Inflation hits record 8.9% in euro area, but economy grows
LONDON (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled…
AP Wire
Sony sees profit rise despite waning interest in video games
TOKYO — Sony’s profit edged up 3% in the last quarter, weathering production setbacks from COVID-19 lockdowns in Shanghai and a trend away from video…
Fewer Americans applied for jobless benefits last week
WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000…
US economy shrinks for a 2nd quarter, raising recession fear
WASHINGTON (AP) — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears…
Nestle reports higher sales even as it raises prices
VEVEY, Switzerland — Global food giant Nestle, which makes everything from Purina pet food to KitKat candy bars and Gerber baby food, reported higher sales…
MasterCard: Q2 earnings snapshot
PURCHASE, N.Y. — MasterCard Inc. today reported second-quarter earnings of $2.28 billion. On a per-share basis, the company said it had profit of $2.34. Earnings,…
US not yet in recession and 4 other takeaways from the Fed
WASHINGTON — Jerome Powell delivered a tough message at the start of a news conference Wednesday: Inflation is way too high, and the Federal Reserve…
Samsung logs 12% profit increase in 2Q on strong chip demand
SEOUL, South Korea — Samsung Electronics Co. has reported its operating profit rose 12% in the April-June quarter thanks to strong demand for server chips….
Shell posts record earnings again as energy prices soar
LONDON — Shell posted record profits today for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas…
Nissan’s profits plunge on COVID lockdown, chips crunch
TOKYO — Japanese automaker Nissan’s profit plunged in the last quarter to less than half of what it was a year earlier as the COVID-19…