Social media has had a rough 2022 with lingering questions about advertising spending, political ads and a $44 billion takeover of Twitter that may or may not be happening, depending on which Elon Musk tweet you read. Then late Monday Snap, which runs the Snapchat app that features vanishing messages and video special effects, issued…
NEW YORK (AP) — Best Buy Co. posted first-quarter results that showed shoppers pulled back on spending, while higher costs ate into profits. The nation’s largest consumer electronics chain also cut its annual outlook, noting a deteriorating macro economic environment. Best Buy was among a handful of big winners in the pandemic, as shoppers splurged…
DAVOS, Switzerland (AP) — Kremlin critic Bill Browder wants governments to step up efforts to get to the riches squirreled away by Russian oligarchs and linked to President Vladimir Putin by forcing the accountants, lawyers and others who set up murky legal and financial structures to become whistleblowers. Browder, author of the nonfiction best-seller “Freezing…
Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working. A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s. The S&P 500, the benchmark for many index funds, is down…
KYIV —The top military commander who fought until last week to keep Ukrainian control of the southern port city of Mariupol is alive in Russian-controlled territory, his wife said Tuesday after holding a brief telephone conversation. Kateryna Prokopenko, who is married to Azov Regiment leader Denys Prokopenko, said that her husband asked her how she…
LONDON (AP) — WHO Director-General Tedros Adhanom Ghebreyesus is expected to be confirmed by the U.N. health agency’s member countries for a second five-year term on Tuesday. No other candidate challenged Tedros for the post amid the ongoing difficulties of responding to the devastating coronavirus pandemic. Tedros, a former government minister from Ethiopia, has directed…
DAVOS, Switzerland (AP) — Billionaire investor turned philanthropist George Soros has blamed new technology for helping repressive regimes like Russia and China exert greater control. Speaking Tuesday at a dinner for journalists on the sidelines of the World Economic Forum’s annual gathering in Davos, Switzerland, Soros said China and Russia were the greatest threats to…
NEW YORK (AP) — Stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation’s impact to their bottom lines. The S&P 500 index fell 2.1% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average fell 351 points, or 1.1%, to…
Amazon is planning to sublease some of its warehouse space now that the pandemic-fueled surge in online shopping, which helped the e-commerce giant rake in soaring profits in the past two years, has eased. Subleasing allows the company to “relieve the financial obligations associated with an existing building that no longer meets” its needs, Amazon…
DETROIT (AP) — Automaker Stellantis has scheduled an announcement for Tuesday in Kokomo, Indiana, for what could be the company’s second North American electric vehicle battery factory. The company said it will give an update on the future of its Kokomo operations at an Indiana community college on Tuesday afternoon. Stellantis, formed last year with…
