Bank of America first-quarter profits fall 12%, much less than rivals
NEW YORK — Bank of America posted a 12% decline in first-quarter profits from a year earlier, a decline that was much less than the…
AP Wire
Congress seeks compromise to boost computer chip industry
WASHINGTON (AP) — A global computer chip shortage has made it harder for consumers to get their hands on cars, computers and other modern-day necessities,…
Biden to require U.S.-made steel, iron for infrastructure
WASHINGTON — The Biden administration is taking a key step to ensuring that federal dollars will support U.S. manufacturing — issuing requirements for how projects…
China’s economy grows still-weak 4.8% in January-March
BEIJING — Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to…
Twitter adopts ‘poison pill’ defense in Musk takeover bid
PROVIDENCE, R.I. — Twitter said today that its board of directors has unanimously adopted a “poison pill” defense in response to Tesla CEO Elon Musk’s…
Modest-income buyers being priced out of new-vehicle market
DETROIT — Two years after the pandemic tore through the economy, America’s auto market looks something like this: Prices are drastically up. Supply is drastically…
Nepal running low on foreign exchange, discourages imports
KATHMANDU, Nepal — Nepal is running low on foreign currency reserves needed to import medicines, oil products, cars and a range of other items, and…
Biden picks Michael Barr for Fed’s bank regulation post
WASHINGTON — President Joe Biden said today he plans to nominate Michael Barr, the dean of the University of Michigan’s public policy school, to be…
Big bank profits decline as deal-making, mortgages slow
NEW YORK (AP) — Four big banks reported noticeable declines in their first-quarter profits Thursday, as the volatile markets and war in Ukraine caused deal-making…
IMF chief: Ukraine war and inflation threaten global economy
WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia’s war against Ukraine was weakening the economic prospects for most of…