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May 19

Asian shares track Wall Street's inflation-fueled retreat

Shares are sharply lower in Asia after a broad retreat on Wall Street
May 19
FILE - Trader Patrick King works the floor at the New York Stock Exchange, Thursday, May 12, 2022, in New York. Stocks fell sharply on Wednesday as the Stocks fell sharply on Wednesday as the Dow Jones Industrial Average gave up more than 1,100 points, or 3.6% and the tech-heavy Nasaq pulled back 4.7%. The S&P 500, the benchmark for many index funds, fell 4%. (AP Photo/John Minchillo, File)
May 19

Biden invokes Defense Production Act for formula shortage

President Joe Biden has invoked the Defense Production Act to speed production of infant formula and has authorized flights to import supply from overseas
May 19
Speaker of the House Nancy Pelosi, D-Calif., joined at left by Rep. Rosa DeLauro, D-Conn., the House Appropriations Committee chair, talks to reporters as House Democrats unveil a $28 million emergency spending bill to address the shortage of infant formula in the United States, at the Capitol in Washington, Tuesday, May 17, 2022. DeLauro says the bill would help the Food and Drug Administration take important steps to restore the formula supply in a safe and secure manner. (AP Photo/J. Scott Applewhite)
May 18

EXPLAINER: Why is Wall Street close to a bear market?

The bears are rumbling toward Wall Street
May 18
May 18

Stocks fall sharply as Target's woes renew inflation fears

Shares are sharply lower in Asia after a broad retreat on Wall Street
May 18
A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, May 18, 2022. Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation.(AP Photo/Kin Cheung)
May 18

Japan records trade deficit as imports surge on energy costs

Japan has recorded a trade deficit in April as imports ballooned 28% as energy prices soared while the yen remained weak
May 18
Cars for export park at a port in Yokohama, near Tokyo on July 6, 2020. Japan recorded a trade deficit in April as imports ballooned 28% as energy prices soared following the war in Ukraine, according to Ministry of Finance data released Thursday, May 19, 2022. (AP Photo/Koji Sasahara)
May 18

Biden invokes Defense Production Act for formula shortage

President Joe Biden has invoked the Defense Production Act to speed production of infant formula and has authorized flights to import supply from overseas
May 18
Infant formula is stacked on a table during a baby formula drive to help with the shortage Saturday, May 14, 2022, in Houston. Parents seeking baby formula are running into bare supermarket and pharmacy shelves in part because of ongoing supply disruptions and a recent safety recall. (AP Photo/David J. Phillip)
May 18

Big dreams for new Warner Bros. Discovery in ad presentation

In what was essentially the company's public debut, executives at the new Warner Bros
May 18
May 18

'Pharma Bro' Shkreli freed from prison for halfway house

Convicted pharmaceutical executive Martin Shkreli has been freed from prison after serving much of a seven-year prison sentence for lying to hedge fund investors and cheating investors in a drug company
May 18
FILE - Former Turing Pharmaceuticals CEO Martin Shkreli attends the House Committee on Oversight and Reform Committee hearing on Capitol Hill in Washington, Feb. 4, 2016. Shkreli has been freed from prison after serving much of a seven-year prison sentence for lying to hedge fund investors and cheating investors in a drug company. (AP Photo/Susan Walsh, File)
May 18

Target feels inflation's sting in first quarter, shares slip

The pandemic vastly changed the way Americans spend money and now as they return to pre-pandemic behavior, they’re tripping up retailers again
May 18
FILE - The bullseye logo on a sign outside a Target store is seen on Feb. 28, 2022. Target's first-quarter profit took a big hit from higher costs, despite strong sales growth. Target's results Wednesday, May 18, reflect the pressure on retailers' profits coming from surging inflation and persistent clogs in the supply chain. (AP Photo/Charles Krupa, File)
May 18

Moms seeking formula tire of those who say, just breastfeed

Some U.S. moms looking for baby formula that is in short supply are dealing with another layer of stress — people asking why they don't just breastfeed
May 18
This March 2022 photo provided by Morgan Fabry shows her with her daughter in Chicago. Some U.S. moms looking for baby formula that is in short supply are dealing with another layer of stress - people asking why they don't just breastfeed. Exclusive breastfeeding is recommended for the first six months of life by major medical entities like the World Health Organization, giving rise to the saying, “breast is best.” But breastfeeding doesn’t work for everyone, and that mantra is only adding to the stress Fabry and other parents feel as the shortage drags on. (Morgan Fabry via AP)
May 18

