AP National Business

By JAMEY KEATEN Associated Press DAVOS, Switzerland (AP) — Ukrainian President Volodymyr Zelenskyy told political leaders at the World Economic Forum meeting in Davos that supplies of Western weapons must come quicker than Russia’s attacks, urging the world to move faster because “tragedies are outpacing life; the tyranny is outpacing democracy.” Zelenskyy, speaking by video

NICOSIA, Cyprus (AP) — A government spokesperson says Cyprus has stripped 222 wealthy investors and their family members of citizenship. The revocations are part of efforts to mend a reputation sullied by an investment-for-passports program that an inquiry found had unlawfully granted citizenships in hundreds of instances. The government spokesperson said Wednesday that the 222

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Sales growth for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nation’s largest retail trade group. The National Retail Federation said Wednesday that holiday

By JILL LAWLESS Associated Press LONDON (AP) — British Prime Minister Rishi Sunak is pushing ahead with a contentious plan to remove all remaining European Union laws from Britain’s statute book by the end of the year. Critics say the move is rash and unworkable. Thousands of pieces of EU law were cut-and-pasted into U.K.

By ERIC TUCKER and JOSH BOAK Associated Press WASHINGTON (AP) — A Russian national who founded a cryptocurrency exchange the Justice Department says evaded U.S. regulations and became a haven for proceeds of criminal activity has been arrested. Federal officials say Anatoly Legkodymov was arrested Tuesday in Miami and was due in court Wednesday on

WASHINGTON (AP) — The U.S. government is fining British airline Virgin Atlantic up to $1.05 million for flying over restricted airspace in Iraq. The U.S. says the flights violated U.S. restrictions because Virgin Atlantic was flying the planes under a so-called code-sharing deal with U.S. carrier Delta Air Lines. The U.S. Transportation Department says the

By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — Stocks gave up early gains and fell in midday trading on Wall Street Wednesday as investors review the latest updates on retail sales, inflation and company earnings. The S&P 500 fell 0.8% as of 11:41 a.m. Eastern. The benchmark index rose as much as

CAMDEN, N.J. (AP) — Campbell’s Soup Co. plans to spend about $50 million to upgrade of its headquarters in New Jersey as it consolidates the central offices of snacks businesses from North Carolina and Connecticut. The company announced Wednesday it will add about 330 positions at the site in Camden, bringing the total jobs there

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Federal Reserve Chair Jerome Powell tested positive Wednesday for COVID-19 and is experiencing “mild symptoms,” the Federal Reserve announced. Powell, 69, is “up to date” with all COVID vaccines and boosters, the Fed said, and is working from home. “Following Centers for Disease Control and Prevention

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell 1.1% in December, following a revised 1% drop

By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — Stocks mostly rose in morning trading Wednesday on Wall Street as investors review the latest updates on retail sales, inflation and company earnings. The S&P 500 rose 0.5% as of 10:13 a.m. Eastern. The Dow Jones Industrial Average rose 9 points, or less than

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Growing evidence that high inflation is finally easing shows that the Federal Reserve’s sharp interest rate hikes are working as intended, says Loretta Mester, a key Fed policymaker. But further rate hikes are still needed, she says, to decisively crush the worst inflation bout in four

By MATT O’BRIEN AP Technology Writer Microsoft is cutting 10,000 workers, almost 5% of its workforce, joining other tech companies that have scaled back their pandemic-era expansions. The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.” The Redmond, Washington-based software giant said it

By MICHAEL LIEDTKE AP Technology Writer SAN FRANCISCO (AP) — Opening statements begin Wednesday in a trial that will determine whether Tesla CEO Elon Musk cheated investors by asserting in 2018 tweets that he had lined up financing to take the electric automaker private. A nine-person jury was seated Tuesday for the case that is

NEW YORK (AP) — Stocks are opening modestly higher on Wall Street as trading remains unsteady following two solid weekly gains. The S&P 500 was up 0.3% in the early going Wednesday, and the Nasdaq was up 0.6%. The Dow Jones Industrial Average was barely higher. Treasury yields were lower after the government reported that

Associated Press Microsoft is cutting 10,000 workers, almost 5% of its workforce, in response to “macroeconomic conditions and changing customer priorities.” The company said in a regulatory filing Wednesday that had just notified employees of the layoffs, some of which begin immediately. The company said it will also be making changes to its hardware portfolio

By MARI YAMAGUCHI Associated Press TOKYO (AP) — A Japanese court has found three former utility company executives not guilty of negligence over the 2011 Fukushima nuclear power plant disaster and the subsequent deaths of more than 40 elderly residents during their forced evacuation. The Tokyo High Court upheld a 2019 lower court decision that

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight slowdown and a hopeful sign that inflation pressures will continue to cool. The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7%