DALLAS (AP) — American Airlines earned $476 million in the second quarter on record revenue from summer travelers and said Thursday that it expects to remain profitable in the third quarter. It was American’s first quarterly profit without government pandemic aid in the COVID-19 era. While revenue from leisure travelers is soaring, so are costs,…
MADRID (AP) — Europe’s recent spate of wildfires abated amid cooler temperatures Thursday, with no outbreaks reported in Portugal while French firefighters started to get the upper hand over two major blazes and Spain tamed a fire that killed two people last weekend. Spanish firefighters were tackling nine blazes, with two said to be especially…
FRANKFURT, Germany (AP) — The European Central Bank raised interest rates Thursday for the first time in 11 years by a larger-than-expected amount, joining steps already taken by the U.S. Federal Reserve and other major central banks to target stubbornly high inflation. The move raises new questions about whether the rush to make credit more…
LONDON (AP) — The two candidates to become Britain’s next prime minister began a head-to-head battle on Thursday for the votes of Conservative Party members who will choose the country’s new leader. Former Treasury chief Rishi Sunak is promising fiscal prudence, while Foreign Secretary Liz Truss is offering immediate tax cuts to the right-of-center governing…
BRUSSELS (AP) — The European Union imposed more sanctions on Russia over the war in Ukraine on Thursday after the bloc’s 27 members backed measures that include a ban on gold imports and tighter export controls on some high-technology goods. European Commission Ursula von der Leyen said the “reinforced, prolonged EU sanctions against the Kremlin”…
HONG KONG (AP) — China’s internet watchdog on Thursday fined ride-hailing firm Didi Global more than 8 billion yuan ($1.2 billion) following an investigation into the company’s cybersecurity practices. The probe found Didi violated China’s network security law, data security law and a law protecting personal information, the Cyberspace Administration of China said in a…
ROME (AP) — Italian Premier Mario Draghi resigned Thursday after key coalition allies boycotted a confidence vote, signaling the likelihood of an early election and a renewed period of uncertainty for Italy and Europe at a critical time. Draghi tendered his resignation to President Sergio Mattarella during a morning meeting at the Quirinale Palace. Mattarella,…
TOKYO (AP) — Japan’s trade deficit for the first half of this year totaled nearly 8 trillion yen ($58 billion), because of surging oil prices and a sinking yen, brought on partly by the war in Ukraine, and weaker global demand. The deficit for the period from January through June marked the second consecutive half-year…
BANGKOK (AP) — Asian shares were mostly higher on Friday after another day of gains on Wall Street amid a deluge of news about the economy, interest rates and corporate profits. Tokyo, Hong Kong and Sydney advanced while Seoul and Shanghai declined. U.S. futures edged lower while oil prices rose. Japan reported its inflation rose…
The message to U.S. lawmakers from Ukraine’s first lady, delivered amid stark and graphic images of civilian bloodshed, couldn’t have been clearer: After nearly five full months since Russia launched its invasion, Olena Zelenska said that her country needs more Western weapons. Ukrainian President Volodymyr Zelenskyy sent her to Washington to appeal directly to U.S….
