AP National Business

By THOMAS ADAMSON AP Fashion Writer PARIS (AP) — Huge spinning wheels, “floating” wooden blocks and suspended geometric shapes hovered over a surreal mini golf course Tuesday at Chanel’s remarkable couture show. This sublime, avant-garde decor was the work of Xavier Veilhan and marked the first time in its history that Chanel has entrusted a

By DAMIAN J. TROISE AP Business Writer Stocks are opening sharply lower again on Wall Street Tuesday, a day after a wild roller-coaster ride that erased an intraday plunge. Big technology stocks like Apple were leading the losses. The swings are coming as traders try to assess how a stubborn resurgence of inflation will affect

By MATT OTT AP Business Writer SILVER SPRING, Md. (AP) — U.S. consumer confidence declined this month as Americans became slightly less optimistic about their near-term financial prospects amid persistent inflation and the highly-contagious omicron variant of the coronavirus. The Conference Board, a business research group, said Tuesday that its consumer confidence index — which

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The International Monetary Fund is downgrading its forecast for the world economy this year. It cites as the cause for the lowered growth expectation the spread of COVID-19’s omicron variant, higher energy prices, an uptick in inflation and financial strains in China. The 190-country lending agency

General Electric Co. anticipates returning to revenue growth this year, even as it deals with supply chain challenges. The company said Tuesday that it anticipates aviation revenue rising more than 20% in 2022, dependent on the continued commercial market recovery. It foresees low- to mid-single-digit revenue growth in healthcare, driven by commercial efforts and new

The Associated Press Stocks are opening sharply lower again on Wall Street Tuesday, a day after a wild roller-coaster ride that erased an intraday plunge. Big technology stocks like Apple were leading the losses. The swings are coming as traders try to assess how a stubborn resurgence of inflation will affect the economy and how

By MEHMET GUZEL and ELENA BECATOROS Associated Press ISTANBUL (AP) — Rescue crews in Istanbul and Athens have cleared roads that came to a standstill after a massive cold front and snow storms hit much of Turkey and Greece. The weather had left countless people and vehicles in both cities stranded overnight in freezing conditions.

By DAVID EGGERT and TOM KRISHER Associated Press LANSING, Mich. (AP) — Michigan’s economic development board has approved $824 million in incentives and assistance for General Motors Co. to put electric vehicle and battery plants in its home state, adding as many as 4,000 jobs. The Detroit-based automaker plans to spend up to $4 billion

By JOSEF FEDERMAN Associated Press JERUSALEM (AP) — The former chairman of the Israeli spyware maker NSO Group says he has left the firm. But Asher Levy says his departure was planned months ago and is not linked to the recent turmoil surrounding the company. In an interview with The Associated Press on Tuesday, Levy

By ANNE D’INNOCENZIO The Associated Press NEW YORK (AP) — Walmart says it has taken a stake in agriculture startup Plenty, becoming the first large U.S. retailer to significantly invest in indoor vertical farming as a way to deliver fresher produce to its stores. Vertical farmers tout their high-quality produce that brings higher yields while

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — The International Monetary Fund is downgrading its forecast for the world economy this year. It cites as the cause for the lowered growth expectation the spread of COVID-19’s omicron variant, higher energy prices, an uptick in inflation and financial strains in China. The 190-country lending agency

By TOM MURPHY AP Health Writer Growing prescription drug and medical device sales nudged Johnson & Johnson past fourth-quarter earnings expectations, and the health care giant’s COVID-19 vaccine gained momentum as well. J&J’s one-shot vaccine rang up $1.62 billion in sales in the last quarter of 2021, or more than double what it had recorded

LONDON (AP) — Unilever, which makes Vaseline skin care products and Ben & Jerry’s ice cream, says it’s laying off 1,500 staff as part of a company-wide restructuring. The proposed changes mean that senior management jobs will be cut by about 15% while junior management roles will be reduced by 5%. The London-based consumer goods

By JON GAMBRELL Associated Press DUBAI, United Arab Emirates (AP) — One of the seven sheikhdoms in the United Arab Emirates says it will allow “gaming” while announcing a multibillion-dollar deal with casino giant Wynn Resorts. The announcement by Ras al-Khaimah comes after months of rumors about gambling coming to the UAE, home to skyscraper-studded

By CAROLYN THOMPSON Associated Press The administrators of the SAT say the exam will move from paper and pencil to a digital format. They say the shift will boost the test’s relevancy in an increasingly test-optional college admissions landscape. Test-takers will be able to use their own laptops. But they will still have to take

BERLIN (AP) — Vaccine maker BioNTech, Google and rail firm Deutsche Bahn are among the companies investing in African-founded artificial intelligence company InstaDeep. The company, now based in London, announced Tuesday that it has raised $100 million from investors, allowing it to expand its presence to the United States. The exact amounts invested by each

By KEN SWEET AP Business Writer Credit card company American Express said Tuesday that its fourth-quarter earnings rose 20% from a year earlier, as eager consumers spent record levels of money during the holiday season on the company’s namesake cards. AmEx posted a profit of $1.72 billion, or $2.18 a share, up from a profit

By GLENN GAMBOA AP Business Writer An art installation inspired by Vice President Kamala Harris, The New York Times’ “The 1619 Project” and “The Daily Show with Trevor Noah,” as well as charitable programs from Airbnb, Google, PayPal and the National Football League, are among the finalists for the inaugural Anthem Awards announced Tuesday. The

By TOM MURPHY AP Health Writer Johnson & Johnson edged past Wall Street’s fourth quarter earnings expectations, helped by growing pharmaceutical sales, but the health care giant’s revenue fell short. The world’s biggest maker of health care products also debuted a 2022 forecast on Tuesday that came in higher than expectations. J&J expects to post

By COLIN BERESFORD of NerdWallet Spend enough time in the personal finance corners of social media and you’re bound to come across someone talking about how much passive income they make — and it’s likely they make it sound pretty easy. Yet, there’s much more to it than what influencers might suggest. What some might