AP National Business

By ALEX VEIGA AP Business Writer Stocks on Wall Street are solidly higher in afternoon trading Wednesday after the Federal Reserve raised its key interest rate by a widely expected three-quarters of a point as the central bank ratchets up its campaign to quell surging inflation. The Fed’s move, its second three-quarters of a point

By NOMAAN MERCHANT Associated Press WASHINGTON (AP) — First, her father was lured back to Rwanda under false pretenses and jailed. Then, months later, Carine Kanimba discovered her own phone had been hacked using private spyware. She’s the youngest daughter of Paul Rusesabagina, who’s credited with saving more than 1,200 lives during the 1994 Rwandan

Associated Press SALT LAKE CITY (AP) — A British resident aboard a flight from London to Los Angeles has been arrested on suspicion of assaulting crew members after the flight had to be diverted to Salt Lake City, authorities said. The Virgin Atlantic flight landed in Utah after William Stephen Hayes, 39, became upset mid-flight

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in more than three decades to tame high inflation. The Fed’s move will raise its key rate, which affects

By JOSH BOAK Associated Press The Congressional Budget Office says the end of pandemic-era spending, fast economic growth and higher tax revenues have caused the federal debt this year to be lower than forecast. But the non-partisan office also includes a warning in its 30-year outlook. Debt will soon spiral upward to new highs that

By LINDSAY WHITEHURST Associated Press WASHINGTON (AP) — Gun makers have taken in more than $1 billion from selling AR-15-style guns over the past decade, at times marketing them as a way for young men to prove their masculinity, even as the number of mass shootings increases, according to a House investigation unveiled Wednesday. The

By KEVIN FREKING Associated Press WASHINGTON (AP) — The Senate has passed a bill that’s designed to encourage more semiconductor companies to build chip plants in the United States. The $280 billion measure, which awaits a House vote, includes federal grants and tax breaks for companies that construct their chip facilities in the U.S. It

By ROBERT BUMSTED Associated Press NEW YORK (AP) — Ah, the bacon, egg and cheese. The classic bodega breakfast sandwich is a staple in many a New Yorker’s diet. It’s easy to make, easy to eat on the go and cheap — although not as cheap as it used to be. To keep up with

By DYLAN LOVAN Associated Press LOUISVILLE, Ky. (AP) — A federal judge has thrown out multimillion-dollar defamation lawsuits against five media companies brought by a Kentucky student. Nicholas Sandmann was a 16-year-old high school student when was involved in a 2019 viral encounter at the Lincoln Memorial in Washington. The lawsuits sought tens of millions

By KEN SWEET AP Business Writer NEW YORK (AP) — A Pennsylvania mortgage company owned by billionaire businessman Warren Buffett’s company discriminated against potential Black and Latino homebuyers in Philadelphia, New Jersey and Delaware, the Department of Justice said Wednesday, in what is being called the second-largest redlining settlement in history. Trident Mortgage Co., a

DES MOINES, Iowa (AP) — A giant Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers Tuesday night and won the top prize. The new estimated jackpot for Friday’s drawing will be the nation’s fourth-largest lottery prize. The jackpot has grown so large because no one has matched the

By MARK PRATT Associated Press Employees at a Trader Joe’s in Massachusetts are casting votes over the next two days in an attempt to form the supermarket chain’s first union. About 80 workers — or crew members in company parlance — at the Hadley store are scheduled to vote Wednesday and Thursday, said Maeg Yosef,

By MATTHEW PERRONE AP Health Writer WASHINGTON (AP) — The head of the Food and Drug Administration says a comprehensive review of the opioid painkillers that triggered the nation’s ongoing overdose epidemic is in the works. But FDA Commissioner Robert Califf faces skepticism about the long-promised review from lawmakers, experts and advocates after years of

By ANIRUDDHA GHOSAL Associated Press NEW DELHI (AP) — The head of the U.S. government aid agency has called on China to help Sri Lanka and other nations that had borrowed heavily from Beijing with debt restructuring, not just with lines of credit and emergency loans. Samantha Power, the administrator for the U.S. Agency for

By LINDSAY WHITEHURST Associated Press WASHINGTON (AP) — Gun manufacturers have made more than $1 billion from selling AR-15-style guns over the past decade, and for two companies those revenues have tripled over the past three years, according to a House investigation unveiled Wednesday. Those profits have come as the weapons have been used in

By KEN SWEET AP Business Writer NEW YORK (AP) — A Pennsylvania mortgage company owned by billionaire businessman Warren Buffett discriminated against potential Black and Latino homebuyers in Philadelphia, New Jersey and Delaware, the Department of Justice said Wednesday, in what they are calling the second-largest redlining settlement in history. Trident Mortgage Co., a division

By DAVID KOENIG AP Airlines Writer Spirit Airlines shareholders could pick a preferred buyer for their airline Wednesday, when they are scheduled to vote on one of the offers for the budget carrier. Shareholders appear to be leaning against the bid preferred by Spirit’s board, a merger offer from Frontier Airlines that is currently worth

By JOSH FUNK AP Business Writer OMAHA, Neb. (AP) — Railroads will be required to maintain two-person crews under a new rule announced Wednesday that will thwart the industry’s efforts to cut crews down to one person. Railroads will be required to keep using two-person crews in most circumstances as they haul all kinds of

By ALEX VEIGA AP Business Writer Stocks are solidly higher in afternoon trading Wednesday after strong earnings from Google’s owner Alphabet and Microsoft lifted investors’ mood. Wall Street is also waiting to hear from the Federal Reserve, which will likely raise interest rates at the end of its two-day meeting. The S&P 500 index was

By AYA BATRAWY Associated Press Shipping companies are not rushing to export millions of tons of grain trapped in Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea. That is because explosive mines are drifting in the waters, ship owners are assessing the risks and many still have questions over how