AP National Business

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year even though consumers and businesses kept spending at a solid pace, the government reported Thursday in a slight downgrade of its previous estimate for the January-March quarter. Last quarter’s drop in the U.S. gross

By STAN CHOE AP Business Writer NEW YORK (AP) — Within the eight- and even nine-figure sums trumpeted for CEOs each year, just a small portion is actual cash. Last year, only a little more than a quarter of compensation for the typical CEO came from cash salary or bonus.  Instead, most of a CEO’s

By MAE ANDERSON AP Business Writer NEW YORK (AP) — Pay packages for the women who run S&P 500 companies jumped in 2021 as the economy recovered and stock prices and profits soared. Median pay for the women occupying the corner office rose 26% to nearly $16 million, according to the annual survey done by

The Associated Press For its annual analysis of CEO pay, The Associated Press used data provided by Equilar, an executive data firm. Equilar examined regulatory filings detailing the pay packages of 343 executives. Equilar looked at companies in the S&P 500 index that filed proxy statements with federal regulators between Jan. 1 and April 30,

The Associated Press Expedia’s Peter Kern and Advanced Micro Devices’ Lisa Su are among the top paid CEOs in the S&P 500 index. Median compensation for CEOs in the index of big U.S. companies climbed to $14.5 million last year, up 17.1%, according to an annual survey conducted for The Associated Press by Equilar. Atop

ISTANBUL (AP) — Turkey’s central bank kept its main interest rate unchanged for a fifth month running despite an annual inflation rate of nearly 70%. The bank said Thursday it would keep its policy rate “constant” at 14%. It argued inflation was driven by geopolitical developments and the “temporary effects of pricing formations.” The decision

NEW YORK (AP) — U.S. markets marched higher before the open, one day after details from the Federal Reserve’s latest meeting confirmed expectations of more interest rate hikes but no big surprises. On Wall Street, futures for the benchmark Dow Jones Industrial Average rose 0.8%, as did the S&P 500. Investors are uneasy over the

By ZEKE MILLER Associated Press WASHINGTON (AP) — The White House on Thursday announced more steps to make the antiviral treatment Paxlovid more accessible across the U.S. as it projects COVID-19 infections will continue to spread over the summer travel season. The nation’s first federally backed test-to-treat site is opening Thursday in Rhode Island, providing

By JILL LAWLESS and SYLVIA HUI Associated Press LONDON (AP) — The British government unveiled a multibillion-pound package Thursday to ease a severe cost-of-living squeeze, announcing the plan a day after Prime Minister Boris Johnson vowed to “move on” from a months-long scandal over parties in government buildings during COVID-19 lockdowns. Treasury chief Rishi Sunak

LISBON, Portugal (AP) — The Portuguese government has given its authorization for the sale of Chelsea by Roman Abramovich, who as a Portuguese passport holder needed its approval. The decision by Portugal was announced a day after the British government approved the sale of Chelsea by the sanctioned Russian oligarch to a consortium fronted by

By JAMEY KEATEN Associated Press DAVOS, Switzerland (AP) — German Chancellor Olaf Scholz expressed hopes Friday for global cooperation on climate change, hunger and war, while dozens of climate activists demonstrated in the Swiss town of Davos as a meeting of global elites ended with many words but little concrete action to solve the world’s

KYIV, Ukraine (AP) — Russia pressed Thursday for the West to lift sanctions imposed because of its war in Ukraine, claiming without proof that the punitive measures are preventing millions of tons of grain and other agricultural products from leaving Ukrainian ports, exacerbating a global food crisis. Ukraine is one of the world’s largest exporters

By LLAZAR SEMINI Associated Press TIRANA, Albania (AP) — The office of Albania’s prime minister says the country has offered to NATO a naval base in an effort to highlight the tiny country’s value in the alliance “in these difficult times.” Prime Minister Edi Rama said Thursday Pashaliman naval base, 180 kilometers (110 miles) south

By JOE McDONALD AP Business Writer BEIJING (AP) — Major global stock markets were mostly lower Thursday after notes from the Federal Reserve’s latest meeting confirmed expectations of more interest rate hikes but held no surprises to rattle investors. London, Tokyo, Hong Kong and Sydney declined. Frankfurt and Shanghai gained. Oil prices rose. Investors are

By ZEKE MILLER Associated Press WASHINGTON (AP) — The White House on Thursday announced more steps to make the antiviral treatment Paxlovid more accessible across the U.S. as it projects COVID-19 infections will continue to spread over the summer travel season. The nation’s first federally backed test-to-treat site is opening Thursday in Rhode Island, providing

By JAMEY KEATEN Associated Press DAVOS, Switzerland (AP) — After days of discussions about Russia’s war in Ukraine, a global food crisis, climate change and other hot-button issues, the World Economic Forum’s annual meeting was set to conclude Thursday with one of the highest-profile guests to journey to Davos: German Chancellor Olaf Scholz. The yearly

By FRANK JORDANS Associated Press BERLIN (AP) — Germany’s energy and climate minister says the Group of Seven wealthy nations can lead the way on ending the use of coal. Coal is a heavily polluting fossil fuel that’s responsible for a large chunk of global greenhouse gas emissions. Senior officials from the G-7 countries are

SARAJEVO, Bosnia-Herzegovina (AP) — British Foreign Secretary Liz Truss is visiting Sarajevo to reaffirm the U.K.’s commitment to peace and stability in Bosnia amid growing fears of malign influence from Russia in the ethnically-divided Balkan country. The U.K. Foreign Office said in a statement that Truss’ one-day trip on Thursday will include meeting with top