Technology stocks led a broad rally on Wall Street Friday, capping another strong week for the market, as investors welcomed solid profits from Apple and other companies. The S&P 500 rose 2.5% and posted its first back-to-back weekly gains since August. The Dow Jones Industrial Average rose 2.6% and the tech-heavy Nasdaq composite climbed 2.9%….
BERLIN (AP) — The German economy grew in the third quarter, an unexpectedly positive performance powered largely by private spending, official figures showed Friday. But the immediate outlook for Europe’s biggest economy remained gloomy, with inflation rising again in October. Gross domestic product expanded by 0.3% in the July-September period compared with the previous quarter,…
Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform. Musk gave one indication of where he’s headed in a tweet Friday, saying no decisions on content or reinstating of accounts will…
Elon Musk has taken control of Twitter and ousted the CEO, chief financial officer and the company’s top lawyer, two people familiar with the deal said Thursday night. The people wouldn’t say if all the paperwork for the deal, originally valued at $44 billion, had been signed or if the deal has closed. But they…
TOKYO (AP) — Japan’s Cabinet approved Friday a hefty economic package including 29 trillion yen ($200 billion) in government spending to counter the blow to household budgets from inflation, signaling that the greater concern of its policymakers is that the economy will stall, not overheat. While central banks around the world are raising interest rates…
Apple managed to boost both its sales and profit during a summertime quarter that depressed the fortunes of most other major tech companies, but that doesn’t necessarily mean the iPhone maker will be immune to a potential recession. Even though Apple fared reasonably well, the July-September results released Thursday signaled that the world’s most valuable…
NEW YORK (AP) — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by…
A bipartisan group of attorneys general is asking Albertsons to delay a $4 billion payout to its shareholders until they can complete a review of Kroger’s planned acquisition of the grocery chain. Kroger earlier this month announced it was paying $20 billion to buy Albertsons. The deal is expected to close in early 2024, if…
DETROIT (AP) — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service. She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn’t have any suitable vehicles. Or they’d demand she pay $3,000 to $6,000 above…
WASHINGTON (AP) — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve’s aggressive rate hikes intended to tame the nation’s stubbornly high inflation. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate jumped to…
