AP National Business

By AYA BATRAWY Associated Press DUBAI, United Arab Emirates (AP) — A regulatory body in Dubai is fining the Pakistani-born founder of Abraaj Group a staggering penalty of $135.5 million. The now defunct Mideast private-equity firm’s founder and CEO, currently in Britain, is accused of fraud and misleading investors, including in the U.S. where prosecutors

By MARI YAMAGUCHI Associated Press TOKYO (AP) — Six people who were children living in Fukushima at the time of the 2011 nuclear disaster and have since developed thyroid cancer have filed a lawsuit demanding a utility pay compensation. The plaintiffs are demanding a total of $5.4 million from the Tokyo Electric Power Company Holdings,

BRUSSELS (AP) — The European Union says it’s launched action against China at world trade’s governing body for discriminatory practices against Lithuania. The bloc says Beijing’s spat with the Baltic country is hitting other EU exports. Lithuania broke with diplomatic custom by agreeing that the Taiwanese office in Vilnius would bear the name Taiwan instead

TOKYO (AP) — Mitsubishi Heavy Industries and the Japan Atomic Energy Agency have signed an agreement to participate in a next-generation nuclear energy project with TerraPower, a company started by Bill Gates. The memorandum of understanding is on cooperating in developing advanced nuclear technologies. Based in Kemmerer, Wyoming, the demonstration project will use a nontraditional,

By JOE McDONALD AP Business Writer BEIJING (AP) — Asian stock markets have tumbled by unusually wide margins after the Federal Reserve indicated it plans to start raising interest rates soon to cool inflation. Tokyo’s market benchmark fell more than 3%. Hong Kong and Seoul sank more than 2%. Wall Street’s benchmark S&P 500 index

SAN DIEGO (AP) — A U.S. Navy commander admitted in federal court in San Diego to sending a Malaysian defense contractor classified ship schedules for the Navy’s 7th Fleet in exchange for extravagant meals, luxury travel, cash and the services of prostitutes. The U.S. Attorney’s Office says Commander Stephen Shedd is the third member of

By SYLVIA HUI Associated Press LONDON (AP) — Most coronavirus restrictions, including mandatory face masks, have been lifted in England after Britain’s government said its vaccine booster rollout successfully reduced serious illness and COVID-19 hospitalizations. From Thursday, face coverings are no longer required by law anywhere in England, and a legal requirement for COVID passes

By TOM KRISHER AP Auto Writer DETROIT (AP) — Tesla Inc. has posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips. Although the company predicted it would build 50% more vehicles than it made last year, CEO Elon Musk says the chip shortage will

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will likely begin a series of interest-rate hikes in March. That would reverse pandemic-era low-rate policies that have fueled hiring and growth — and stock market gains — but also high inflation. Chair Jerome Powell said at a news

By MICHAEL R. SISAK Associated Press NEW YORK (AP) — New York’s attorney general wants to put a stop to former President Donald Trump’s attempted end-run around a yearslong civil investigation into his business practices. Attorney General Letitia James asked a judge Wednesday to dismiss a lawsuit aimed at halting the probe. James argued in

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Online fashion retailer Fashion Nova will be required to pay $4.2 million to settle allegations that it blocked negative reviews of its products from being posted to its website, according to the federal agency. The Federal Trade Commission said in a complaint Tuesday that the

SAN JUAN, Puerto Rico (AP) — Puerto Rico’s Senate says it was the target of a cyberattack that disabled its internet provider, phone system and official online page. It is the latest in a string of similar incidents in recent years. Senate President José Luis Dalmau said in a statement Wednesday that there is no

CAMBRIDGE, Mass. (AP) — Moderna has begun testing an omicron-specific version of its COVID-19 vaccine in healthy adults. Moderna announced the study Wednesday. Earlier this week, competitor Pfizer began similar research with its reformulated shots. It’s not clear that global health authorities will decide the vaccines need to be changed. The shots still offer strong

By ANNE D’INNOCENZIO AP Retail Writer NEW YORK (AP) — Online fashion retailer Fashion Nova will be required to pay $4.2 million to settle allegations that it blocked negative reviews of its products from being posted to its website, according to the federal agency. The Federal Trade Commission said in a complaint Tuesday that the

By WAYNE PARRY Associated Press LACEY TOWNSHIP, N.J. (AP) — For the second time in as many months, the U.S. Nuclear Regulatory Commission has fined the owners of a former New Jersey nuclear power plant for security-related violations. The agency said Wednesday it fined Holtec Decommissioning International $50,000 for security violations at the former Oyster

By LARRY NEUMEISTER Associated Press NEW YORK (AP) — A California lawyer says Michael Avenatti jumped at the chance to represent porn star Stormy Daniels in 2018, saying he’d do it for a dollar. The testimony Wednesday by attorney Sean Macias was expected to set the stage for Daniels to take the witness stand on

By GARY D. ROBERTSON Associated Press RALEIGH, N.C. (AP) — A Colorado-based aviation company has chosen North Carolina as the location for a new plant that will manufacture next-generation supersonic passenger jets. Boom Supersonic announced on Wednesday that Piedmont Triad International Airport in Greensboro will be the home for its first full-scale manufacturing facility. The

By TOM KRISHER AP Auto Writer DETROIT (AP) — Tesla Inc. has posted record fourth-quarter and full-year earnings. The results came as its vehicle deliveries soared last years despite a global shortage of computer chips that has slowed the entire auto industry. The Austin, Texas, company made $5.5 billion last year compared with the previous

Stocks that traded heavily or had substantial price changes Wednesday: Microsoft, Corning rise; Navient, F5 fall.