AP National Business

By MATTHEW PERRONE AP Health Writer WASHINGTON (AP) — Altria reports its nearly $13 billion investment in troubled vaping company Juul is worth 95% less than it originally paid. The tobacco giant on Thursday said its stake in the e-cigarette maker is now worth less than $500 million after U.S. regulators announced plans to ban

By KEN SWEET AP Business Writer NEW YORK (AP) — The head of the nation’s financial watchdog is having second thoughts about using fines to deter illegal behavior in the financial industry, saying some companies have gotten so big that the money makes little difference. In an interview with The Associated Press, Rohit Chopra signaled

By MICHELLE CHAPMAN AP Business Writer JetBlue has agreed to buy Spirit Airlines for $3.8 billion in a deal that would create the nation’s fifth largest airline if approved by U.S. regulators. The agreement Thursday comes a day after Spirit’s attempt to merge with Frontier Airlines fell apart. Spirit had recommended its shareholders approve a

By The Associated Press Merck is posting second-quarter sales that easily topped Wall Street expectations, boosted by sales growth of some of its key drugs. Profit was $3.94 billion in the period, or $1.87 per adjusted share, easily beating the $1.70 that analysts surveyed by data firm FactSet expected. Sales of $14.6 billion, 28% higher

Associated Press JetBlue is buying Spirit Airlines in a $3.8 billion deal, a day after Spirit and Frontier Airlines agreed to abandon their merger proposal. JetBlue will acquire Spirit for $33.50 per share in cash, including a prepayment of $2.50 per share in cash payable once Spirit stockholders approve the transaction. There’s also a ticking

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Shares slipped in Europe on Thursday after gains in most Asian markets following an interest rate hike by the Federal Reserve. U.S. futures fell, while oil prices jumped more than $1 a barrel. The Fed’s latest hike, by three-quarters of a percentage point, lifts the benchmark

AMSTERDAM (AP) — Automaker Stellantis has reported higher earnings in the first half of 2022 compared with last year, pointing to a nearly 50% increase in global sales of battery electric vehicles. The world’s fourth-largest automaker says net revenue reached 88 billion euros. That’s a 17% increase from the first half of last year. Net

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Japanese automaker Nissan says its profit in the last quarter plunged to less than half of what it was a year earlier, as the COVID-19 lockdown in China and a global semiconductor shortage slammed production. Nissan’s April-June net profit totaled 47.1 billion yen, or $349 million,

By ROD McGUIRK Associated Press CANBERRA, Australia (AP) — An Australian judge has ordered Samsung to pay $9.8 million in penalties for misleading advertising over how water-resistant some models of smartphones are. Justice Brendan Murphy on Thursday gave South Korea-based Samsung’s Australian subsidiary 30 days to pay the fines. Samsung admitted to making false and

SEOUL, South Korea (AP) — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips. The world’s top producer of smartphones and memory chips said in a statement Thursday that its operating profit for the last quarter rose to 14.1 trillion won ($10.8 billion)

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — After going backward from January through March, the U.S. economy probably didn’t do much better in the spring. On Thursday morning, the government will reveal just how weak economic growth was in the April-June quarter — and perhaps offer clues about whether the United States may

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Japan’s push to obtain UNESCO World Heritage recognition for a former gold mine key to the nation’s industrialization will be delayed. The Sado Island mine in northern Japan operated for nearly 400 years and was once the world’s largest gold producer before closing in 1989. But the

By ROD McGUIRK Associated Press CANBERRA, Australia (AP) — New forecasts by Australia’s government say runaway inflation will remain unacceptably high for the next two years and economic growth will slow without falling into recession. Treasurer Jim Chalmers outlined to Parliament on Thursday a deterioration in the country’s economic outlook since a new government was

By ELAINE KURTENBACH AP Business Writer BANGKOK (AP) — Shares were mostly higher in Asia on Thursday after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point. Hong Kong’s benchmark Hang Seng index slipped 0.1% to 20,642.80 after the territory’s Monetary Authority matched the

By ED DAVEY Associated Press A new report by says many of the world’s biggest banks are falling far short of aligning their practices with the Paris Agreement goal of limiting the Earth’s warming to 1.5 degrees Celsius above pre-industrial levels. The evaluation of 27 giant banks, obtained by The Associated Press, was carried out