BEIJING (AP) — Asian stock markets rose Thursday despite a record-setting U.S. inflation report that pointed to more possible interest rate hikes that investors worry will chill economic growth. U.S. futures edged lower while oil prices advanced. Wall Street’s benchmark S&P 500 index lost 0.4% on Wednesday after data showed U.S. consumer inflation accelerated to…
WELLINGTON, New Zealand (AP) — New Zealand’s central bank on Wednesday lifted its benchmark interest rate by half a percentage point to 2.5% as it attempts to curb inflation. It 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…
WASHINGTON (AP) — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The government’s consumer price index soared 9.1% over the past year,…
MADRID (AP) — Spain’s second heat wave in less than a month and the year’s first for neighboring Portugal is expected to last at least until the weekend, weather forecasters said Tuesday. With temperatures in both countries already elevated, the outlook magnified wildfire worries. Portugal could get the highest temperatures. The central Alentejo region is…
A Moscow court on Tuesday fined Apple 2 million rubles (about $34,000) for refusing to store the personal data of Russian users on servers in Russia, part of government efforts to control online activity. Zoom Video Communications and Ookla, which runs the internet tool Speedtest, were both fined 1 million rubles under the same law….
LONDON (AP) — Nominations in the race to replace British Prime Minister Boris Johnson closed on Tuesday, with eight Conservative lawmakers securing enough support from their colleagues to make the first ballot. Former Health Secretary Sajid Javid, whose resignation last week helped bring Johnson down, was a surprise casualty, failing to make the cut. Candidates…
ROME (AP) — Premier Mario Draghi insisted Tuesday his government was able to keep working despite tensions with the 5-Star Movement, but he warned that it can’t function if coalition members make ultimatums. Draghi briefed reporters after meeting with unions on the government’s latest efforts to mitigate the effects of soaring inflation and high energy…
BERLIN (AP) — The European Central Bank said Tuesday that its president, Christine Lagarde, was targeted in a hacking attempt but no information was compromised. The attempt took place “recently,” the Frankfurt-based central bank for the 19 countries that use the euro said in an emailed response to a query about a report by Business…
Peloton will stop making its own interactive stationary bikes and treadmills, outsourcing those duties to a Taiwanese manufacturer as it attempts to revive sales that surged during the pandemic. The New York City company, which recorded its only profitable quarters during the pandemic, is seeking to lower costs after sales slid when gyms began to…
LONDON (AP) — London’s Heathrow Airport is capping daily passenger numbers for the summer and telling airlines to stop selling tickets as it steps up efforts to quell travel chaos caused by soaring travel demand and staff shortages. Britain’s busiest airport said Tuesday that it’s setting a limit of 100,000 passengers that it can handle…
