US Stocks Fall as Inflation Remains Stubbornly High | Business News

US Stocks Fall as Inflation Remains Stubbornly High |  Business News

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers NEW YORK (AP) – Stocks fell in afternoon trading on Wall Street as investors received another dire readout on inflation. The S&P 500 fell 1.5% as of 2:31 pm Eastern. The Dow Jones Industrial Average fell 462 points, or 1.5%, to 31,368 and the Nasdaq … Read more

Years Late, London’s ‘Game-Changer’ Subway Line Set to Open | Business News

By JILL LAWLESS, Associated Press LONDON (AP) – Andy Byford points out the cathedral-like ceiling, the crystal-clear acoustics, the “pureness of the aesthetic” that surrounds him. The head of London’s public transport system is rhapsodizing about a subway station – part of a new line he says will be “the envy of the world” when … Read more

Protesters Vent Fury at French Company for Staying in Russia | Business News

By VANESSA GERA, Associated Press WARSAW, Poland (AP) – A man in a Russian military uniform stood at the entrance of a large home improvement store in Poland’s capital, saluting shoppers and thanking them for funding Russian President Vladimir Putin’s war in Ukraine. His chest bedecked with medals, Polish activist Arkadiusz Szczurek was protesting at … Read more

Beyond Meat Shares Tumble on Disappointing Q1 | Business News

By DEE-ANN DURBIN, AP Business Writer Plant-based meat company Beyond Meat reported lower-than-expected revenue in the first quarter as it slashed prices and demand from restaurants fell. The El Segundo, California, company said its revenue rose 1.2% to $ 109.5 million in the January-March period. Wall Street had forecast revenue of $ 112 million, according … Read more

Coinbase Loses Half Its Value in a Week as Crypto Slumps | Business News

By MATT OTT, AP Business Writer SILVER SPRING, Md. (AP) – Cryptocurrency trading platform Coinbase has lost half its value in the past week, including its biggest one-day drop 5o date on Wednesday as the famously volatile crypto market weathers yet another slump. Coinbase reported a $ 430 million net loss in the first quarter, … Read more

Britain Pledges to Come to Sweden’s Aid if Attacked | Business News

By JAN M. OLSEN, Associated Press COPENHAGEN, Denmark (AP) – Britain pledged to come to Sweden’s aid if the country came under attack, with Prime Ministers Boris Johnson and Magdalena Andersson signing a security assurance deal outside Stockholm on Wednesday. Sweden and Finland are pondering whether to join NATO following Russia’s invasion of Ukraine on … Read more

Toyota’s Quarterly Profit Down on COVID Parts Crunch | Business News

By YURI KAGEYAMA, AP Business Writer TOKYO (AP) – Toyota’s profit declined 31% in the January-March quarter from the year before, but the Japanese automaker still wrapped up a year of record earnings. Toyota Motor Corp. reported Wednesday a profit of 533.8 billion yen ($ 4.1 billion) in the last quarter, down from 777.1 billion … Read more

Asian Stocks Mixed, China Gains Ahead of US Price Data | Business News

By ELAINE KURTENBACH, AP Business Writer Shares were mixed in Asia on Wednesday with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street. Hong Kong’s Hang Seng rose 1.7% to 19,967.25 and the Shanghai Composite index climbed 1.5% to 3,082.50. That followed the release … Read more

Asian Stocks Mixed, China Gains Ahead of US Price Data | Business News

By ELAINE KURTENBACH, AP Business Writer Shares were mixed in Asia on Wednesday with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street. Hong Kong’s Hang Seng rose 1.1% to 19,853.66 and the Shanghai Composite index climbed 1.4% to 3,079.40. Tokyo’s Nikkei 225 added … Read more

US, Italy United on Ukraine, With Slightly Different Tones | Business News

By COLLEEN BARRY, Associated Press MILAN (AP) – Italian Premier Mario Draghi meets with US President Joe Biden this week in Washington as Europe faces another “whatever it takes” moment with Russia’s war in Ukraine raging on its eastern flank. Both Rome and Washington will emphasize their historic friendship and shared desire to help Ukraine … Read more

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