EU rushes out $300 billion roadmap to ditch Russian energy

The European Union’s executive arm is moving to jump-start plans for the EU to abandon Russian energy amid the Kremlin’s war in Ukraine
May 18
European Commission President Ursula von der Leyen announces a joint statement with Japanese Prime Minister Fumio Kishida and European Council President Charles Michel at the prime minister's official residence in Tokyo Thursday, May 12, 2022. (Yoshikazu Tsuno/Pool Photo via AP)
May 18

Court: Some rail rate talks allowed in price-fixing suits

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
May 18
FILE - A CSX freight train pulls through McKeesport, Pa., on June 2, 2020. A federal judge has ruled that the details of conversations between the nation’s four largest railroads should be included in lawsuits challenging billions of dollars of charges the railroads imposed in the past. (AP Photo/Gene J. Puskar, File)
May 18

Buffalo shooting sparks criticism of tech platforms over content moderation

The attack spurred fears over the monitoring of livestreams and radicalization.
May 18
Investigators work the scene of a shooting at a supermarket, in Buffalo, N.Y., May 16, 2022.
May 18

Federal agency sends team to probe Tesla crash that killed 3

The U.S. government’s road safety agency has dispatched a team to investigate the possibility that a Tesla involved in a California crash that killed three people was operating on a partially automated driving system
May 18
FILE - The Tesla company logo sits on a vehicle at a Tesla dealership in Littleton, Colo., on Feb. 2, 2020. The U.S. government’s road safety agency has dispatched a team to investigate the possibility that a Tesla involved in a California crash that killed three people was operating on a partially automated driving system. The National Highway Traffic Safety Administration on Wednesday, May 18, 2022 confirmed that it had sent a special crash investigation team to probe the May 12 crash on the Pacific Coast Highway in Newport Beach. (AP Photo/David Zalubowski, File)
May 18

Dow plunges amid weak earnings reports from retailers

Walmart, Target, Lowe’s and other retailers reported weaker-than-expected earnings this week, prompting a stock market sell-off.
May 18
VIDEO: Dow plunges amid weak earnings reports from retailers
May 18

How major US stock indexes fared Wednesday

Stocks closed sharply lower on Wall Street Wednesday as dismal results from Target renewed fears that inflation is battering U.S. companies
May 18
May 18

Target, Lowe's fall; TJX, Agilysys rise

Stocks that traded heavily or had substantial price changes Wednesday: Target, Lowe’s fall; TJX, Agilysys rise
May 18
May 18

Stocks end 4% lower on Wall Street as Target's profit plunge renews fears that inflation is hurting U.S. companies

Stocks end 4% lower on Wall Street as Target's profit plunge renews fears that inflation is hurting U.S. companies
May 18
May 18

Cardinal: Pope ordered auditor to resign over spying charge

A Vatican cardinal has shed light on a scandal that had sparked questions about the Vatican’s commitment to financial transparency and accountability
May 18
FILE - Cardinal Angelo Becciu talks to journalists during press conference in Rome, Sept. 25, 2020. A Vatican cardinal testified Wednesday, May 18, 2022 that Pope Francis himself ordered the ouster of the Holy See’s auditor general, shedding light on a scandal that had sparked questions about the Vatican’s commitment to financial transparency and accountability. Cardinal Angelo Becciu opened a second day of questioning in the Vatican’s big financial fraud trial by saying Francis had recently authorized him to reveal the details of Milone’s 2017 departure as the Vatican’s first auditor-general. (AP Photo/Gregorio Borgia, File)
May 18

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels
May 18
May 18

Martin Shkreli, infamous 'Pharma Bro,' released from prison early

The former pharmaceutical head was slammed for raising the cost of an HIV drug.
May 18
Martin Shkreli, former chief executive officer of Turing Pharmaceuticals leaves federal court in the Brooklyn borough of New York, Aug. 2, 2017.
May 18

A third of US should be considering masks, officials say

COVID-19 cases are increasing in the United States – and could get even worse over the coming months, federal health officials warned in urging areas hardest hit to consider reissuing calls for indoor masking
May 18
Dr. Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases, is seen during the House Committee on Appropriations subcommittee on Labor, Health and Human Services, Education, and Related Agencies hearing, about the budget request for the National Institutes of Health, Tuesday, May 17, 2022, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib)
May 18

