NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5% and finished 6.6% higher for the week, its best weekly gain…
WELLINGTON, New Zealand (AP) — The United States on Friday won the latest round of a legal battle to seize a $325-million Russian-owned superyacht in Fiji, with the case now appearing headed for the Pacific nation’s top court. The case has highlighted the thorny legal ground the U.S. finds itself on as it tries to…
DETROIT (AP) — The Senate on Thursday confirmed former California pollution regulator Steven Cliff to run the National Highway Traffic Safety Administration. President Joe Biden’s pick to run the agency was confirmed by consent without objections or a formal roll call vote. Cliff takes over the road safety agency at a critical time, about a…
Twitter shareholders have filed a lawsuit accusing Elon Musk of engaged in “unlawful conduct” aimed at sowing doubt about his bid to buy the social media company. The lawsuit filed late Wednesday in the U.S. District Court for the Northern District of California claims the billionaire Tesla CEO has sought to drive down Twitter’s stock…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister said Thursday that he will quickly prepare an economic reform program and seek approval from the International Monetary Fund — because global inflation and the financial impact of Russia’s invasion of Ukraine on other countries could limit their ability to help the island nation. Prime Minister…
BERLIN (AP) — Western allies are considering whether to allow Russian oligarchs to buy their way out of sanctions and using the money to rebuild Ukraine, according to government officials familiar with the matter. Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland proposed the idea at a G-7 finance ministers’ meeting in Germany last…
WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market…
WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate declined to…
NEW YORK (AP) — Airline stocks rallied Thursday after Southwest Airlines and JetBlue Airways said revenue from summer travel will be stronger than previously expected as travel bounces back after two years of the pandemic. The comments, which the airlines made in regulatory filings, point to their ability to charge higher fares and still fill…
DAVOS, Switzerland (AP) — Corporate buzzwords. Technical jargon. Bold but vague pronouncements about climate change and Russia’s war in Ukraine. The World Economic Forum’s annual gathering of CEOs and government leaders this week in Davos, the town in the Swiss Alps, may seem full of important but impersonal announcements. So what do Davos-goers really think?…
