AP National Business

By SAMUEL PETREQUIN Associated Press BRUSSELS (AP) — European Union leaders have agreed that administering booster shots is “urgent” and “crucial” to tackle the surge of coronavirus infections across the continent and the emergence of the new omicron variant. With the festive season looming, the bloc’s leaders also stressed Thursday the importance of coordinated action

By PAN PYLAS Associated Press LONDON (AP) — The Bank of England has raised interest rates to combat surging consumer prices. The move Thursday makes it the first central bank among the world’s leading economies to do so since the coronavirus pandemic began. The increase in the bank’s main rate to 0.25% from the record

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week despite signs that the U.S. labor market is rebounding from last year’s coronavirus recession. Jobless claims were up by 18,000 to a 206,000, still low by historical standards. The four-week average, which smooths out week-to-week

By SUMAN NAISHADHAM and MICHAEL PHILLIS Associated Press WASHINGTON (AP) — The Biden administration is taking steps aimed at reducing lead in drinking water, releasing $2.9 billion in infrastructure bill funds for lead pipe removal. It has also announced plans by the Environmental Protection Agency to impose stricter rules to limit exposure to the health

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The European Central Bank has decided not to abruptly pull back its pandemic support for the economy as the new omicron variant of COVID-19 stirs uncertainty about the continent’s recovery. The move Thursday comes despite inflation hitting record highs and the U.S. speeding up its

Delta Air Lines no longer expects to lose money in the fourth quarter with travel during the holiday season heating up. The company said Thursday that it now foresees an adjusted profit of approximately $200 million in the final quarter of the year. In October Delta cautioned that it expected a “modest” loss in the

By DEE-ANN DURBIN AP Business Writer Former McDonald’s CEO Steve Easterbrook has paid back more than $105 million in equity awards and cash to the burger giant after it learned that he had lied about the extent of his misconduct while he was its top executive. Easterbrook apologized Thursday, saying that he had “failed at

By DAVID SHARP Associated Press PORTLAND, Maine (AP) — A big postal rate increase over the summer hasn’t stopped catalog retailers from stuffing mailboxes this holiday season. The U.S. Postal Service says more than 300 million catalogs flooded into people’s mailboxes last month and that overall the number of catalogs has grown 12% over last

By DUSAN STOJANOVIC Associated Press BELGRADE, Serbia (AP) — Local authorities in western Serbia have suspended a plan that would allow mining giant Rio Tinto to operate a lithium mine. The mining had been expected to start in the near future, but a town council in Loznica voted on Thursday to suspend a regional development

By PAN PYLAS Associated Press LONDON (AP) — The Bank of England has raised interest rates to combat surging consumer prices. The move Thursday makes it the first central bank among the world’s leading economies to do so since the coronavirus pandemic began. The increase in the bank’s main rate to 0.25% from the record

By HILLEL ITALIE AP National Writer NEW YORK (AP) — The former Facebook manager who startled the world this fall by leaking tens of thousands of internal documents and accusing her former employer of caring more about money than about public safety has a book deal. Little, Brown and Company announced Thursday that it had

COPENHAGEN, Denmark (AP) — Norway’s central bank has raised its key policy interest rate from 0.25% to 0.5%, citing the upswing in the economy that it said likely will continue. If the growth continues, the bank’s leader said Thursday that while there’s uncertainty about the coronavirus pandemic, if growth continues, the bank is expected to

By PAN PYLAS Associated Press LONDON (AP) — The Bank of England faces a difficult dilemma over whether to increase interest rates. Though consumer prices are rising at their fastest rate in a decade, the emergence of the omicron variant of the coronavirus has stoked concerns over the economic recovery. As a result, the central

By JUSTIN SPIKE Associated Press BUDAPEST, Hungary (AP) — A fashion studio in Hungary is challenging the centuries-old stereotypes faced by the country’s Roma minority and asserting a place at the table of high culture for the historically marginalized group. The Romani Design studio was co-founded by sisters Erika and Helena Varga. It reutilizes the

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — The European Central Bank is facing a tough decision Thursday. It’s caught between the scheduled end of its pandemic support program and growing worries that the new omicron variant of the coronavirus might set back hard-won progress in the economic recovery from the pandemic. Experts

By ELAINE KURTENBACH AP Business Writer Stocks have climbed in Europe and Asia, tracking Wall Street’s gains, after the Federal Reserve said it would accelerate its pullback of economic stimulus. Shares surged in Paris, Frankfurt, London and Tokyo. New York futures and oil prices also advanced. The Fed said it would likely raise interest rates

By RAF CASERT Associated Press BRUSSELS (AP) — European Union leaders are holding a summit focused on preventing a Russian military invasion of neighboring Ukraine. A Russian troop buildup on Ukraine’s border took center stage at the summit of the EU’s 27 leaders on Thursday after Ukraine’s president pleaded for more sanctions to be imposed