AP National Business

NEW YORK (AP) — U.S. markets were poised to open lower Wednesday as investors weighed mixed U.S. retail sales data and potentially more aggressive rate hikes from the Federal Reserve. On Wall Street, futures for the S&P 500 index was down 0.8% and the same for the Dow Jones Industrial Average was off 0.6%. Markets

BRUSSELS (AP) — The European Union’s executive arm moved Wednesday to jump-start plans for the 27-nation bloc to abandon Russian energy amid the Kremlin’s war in Ukraine, proposing a nearly 300 billion-euro ($315 billion) package that includes more efficient use of fuels and faster rollout of renewable power. The European Commission’s investment initiative is meant

By SALLY FRENCH of NerdWallet Many major hotel chains are embracing all-inclusive offerings. For example, Hyatt recently announced an integration with AMR Collection brands, a group of about 100 all-inclusive resorts. Others, including Walt Disney World Resort, are workshopping the all-inclusive model, offering more specialized entertainment or outdoor access. These vacation packages are attractive to

By ANNE D’INNOCENZIO AP Business Writer NEW YORK (AP) — Target’s first-quarter profit took a big hit from higher costs, despite strong sales growth. Target’s results Wednesday reflect the pressure on retailers’ profits coming from surging inflation and persistent clogs in the supply chain. Minneapolis-based Target reported that its net income fell 52% from a

By OLEKSANDR STASHEVSKYI and CIARAN McQUILLAN Associated Press KYIV, Ukraine (AP) — Russia said Wednesday that nearly 1,000 Ukrainian troops making their last stand in Mariupol have surrendered, edging ever closer to the end of the battle that turned the city into a symbol of resistance and suffering. The fighters trooping out of the ruins

By JAN M. OLSEN Associated Press COPENHAGEN, Denmark (AP) — Danish media say four European Union countries plan to build North Sea wind farms capable of producing at least 150 gigawatts of energy by 2050. Under the plan, wind turbines would be raised off the coasts of Belgium, the Netherlands, Germany and Denmark, daily Danish

BEIJING (AP) — China said Wednesday that U.S. investigators haven’t released any information about the cause of a China Eastern Airlines jetliner crash in March after The Wall Street Journal reported its flight data recorder indicated someone pushed the Boeing 737-800 into a steep dive. American investigators confirmed to the Civil Aviation Administration of China

By JOE McDONALD AP Business Writer BEIJING (AP) — Global stock markets were mixed and Wall Street futures were lower Wednesday after positive U.S. retail sales data helped to offset concern the Federal Reserve might consider more rate hikes to cool inflation. London and Frankfurt opened lower. Tokyo and Seoul advanced, while Shanghai declined. Oil

BERLIN (AP) — Germany’s three governing parties plan to strip former Chancellor Gerhard Schroeder of his office and staff after he maintained and defended his long-standing ties with Russia despite the war in Ukraine. Schroeder’s own Social Democratic Party said Wednesday that lawmakers on the parliamentary budget committee had agreed to link some of the

By JAMEY KEATEN Associated Press GENEVA (AP) — U.N. Secretary-General Antonio Guterres is launching a five-point plan to jump-start broader use of renewable energies as the U.N. weather agency reported that greenhouse gas concentrations, ocean heat, sea-level rise, and ocean acidification reached record highs last year. The World Meteorological Organization issued its State of the

By The Associated Press While Europeans bask in the warmth of spring, governments are in a race against winter. Europe is trying to cut use of Russian natural gas because of the war in Ukraine, but still find enough fuel to keep the lights on and homes warm before it gets cold again. That has

By LORNE COOK Associated Press BRUSSELS (AP) — NATO Secretary-General Jens Stoltenberg said Wednesday that the military alliance stands ready to seize a historic moment and move quickly on allowing Finland and Sweden to join its ranks, after the two countries submitted their membership requests. The official applications, handed over by Finland and Sweden’s ambassadors

LONDON (AP) — 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. The Office of National Statistics says consumer price inflation accelerated to 9% in the 12 months through April. The agency says that’s the highest rate since 1982,

By LORNE COOK Associated Press BRUSSELS (AP) — NATO Secretary-General Jens Stoltenberg said Wednesday that Finland, Sweden have officially applied to join the world’s biggest military alliance, a move driven by security concerns over Russia’s war in Ukraine. “I warmly welcome the requests by Finland and Sweden to join NATO. You are our closest partners,”

By JOE McDONALD AP Business Writer BEIJING (AP) — 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. Shanghai and Hong Kong declined. Tokyo and Seoul advanced. Oil prices rose to stay above $110 per barrel. On

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Japan’s economy shrank at an annual rate of 1% in the first quarter, as rising prices and COVID-19 restrictions deadened spending and investment. The Cabinet Office says Japan’s real gross domestic product, or GDP, the sum of the value of a nation’s products and services, contracted