AP National Business

LONDON (AP) — The Bank of England is likely to raise its key interest rate for the third time since December. It is pushing ahead faster than other central banks in combating a global wave of inflation fueled by soaring energy prices. Economists expect the Bank of England to boost its key rate to 0.75%

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stocks have surged while European markets opened lower after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Oil prices rose more than $4 per barrel. London and Frankfurt and Wall Street

LONDON (AP) — The Bank of England is likely to raise its key interest rate for the third time since December. It is pushing ahead faster than other central banks in combating a global wave of inflation fueled by soaring energy prices. Economists expect the Bank of England to boost its key rate to 0.75%

By ISABEL DEBRE Associated Press DUBAI, United Arab Emirates (AP) — An Emirati-flagged cargo ship has sunk in the Persian Gulf. The operations manager of the Salem Al Makrani Cargo company confirmed the Al Salmy 6 had sunk Thursday off Iran. He said that rescuers had saved 16 crew members. Another 11 had made it

TEHRAN, Iran (AP) — An Emirati-flagged cargo ship has capsized in the Persian Gulf. That’s according to reports Thursday by Iranian state media. The vessel was some 30 miles off the coast of Asaluyeh, the state-run IRNA news agency reported. IRNA said Iranian rescuers were trying to reach the vessel, which it said had 30

By JOE McDONALD AP Business Writer BEIJING (AP) — Washington has expelled another state-owned Chinese phone carrier from the U.S. market over national security concerns amid rising tension with Beijing. The Federal Communications Commission revoked authorization for Pacific Networks Corp. to provide domestic and international service. The U.S. is reducing Chinese access to American markets

By AAMER MADHANI and CHRIS MEGERIAN Associated Press WASHINGTON (AP) — Joe Biden set out to be the U.S. president who finally completed the “Asia pivot,” Washington lingo for a long-sought adjustment of U.S. foreign policy to better reflect China’s rise. But Biden’s ongoing recalibration has been jarred by Russia’s invasion of Ukraine, although it

By TOM KRISHER AP Auto Writer DETROIT (AP) — Drivers of bigger vehicles such as pickup trucks and SUVs are more likely to hit pedestrians while making turns than drivers of cars. That’s according to a new study released Thursday by the Insurance Institute for Highway Safety. It points to the increasing popularity of larger

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock prices have surged for a second day after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries. Hong Kong’s benchmark jumped almost 6% and Tokyo gained 3%. Shanghai, Seoul and Sydney

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Senate Banking Committee has approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve. The vote came Wednesday just hours after the central bank began what will be a difficult effort to combat inflation. Fed governor Lael Brainard was also

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Senate Banking Committee has approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve. The vote came Wednesday just hours after the Fed began what will be a difficult effort to combat inflation. Fed governor Lael Brainard was also approved

FORT MYERS, Fla. (AP) — A Florida couple has pleaded guilty to stealing nearly $900,000 in COVID-19 relief funds. Court records show Amber Bruey pleaded guilty Wednesday in Fort Myers federal court to multiple fraud charges. Her husband, Anthony Bruey, pleaded guilty to the same charges last month. According to court documents, the Brueys conspired

The Associated Press The U.S. Department of Energy has given a liquefied natural gas exporter operating in Louisiana and Texas permission for additional sales to every country in Europe as they seek to move away from Russian supplies amid Russia’s war on Ukraine. Cheniere Energy Inc. owns the Sabine Pass facility in Louisiana and its

By AYA BATRAWY Associated Press DUBAI, United Arab Emirates (AP) — British Prime Minister Boris Johnson has met with the de facto rulers of the United Arab Emirates and Saudi Arabia in efforts to ease gasoline prices as the West grapples with economic headwinds from Russia’s war in Ukraine. Johnson was seeking greater investments in

By DAVID BAUDER AP Media Writer NEW YORK (AP) — Former prime time anchor Chris Cuomo on Wednesday asked an arbitrator to award him $125 million for what he called his “unlawful” firing. Former CNN chief Jeff Zucker fired Cuomo in December, saying he hadn’t been aware of the extent the anchor had helped his

By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers Stocks shook off an afternoon stumble and ended higher on Wall Street Wednesday after the Federal Reserve announced its first interest rate hike since 2018. Bond yields also rose as the Fed started to pivot its policy to fighting inflation. As markets had anticipated, the