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39 minutes ago

FDA chief to detail delays inspecting baby formula plant

The head of the Food and Drug Administration is preparing to tell lawmakers about events that led to a months-long gap before inspecting the plant at the center of a nationwide baby formula shortage
39 minutes ago
FILE - Shelves typically stocked with baby formula sit mostly empty at a store in San Antonio, Tuesday, May 10, 2022. A massive baby formula recall, combined with COVID-related supply chain problems, is getting most of the blame for the shortage that's causing distress for many parents across the U.S. But the nation's formula supply has long been vulnerable to this type of crisis, experts say, due to decades-old rules and policies that have allowed a handful of companies to corner nearly the entire U.S. market. (AP Photo/Eric Gay, File)
1 hour ago

Asian stock markets mixed after Wall St sinks further

Asian stock markets are mixed after Wall Street sank on weak U.S. housing sales and a profit warning by a prominent social media brand
1 hour ago
FILE - Traders work on the floor at the New York Stock Exchange in New York, May 19, 2022. Stocks are opening lower on Wall Street Tuesday, May 24, 2022 led by drops in tech heavyweights like the parent companies of Facebook and Google. The S&P 500 index fell 1.2% in the early going, and the tech-heavy Nasdaq was down almost twice as much, 2.3%. (AP Photo/Seth Wenig)
2 hours ago

Japan's weaker yen a blessing to some, burden for others

The Japanese yen has weakened, trading recently at 20-year lows of 130 yen to the U.S. dollar, just when prices of oil and other goods are surging
2 hours ago
A financial monitor shows Japanese yen's exchange rate against the U.S. dollar at a currency dealing house in Tokyo on April 28, 2022. The Japanese yen has weakened, trading in recent weeks at 20-year lows of 130 yen to the U.S. dollar just when prices of oil and other goods are surging due to the war in Ukraine, and that's a mixed blessing. (Kyodo News via AP)
May 24

Attorney paying ex-casino mogul Steve Wynn defamation claim

Former Las Vegas casino mogul Steve Wynn has accepted an undisclosed financial settlement to end his federal defamation lawsuit against an attorney
May 24
FILE - Casino mogul Steve Wynn is seen at a news conference in Medford, Mass., on March 15, 2016. Former Las Vegas casino mogul Wynn has accepted an undisclosed financial settlement to end his federal defamation lawsuit against attorney Lisa Bloom. The attorney represented a dancer who she said accused Wynn of sexual harassment and retaliation. Wynn's lawyers on Tuesday, May 24, 2022, gave The Associated Press a settlement document that included a statement from Bloom, which withdrew claims she made in a news release in March 2018. (AP Photo/Charles Krupa, File)
May 24

Social media hammered by mounting questions over advertising

Social media has had a rough 2022 with lingering questions about advertising spending and a $44 billion takeover of Twitter that may or may not be happening, depending on which Elon Musk tweet you read
May 24
FILE - The logo for Snap Inc. appears above a post on the floor of the New York Stock Exchange, Feb. 5, 2020. Social media companies are having a tough go of it so far in 2022 as Snap issued a profit warning due to current economic conditions. Snap Inc., the parent of Snapchat, disclosed in a regulatory filing on Monday, May 23, 2022 that ever since it provided its outlook for the second quarter last month, “the macroeconomic environment has deteriorated further and faster than anticipated.” (AP Photo/Richard Drew, file)
May 24

Best Buy lowers outlook as Q1 results show inflation's bite

Best Buy Co. has posted first-quarter results that showed shoppers pulled back on their spending and higher costs ate into profits
May 24
FILE - Shoppers are silhouetted as they walk toward a Best Buy store after doors opened at 5 a.m., Nov. 26, 2021, in Lone Tree, Colo. Best Buy Co. posted first-quarter results that showed shoppers pulled back on their spending and higher costs ate into profits. The nation’s largest consumer electronics chain also on Tuesday, May 24, 2022 cut its annual outlook, citing a deteriorating economic environment. Best Buy was among a handful of big winners in the pandemic, as shoppers flocked to its stores and website to buy equipment to furnish home offices or cater to their children's needs for virtual learning. (AP Photo/David Zalubowski, file)
May 24

ExxonMobil loses bid to nix climate change lawsuit

Massachusetts’ highest court has rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change
May 24
FILE - The logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange, Oct. 8, 2019. Massachusetts' highest court on Tuesday, May 24, 2022, rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change. (AP Photo/Richard Drew, File)
May 24

