Home Depot posts record profit, revenue; sticks to outlook
Home Depot is seeing sustained demand for goods related to home improvement projects despite soaring prices and mortgage rates for homes. Despite record profit and…
AP Wire
Europe drought: German industry at risk as Rhine falls
BERLIN — Germany’s main industry lobby group warned today that factories might have to throttle production or halt it completely because plunging water levels on…
Norway hits export record amid soaring gas prices
STOCKHOLM — Norway’s exports reached a record in July, driven mainly by higher natural gas prices. The Scandinavian country’s statistics agency today said Norwegian exports…
Japan economy grows 2.2% in 2Q on revived consumer spending
TOKYO — Japan’s economy grew at an annual rate of 2.2% in the April-June quarter, the government said today, as consumer spending rebounded with the…
China cuts interest rate to shore up sagging economy
BEIJING — China’s central bank trimmed a key interest rate today to shore up sagging economic growth at a politically sensitive time when President Xi…
Warren Buffett’s company has bet over $45 billion on the oil sector
OMAHA, Neb. — Warren Buffett’s company has bought up more than $11 billion worth of Occidental Petroleum stock this year, giving Berkshire Hathaway control of…
Russia curtails oil shipments to central Europe
Several countries in Europe dependent on Russian energy suffered another with confirmation today that oil shipments have stopped through a critical pipeline. Russian state pipeline…
Most electric vehicles won’t qualify for federal tax credit
DETROIT — A tax credit of up to $7,500 could be used to defray the cost of an electric vehicle under the Inflation Reduction Act…
Iowa metal manufacturer settles U.S. government complaint
DES MOINES — A southwest Iowa company that makes metal castings used by military contractors in helicopters and other equipment has reached a settlement in…
Biden signs $280B CHIPS act in bid to boost US over China
WASHINGTON (AP) — President Joe Biden on Tuesday signed a $280 billion bipartisan bill to boost domestic high-tech manufacturing, part of his administration’s push to…