AP National Business

By TOM KRISHER AP Auto Writer DETROIT (AP) — After promising on Twitter, Tesla CEO Elon Musk has sold about 4.5 million shares of the electric car maker’s stock, raising over $5 billion. About $1.1 billion will go toward paying tax obligations for stock options. The sales were disclosed in 10 regulatory filings late Wednesday.

By PAUL WISEMAN AP Economics Writer WASHINGTON (AP) — Another month, another four-decade high for inflation. For the 12 months that ended in March, consumer prices rocketed 8.5%. That was the fastest year-over-year jump since 1981, far surpassing February’s mark of 7.9%, itself a 40-year high. Even if you toss out food and energy prices

By YURI KAGEYAMA AP Business Writer TOKYO (AP) — Asian shares are trading mixed after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street. In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark Nikkei 225

CHICAGO (AP) — Nike has agreed to extend its contract as the U.S. Soccer Federation’s equipment supplier, a relationship that began when it replaced Adidas on Jan. 1, 1995. The USSF announced the agreement but did not provide its exact length. The deal starts on Jan. 1, 2023, and runs through a potential bid to

By TOM KRISHER AP Auto Writer DETROIT (AP) — After promising on Twitter, Tesla CEO Elon Musk has sold about 900,000 shares of the electric car maker’s stock, netting over $1.1 billion that will go toward paying tax obligations for stock options. The sales, disclosed in two regulatory filings late Wednesday, will cover tax obligations

By NICK PERRY and JIM GOMEZ Associated Press WELLINGTON, New Zealand (AP) — Chinese President Xi Jinping has warned against letting tensions in the Asian-Pacific region cause a relapse into a Cold War mentality. His remarks on the sidelines of the annual Asia-Pacific Economic Cooperation forum came weeks after the U.S., Britain and Australia announced

By ANIRUDDHA GHOSAL AP Science Writer GLASGOW, Scotland (AP) — India’s environment minister says climate finance is not charity and rich countries should deliver on an unfulfilled promise to raise $100 billion a year to help poor nations adapt. Bhupender Yadav told The Associated Press in an interview that the success of the climate summit

NEW YORK (AP) — Boeing has reached a legal agreement with the victims’ families from the March 2019 crash in Ethiopia that involved its 737-Max aircraft, which claimed 157 lives. In the agreement, Boeing admitted that its software was to blame for the plane′s loss of control and destruction, and that the 737-Max was in

By NICK PERRY Associated Press WELLINGTON, New Zealand (AP) — Chinese President Xi Jinping has warned against letting tensions in the Indo-Pacific cause a relapse into a Cold War mentality. His remarks on the sidelines of the annual Asia-Pacific Economic Cooperation forum came weeks after the U.S., Britain and Australia announced a new security alliance

By JOSH BOAK and COLLEEN LONG Associated Press BALTIMORE (AP) — President Joe Biden is touting his $1 trillion infrastructure plan as an eventual fix for the nation’s inflation and supply chain woes — if Americans just have the patience to wait for the construction to begin. The president toured the Port of Baltimore Wednesday

By TALI ARBEL AP Technology Writer The Walt Disney Co. returned to a quarterly profit as it once again got a bump from reopened parks  but subscriber gains to its Disney+ streaming service slowed. Disney’s financial results on Wednesday came short of analyst predictions, and its shares dropped in aftermarket trading. The company based in

By ED WHITE Associated Press DETROIT (AP) — Investigators say an official at a suburban Detroit branch of the United Auto Workers took $2 million and spent it on cars, guns, luxury clothing and gambling. Tim Edmunds was secretary-treasurer of UAW Local 412. He’s charged with embezzlement and other crimes. Edmunds is the latest target

NEW YORK (AP) — Boeing reached a settlement with the victims’ families from the March 2019 crash that involved its 737-MAX aircraft, which claimed 157 lives. In its settlement, Boeing admitted that its software was to blame for ET 302′s loss of control and destruction, and that the 737-MAX was in an “unsafe condition” to

By TALI ARBEL AP Technology Writer The Walt Disney Co. returned to a quarterly profit as it once again got a bump from reopened parks. Disney has closed or limited capacity at its theme parks during the pandemic, weighing on revenue. But Burbank, California-based Disney’s financial results on Wednesday came short of analyst predictions, and

By DEE-ANN DURBIN AP Business Writer Plant-based meat maker Beyond Meat reported lower-than-expected sales in the third quarter due to a slump in U.S. demand. Beyond Meat said its sales increased 12.7% to $106.4 million for the July-September period. That was lower than the $109 million Wall Street forecast. Beyond Meat had lowered its sales

By MATT OTT AP Business Writer SILVER SPRING, Md. (AP) — Shares of Rivian Automotive jumped in their debut Wednesday, rising as much as 53% as investors look for the next big winner in the electric vehicle market. The closing price of $100,73 gave Rivian a market value of about $85.9 billion, greater than that

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday: Perrigo, Wendy’s fall; RingCentral, Newmont rise.

By DEE-ANN DURBIN AP Business Writer The federal government is suing Uber saying it discriminates against disabled people by charging fees when drivers have to wait for passengers to board their vehicles. Uber says it has already made changes and denies that it’s discriminating. According to the Department of Justice, Uber began adding the wait

By DAVID PORTER Associated Press A lawsuit in which workers accuse a Hindu organization of human trafficking for luring them from India to build a temple in New Jersey for as little as $1.20 a day has widened to four other states. In an amended lawsuit filed last month, workers claim they were exploited at

By TERRY SPENCER and TOM KRISHER Associated Press FORT LAUDERDALE, Fla. (AP) — Federal investigators say a Tesla driver killed with a passenger in a fiery September crash near Miami had accelerated to 90 mph before smashing into trees. The National Transportation Safety Board said Wednesday that the 20-year-old driver accelerated his 2021 Model 3