AP National Business

By MATTHEW DALY Associated Press WASHINGTON (AP) — As Russian troops move deeper into Ukraine, President Joe Biden is taking steps to rein in rising energy costs – even if those moves run counter to his agenda for addressing climate change. The crisis threatens to derail Biden’s clean-energy strategy in the short term as officials

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — Wall Street took another sharp swing Wednesday, this time back to rally mode, as stocks and Treasury yields rose even as oil prices continued to climb. The S&P 500 rose 1.9%, putting it back into the green for the week, after Federal

By ARITZ PARRA Associated Press MADRID (AP) — Spanish prosecutors are shelving two investigations into alleged financial wrongdoing in Juan Carlos I’s business dealings that prompted the former monarch to move from Spain to Abu Dhabi. Prosecutors said Wednesday they didn’t find evidence that could be prosecuted, because the monarch was protected by immunity until

By JOSH BOAK Associated Press WASHINGTON (AP) — President Joe Biden and U.S. allies in a matter of days have weaponized the global economy against Russia for invading Ukraine. The resulting destruction has been devastatingly fast. The sanctions almost instantly put Russian President Vladimir Putin on the defensive against skyrocketing inflation. Russia’s central bank was

By STAN CHOE AP Business Writer NEW YORK (AP) — Oil prices kept surging Wednesday and topped $110 per barrel as Russia’s war continues against Ukraine, but stocks and other markets were showing less fear than a day earlier. The S&P 500 was 1% higher in morning trading, while Treasury yields jumped to recover a

By CATHY BUSSEWITZ AP Business Writer NEW YORK (AP) — The leaders of OPEC and its oil-producing allies are sticking with their plan to gradually increase oil production while Russia’s invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing. The OPEC+ coalition of oil producers on Wednesday chose

By JILL LAWLESS Associated Press Russia’s war on Ukraine has sent shockwaves through the global community of wealthy Russians who have built luxurious lives in the West while keeping close to the Kremlin. Some have begun, tentatively, to speak out. London’s Evening Standard ran a front-page statement by the newspaper’s Russia-born owner, Evgeny Lebedev, headlined:

By STAN CHOE AP Business Writer NEW YORK (AP) — Oil prices are surging again as Russia continues its assault on Ukraine, pushing crude up to $110 a barrel. Higher energy prices could worsen the inflation that’s already threatening economies everywhere and prompting concern among central banks. Federal Reserve Chair Jerome Powell is telling Congress

By SUMAN NAISHADHAM Associated Press WASHINGTON (AP) — Farmers in central California will be getting little to no water again this year from the federal government amid a persisting drought, but exactly how they’re affected will vary. The Bureau of Reclamation said last week it will not be able to provide water from the Central

By MICHELLE CHAPMAN AP Business Writer Ford will split its electric vehicle and internal combustion operations into two individual businesses to accelerate its adaptation of new technology. The Detroit automaker said Wednesday that its transformation into an EV company is accelerating. Ford plans a major restructuring with two distinct but strategically interdependent auto businesses –

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — Chair Jerome Powell said he supports a traditional quarter-point increase in the Federal Reserve’s benchmark short-term interest rate when the Fed meets later this month, rather than a larger increase that some of its policymakers have proposed. But Powell did open the door to a bigger

By JAMES MacPHERSON Associated Press BISMARCK, N.D. (AP) — North Dakota’s biggest oil driller says it will commit $250 million to help fund a proposed pipeline that would gather carbon dioxide produced by ethanol plants across the Midwest and pump it underground for permanent storage. Billionaire oil tycoon Harold Hamm’s Continental Resources said Wednesday it’s

NEW YORK (AP) — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian cities, while premarket trading on Wall Street pointed toward a higher open. Investors appeared to take in stride Federal Reserve Chair Jerome Powell’s comments Wednesday that the Fed will begin raising interest rates this month

LIVERPOOL, England (AP) — Everton has halted its major sponsorship with companies belonging to Alisher Usmanov. Usmanov is a Russian metals tycoon who has been sanctioned by the European Union. The move came in the wake of Russia’s invasion of Ukraine. Everton says it had “suspended with immediate effect all commercial sponsorship arrangements with the

By MICHELLE CHAPMAN AP Business Writer Ford will split its electric vehicle and internal combustion operations into two individual businesses to accelerate its adaptation of new technology. The Detroit automaker said Wednesday that its transformation into an EV company is accelerating. Ford plans a major restructuring with two distinct but strategically interdependent auto businesses –

BERLIN (AP) — Germany is removing all countries currently on its list of “high-risk areas” as part of a rethink of its coronavirus travel rules that will take effect on Thursday. The country’s disease control center said that from now on Germany’s list will only include places where high infection rates are linked to variants

By RONALD MONTOYA Edmunds A build-to-order vehicle from the factory ensures you get the exact car, color and option combination that you want. It’s a little-known method to save time tracking down a vehicle that fits your needs.

The Associated Press NEW YORK (AP) — Ford is splitting its electric vehicle and internal combustion divisions into separate businesses. The automaker said Wednesday that its plan includes two distinct, but strategically interdependent, auto businesses – Ford Blue focusing on traditional combustion engines and Ford Model e, which will develop electric vehicles. Ford is already

By SALLY FRENCH of NerdWallet Driven in part by pressure for contactless interactions during the pandemic, technology is rapidly evolving in the travel industry. The latest developments include major hotel brands enabling guests to add digital room keys or unlock rooms through their smart devices. Virtual queues can reduce your time waiting in line. Meanwhile,

By KELVIN CHAN AP Business Writer LONDON (AP) — Inflation in Europe hit a record high for the fourth month in a row. The European Union statistics agency reported Wednesday that consumer prices in the 19 countries that use the euro currency increased by an annual 5.8% in February. The latest numbers show continuing pain