4 EU nations to harness North Sea wind for green transition

Four EU countries plan to speed up the continent’s green transition and help wean it off Russian energy imports through a large new project to build wind farms in the North Sea
May 18
FILE - A fisher boat passes wind turbines between the island Langeoog and Bensersiel at the North Sea coast in Germany, on May 15, 2019. Four European Union countries plan to build North Sea wind farms capable of producing at least 150 gigawatts of energy by 2050 to help cut carbon emissions that cause climate change, Danish media reported Wednesday, May 18, 2022. (AP Photo/Martin Meissner)
May 18

Dow sinks 1,000 points, or 3.2%, as dismal results from Target renew fears that inflation is battering companies

Dow sinks 1,000 points, or 3.2%, as dismal results from Target renew fears that inflation is battering companies
May 18
May 18

Davos returns from pandemic with Ukraine, climate in mind

After a nearly 2-1/2-year hiatus, the Swiss town of Davos is set to again host global elites from business, government and activist groups for the World Economic Forum
May 18
FILE - President Donald Trump meets with European Commission President Ursula von Der Leyen at the World Economic Forum, Tuesday, Jan. 21, 2020, in Davos, Switzerland. After a nearly 2-1/2-year hiatus, the Swiss town of Davos is set to again host global elites from business, government and activist groups for the World Economic Forum. Russia’s war in Ukraine and climate change worries are expected to be on many minds at the event starting Monday, May 23, 2022 as concern over the pandemic ebbs. (AP Photo/ Evan Vucci, file)
May 18

Qatar to boost investment in Spain by $4.9 billion

Qatar has committed to investing 4.7 billion euros ($4.9 billion) in Spain as the European country launches an economic overhaul with its share of European Union pandemic recovery funds
May 18
The Emir of Qatar Sheikh Tamim bin Hamad Al Thani, left, shakes hands with Spain's Prime Minister Pedro Sanchez at the Moncloa Palace in Madrid, Spain, Wednesday, May 18, 2022. The emir of Qatar said that his energy-rich gulf state is set to boost investments in Spain by 4.7 billion euros (4.9 billion) dollars in the coming years, Spanish media reported late on Tuesday. The details of the investments have not been made public but with Europe scrambling to find alternatives to Russian energy, Qatar is positioned to help fill the gap with exports of liquified natural gas. (AP Photo/Paul White)
May 18

UN drops forecast for global economic growth in 2022 to 3.1%

The United Nations is significantly lowering its forecast for global economic growth this year from 4% to 3.1%
May 18
FILE - The Secretary-General of the United Nations, Antonio Guterres, addresses the media during a joint press conference with the President of Austria, Alexander Van der Bellen, in Vienna, Austria, Wednesday, May 11, 2022. The United Nations on Wednesday, May 18, significantly lowered its forecast for global economic growth this year from 4% to 3.1%, saying the war in Ukraine has triggered increasing global food and commodity prices and exacerbated inflationary pressures, upending the fragile recovery from the COVID-19 pandemic.(AP Photo/Theresa Wey)
May 18

NATO talks with Finland, Sweden falter but will continue

NATO diplomats say national envoys have failed to reach a consensus about whether to start membership talks with Finland and Sweden
May 18
President of Finland Sauli Niinisto, left, and Swedish Prime Minister Magdalena Andersson attend a joint news conference in Stockholm, Tuesday May 17, 2022. (Anders Wiklund/TT News Agency via AP)
May 18

With Roe in doubt, some fear tech surveillance of pregnancy

Companies that collect data from the digital clues people leave online often know their most sensitive health information _ gleaned from web searches, health apps and location trackers
May 18
May 18

Green options transforming a wedding industry prone to waste

Brides and grooms who want more sustainable options for their weddings are transforming an industry traditionally fraught with waste
May 18
This photo shows Anna Masiello and Diogo Linhares in Sintra, Portugal, on Feb. 14, 2021. Masiello has been sharing updates on social media about steps the two have taken to make their May wedding as sustainable as possible. (Anna Masiello via AP)
May 18

