AP National Business

By LIZ WESTON of NerdWallet Good savers who take full advantage of their 401(k) plans and other tax-deductible retirement plans could be setting themselves up for unnecessarily high tax bills in retirement. This tax bomb could be set off because the retiree’s withdrawals will be taxable, and required minimum distributions could even force them into

By DANICA KIRKA Associated Press LONDON (AP) — Teachers in England have rejected the government’s latest pay offer, raising the specter of more strikes and further disruptions for parents and children as double-digit inflation sparks labor unrest across the country. News that teachers had voted to reject the offer came as U.K. passport workers kicked

By COLLEEN LONG Associated Press FRIDLEY, Minn. (AP) — President Joe Biden is set to tour a clean energy technology manufacturer in Minneapolis as part of his effort to highlight his investment agenda before an expected reelection campaign. He plans to highlight job growth and investments nationwide while pushing clean energy and manufacturing in the

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Oil prices soared nearly 6% on Monday after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May until the end of the year. Shares in Asia were mixed. U.S. benchmark crude oil rose $4.24 to

GENEVA (AP) — The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS. Switzerland’s government and financial regulators helped engineer the hastily arranged, $3.25 billion agreement that will leave the country with a single huge global bank.

LONDON (AP) — British passport office workers have kicked off a five-week strike, becoming the the latest group of civil servants to demand a pay raise in response to double-digit inflation. The action threatened to cause headaches for travelers ahead of the summer holiday season. The walkout by some 1,000 members of the Public and

NEW YORK (AP) — A report says McDonald’s has closed its U.S. offices for a few days as the company prepares to inform employees about layoffs. The Wall Street Journal cited an internal email from the Chicago-based fast-food giant saying U.S. corporate staff and some employees overseas should work from home while the company notifies

By FARNOUSH AMIRI Associated Press WASHINGTON (AP) — Rep. Jeff Jackson of North Carolina has used it to explain the complex fight over raising the debt limit. Rep. Robert Garcia of California has used it to engage with members of the LGBTQ+ community. And Sen. Bob Casey of Pennsylvania has used it to give an

By JOHN LEICESTER and HELENA ALVES Associated Press PARIS (AP) — Parisians have overwhelmingly voted to banish the French capital’s ubiquitous for-hire electric scooters from their streets. The 15,000 opinion-dividing mini-machines are now expected to vanish from central Paris at the end of August when the city’s contracts with the three operators expire. The question

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Business sentiment among big Japanese manufacturers worsened in the first quarter of this year. That’s according to a Bank of Japan survey of business sentiments called “tankan.” It was the fifth straight decline in manufacturers’ sentiments in the quarterly survey. The central bank’s survey released Monday

DUBAI, United Arab Emirates (AP) — Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country

By TOM KRISHER AP Auto Writer DETROIT (AP) — Tesla’s first-quarter vehicle sales rose 36% after the company cut prices twice in a bid to stimulate demand. The electric car, SUV and heavy truck maker said it delivered 422,875 vehicles worldwide from January to March. That’s up from just over 310,000 a year ago. According

By The Associated Press Twitter has removed the verification check mark on the main account of The New York Times, one of CEO Elon Musk’s most despised news organizations. The removal comes as many of Twitter’s high-profile users are bracing for the loss of the blue check marks that helped verify their identity and distinguish

DUBAI, United Arab Emirates (AP) — Saudi Arabia said Sunday it will cut oil production by 500,000 barrels per day from May until the end of 2023, a move that could raise prices worldwide. Higher oil prices would help fill Russian President Vladimir Putin’s coffers as his country wages war on Ukraine and force Americans

By ABBY SEWELL and YASMINE MOSIMANN BEIRUT (AP) — Authorities in Iraq’s semi-autonomous northern region say they have reached a deal with the central government in Baghdad that will allow oil exports from the Kurdish region by way of Turkey to resume. The agreement announced on Sunday comes after an arbitration process by the International

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Companies from toothpaste makers to even discounters are adding more premium items like designer body creams and services as they reach out to wealthier shoppers who are still spending freely even in the face of higher inflation and a volatile economic environment. Think $10 toothpastes