Even as Inflation Bites, Corporate Profits Remain Flush | Business News

By STAN CHOE, AP Business Writer NEW YORK (AP) — What’s immune to high inflation? So far, the profits at big US companies. Businesses are facing higher gasoline and heating bills, just like consumers, in addition to higher expenses for labor and raw materials. But unlike many middle- and lower-income Americans, they’ve been making more … Read more

Russia War Ends Era of Globalization That Kept Inflation Low | Business News

By PAUL WISEMAN, AP Economics Writer For decades, the free flow of trade across much of the world allowed the richest nations to enjoy easy access to low-priced goods and supplies. It meant solid and stable markets. And for households and businesses, especially in the United States and Europe, it meant an entire generation of … Read more

China Tries to Limit Economic Blow of Shanghai Shutdown | Business News

By JOE McDONALD, AP Business Writer BEIJING (AP) — As millions of Shanghai residents line up for coronavirus tests in the closed metropolis, authorities are promising tax cuts for shopkeepers and to keep its busy port functioning to limit disruptions to industry and trade. This week’s shutdown of most activities in China’s most populous city … Read more

Media Measuring Company Nielsen to Be Acquired in $16B Deal | Business News

By MICHELLE CHAPMAN, AP Business Writer Nielsen is being acquired for $16 billion, including debt, about a week after the media measurement company rejected a smaller offer earlier this month. Viewing data collected by Nielsen plays a big role in determining where billions in advertising dollars are spent each year. The company itself has annual … Read more

EXPLAINER: Why Bond Yields May Be Warning of a Recession | Business News

By STAN CHOE, AP Business Writer NEW YORK (AP) — One of the more reliable warning signals for an economic recession is starting to shine. The “yield curve” is watched for clues to how the bond market is feeling about the US economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve … Read more

FTC Sues Intuit to Stop ‘Bait-And-Switch’ TurboTax Ads | Business News

By TALI ARBEL, AP Business Writer The Federal Trade Commission is suing TurboTax maker Intuit, saying its ads for “free” tax filing misled consumers. Intuit says it will fight the suit. The consumer protection agency said Tuesday that millions of consumers cannot actually use the free tax-prep software option — two-thirds of tax filers in … Read more

With War Next Door, EU Is Warned on Cybersecurity Gaps | Business News

BRUSSELS (AP) — As Russia’s invasion of Ukraine accelerates European Union defense cooperation, a watchdog said Tuesday that EU institutions face vulnerabilities on another front: cybersecurity. The warning by the European Court of Auditors covers the wide range of EU bodies — from the executive arm based in Brussels to specialist agencies located across Europe … Read more

Asian Shares Higher Ahead of Russia-Ukraine Peace Talks | Business News

By ELAINE KURTENBACH, AP Business Writer BANGKOK (AP) — Asian shares were mostly higher Tuesday in muted trading ahead of another round of peace talks between Russia and Ukraine. Crude oil prices fell further after sinking 7% on Monday. Trading has remained choppy as investors trying to gauge what’s next for inflation and the global … Read more

Biden’s Budget Plan: Higher Taxes on Rich, Lower Deficits | Business News

By JOSH BOAK, Associated Press WASHINGTON (AP) — President Joe Biden released a budget blueprint Monday that calls for higher taxes on the wealthy, lower federal deficits, more money for police and greater funding for education, public health and housing. In essence, it tries to tell voters what a diverse and at times fractured Democratic … Read more

Spain Prepares Economic Support Plan Amid Energy Price Spike | Business News

MADRID (AP) — Spain’s government is readying a package of emergency economic measures worth 6 billion euros ($6.6 billion) in direct aid and tax breaks and 10 billion euros ($11 billion) in loans for families and businesses affected by the fallout from Russia’s invasion of Ukraine, Prime Minister Pedro Sánchez said Monday. The emergency plan … Read more

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