US, banks unveil plan to ease food crisis from Russia's war

Ahead of the G7 finance ministers’ meetings, the U.S. Treasury, several global development banks and other groups have unveiled a multi-billion dollar plan meant to address a worldwide food security crisis exacerbated by Russia’s war in Ukraine
May 18
United States Treasury Secretary Janet Yellen delivers the Tommaso Padoa Schioppa Lecture at the Brussels Economic Forum 2022 in Brussels, Tuesday, May 17, 2022. Secretary Yellen focussed on the way forward for the global economy in the wake of Russia's brutal war against Ukraine, and discussed the unmet challenges that would benefit from multilateral cooperation in the years ahead. (AP Photo/Olivier Matthys)
May 18

UK inflation hits 40-year high amid Russia's war in Ukraine

Britain’s inflation rate has risen to the highest level in 40 years as Russia's war in Ukraine fueled further increases in food and fuel prices
May 18
Shoppers pass a closed money exchange retail unit on Oxford Street in London, Wednesday, April 13, 2022. British consumer prices rose at their fastest pace in 30 years last month, fueled by soaring prices for household energy and motor fuels. The Office of National Statistics reported on Wednesday that inflation accelerated to 7% in the 12 months through March. (AP Photo/Kirsty Wigglesworth)
May 18

Europe's push to cut Russian gas faces a race against winter

Europeans are basking in the warmth of spring, but their governments are in a race against winter
May 18
FILE - A view of hardware of the Jauniunai Gas Compressor station, near Vilnius, Lithuania, ON May 5, 2022. Europeans are basking in the warmth of spring, but their governments are in a race against winter. They're trying to fill underground reserves while still cutting use of Russian natural gas over the war in Ukraine. It's a big job because there's not a lot of gas available in a tight global market. More gas export terminals will come online in 2024 to supply liquid gas by ship. But for now, plans to cut gas use from Russia and still fill reserves is a tall order. (AP Photo/Mindaugas Kulbis, File)
May 17

World shares advance despite losses on Wall Street

Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation
May 17
In this photo provided by the New York Stock Exchange, trader Colin Gaven works on the floor, Tuesday, May 17, 2022. Stocks rose in afternoon trading on Wall Street Tuesday as investors review an encouraging report on retail sales and a mixed batch of earnings updates from several big retailers. (Courtney Crow/New York Stock Exchange via AP)
May 17

Flight attendants' union supports Frontier-Spirit merger

The biggest U.S. union for flight attendants is backing Frontier Airlines' bid to buy Spirit Airlines
May 17
May 17

Global pollution kills 9 million people a year, study finds

A new study says pollution of all types is killing 9 million people a year
May 17
May 17

Nearly 43,000 people died on US roads last year, agency says

Nearly 43,000 people were killed on U.S. roads last year
May 17
Transportation Secretary Pete Buttigieg, center, speaks during a briefing at the White House in Washington, Monday, May 16, 2022, on the six-month anniversary of the bipartisan infrastructure law. He is joined by, from left, Environmental Protection Agency administrator Michael Regan, Interior Secretary Deb Haaland, and National Economic Council director Brian Deese. (AP Photo/Susan Walsh)
May 17

House Dems propose $28 million to address formula shortage

House Democrats have unveiled a $28 million emergency spending bill to address the shortage of infant formula in the United States
May 17
An employee walks near empty shelves where baby formula would normally be located at a CVS in New Orleans on Monday, May 16, 2022. President Joe Biden's administration has announced new steps to ease the national shortage of baby formula, including allowing more imports from overseas. (Chris Granger/The Times-Picayune/The New Orleans Advocate via AP)
May 17

Environmentalists oppose more life for California nuke plant

Dozens of environmental and anti-nuclear organizations are opposing any attempt to extend the operating life of California's last running nuclear power plant
May 17
FILE - This Nov. 3, 2008 file photo shows one of Pacific Gas and Electric's Diablo Canyon Power Plant's nuclear reactors in Avila Beach, Calif. Facing possible electricity shortages, California Gov. Gavin Newsom raised the possibility that the state's sole remaining nuclear power plant might continue operating beyond a planned closing by 2025, an idea that could revive a decades-old fight over earthquake safety at the site. Dozens of environmental and anti-nuclear groups are opposing an extension of the plant's life. (AP Photo/Michael A. Mariant, File)
May 17

Powell: Fed to keep hiking rates until it controls inflation

Chair Jerome Powell has underscored the Federal Reserve’s determination to keep raising interest rates until it has brought inflation under control
May 17
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, May 4, 2022 in Washington. The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point. (AP Photo/Alex Brandon)
May 17

