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4 hours ago

Asian shares gain, tracking Wall Street advance

Shares are higher in Asia, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses
4 hours ago
An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. Stocks are opening lower on Wall Street, Wednesday, June 22, as sharp drops in crude oil prices pull energy companies lower. Big technology stocks were also lower, but major indexes were still holding on to gains for the week. (AP Photo/Seth Wenig)
4 hours ago

A world apart, Lebanon and Sri Lanka share economic collapse

A shared history of political turmoil and violence in two countries a world apart, Lebanon and Sri Lanka, led to the collapse of once-prosperous economies that have been bedeviled by corruption, patronage, nepotism and incompetence
4 hours ago
FILE- An anti-government demonstrator holds a national flag and runs across tires that were set on fire to block a main highway during a protest against a ruling elite they say has failed to address the economy's downward spiral, in the town of Jal el-Dib, north of Beirut, Lebanon, Tuesday, Jan. 14, 2020. Lebanon and Sri Lanka may be a world apart, but they share a history of political turmoil and violence that led to the collapse of once-prosperous economies bedeviled by corruption, patronage, nepotism and incompetence. (AP Photo/Bilal Hussein, File)
June 23

Fix the Hog: Harley, Westinghouse ordered to fix warranties

The companies are accused of imposing illegal warranty terms on customers.
June 23
FILE - In this Sunday, Oct. 20, 2019 file photo, the company logo hangs over the entrance to a Harley Davidson dealership in Littleton, Colo. Federal regulators have accused Harley-Davidson and Westinghouse of imposing illegal warranty terms on customers and ordered them to fix their warranties and ensure that their dealers compete fairly with independent repair-makers. The Federal Trade Commission announced, Thursday, June 23, 2022, the action against the motorcycle maker and MWE Investments, which makes Westinghouse-brand outdoor power generators and related equipment. (AP Photo/David Zalubowski, File)
June 23

All big US banks pass Fed's annual 'stress tests'

The nation’s 3 biggest banks have enough capital to withstand a severe economic contraction
June 23
FILE - An American flag flies over the Federal Reserve building on May 4, 2021, in Washington. The nation’s 33 biggest banks have enough capital to withstand a severe economic contraction, the Federal Reserve said Thursday, June 23, 2022. In its latest annual “stress tests” of the U.S. financial system, the Fed built a scenario under which the nation’s unemployment rate would more than double to 10%, and a severe contraction in commercial real estate and stock market values would cause losses of more than $600 billion. (AP Photo/Patrick Semansky, File)
June 23

Delta wins right to stay at Dallas airport after lawsuit

The agreement ends a long court fight over gates at the city-owned airport.
June 23
FILE - Travelers use the Delta airlines self check-in at Love Field in Dallas, Nov. 27, 2019. Delta Air Lines will be able to continue operating flights at Dallas Love Field for another six years, under a settlement approved by the city council. The agreement, which passed without debate this week, appears to end a long court fight over gates at the city-owned airport near downtown Dallas that is dominated by Southwest Airlines. (AP Photo/LM Otero, file)
June 23

FDA bans Juul e-cigarettes tied to teen vaping surge

U.S. health regulators have ordered vaping company Juul to pull its electronic cigarettes from the market
June 23
June 23

Settlement would forgive $6B for defrauded college students

The Biden administration has agreed to cancel $6 billion in student loans for about 200,000 former students who say they were defrauded by their colleges
June 23
Education Secretary Miguel Cardona speaks at an event where Vice President Kamala Harris announced the cancelation of all federal student loans borrowed by students to attend any Corinthian Colleges, Thursday, June 2, 2022, at the Department of Education in Washington. (AP Photo/Jacquelyn Martin)
June 23

How major US stock indexes fared Thursday 6/23/2022

Stocks shook off a midday slump and ended higher, keeping major indexes on track for weekly gains
June 23
June 23

Mosaic, Bank of America fall; KB Home, Rite Aid rise

Stocks that traded heavily or had substantial price changes Thursday: Mosaic, Bank of America fall; KB Home, Rite Aid rise
June 23
June 23

Yelp closes three US offices, says remote work is its future

Yelp is closing three of its U.S. offices after finding most of its employees prefer to work remotely
June 23
FILE - In this Oct. 26, 2011 file photo, the logo of the online reviews website Yelp is shown in neon on a wall at the company's Manhattan offices in New York. Yelp is closing some physical offices, saying employees were hardly using them since the company went remote. Yelp said Thursday, June 23, 2022 it's closing offices in New York, Washington and Chicago and downsizing in Phoenix. (AP Photo/Kathy Willens, File)
June 23

