AP National Business

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — The Federal Reserve will start dialing back its ultra-low-interest rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed’s extraordinary response to the pandemic recession. Such a move could lead to

By MARTIN CRUTSINGER AP Economics Writer WASHINGTON (AP) — Growth in U.S. consumer spending slowed in July to a modest increase of 0.3% while inflation over the past 12 months rose to the fastest pace in three decades. The July increase in spending was down sharply from a 1.1% rise in June, the Commerce Department

BERLIN (AP) — The Swiss government has approved the extradition of a key figure sought by Germany in a massive tax evasion case. The Federal Office of Justice said Friday that it had given the green light on Aug. 20 for the extradition of German lawyer Hanno Berger. The lawyer, who was arrested in Switzerland

Peloton says it’s been subpoenaed by the Justice Department and the Department of Homeland Security for documents and other information related to its reporting of injuries associated with its products. The exercise equipment company also said in a regulatory filing on Friday that the Securities and Exchange Commission is “investigating our public disclosures concerning these

VIENNA (AP) — A Vienna court has convicted former Austrian Vice Chancellor Heinz-Christian Strache of corruption for trying to change laws to favor a private hospital in exchange for donations to his party. Austrian public broadcaster ORF reported Friday that Strache received a 15-month suspended prison sentence for accepting two bribes totaling 12,000 euros ($14,100).

BEIJING (AP) — Chinese regulators will exercise greater control over the algorithms used by Chinese technology firms to personalize and recommend content, in the latest move in a regulation spree across the internet sector. China’s internet watchdog on Friday released a draft proposal of “algorithm recommendation management regulations.” It aims to manage how technology companies

By STAN CHOE AP Business Writer NEW YORK (AP) — Wall Street rallied to records Friday after the head of the Federal Reserve said it’s still far from pulling interest rates off the record low that has helped the market soar, even if it does begin dialing back its support for the economy later this

By NICK PERRY Associated Press WELLINGTON, New Zealand (AP) — By early next week, New Zealanders should know if their government’s strict new lockdown is working to stamp out its first coronavirus outbreak in six months. A successful effort could again make the nation’s virus response the envy of the world. A failure could expose

By ASTRID GALVAN and MIKE SCHNEIDER Associated Press SOMERTON, Ariz. (AP) — The results of the 2020 headcount have many Latino and Black communities concerned about whether the latest numbers are accurate. In Somerton, Arizona, a small city near the U.S.-Mexico border that is overwhelmingly Hispanic, leaders say the results make no sense. They’ve seen

SOUTH LAKE TAHOE, Calif. (AP) — Firefighters battling a stubborn California wildfire near the Lake Tahoe resort region are facing gusty winds and dry conditions that make vegetation ready to burn. The Caldor Fire has proved so difficult to fight that fire managers this week pushed back the projected date for full containment from Aug.

By MICHAEL LIEDTKE AP Technology Writer BERKELEY, Calif. (AP) — Apple has agreed to let developers of iPhone apps email their users about cheaper ways to pay for digital subscriptions and media by circumventing a commission system that generates billions of dollars annually for the iPhone maker. The concession announced late Thursday is part of

BOSTON (AP) — Federal investigators have arrested three individuals on charges of conspiring to deceive banks into allegedly processing more than $150 million in credit and debit card payments on behalf of merchants involved in prohibited and high-risk businesses. A fourth individual remains at large. Three were executives at Allied Wallet, Inc., a payment processing

HAVANA (AP) — Cuba’s government says it will recognize — and regulate — cryptocurrencies for payments on the island. A resolution published in the Official Gazette said the Central Bank will set rules for such currencies and determine how to license providers of related services within Cuba. The popularity of such currencies has grown among

By DAVID KOENIG AP Airlines Writer DALLAS (AP) — Southwest Airlines is reducing the number of flights it will operate the rest of this year. Southwest has struggled all summer with high numbers of delayed and canceled flights. CEO Gary Kelly said Thursday that the cuts in the schedule should create a more reliable travel

By DAVID KOENIG AP Airlines Writer DALLAS (AP) — Ask anyone old enough to remember travel before Sept. 11, 2001, and you’re likely to get a gauzy recollection of what flying was like. There was security screening, but it wasn’t intrusive. There were no long checkpoint lines. Passengers and their families could walk right to

By JOHN RABY Associated Press CHARLESTON, W.Va. (AP) — A grassroots group is using the centennial of a deadly fight to organize West Virginia coal miners to urge Sen. Joe Manchin to support higher wages and better voting protections. Members of the Poor People’s Campaign invoked the 1921 Battle of Blair Mountain after traveling by

By DON THOMPSON Associated Press SACRAMENTO, Calif. (AP) — California lawmakers will wait until next year to consider decriminalizing psychedelics. Sen. Scott Wiener said Thursday that he will keep working to persuade the public and legislators that it’s a good idea. The bill would allow those 21 and older to possess for personal use small

NEW YORK (AP) — Peloton’s shares have skidded in aftermarket trading. The exercise bike and treadmill company posted a loss for its most-recent quarter, showed slower revenue growth, and cut the price of its most-popular product. Peloton Interactive Inc. reported a net loss of $313.2 million in the quarter that ended June 30. That compared

By OLGA R. RODRIGUEZ Associated Press SAN FRANCISCO (AP) — Al Capone is infamous for having been a ruthless mob boss, but one of his granddaughters says Capone’s softer side will shine through when the family auctions some of his personal belongings in October. Items heading for the block include a diamond-encrusted pocket watch, family

DANVILLE, Va. (AP) — Officials say Arkansas-based Tyson Foods will invest $300 million to establish a manufacturing facility in Virginia’s Pittsylvania County that is expected to create 376 new jobs. Virginia Gov. Ralph Northam announced the project Thursday. Officials say the plant will be developed at an an industrial park jointly owned by the county