AP National Business

By JILL LAWLESS Associated Press Writer LONDON (AP) — Conservative Party lawmakers in Britain are casting ballots in the first round of an election to replace Prime Minister Boris Johnson. The internal party contest will replace the flamboyant, scandal-ridden Johnson with a new and much lesser-known prime minister. Eight candidates have secured the required backing

By MICHAEL CANTU Edmunds If you’re in the market for a pickup truck, you might be considering a hybrid model with today’s sky-high gas prices. These trucks have a gasoline-powered engine that’s augmented with electric motors and a battery to help improve fuel economy. But there are nuances to each automaker’s hybrid systems. The experts

By OLEKSANDR STASHEVSKYI, HANNA ARHIROVA and MARIA GRAZIA MURRU Associated Press Kyiv, Ukraine (AP) — The Ukrainian foreign minister says grain exports from his country’s ports won’t resume without security guarantees for ship owners, cargo owners and Ukraine as an independent nation. Military officials from Russia and Ukraine held their governments’ first face-to-face talks in

LONDON (AP) — Britain’s economy showed unexpectedly strong growth in May, with the three major components of production— manufacturing, construction and services — all posting gains. The Office for National Statistics said Wednesday that gross domestic product expanded 0.5% in the month, compared with economic forecasts of about 0.1%. GDP declined 0.2% in April. But

GENEVA (AP) — The World Economic Forum reports that a cost-of-living crisis sparked in part by higher fuel and food prices is expected to hit women the hardest. The think tank behind the annual gathering of elites in the Swiss Alpine town of Davos says a hoped-for recovery from a ballooning gender gap hasn’t materialized

By AYSE WIETING and SUZAN FRASER Associated Press ISTANBUL (AP) — Military officials from Russia and Ukraine were set to hold their governments’ first face-to-face talks in months Wednesday during a session in Istanbul devoted to a United Nations plan to export blocked Ukrainian grain to world markets through the Black Sea. Turkish military officials

By JOE McDONALD AP Business Writer BEIJING (AP) — China’s monthly trade surplus soared to a record $97.9 billion in June as exports picked up after the easing of anti-virus controls that shut down Shanghai and disrupted trade. Customs data showed exports rose 17.9% to $331.2 billion, up from May’s 16.9% growth. Imports edged up

By KRISHAN FRANCIS and KRUTIKA PATHI Associated Press COLOMBO, Sri Lanka (AP) — Sri Lanka’s president fled the country early Wednesday, slipping away only hours before he promised to resign under pressure from protesters enraged by a devastating economic crisis. But the crowds quickly trained their ire on the prime minster, storming his office and

By JILL LAWLESS Associated Press LONDON (AP) — The race to succeed Prime Minister Boris Johnson is being called Britain’s most diverse political leadership campaign. Half of the eight contenders to replace Johnson as Conservative Party leader aren’t white, and only two are white men. But if the contenders reflect the face of modern Britain,

COLOMBO, Sri Lanka (AP) — Sri Lanka’s president, who had announced he would resign Wednesday, has fled the country after months of turmoil culminated in protesters converging on the presidential palace. Here’s what’s happening in Sri Lanka: — The country is hurtling toward bankruptcy — Daily essentials including food and medicine are scarce — Political

WELLINGTON, New Zealand (AP) — New Zealand’s central bank has lifted its benchmark interest rate by half a percentage point to 2.5% as it attempts to curb inflation. Wednesday was the third time this year that the Reserve Bank of New Zealand has lifted the cash rate by 50 basis points, following hikes in April

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — U.S. inflation likely reached a new 40-year high in June, driven up by a spike in gas costs, more expensive food and rent, and pricier cars and hotel rooms. A government report Wednesday is expected to show that consumer prices soared 8.8% in June compared with

By FATIMA HUSSEIN Associated Press WASHINGTON (AP) — With thousands of sanctions already imposed on Russia to flatten its economy, the U.S. and its allies are working on new measures to starve the Russian war machine while also stopping the price of oil and gasoline from soaring to levels that could crush the global economy.

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock markets gained while Europe opened lower Wednesday ahead of U.S. inflation data that some investors worry might lead to more interest rate hikes. Wall Street futures were lower. Oil prices rose $1 per barrel, rebounding from Tuesday’s plunge. Investors were waiting for U.S. data

By EDITH M. LEDERER Associated Press UNITED NATIONS (AP) — Brazil’s foreign minister says the country wants to buy as much diesel fuel as it can from Russia following a deal with Moscow. Carlos França called Russia “a strategic partner” and said Tuesday that Brazil is in short supply of diesel. He says Brazil has

By MORGAN LEE Associated Press SANTA FE, N.M. (AP) — Physicians and researchers are urging New Mexico legislators to allow the use of psychedelic mushrooms in mental health therapy aimed at overcoming depression, anxiety, psychological trauma and alcoholism. A legislative panel on Tuesday was scheduled to hear a proposed legal framework to establish access to

By KRISHAN FRANCIS and KRUTIKA PATHI Associated Press COLOMBO, Sri Lanka (AP) — The president of Sri Lanka fled the country early Wednesday, slipping away in the middle of the night only hours before he was to step down amid a devastating economic crisis that has triggered severe shortages of food and fuel. President Gotabaya

By AMANDA SEITZ Associated Press Washington (AP) — A Twitter employee testified that he spent a sleepless night on Jan. 5, 2021, worrying that people might die the next day during a rally that former President Donald Trump regularly promoted with angry rhetoric on his social media accounts. The Twitter employee raised repeated concerns with

By MATT O’BRIEN Associated Press Twitter sued Tesla CEO Elon Musk on Tuesday, trying to force him to complete his $44 billion takeover of the social media company by accusing him of “outlandish” and “bad faith” actions that have caused the platform irreparable harm and “wreaked havoc” on its stock price. Back in April, Musk