LONDON (AP) — Mideast carrier Emirates on Thursday rejected a demand by London’s Heathrow Airport for airlines to cut the number of passengers on summer flights in a bid to ease travel disruptions, calling it an “entirely unreasonable and unacceptable” move that shows “blatant disregard for customers.” In a blistering statement, the airline accused Heathrow’s…
WASHINGTON (AP) — Christopher Waller, a member of the Federal Reserve’s Board of Governors, said Thursday that he would be open to supporting a huge 1 percentage point increase in the Fed’s key short-term interest rate later this month if upcoming economic data points to robust consumer spending. Such an increase would mark a further…
WASHINGTON (AP) — Average long-term U.S. mortgage rates were back up this week, just as the latest government data shows inflation has not slowed, meaning the Federal Reserve is almost certain to raise its benchmark borrowing rate later this month. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.51% from 5.30%…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits last week hit its highest level in nearly 8 months, but the total number of those collecting benefits fell. Applications for jobless aid for the week ending July 9 rose by 9,000 to 244,000, up from the previous week’s 235,000, the Labor Department reported…
NEW YORK (AP) — Profits at JPMorgan Chase fell by 28% in the second quarter as the bank tries to navigate an economy that’s showing strength in many areas but losing steam as interest rates continue to rise, hitting consumers and corporations alike. The nation’s largest bank by assets said Thursday that it earned a…
WASHINGTON (AP) — Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy. The Labor Department reported Thursday that the U.S. producer price index — which measures inflation before it hits consumers — rose at the fastest pace…
BERLIN (AP) — Local officials with German Chancellor Olaf Scholz’s party met Thursday to consider calls to expel former Chancellor Gerhard Schroeder, but reached no immediate decision. Schroeder’s longstanding ties to the Russian energy sector and refusal to distance himself fully from President Vladimir Putin after Russia invaded Ukraine have left his political standing in…
BEMPOSTA, Portugal (AP) — More than 3,000 firefighters battled alongside ordinary Portuguese citizens desperate to save their homes from several wildfires that raged across the European country on Thursday, fanned by extreme temperatures and drought conditions linked to climate change. The central part of the country has been particularly hard hit by a spate of…
LONDON (AP) — Amazon, seeking to resolve two European Union antitrust investigations, has promised to treat third-party merchants on its website fairly, the bloc’s competition watchdog said Thursday. The U.S. online retail giant offered to make a number of commitments to ease competition concerns, and the European Commission, the 27-nation bloc’s top antitrust enforcer, said…
BANGKOK (AP) — U.S. Treasury Secretary Janet Yellen has urged leaders of major economies to work more closely in countering the impact from Russia’s invasion of Ukraine. Yellen and other top financial officials from the Group of 20 leading rich and developing nations are gathering on the Indonesian island of Bali for meetings that begin…