Lawsuit accuses 3 automakers and parts maker in air bag case

A class action lawsuit is accusing three automakers and a parts manufacturer of knowingly selling vehicles containing air bag inflators that are at risk of exploding
May 24
May 24

Snap, Nautilus fall; Nordson, Insulet rise

Stocks that traded heavily or had substantial price changes Tuesday: Snap, Nautilus fall; Nordson, Insulet rise
May 24
May 24

How major US stock indexes fared Tuesday

A slump in several big companies weighed down the stock market Tuesday, leaving most major indexes lower
May 24
May 24

Ford pays $19M to settle claims on fuel economy, payload

Ford Motor Company has settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles
May 24
FILE - A Ford logo, on the tailgate of a 2012 F350 Super Duty pick-up truck, and Ford dealership sign are displayed at Salem Ford in Salem, N.H., on Oct. 25, 2011. Ford Motor Company on Tuesday,May 24, 2022, settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles, violating state consumer protection laws. (AP Photo/Charles Krupa, File)
May 24

US to end Russia's ability to pay international investors

The U.S. will close the last avenue for Russia to pay back its billions in debt to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable
May 24
May 24

Airbnb ends rentals in China to focus on outbound tourists

Airbnb Inc. says it will stop representing short-term rental properties in China and focus its business in the country on serving Chinese tourists looking for lodgings abroad
May 24
FILE - Airbnb CEO Brian Chesky speaks during an event in San Francisco, Feb. 22, 2018. Airbnb Inc. announced Tuesday, May 24, 2022 it will stop representing short-term rental properties in China and focus its business in the country on serving Chinese tourists looking for lodgings abroad. (AP Photo/Eric Risberg, File)
May 24

Democrats: Google must protect privacy of abortion patients

More than 40 Democratic members of Congress are asking Google to stop what they see as the unnecessary collection and retention of peoples' location data
May 24
FILE - A woman walks below a Google sign on the campus in Mountain View, Calif., on Sept. 24, 2019. More than 40 Democratic members of Congress are asking Google to stop what they see as the unnecessary collection and retention of peoples' location data. They're concerned it could be used to identify women seeking abortions. The group of Democrats on Tuesday, May 24, 2022 sent a letter to the CEO of Google's parent company saying that if abortion were to become illegal in the U.S., the cellphone location data collected and retained by the company could be used by far-right extremists looking to crack down on women seeking reproductive health care. (AP Photo/Jeff Chiu, File)
May 24

Stellantis, Samsung plan Indiana electric car battery plant

A joint venture between Stellantis and Samsung plans to build an electric vehicle battery factory in Indiana that will employ up to 1,400 workers and become the company’s second such factory in North America
May 24
FILE - The Stellantis sign is seen outside the Chrysler Technology Center, in Auburn Hills, Mich. Automaker Stellantis has scheduled an announcement for Tuesday, May 24, 2022, in Kokomo, Ind., for what could be the company's second North American electric vehicle battery factory. (AP Photo/Carlos Osorio, File)
May 24

Trump's inaugural chair pleads not guilty to latest charges

Tom Barrack was arrested last year and released on $250 million bail.
May 24
FILE - Tom Barrack, center, arrives at Brooklyn federal court, Monday, July 26, 2021, in New York. Federal prosecutors have spelled out more details of the allegations against Barrack, the chair of former President Donald Trump's inaugural committee, who's accused of secretly working as an agent for the United Arab Emirates to influence Trump's foreign policy. (AP Photo/Mark Lennihan, File)
May 24

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels
May 24
May 24

Kremlin critic Browder urges squeeze on oligarchs' enablers

Kremlin critic Bill Browder wants governments to step up efforts to get to the riches squirreled away by Russian oligarchs by forcing accountants, lawyers and others who set up murky legal and financial structures to become whistleblowers
May 24
Bill Browder CEO Hermitage Capital Management poses for a portrait prior to an interview with the Associated Press during the World Economic Forum in Davos, Switzerland, Tuesday, May 24, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)
May 24

At Davos, Kerry cites progress on China-US climate group

John Kerry, America’s top official on climate change, says that the U.S. and China are making progress on putting together a group of experts from both countries to work toward quickly reducing greenhouse gas emissions
May 24
John F. Kerry, Special Presidential Envoy for Climate of the United States, gestures during a news conference at the World Economic Forum in Davos, Switzerland, Tuesday, May 24, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)
May 24

