AP National Business

By ELAINE KURTENBACH AP Business Writer Asian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. Tokyo’s benchmark Nikkei 225 lost 2.8% in early trading Wednesday, to 27,816.58, while Sydney’s S&P/ASX 200 declined 2.5% to

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — Business and government officials are bracing for the possibility of a nationwide rail strike at the end of this week while talks carry on between the largest U.S. freight railroads and their unions. The railroads have already started to curtail shipments of hazardous materials and

SAN ANTONIO (AP) — Lowry Mays, whose accidental purchase of a San Antonio radio station  propelled him into the nation’s largest owner of radio stations, has died. Texas A&M University, Mays’ alma mater and site of the Lowry Mays College & Graduate School of Business, announced Mays died Monday at age 87. The statement didn’t

By DAVID BAUDER AP Media Writer NEW YORK (AP) — The Emmy Awards hit a new low in viewership on Monday night, with its estimated audience of 5.9 million people even smaller than the COVID-19-disrupted ceremony two years ago. The Nielsen company said the ceremony honoring television’s best work, where “Ted Lasso” was named best

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Tuesday: Peloton, Unity Software fall; Cheniere, Core & Main rise.

The Associated Press The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped. The Dow lost more than 1,250 points and the S&P 500 sank 4.3%. A hotter-than-expected report on inflation Tuesday has traders bracing for the Federal Reserve to ultimately raise

By WAYNE PARRY Associated Press ATLANTIC CITY, N.J. (AP) — Whether casinos should continue to allow smoking is a contentious issue in numerous states, particularly New Jersey, where the governor and more than half the state Legislature supports a bill to ban indoor smoking in gambling halls. A now-cancelled discussion between a casino executive and

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy. The S&P 500 sank 4.3%, its

By MARCY GORDON, MATT O’BRIEN and BARBARA ORTUTAY AP Business Writers WASHINGTON (AP) — Twitter’s former security chief told Congress Tuesday there was “at least one agent” from China’s intelligence service on Twitter’s payroll and that the company knowingly allowed India to add agents to the company roster as well, potentially giving those nations access

By ZEKE MILLER and JOSH BOAK Associated Press WASHINGTON (AP) — President Joe Biden has gathered a crowd at the White House to celebrate last month’s passage of the Inflation Reduction Act. But that’s as a new government report on Tuesday showed how hard it could be to return inflation to prepandemic levels. Despite its

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — The Dow Jones Industrial Average sank more than 1,000 points Tuesday as markets shuddered following Wall Street’s realization that inflation isn’t slowing as much as hoped. The sell-off knocked the benchmark S&P 500 3.7% lower in afternoon trading, threatening to snap a

MIRAMAR, Fla. (AP) — Spirit shareholders have a date for voting on the sale of their airline to JetBlue for about $3.7 billion. Spirit said in a regulatory filing that the vote will happen on Oct. 19. Voting will be open to anyone who owned Spirit shares on Monday. Even if shareholders approve the deal,

By PATRICK WHITTLE Associated Press PORTLAND, Maine (AP) — Maine’s governor says the federal government is moving ahead too quickly with potential new restrictions on the lobster fishing industry, and isn’t taking the industry’s concerns about the changes into account. The National Oceanic and Atmospheric Administration recently announced it was seeking input on new rules

By EDITH M. LEDERER Associated Press UNITED NATIONS (AP) — The U.N. says food exports from Ukraine and Russia have increased since a July 22 grain deal, but critically needed fertilizer exports from Russia are still down despite the agreement. Insurance, financing and shipping remain issues. U.N. trade chief Rebeca Grynspan, said Tuesday that Russia

By DEE-ANN DURBIN AP Business Writer Starbucks plans to spend $450 million next year to make its North American stores more efficient and less complex. The company also said it plans to open 2,000 net new stores in the U.S. by 2025. The emphasis will be on meeting the growing demand for drive-thru and delivery.

ARLINGTON, Va. (AP) — Boeing says it took net orders for 26 planes and delivered 35 planes in August. Boeing said Tuesday that the deliveries included a 787 jet to Germany’s Lufthansa and another to Dutch national carrier KLM. Boeing was unable to deliver 787s for most of the last two years because of production

By MARCY GORDON AP Business Writer WASHINGTON (AP) — The former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk. Peiter “Mudge” Zatko, a respected cybersecurity expert,

By NICOLAS GARRIGA and BARBARA SURK Associated Press PARIS (AP) — Paris will start turning off lights on the Eiffel Tower and other iconic monuments to save energy. Mayor Anne Hidalgo said Tuesday that the Eiffel Tower that is normally illuminated until 1 a.m. will be plunged into darkness an hour and 15 minutes earlier.