The AP Interview: Estonian PM says Russia not weary of war

Estonian Prime Minister Kaja Kallas has told The Associated Press that the West shouldn't underestimate Russia’s military capabilities in Ukraine and that President Vladimir Putin's forces are in it for the long haul
June 23
Prime Minister of Estonia, Kaja Kallas speaks during an interview with The Associated Press in Tallinn, Estonia, Wednesday, June 22, 2022. Kallas called European unity on the war in Ukraine “a negative surprise” for Russian President Vladimir Putin. Still, she told The Associated Press in an interview on Wednesday, one shouldn’t underestimate Moscow’s military capabilities, because “they are in this for the long haul.” (AP Photo/Sergei Grits)
June 23

Oil industry says Granholm meeting sends 'positive signal'

Groups representing the oil industry and refiners say a meeting with Energy Secretary Jennifer Granholm was productive and should send a signal to markets that the United States is committed to long-term investments in the oil and refining industry
June 23
Energy Secretary Jennifer Granholm speaks during the daily briefing at the White House in Washington, Wednesday, June 22, 2022. (AP Photo/Susan Walsh)
June 23

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels
June 23
June 23

Musk vows fast fix for new "money furnace" Tesla factories

Tesla CEO Elon Musk described the electric automaker’s factories in Austin and Berlin as “money furnaces” that were losing billions of dollars because supply chain breakdowns were limiting the number of cars they can produce
June 23
June 23

Powell: Fed must convince public it can tame inflation

As if their job weren’t hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession
June 23
Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee, as he presents the Monetary Policy Report to the committee on Capitol Hill, Wednesday, June 22, 2022, in Washington. (AP Photo/Manuel Balce Ceneta)
June 23

Instagram tests using AI, other tools for age verification

Instagram is testing new ways to verify the age of people using its service, including a face-scanning artificial intelligence tool, having mutual friends verify their age or uploading an ID
June 23
FILE - This Friday, Aug. 23, 2019, file photo shows the Instagram app icon on the screen of a mobile device in New York. Instagram is testing new ways to verify people's age to use the service, including a face-scanning artificial intelligence tool, having mutual friends verify their age or uploading an ID. But the tools won't be used, at least not yet, to try to keep children off of the popular photo and video-sharing app. Rather, they are only for verifying that someone is 18 or older. (AP Photo/Jenny Kane, File)
June 23

Airport chaos: European travel runs into pandemic cutbacks

After two years of restrictions, travel demand is back with a vengeance.
June 23
FILE - Travelers wait in long lines outside the terminal building to check in and board flights at Amsterdam's Schiphol Airport, Netherlands, Tuesday, June 21, 2022. After two years of pandemic restrictions, travel demand is back with a vengeance but airlines and airports that slashed jobs during the depths of the COVID-19 crisis are struggling to keep up. With the busy summer tourism season underway in Europe, passengers are encountering chaotic scenes at airports, including lengthy delays, canceled flights and headaches over lost luggage. (AP Photo/Peter Dejong, File)
June 23

EXPLAINER: Why Sri Lanka's economy collapsed and what's next

Sri Lanka’s prime minister says the island nation's debt-laden economy has “collapsed” as it runs out of money to pay for food and fuel
June 23
Women wait in a queue to buy kerosene in in Colombo, Sri Lanka, Saturday, June 11, 2022. Sri Lanka's economic crisis, the worst in its history, has completely recast the lives of the country's once galloping middle class. For many families that never had to think twice about fuel or food, the effects have been instant and painful, derailing years of progress toward lifestyles aspired to across South Asia. (AP Photo/Eranga Jayawardena)
June 23

European Union leaders set to grant Ukraine candidate status

EU leaders are set to grant Ukraine a candidate status to join the bloc.
June 23
European Council President Charles Michel speaks with the media as he arrives for an EU summit in Brussels, Thursday, June 23, 2022. European Union leaders are expected to approve Thursday a proposal to grant Ukraine a EU candidate status, a first step on the long toward membership. The stalled enlargement process to include Western Balkans countries in the bloc is also on their agenda at the summit in Brussels. (AP Photo/Olivier Matthys)
June 23