Davos updates | Kerry: US, China working on emissions group

U.S. climate envoy John Kerry says the U.S. and China are making progress on putting together a group to work toward quickly reducing greenhouse gas emissions
May 24
John F. Kerry, Special Presidential Envoy for Climate of the United States, gestures during a news conference at the World Economic Forum in Davos, Switzerland, Tuesday, May 24, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)
May 24

Live updates | Wife: Ukrainian commander at Mariupol alive

The top military commander who fought to keep Ukrainian control of Mariupol is alive in Russian-controlled territory
May 24
A boy watches flags honoring soldiers killed fighting Russian troops in downtown Kyiv, Ukraine, Monday, May 23, 2022. (AP Photo/Natacha Pisarenko)
May 24

Report: Dramatic rise in pesticides in EU fruits, vegetables

New research says the contamination of fruits and vegetables produced in the European Union by some of the most toxic pesticides has substantially increased over the past decade
May 24
FILE - Farmer Dimitris Kakalis, 25, fills a spray machine with pesticide at his vineyard near the town of Tyrnavos, central Greece, Sunday, Feb. 13, 2022. The contamination of fruits and vegetables produced in the European Union by the most toxic pesticides has substantially increased over the past decade, according to new research published Tuesday, May 24, 2022. (AP Photo/Giannis Papanikos, File)
May 24

US safety, savings rules set stage for baby formula shortage

A massive recall is getting most of the blame for the U.S. baby formula shortage, but experts say the products have long been vulnerable to this type of crisis
May 24
FILE - Shelves typically stocked with baby formula sit mostly empty at a store in San Antonio, Tuesday, May 10, 2022. A massive baby formula recall, combined with COVID-related supply chain problems, is getting most of the blame for the shortage that's causing distress for many parents across the U.S. But the nation's formula supply has long been vulnerable to this type of crisis, experts say, due to decades-old rules and policies that have allowed a handful of companies to corner nearly the entire U.S. market. (AP Photo/Eric Gay, File)
May 24

'Bear market' and 'recession' are back in the conversation. Why they matter.

The terms stoke outsized panic in some cases and insufficient caution in others.
May 24
A trader works on the floor at the New York Stock Exchange in New York, on May 19, 2022.
May 24

Official: Ukraine told Cyprus of $420m Russian asset seizure

A Cypriot official says Ukrainian authorities have informed Cyprus about their seizure of $420 million worth of shares and securities linked to the east Mediterranean island nation that belong to a Russian billionaire and other businessmen
May 24
May 24

WHO chief Tedros reappointed to second five-year term

World Health Organization director-general Tedros Adhanom Ghebreyesus was confirmed by the U.N. health agency’s member countries for a second five-year term on Tuesday
May 24
Tedros Adhanom Ghebreyesus, Director General of the World Health Organization (WHO), centre, celebrates his reelection, during the 75th World Health Assembly at the European headquarters of the United Nations in Geneva, Switzerland, Tuesday, May 24, 2022. (Salvatore Di Nolfi/Keystone via AP)
May 24

Slumping technology stocks pull Wall Street lower

Stocks fell in morning trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation and its impact to their bottom lines
May 24
A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 24, 2022. Asian shares were mostly lower on Tuesday as worries over inflation tempered optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports.(AP Photo/Ahn Young-joon)
May 24

Hyundai recalls 239,000 cars for exploding seat belt parts

Korean automaker Hyundai is recalling 239,000 cars because the seat belt parts can explode and injure vehicle occupants
May 24
FILE - An unsold 2019 Accent sedan sits at a Hyundai dealership in Littleton, Colo. on Sunday, May 19, 2019. Korean automaker Hyundai is recalling 239,000 cars because the seat belts can explode and injure vehicle occupants. The recall, which expands and replaces three previous recalls, includes 2019-2022 Accents, 2021-2023 Elantras and 2021-2022 Elantra HEVs, or hybrid electric vehicles. Owners will be able to take their recalled vehicles to dealerships where the seat belt pretensioners will be fit with a cap at no cost. (AP Photo/David Zalubowski, File)
May 24

Official: Nine Lebanese banks to withdraw from Cyprus

A representative of the Cyprus Central Bank says nine Lebanese banks are shutting down their operations on the island
May 24
May 24