How major US stock indexes fared Tuesday

Stocks rose steadily throughout the day and ended with broad gains as traders got back to buying again after a mostly miserable few weeks on Wall Street
May 17
May 17

United Airlines, Abbott rise; Walmart, Fluor fall

Stocks that traded heavily or had substantial price changes Tuesday: United Airlines, Abbott rise; Walmart, Fluor fall
May 17
May 17

Live updates | Ukraine official: 7 killed in Donetsk region

Ukrainian officials say seven civilians have been killed in Ukraine’s eastern Donetsk region as a result of Russian attacks
May 17
In this photo taken from video released by the Russian Defense Ministry Press Service on Tuesday, May 17, 2022, wounded Ukrainian servicemen lay in a bus as they are being evacuated as they are being evacuated from the besieged Azovstal steel plant in Mariupol, Ukraine. More than 260 fighters, some severely wounded, were pulled from a steel plant on Monday that is the last redoubt of Ukrainian fighters in the city and transported to two towns controlled by separatists, officials on both sides said. (Russian Defense Ministry Press Service via AP)
May 17

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels
May 17
May 17

AP Exclusive: Black Lives Matter has $42 million in assets

A new, 63-page IRS tax filing shared exclusively with The Associated Press shows the Black Lives Matter Global Network Foundation Inc. ended its last fiscal year with nearly $42 million in net assets
May 17
D'Zhane Parker, left, Cicley Gay, center, and Shalomyah Bowers pose for a portrait on Friday, May 13, 2022, in Atlanta. (AP Photo/Brynn Anderson)
May 17

Carnage, livestreamed: Tech platforms' role in mass killings

These days, mass shooters don’t stop with planning out their physical attacks.
May 17
Wayne Jones, left, looks on as his aunt JoAnn Daniels, holds a photograph of his mother Celestine Chaney, who was killed in Saturday's shooting at a supermarket, during an interview with The Associated Press in Buffalo, N.Y., Monday, May 16, 2022. (AP Photo/Matt Rourke)
May 17

FAA to let United use jets grounded after engine failure

Federal safety officials are moving to let United Airlines resume using about 50 planes that have been grounded since the engine of one of them blew apart over Denver last year
May 17
FILE - In this July 18, 2018, file photo, United Airlines commercial jets sit at a gate at Terminal C of Newark Liberty International Airport in Newark, N.J. Federal safety regulators have approved steps that will let United Airlines resume using dozens of Boeing 777 jets that have been grounded since the engine on one plane blew apart over Denver last year. The Federal Aviation Administration on Tuesday, May 17, 2022, confirmed that it has approved steps necessary for flights to resume using the planes, which have engines made by Pratt & Whitney. (AP Photo/Julio Cortez, File)
May 17

UK raises stakes in EU feud with threat to break Brexit deal

The British government says it will pass a law to scrap parts of the trade treaty it signed with the European Union less than two years ago
May 17
Britain's Prime Minister Boris Johnson with a Mark 3 shoulder launch LML (Lightweight Multiple Launcher) missile system, at Thales weapons manufacturer in Belfast, Monday May 16, 2022, during a visit to Northern Ireland. Johnson said there would be “a necessity to act” if the EU doesn't agree to overhaul post-Brexit trade rules that he says are destabilizing Northern Ireland's delicate political balance. Johnson held private talks with the leaders of Northern Ireland's main political parties, urging them to get back to work. (Liam McBurney/Pool via AP)
May 17

Walmart profit hit as inflation afflicts low-wage earners

Walmart reported stronger sales for the first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain
May 17
FILE - A Walmart employee helps a customer outside the Walmart store in Philadelphia, Wednesday, Nov. 17, 2021. Walmart reported stronger sales for the fiscal first quarter, Tuesday, May 17, 2022, but its profits took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a still snarled global supply chain. (AP Photo/Matt Rourke, File)
May 17

Retail sales rise 0.9% in April as consumers show resilience

U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high
May 17
Customers walk to a Trader Joe's market, Aug. 13, 2019, in Cambridge, Mass. Employees of a Trader Joe's grocery store in Hadley, Massachusetts have joined the surge of food service and retail workers nationwide trying to join a union to better their working conditions and benefits. (AP Photo/Charles Krupa, File)