOROUGH, England (AP) — Airplanes are a minor contributor to global greenhouse-gas emissions, but their share is sure to grow as more people travel in coming years — and that has the aviation industry facing the prospect of tighter environmental regulations and higher costs. The industry has

STOCKHOLM (AP) — Scandinavian Airlines pilots in Sweden, Norway and Denmark have called off a strike that ran for 15 days and caused major disruption, after reaching an agreement with management.   SAS CEO Anko van der Werff said the parties had agreed on an agreement covering the next five-and-a-half years that guarantees both cost

BEIJING (AP) — A gas explosion after a partial building collapse in the northern Chinese port city of Tianjin has left three people missing and 11 injured. The event remains under investigation, but it points to the deterioration of infrastructure following more than three decades of breakneck economic growth. That development has vastly boosted living

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Asian shares advanced Wednesday after Wall Street rallied to its best day in more than three weeks as companies reported strong profits for the past quarter. Tokyo’s Nikkei 225 jumped 2.5% to 27,631.50 while the Hang Seng in Hong Kong gained 2% to 21,068.85. In Seoul,

BEIJING (AP) — Authorities in southern China have apologized for breaking into the homes of people who had been taken to a quarantine hotel in the latest example of heavy-handed virus-prevention measures that have sparked a rare public backlash. State media said that 84 homes in an apartment complex in Guangzhou city’s Liwan district had