MacKenzie Scott gives $123M to Big Brothers Big Sisters

MacKenzie Scott gave $122.6 million to Big Brothers Big Sisters of America, the national youth-mentoring charity announced on Tuesday
May 24
FILE - In this March 4, 2018, file photo, then-MacKenzie Bezos arrives at the Vanity Fair Oscar Party in Beverly Hills, Calif. MacKenzie Scott gave $122.6 million to Big Brothers Big Sisters of America, the national youth-mentoring charity announced on Tuesday, May 24, 2022. The gift is the latest of several the billionaire writer has given to large national nonprofits that carry out their missions through local chapters in neighborhoods throughout the country. (Photo by Evan Agostini/Invision/AP, File)
May 24

Biden administration is flying in baby formula. Here’s why the shortage happened

A factory shutdown triggered the crisis but supply was vulnerable, experts said.
May 24
Empty shelves show a shortage of baby formula at a CVS store in San Antonio, Texas, May 10, 2022.
May 24

Stock market slump unsettling Americans eying retirement

Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working
May 24
Mark Bendell and his wife Laurie talk in their kitchen, Monday, May 23, 2022, in Boca Raton, Fla. A stock market slump this year, which has taken big bites out of investors’ portfolios, including retirement plans like 401(k)s, is worrying Americans who are within a few years of retirement. (AP Photo/Marta Lavandier)
May 24

Biden: Leaders navigating 'dark hour' after Ukraine invasion

President Joe Biden has warned fellow leaders of the informal Indo-Pacific security coalition known as the Quad that they are “navigating through a dark hour in our shared history.”
May 24
Leaders of Quadrilateral Security Dialogue (Quad) from left to right, Australian Prime Minister Anthony Albanese, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, and Indian Prime Minister Narendra Modi, pose for photo at the entrance hall of the Prime Minister's Office of Japan in Tokyo, Japan, Tuesday, May 24, 2022. (Sadayuki Goto/Kyodo News via AP)
May 24

More turn to UK food banks as food and fuel bills soar

Across Britain, food banks and community food hubs that helped struggling families, older people and the homeless during the pandemic are now seeing soaring demand
May 24
Local resident Dave sits at the Community Food Hub in London, Wednesday, May 4, 2022. Across Britain, food banks and community food hubs that helped struggling families, older people and the homeless during the pandemic are now seeing soaring demand. The cost of food and fuel in the U.K. has risen sharply since late last year, with inflation reaching the highest level in 40 years. (AP Photo/Frank Augstein)
May 24

AP-NORC poll: Economy grows as priority on Russia response

Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges
May 24
FILE - High gas prices are seen in front of a medical billboard on May 11, 2022, in Milwaukee. Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges. That's according to a new poll from The Associated Press-NORC Center for Public Affairs Research. (AP Photo/Morry Gash, File)
May 23

Asian shares mostly lower as inflation worries cloud outlook

Asian shares are mostly lower as worries over inflation temper optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports
May 23
In this photo provided by the New York Stock Exchange, specialist Anthony Matesic works on the trading floor, Monday, May 23, 2022. Stocks rallied in afternoon trading on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020. (David L. Nemec/New York Stock Exchange via AP)
May 23

EXPLAINER: What's the 4-nation Quad, where did it come from?

Leaders of the U.S., Japan, Australia and India gathered in Tokyo on Tuesday for a summit of what's known as the Quad
May 23
Australian Prime Minister Anthony Albanese, right, and Foreign Minister Penny Wong arrive at Haneda International Airport in Tokyo, Monday, May 23, 2022. The newly sworn-in Australian Prime Minister Albanese is scheduled to attend a gathering in Tokyo of the four-country Indo-Pacific group known as the Quad.(Fumine Tsutabayashi/Kyodo News via AP)
May 23

What led to US baby formula shortage?

A variety of long-term and short-term factors led to empty shelves for parents searching for baby formula.
May 23
A variety of long-term and short-term factors led to empty shelves for parents searching for baby formula.
May 23

Amazon to sublease warehouses as online shopping slows

Amazon is planning to sublease some of its warehouse space because the pandemic-fueled surge in online shopping has slowed
May 23
May 23

Stellantis making Indiana announcement; may be battery plant

Stellantis has scheduled an announcement for Tuesday in Kokomo, Indiana, for what could be the company’s second North American electric vehicle battery factory
May 23
FILE - The Stellantis sign is seen outside the Chrysler Technology Center, in Auburn Hills, Mich. Automaker Stellantis has scheduled an announcement for Tuesday, May 24, 2022, in Kokomo, Ind., for what could be the company's second North American electric vehicle battery factory. (AP Photo/Carlos Osorio, File)
May 23

