BRUSSELS (AP) — Cutting off natural gas to Poland and Bulgaria cost Russian President Vladimir Putin very little — but it is adding stress on European countries wrestling with how to reduce the energy imports feeding the Kremlin’s war chest and how to keep a united front on the war in Ukraine. European Union officials…
NEW YORK (AP) — After years of screaming higher, almost regardless of what the economy was doing, tech-oriented stocks are tanking and dragging down the rest of Wall Street. Many of these high-profile companies are still making billions of dollars in profits, and they continue to dominate the top of the rankings for most valuable…
LONDON (AP) — Twitter’s quarterly profit, revenue and the number of daily users on its platform are rising but its quarterly report, released days after agreeing to be sold to billionaire Elon Musk, offered scant details about what it expects on the financial front for the rest of the year. The social media company on…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell again last week with numbers still at historically low levels. Jobless claims in the U.S. declined by 5,000 to 180,000 for the week ending April 23, the Labor Department reported Thursday. First-time applications generally reflect the number of layoffs. The four-week average for…
WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates, yet economists foresee a return to growth for the rest of 2022 based on the strength of the job market and consumer spending. The first quarterly decline in gross domestic…
LONDON (AP) — Britain announced Thursday that it is postponing until the end of 2023 some checks on imports from the European Union that are required under post-Brexit trade rules, citing economic disruption caused by the war in Ukraine. It’s the fourth time the U.K. has delayed checks it agreed to as part of its…
COPENHAGEN, Denmark (AP) — Danish brewer Carlsberg said Thursday that it saw a strong growth in the first three months of the year despite trying to sell its business in Russia, where it generated around 10% of its sales, reporting it saw “only limited impact from the war” in Ukraine. While Carlsberg beer is no…
DALLAS (AP) — Southwest Airlines lost $278 million in the first quarter but said Thursday that it expects to be profitable for the rest of the year because of surging demand for travel. The upbeat forecast echoed similar predictions this month from other big U.S. airlines. They say that after being mostly cooped up for…
Caterpillar’s first-quarter sales climbed on strong demand for construction equipment despite supply chain challenges that continue to plague businesses ranging from car and phone makers to grocery stores. And the Deerfield, Illinois, manufacturer is not immune to surging inflation that has run up costs for both consumer and companies across the globe. Costs and expenses…
Higher U.S. menu prices and easing COVID-19 restrictions in Europe helped McDonald’s offset troubled markets like China and Russia during the first quarter. Revenue rose 11% to $5.66 billion in the January-March period, topping Wall Street expectations of $5.57 billion, according to analysts polled by FactSet. The Chicago burger giant said U.S. prices were up…