United cuts flights at Newark in effort to reduce delays

United Airlines will cut about 50 flights a day in Newark, New Jersey, to try to limit flight delays and cancellations there this summer
June 23
FILE - United Airlines planes are parked at gates at Newark Liberty International Airport in Newark, N.J., on July 1, 2020. United Airlines will cut about 50 flights a day in Newark, to try to limit flight delays and cancellations there this summer. A United spokeswoman said Thursday, June 23, 2022 that the flights being cut are all domestic, and no destinations are being dropped entirely. (AP Photo/Seth Wenig, File)
June 23

Average long-term US mortgage rates inch up to 5.81%

Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years
June 23
FILE - A home with a "Sold" sign is shown, Sunday, May 2, 2021, in Surfside, Fla. Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reported Thursday, June 23, 2022, that the 30-year rate ticked up to 5.81% this week, from last week’s 5.78%. (AP Photo/Wilfredo Lee, File)
June 23

Buffett's firm picks up $500 million more Occidental shares

Warren Buffett's Berkshire Hathaway bought more than $500 million worth of Occidental Petroleum shares over the past week as it continued to invest heavily in oil producers this year
June 23
FILE - In this Jan. 26, 2010 photo, the Occidental Petroleum headquarters building is seen in Los Angeles. Warren Buffett's Berkshire Hathaway bought more than $500 million worth of Occidental Petroleum shares over the past week as it continued to invest heavily in oil producers this year. Occidental shares gained more than 2% Thursday, June 23, 2022 after Berkshire disclosed owning 16.3% of the company's stock. (AP Photo/Reed Saxon, file)
June 23

Trains canceled in UK as unions stage 2nd 24-hour walkout

Millions of people in Britain are facing disruption.
June 23
Few passengers walk at Waterloo East station as train services continue to be disrupted following the nationwide strike by members of the Rail, Maritime and Transport union along with London Underground workers in a bitter dispute over pay, jobs and conditions, in London, Thursday, June 23, 2022. (Victoria Jones/PA via AP)
June 23

Wall Street's bubble may be gone, but stocks can still fall

This year's sell-off for Wall Street means stocks no longer look to be in a dangerously overvalued bubble, as some critics had warned
June 23
FILE - A trader works on the floor at the New York Stock Exchange in New York, Thursday, May 19, 2022. This year's sell-off for Wall Street means stocks no longer look to be in a dangerously overvalued bubble, as some critics had warned. Prices have retreated toward historical norms, when measured against corporate profits. Analysts have so far been maintaining their expectations for corporate profits going forward. (AP Photo/Seth Wenig, File)
June 23

3 summits offer test of Western unity, dominated by Ukraine

Three consecutive summits over the next week will test Western resolve.
June 23
FILE - German Chancellor Olaf Scholz attends the presentation of a special stamp of the German mail service Deutsche Post for the upcoming G7 summit, at the chancellery in Berlin, Germany, Wednesday, June 15, 2022. Three back-to-back summits over the next week will test Western resolve to support Ukraine and the extent of international unity as rising geopolitical tensions and economic pain cast an increasingly long shadow. (AP Photo/Markus Schreiber, File)
June 23

Gas prices sting US workers who depend on their cars

High gas prices have some workers looking for a new career.
June 23
Wallace Reid waits at a stop light in his vehicle he drives to make a living using ride-share apps, Wednesday, June 22, 2022, in the Queens borough of New York. Millions of Americans who rely on their cars for work are changing their habits, signing up for carpools or even ditching their cars for bicycles as gas prices recently hit $5 per gallon for the first time ever. (AP Photo/John Minchillo)
June 23

Fewer Americans file for jobless aid

Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite myriad economic pressures, including four-decade high inflation
June 23
FILE - Hiring sign is displayed outside of a retail store in Vernon Hills, Ill., on Nov. 13, 2021. Fewer Americans applied for jobless aid last week with the number of Americans collecting unemployment at historically low levels. Applications for unemployment benefits fell by 11,000 to 200,000 for the week ending May 28, the Labor Department reported Thursday, June 2, 2022. First-time applications generally track the number of layoffs. (AP Photo/Nam Y. Huh, File)
June 23

Portugal seizes tons of cocaine hidden in banana shipments

Police in Portugal have found just over 8 metric tons (8.8 short tons) of cocaine concealed inside banana shipments from Colombia
June 23
June 23