Global Citizen NOW summit seeks solutions for global issues

The statistics discussed at the inaugural Global Citizen NOW conference were bleak
May 23
FILE - Hugh Evans, co-founder and CEO of Global Citizen, speaks during the Global Citizen festival, Saturday, Sept. 25, 2021, in New York. The statistics discussed at the inaugural Global Citizen NOW conference in New York Monday, May 23, 2022, were bleak. However, Evans said he feels optimistic. (AP Photo/Stefan Jeremiah, File)
May 23

DC sues Zuckerberg over Cambridge Analytica privacy breach

The District of Columbia has sued Meta chief Mark Zuckerberg
May 23
FILE - District of Columbia Attorney General Karl Racine attends a news conference near the White House in Washington, Feb. 26, 2018. On Monday, May 23, 2022, the District of Columbia sued Meta chief Mark Zuckerberg, seeking to hold him personally liable for the Cambridge Analytica scandal, a privacy breach of millions of Facebook users’ personal data that became a major corporate and political scandal. Racine filed the civil lawsuit against Zuckerberg in D.C. Superior Court. (AP Photo/Andrew Harnik, File)
May 23

Facebook, Instagram to reveal more on how ads target users

Meta, the parent company of Facebook and Instagram, said it will start publicly providing more details about how advertisers target people with political ads
May 23
FILE - The mobile phone apps for, from left, Facebook, Instagram and WhatsApp are shown on a device in New York. The company that owns Facebook and Instagram said Monday, May 23, 2022, it will begin revealing more details about how advertisers target people with certain political ads, just months before the U.S. Midterm elections. (AP Photo/Richard Drew, File)
May 23

Starbucks leaving Russian market

Starbucks is pulling out of the Russian market
May 23
May 23

World Food Program chief presses billionaires 'to step up'

The head of the U.N.’s World Food Program is telling billionaires it’s “time to step up” as the global threat of food insecurity rises because of Russia’s war in Ukraine
May 23
David Beasley, Executive Director of the United Nations World Food Programme, arrives to a UN Security Council Meeting on Food Insecurity and Conflict, Thursday, May 19, 2022, at United Nations headquarters. (AP Photo/John Minchillo)
May 23

How major US stock indexes fared Monday

Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020
May 23
May 23

Brazil president announces carbon market, thin on details

Brazil’s far-right President Jair Bolsonaro has announced the creation of a carbon market in Brazil but it is voluntary and the announcement is thin on the kind of details that make for a robust trading forum
May 23
FILE - Brazil's President Jair Bolsonaro arrives for a ceremony marking Army Day at Army headquarters in Brasilia, Brazil, April 19, 2022. Bolsonaro signed a decree on May 19, 2022 that he says will create a national carbon market to reduce greenhouse gas emissions. (AP Photo/Eraldo Peres, File)
May 23

JPMorgan Chase, Electronic Arts rise; Broadcom, Amazon fall

Stocks that traded heavily or had substantial price changes Monday: JPMorgan Chase, Electronic Arts rise; Broadcom, Amazon fall
May 23
May 23

Video game workers create first union at big U.S. game maker

Video game workers at a division of game publisher Activision Blizzard have voted to unionize, creating the first labor union at a large U.S. video game company
May 23
FILE - The Activision Blizzard Booth is shown on June 13, 2013, during the Electronic Entertainment Expo in Los Angeles. On Monday, May 23, 2022, a count of ballots will reveal the results of a labor union election affecting a small group of Wisconsin-based quality assurance testers at Activision Blizzard’s Raven Software, which develops the popular Call of Duty game franchise. The unionization campaign by the employees has been part of a broader internal shakeup at Activision Blizzard, a Santa Monica, California-based gaming giant with roughly 10,000 employees worldwide. (AP Photo/Jae C. Hong, File)
May 23

Appeals court: Florida law on social media unconstitutional

A Florida law intended to punish social media platforms like Facebook and Twitter for allegedly discriminating against conservative thought is an unconstitutional violation of the First Amendment
May 23
FILE - Florida Gov. Ron DeSantis speaks at Miami's Freedom Tower, on Monday, May 9, 2022. A Florida law intended to punish social media platforms like Facebook and Twitter is an unconstitutional violation of the First Amendment, a federal appeals court ruled Monday, May 23, 2022, dealing a major victory to companies who had been accused by DeSantis of discriminating against conservative thought. (AP Photo/Marta Lavandier, File)