AP National Business

By LORNE COOK and SAMUEL PETREQUIN Associated Press BRUSSELS (AP) — The European Union’s groundbreaking decision to ban nearly all oil from Russia to punish the country for its invasion of Ukraine is a blow to Moscow’s economy, but its effects may be blunted by rising energy prices and other countries willing to buy some

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — Stocks closed lower Tuesday and the market eked out a tiny gain for May, a fitting end to a tumultuous month as worries about a possible recession, inflation and rising interest rates bruised Wall Street. The S&P 500 fell 0.6%, having recouped

By DAVID KOENIG AP Airlines Writer The unofficial start of summer over the Memorial Day weekend offers a troubling glimpse of what lies ahead for travelers during the peak vacation season. U.S. airlines canceled more than 2,800 flights from Thursday through Monday, or about 2% of their schedules, according to tracking service FlightAware. Delta Air

By STAN CHOE AP Business Writer NEW YORK (AP) — U.S. stocks are falling Tuesday as Wall Street nears the end of a tumultuous month, bruised by worries about a possible recession, inflation and rising interest rates. The S&P 500 was 0.9% lower in midday trading. The Dow Jones Industrial Average was down 270 points,

By ZEKE MILLER, JOSH BOAK and CHRISTOPHER RUGABER Associated Press WASHINGTON (AP) — President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks and the president’s public approval. Tuesday’s meeting is the first since Powell was renominated in November by Biden to

By MATT OTT AP Business Writer SILVER SPRING, Md. (AP) — U.S. consumer confidence edged lower in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation. The Conference Board said Tuesday that its consumer confidence index dipped to 106.4 in May — still a strong reading —

By MATT OTT AP Business Writer SILVER SPRING, Md. (AP) — U.S. consumer confidence edged down in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation. The Conference Board said Tuesday that its consumer confidence index dipped to 106.4 in May from 108.6 in April. The business

By STAN CHOE AP Business Writer NEW YORK (AP) — U.S. stocks are falling Tuesday as Wall Street nears the end of a tumultuous month, bruised by worries about a possible recession, inflation and rising interest rates. The S&P 500 was 1.1% lower in early trading. The Dow Jones Industrial Average was down 421 points,

TOKYO (AP) — Japan’s parliament has enacted a $21 billion extra budget to tackle soaring fuel and food prices following Russia’s invasion of Ukraine. The extra budget is for the current fiscal year that started April 1 and will fund part of a $48 billion emergency economic package that the government adopted in April, including

NEW YORK (AP) — Stocks are opening lower on Wall Street and crude oil prices are rising sharply after European leaders agreed to cut nearly all imports of oil from Russia over the next six months. Energy stocks were the lone sector to rise in early trading on Tuesday as the price of U.S. crude

MADRID (AP) — Tired of speaking to a machine when you call the bank or power company? Spain’s government wants to end those nerve-shattering, one-sided conversations with a computerized answering service by making it obligatory for companies to offer a real, flesh-and-blood customer service worker when so requested by a caller. That is one among

By MARI YAMAGUCHI Associated Press TOKYO (AP) — A Japanese court has ordered a utility not to restart a nuclear power plant because of inadequate tsunami safeguards, backing the safety concerns of residents. The government has been pushing for more nuclear reactors to resume generating power after pledging to ban imports of Russian fossil fuels.

Associated Press NEW YORK (AP) — U.S. markets headed lower before Tuesday’s opening bell after the European Union agreed to embargo most Russian oil imports by the year’s end, sparking a fresh spike in oil prices. Futures for the Dow Jones Industrial Average slipped 0.6%, and the S&P 500 ticked down 0.5%. Oil prices, up

BERLIN (AP) — Authorities in Germany have raided the offices of Deutsche Bank and its subsidiary DWS following claims that it was exaggerating the sustainable credentials of some of the products it sold. Frankfurt prosecutors said the probe focused on allegations of investment fraud, but no specific suspects had been identified yet. A former manager

By COLIN BERESFORD of NerdWallet Car prices have skyrocketed in the last year, making it an even bigger challenge to shop for your first car. With rising prices, average loan terms are getting longer and average monthly payments are continuously climbing. If first-time buyers step onto car lots unprepared, they can end up with a

By YURAS KARMANAU and ELENA BECATOROS Associated Press SLOVIANSK, Ukraine (AP) — Russian forces in a “frenzied push” have seized half of the eastern Ukrainian city of Sievierodonetsk, which is key to Moscow’s efforts to quickly complete the capture of the industrial Donbas region. The city’s mayor also told The Associated Press on Tuesday that

By LORNE COOK and SAMUEL PETREQUIN Associated Press BRUSSELS (AP) — In the most significant effort yet to punish Russia for its war in Ukraine, the European Union agreed to ban the overwhelming majority of Russian oil imports after tense negotiations that tested how far the bloc is willing to go to ostracize Moscow. From