AP National Business

By FRANK JORDANS Associated Press BERLIN (AP) — Germany is taking control of three Russian-owned refineries to ensure energy security before a European Union embargo on oil from Russia takes effect next year. German officials said Friday that two subsidiaries of Russian oil giant Rosneft would be put under the administration of a German government

By JOE McDONALD AP Business Writer BEIJING (AP) — Chinese official data show consumer spending and factory output improved in August but were still weak. Forecasters warned the world’s second-largest economy is vulnerable to disruption from repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower. That adds to a

BERLIN (AP) — The German government says it is taking control of Russian oil giant Rosneft’s subsidiary in Germany, citing the need to ensure continued operations at three oil refineries in the country. The Economy Ministry said Friday that Rosneft Deutschland and RN Refining & Marketing will be put under the control of Germany’s Federal

By FRANK BAJAK AP Technology Writer Uber said Thursday that it reached out to law enforcement after a hacker apparently breached its network. A security engineer said the intruder provided evidence of obtaining access to crucial systems at the ride-hailing service. There was no indication that Uber’s fleet of vehicles or its operation was in

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock markets followed Wall Street lower on Friday after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might ease off more interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil edged higher. Wall Street’s benchmark S&P 500 index lost 1.1% on Thursday, adding

SAN FRANCISCO (AP) — Uber says it is responding to an unspecified “cybersecurity incident.” The San Francisco-based ride-hailing service said on Twitter Thursday night that it is in touch with law enforcement and will have updates as soon as they are available. The company confirmed in an email to The Associated Press Thursday night that

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Kanye West is breaking up with the Gap. An attorney for Kanye West, who goes by Ye, told The Associated Press that a letter has been sent to the clothing chain Thursday seeking to terminate the contract between Gap and West’s company, Yeezy. The clash

By ALEX VEIGA AP Business Writer FedEx is shuttering storefronts and corporate offices while putting off new hires in a belt-tightening drive brought on by drop-off in its global package delivery business. The company based in Memphis, Tennessee, warned it will likely miss Wall Street’s profit target for its fiscal first quarter that ended Aug.

By VASILISA STEPANENKO Associated Press IZIUM, Ukraine (AP) — Ukrainian authorities found a mass burial site near a recaptured northeastern city previously occupied by Russian forces, President Volodymyr Zelenskyy announced Thursday night. The grave was discovered close to Izium in the Kharkiv region. “The necessary procedures have already begun there. More information — clear, verifiable

By LINDSAY WHITEHRSUT Associated Press WASHINGTON (AP) — A top Justice Department official has announced new incentives for companies that cooperate with corporate criminal investigations and a $250 million Congressional budget request to expand its work. Deputy Attorney General Lisa Monaco said Thursday there has been a decline in the number of corporate criminal prosecutions

By DON THOMPSON Associated Press SACRAMENTO, Calif. (AP) — California will be the first state to require online companies to put kids’ safety first by barring them from profiling children or using personal information in ways that could harm children physically or mentally, Gov. Gavin Newsom said Thursday. “We’re taking aggressive action in California to

By ALEX VEIGA AP Business Writer FedEx Corp. is warnings that it will likely miss Wall Street’s first-quarter profit target and says it expects business conditions to further weaken in its fiscal second quarter amid weaker global volume. The package delivery company also scrapped its forecast for fiscal 2023 earnings. FedEx CEO Raj Subramaniam said

By JOSH BOAK and ZEKE MILLER Associated Press WASHINGTON (AP) — While President Joe Biden was quick to hail Thursday’s strike-averting rail agreement as a win for America, it was also a big win for him politically, allowing Democrats to sidestep what could have been an economic debacle before November’s midterm elections. Pressured to choose

By VASILISA STEPANENKO Associated Press IZIUM, Ukraine (AP) — Ukrainian authorities found a mass burial site near a recaptured northeastern city previously occupied by Russian forces, President Volodymyr Zelenskyy said Thursday night. “A mass grave of people was found in Izium in the Kharkiv region. The necessary procedures have already begun there. More information –

By MATT OTT AP Business Writer WASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 6.02% from

By DAVID KOENIG AP Airlines Writer Boeing is stuck with more than 100 planes that it can’t deliver to Chinese airlines, so it’s going to resell some of those planes to other customers. Company officials said Thursday they have waited long enough for permission to deliver new Boeing 737 Max jets to China, and they

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers Stocks gave up more ground Thursday, leaving major indexes on Wall Street deeper in the red for the week. The S&P 500 fell 1.1% after another wobbly day of trading. The benchmark index is now down 4.1% for the week following the biggest pullback for

By DAVID KOENIG AP Airlines Writer Boeing is stuck with more than 100 planes that it can’t deliver to Chinese airlines, so it’s going to resell those planes to other customers. Company officials said Thursday they have waited long enough for permission to deliver new Boeing 737 Max jets to China, and they can’t wait

By DAVID HAMILTON AP Technology Editor SAN FRANCISCO (AP) — A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as “the merge” is not going to do the trick by itself. With the change enacted late Wednesday, ethereum

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Adobe, Arconic fall; Humana, Danaher rise.