McDonald’s is selling all of its restaurants in Russia 30 years after the burger chain became a powerful symbol of easing Cold War tensions between the United States and Soviet Union. The company shuttered hundreds of locations in March after Russia invaded Ukraine, which has cost McDonald’s about $55 million per month. On Monday, McDonald’s…
Spirit Airlines is advising shareholders to reject a tender offer for shares from JetBlue three days after it went hostile in its bid to create what would be the nation’s fifth largest airline. Spirit repeated Thursday that any attempt to merge with the New York carrier would face substantial regulatory hurdles, largely because of JetBlue’s…
WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low. Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday. First-time applications generally track the number of layoffs. The four-week…
KOENIGSWINTER, Germany (AP) — Finance ministers for the Group of Seven leading economies grappled Thursday with deepening inflation concerns and the immediate effects of Russia’s war in Ukraine, with U.S. Treasury Secretary Janet Yellen promising that the allies would put together enough additional aid to help Ukraine “get through this.” “All of us pledged to…
BEIJING (AP) — Asian stock markets rose Friday after Wall Street fell closer to bear territory, China cut a key interest rate and Japanese inflation edged higher. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices fell more than $1 per barrel. Wall Street’s benchmark S&P 500 index lost 0.6% on Thursday…
WELLINGTON, New Zealand (AP) — New Zealand’s government said Thursday it will hand out an extra few hundred dollars to more than 2 million lower-income adults to help them navigate what it describes as “the peak of the global inflation storm.” The payments are part of a package of new measures announced in the government’s…
TOKYO (AP) — Japan recorded a trade deficit in April as its imports ballooned 28% due to soaring energy costs and the yen’s weakness against the dollar. Japan’s trade deficit totaled 839 billion yen ($7 billion) in April, for the ninth straight monthly deficit. In contrast, the world’s third-largest economy had recorded a surplus of…
NEW YORK (AP) — Convicted pharmaceutical executive Martin Shkreli was freed Wednesday from prison after serving much of a seven-year prison sentence for lying to hedge fund investors and cheating investors in a drug company. His attorney, Ben Brafman, said Shkreli, 39, was released early from a prison in Allenwood, Pennsylvania. The move was confirmed…
OMAHA, Neb. (AP) — A federal appeals court has ruled that details of some of the conversations between the nation’s four largest railroads about their rates can now be included in lawsuits challenging billions of dollars they charged their customers, but the mixed ruling will also exclude some documents. The ruling from the District of…
NEW YORK (AP) — The bear came close to Wall Street but then backed off. The stock market’s slump this year briefly pulled the S&P 500 into what’s known as a bear market Friday, before a late rally put the index in the green. The prevailing sentiment among investors remains negative, however, so the relief…