Biden teams with East Coast governors to boost offshore wind

The White House is launching a partnership with 11 East Coast governors to boost the growing offshore wind industry, a key element of President Joe Biden’s climate change plan
June 23
June 23

Turkey battles wind-driven wildfire near resort for 3rd day

Firefighting crews were battling a wind-driven wildfire that has blackened swaths of pine forest near a popular resort in southwestern Turkey and driven dozens of people from their homes
June 23
June 23

Exec returns to Toyota as adviser after '15 arrest in Japan

An American executive who resigned from Toyota after being arrested in Japan in 2015 on suspicion of drug law violations has returned to the Japanese automaker
June 23
FILE - Julie Hamp, a former highest ranking woman executive of Toyota Motor Corp., leaves Harajuku police station after being released, in Tokyo Wednesday, July 8, 2015. Hamp, who resigned from Toyota after being arrested in Japan on suspicion of drug law violations in 2015, is back at the Japanese automaker's North America operations company helping oversee sustainability, governance and global media relations, Toyota Motor Corp. said Thursday, June 23, 2022. (Yosuke Mizuno/Kyodo News via AP)
June 23

Air France-KLM boss warns travelers: Go to the airport early

The chief of airline alliance Air France-KLM says it will take weeks or months to get new security staff in place to lighten pressure on the Amsterdam airport
June 23
FILE - CEO of Air France-KLM Benjamin Smith speaks during a press conference at Roissy airport, north of Paris, Tuesday, May 18, 2021. The chief of airline alliance Air France-KLM said Thursday June 23, 2022 that it will take weeks or months to get new security staff in place to lighten pressure on the Amsterdam airport, which has seen flight cancellations, huge delays and big travel headaches as global air travel rebounds. (AP Photo/Christophe Ena, File)
June 23

Russians focus firepower to seize 2 villages in east Ukraine

Ukrainian authorities say Russia's military captured two villages in eastern Ukraine and were vying for control of a key highway in a continued offensive on the frontline
June 23
Ukrainian soldiers camouflage a U.S.-supplied M777 howitzer with tree branches after they fired at Russian position in Ukraine's eastern Donetsk region Saturday, June 18, 2022. (AP Photo/Efrem Lukatsky)
June 23

The high prices that could lead to the next recession -- and it's not gasoline

The supply chain for many goods relies on diesel-fueled transportation.
June 23
Long-distance truck drivers fuel their rigs at a truck stop in Valdosta, Ga., June 6, 2022.
June 23

Germany faces gas supply 'crisis,' declares alarm level

Germany activated the second phase of its three-stage emergency plan for natural gas supplies saying the country faces a “crisis” and warning that storage targets for the winter are at risk due to dwindling deliveries from Russia
June 23
June 23

Asian stocks mixed after Wall St declines on growth worries

Asian stock markets are mixed after Wall Street edged lower amid fears higher interest rates will chill global economic activity
June 23
FILE - A street sign is seen in front of the New York Stock Exchange in New York, Tuesday, June 14, 2022. Stocks are opening broadly higher on Wall Street Tuesday, June 21, clawing back some of the ground they lost in their worst weekly drop since the beginning of the pandemic. (AP Photo/Seth Wenig, File)
June 22

Biden calls for 3-month suspension of gas and diesel taxes

President Joe Biden is calling on Congress to suspend federal gasoline and diesel taxes for three months — an election-year move meant to ease financial pressures
June 22
President Joe Biden speaks about gas prices in the South Court Auditorium on the White House campus, Wednesday, June 22, 2022, in Washington. (AP Photo/Evan Vucci)
June 22

Will the Fed, White House's economic moves slow down inflation?

ABC News’ Alex Presha and Alexis Christoforous break down what the White House and Federal Reserve are doing to bring prices under control as inflation remains a top concern.
June 22
VIDEO: Will the Fed, White House's economic moves slow down inflation?
June 22

Ohio State gets approval to trademark 'The' for merchandise

Ohio State University has won its fight to trademark the word “The.”
June 22
FILE - This May 8, 2019, photo, shows a sign for The Ohio State University in Columbus, Ohio. Ohio State University has won its fight to trademark the word "The." The U.S. Patent and Trademark Office approved the university's request Tuesday, June 21, 2022. The school says it allows Ohio State to control use of "The" on branded products associated with and sold through athletics and collegiate channels. (AP Photo/Angie Wang, File)
June 22

