AP National Business

By ELAINE KURTENBACH and MATT OTT AP Business Writers Wall Street was poised to open with lower Monday as attention turns to this week’s decision by the Federal Reserve on interest rates and a week heavy with big tech earnings. Futures for the Dow Jones industrials slipped 0.6% and the S&P 500 fell 0.8% before

The Federal Reserve meets this week and announces its latest interest rate decision on Wednesday. Google’s parent, Alphabet, reports its latest financial results on Thursday. The Labor Department releases its closely watched monthly employment report on Friday.

BEIJING (AP) — China’s government has criticized U.S. controls on technology exports as a trade violation after Japan and the Netherlands agreed to join Washington in limiting Beijing’s access to materials to make advanced processor chips. The Foreign Ministry didn’t mention the latest development but accused Washington of abusing export controls and organizing other governments

By CHRIS MEGERIAN Associated Press WASHINGTON (AP) — Ulysses S. Grant was still president when workers finished the Baltimore and Potomac Tunnel, which connected Philadelphia and Washington through rail travel for the first time. But 150 years later, the tunnel that runs under some of Baltimore’s residential neighborhoods is more of a chokepoint than a

BEIJING (AP) — Chinese online retailer JD.com Inc. is closing its consumer e-commerce services in Indonesia and Thailand amid intense competition in Southeast Asia. Announcements on the two websites said JD.com will stop taking orders on Feb. 15 in both countries and end service the following month. The company said it will develop its cross-border

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Nissan and Renault have agreed to equalize the stakes they hold in each other, ironing out a source of conflict in the Japan-French auto alliance. The companies say Renault Group will transfer 28.4% of the Nissan shares it owns to a French trust, making its ownership

BEIJING (AP) — Chinese online retailer JD.com Inc. is pulling out of Indonesia and Thailand amid intense competition in Southeast Asia. Announcements on the two websites said JD.com will stop taking orders Feb. 15 in both countries and shut down the following month. The company gave no reason for the closures, but e-commerce vendors in

By GEIR MOULSON Associated Press BERLIN (AP) — Official figures show that Germany’s economy shrank by 0.2% in the fourth quarter compared with the previous three-month period. The performance by Europe’s biggest economy is worse than expected. The Federal Statistical Office said Monday that gross domestic product shrank for the first time since the first

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — European shares retreated Monday after a mixed session in Asia as attention turned to Wednesday’s decision by the Federal Reserve on interest rates. A report Friday showed that U.S. inflation is continuing to cool, raising hopes for a smaller increase that’s less painful than last year’s

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — World Bank economists say Myanmar’s economy grew 3% last year and will likely achieve the same pace in 2023, but still lags far behind where it stood before the army seized power in early 2021. The global lending agency issued a report Monday that estimates Myanmar’s

THE HAGUE, Netherlands (AP) — Dutch consumer electronics and medical equipment maker Philips said Monday it is cutting 6,000 jobs worldwide over the next two years as it revealed a net loss of 1.6 billion euros ($1.7 billion) in 2022, down from a net profit of 3.3 billion euros last year. The job losses come

By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Europe is taking another big step toward cutting its energy ties with Russia, banning imports of diesel fuel and other products made from crude oil in Russian refineries. The European Union ban takes effect Feb. 5 following its embargo on coal and most oil from

By KRUTIKA PATHI Associated Press NEW DELHI, India (AP) — India’s Adani Group, run by Asia’s richest man, has hit back at a report from U.S.-based short-seller Hindenburg Research, calling it “malicious,” “baseless” and full of “selective misinformation.” Shares in the conglomerate have suffered massive losses since Hindenburg issued its report alleging fraud and other

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Nissan and Renault have changed their mutual cross-shareholdings equal at 15%, ironing out a source of conflict in the Japan-French auto alliance, both sides said Monday. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say

By DEE-ANN DURBIN and AAMER MADHANI Associated Press WASHINGTON (AP) — Japan and the Netherlands have agreed to a deal with the U.S. to restrict China’s access to materials used to make advanced semiconductors. That’s according to a person familiar with the agreement who spoke to The Associated Press on Sunday but declined to be