Walmart expands health services to address racial inequality

Walmart is expanding health care coverage for employees who want to use a doula, a person trained to assist women during pregnancies, in an effort to address racial inequities in maternal care
June 22
FILE - Shown is a Walmart location in Philadelphia, Wednesday, Nov. 17, 2021. Walmart, the nation’s largest retailer, on Wednesday, June 22, 2022, is expanding its healthcare coverage of so-called doula services beyond its workers in Georgia to Louisiana, Indiana and Illinois in an effort to address racial inequities in maternal care. With this move, workers can take advantage of financial support to cover care by doulas— experts who are trained to help support mothers through the labor process and delivery of the child _ up to $1,000 per pregnancy. (AP Photo/Matt Rourke)
June 22

How major US stock indexes fared Wednesday 6/22/2022

Stocks gave up an afternoon gain and ended slightly lower on Wall Street Wednesday
June 22
June 22

Sonoco Products, Korn Ferry rise; Chevron, Altria fall

Stocks that traded heavily or had substantial price changes Wednesday: Sonoco Products, Korn Ferry rise; Chevron, Altria fall
June 22
June 22

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels
June 22
June 22

Powell: Fed aims to avoid recession but says it's possible

Federal Reserve Chair Jerome Powell sought to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession
June 22
Federal Reserve Chairman Jerome Powell attends a news conference following an Open Market Committee meeting, at the Federal Reserve Board Building, Wednesday, June 15, 2022, in Washington. (AP Photo/Jacquelyn Martin)
June 22

Biden calls for a gas tax holiday. Here's what it means.

The move would give drivers immediate relief but has downsides, experts say.
June 22
High gas prices are shown as a pedestrian waits to cross the street in Los Angeles, June 16, 2022.
June 22

'Groundhog Day' at IRS: Returns pile up, phone delays worsen

An IRS watchdog says customer service issues are worsening at the tax-return-processing agency
June 22
FILE - Internal Revenue Service Commissioner Charles Rettig prepares to testify before the Senate Finance Committee, at the Capitol in Washington, April 7, 2022. A new report from the National Taxpayer Advocate says that taxpayers are experiencing longer wait times on the phone, there’s an even bigger backlog of paper returns than there was a year ago, and delays in processing paper returns have been running six months to one year. (AP Photo/J. Scott Applewhite, File)
June 22

Dredging company to pay $1M for restoration work oil spill

A Houston dredging company has been ordered to pay a $1 million fine for an oil spill that occurred when a subcontractor cut through a pipeline during Louisiana barrier island restoration work in 2016
June 22
Coast Guard Petty Officer 3rd Class Lyndsey Slabe surveys the cleanup efforts in Bay Long, La., Sept. 10, 2016. A Houston dredging company has been ordered Thursday, June 16, 2022, to pay a $1 million fine for an oil spill that occurred when a subcontractor cut through a pipeline during Louisiana barrier island restoration work in 2016. (Petty Officer 3rd Class Brandon Giles/U.S. Coast Guard via AP)
June 22

Cement carbon dioxide emissions quietly double in 20 years

New global data shows that emissions of heat-trapping gases coming from making cement have doubled in the last 20 years
June 22
June 22

UK to see 2nd national rail strike after talks hit stalemate

Britain is facing the second of three national railway strikes after new negotiations between union and employers ended in deadlock
June 22
Passengers board a tube at Stratford station, as train services continue to be disrupted following the nationwide strike by members of the Rail, Maritime and Transport union along with London Underground workers in a bitter dispute over pay, jobs and conditions, in London, Wednesday June 22, 2022. (Stefan Rousseau/PA via AP)
June 22

In climate fight, EU lawmakers back stricter emission caps

European Union lawmakers are requiring deeper emission cuts from power plants, factories and planes in Europe while endorsing an unprecedented import tax to step up the fight against global warming
June 22
FILE - Steam and smoke rise from power plant located by the Turow lignite coal mine near the town of Bogatynia, Poland, Jan. 15, 2022. U.N. Secretary-Antonio Guterres warned Tuesday, June 14, of a “dangerous disconnect” between what scientists and citizens are demanding to curb climate change, and what governments are actually doing about it. Guterres said the war in Ukraine risked worsening the crisis, because major economies were “doubling down on fossil fuels” that are to blame for much of the emissions stoking global warming. (AP Photo/Petr David Josek, File)