Vans Store Hat America Great Again

Best Buy's Q1 results show inflation's bite

Best Buy Co. posted first-quarter results that showed shoppers pulled back on their spending and higher costs ate into profits

6 minutes ago

Davos updates | Kerry says war shouldn't deter climate goals

U.S. climate envoy John Kerry says at the World Economic Forum's annual gathering in Davos that Russia's war in Ukraine shouldn't deter climate goals

14 minutes ago

Jens Stoltenberg, Secretary-General, North Atlantic Treaty Organization, NATO, center, attends the World Economic Forum in Davos, Switzerland, Tuesday, May 24, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)

Wall Street points lower, dragged down by tech, social media

U.S. markets were poised to open in negative territory Tuesday as worries over persistent inflation outweighed optimism brought by President Joe Biden's remark that he was considering reducing U.S. tariffs on Chinese imports

18 minutes ago

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, May 24, 2022. Asian shares were mostly lower on Tuesday as worries over inflation tempered optimism over President Joe Biden's remark that he was considering reducing U.S. tariffs on Chinese imports.(AP Photo/Ahn Young-joon)

Live updates | Russian officials: War goals to be achieved

Two top Russian security officials have vowed that Russia will achieve all the goals set for the "military operation" in Ukraine

18 minutes ago

A boy watches flags honoring soldiers killed fighting Russian troops in downtown Kyiv, Ukraine, Monday, May 23, 2022. (AP Photo/Natacha Pisarenko)

Stock market slump unsettling Americans eying retirement

Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working

20 minutes ago

Mark Bendell and his wife Laurie talk in their kitchen, Monday, May 23, 2022, in Boca Raton, Fla. A stock market slump this year, which has taken big bites out of investors' portfolios, including retirement plans like 401(k)s, is worrying Americans who are within a few years of retirement. (AP Photo/Marta Lavandier)

At Davos, climate debate over role of oil in 'going green'

Government and corporate leaders at the World Economic Forum are debating whether oil and gas companies can or should be part of the future transition to renewable energies such as wind and solar

36 minutes ago

Participants walk through the Davos Congress Center, the venue of the annual meeting of the World Economic Forum in Davos, Switzerland, Monday, May. 23, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May. 22 until May. 26, 2020. (AP Photo/Markus Schreiber)

Airbnb ends rentals in China to focus on outbound tourists

Airbnb Inc. says it will stop representing short-term rental properties in China and focus its business in the country on serving Chinese tourists looking for lodgings abroad

1 hour ago

FILE - Airbnb CEO Brian Chesky speaks during an event in San Francisco, Feb. 22, 2018. Airbnb Inc. announced Tuesday, May 24, 2022 it will stop representing short-term rental properties in China and focus its business in the country on serving Chinese tourists looking for lodgings abroad. (AP Photo/Eric Risberg, File)

Official: Nine Lebanese banks to withdraw from Cyprus

A representative of the Cyprus Central Bank says nine Lebanese banks are shutting down their operations on the island

1 hour ago

Biden: Leaders navigating 'dark hour' after Ukraine invasion

President Joe Biden has warned fellow leaders of the informal Indo-Pacific security coalition known as the Quad that they are "navigating through a dark hour in our shared history."

3 hours ago

Leaders of Quadrilateral Security Dialogue (Quad) from left to right, Australian Prime Minister Anthony Albanese, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida, and Indian Prime Minister Narendra Modi, pose for photo at the entrance hall of the Prime Minister's Office of Japan in Tokyo, Japan, Tuesday, May 24, 2022. (Sadayuki Goto/Kyodo News via AP)

More turn to UK food banks as food and fuel bills soar

Across Britain, food banks and community food hubs that helped struggling families, older people and the homeless during the pandemic are now seeing soaring demand

3 hours ago

Local resident Dave sits at the Community Food Hub in London, Wednesday, May 4, 2022. Across Britain, food banks and community food hubs that helped struggling families, older people and the homeless during the pandemic are now seeing soaring demand. The cost of food and fuel in the U.K. has risen sharply since late last year, with inflation reaching the highest level in 40 years. (AP Photo/Frank Augstein)

AP-NORC poll: Economy grows as priority on Russia response

Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges

May 24

FILE - High gas prices are seen in front of a medical billboard on May 11, 2022, in Milwaukee. Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges. That's according to a new poll from The Associated Press-NORC Center for Public Affairs Research. (AP Photo/Morry Gash, File)

Asian shares mostly lower as inflation worries cloud outlook

Asian shares are mostly lower as worries over inflation temper optimism over President Joe Biden's remark that he was considering reducing U.S. tariffs on Chinese imports

May 23

In this photo provided by the New York Stock Exchange, specialist Anthony Matesic works on the trading floor, Monday, May 23, 2022. Stocks rallied in afternoon trading on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020. (David L. Nemec/New York Stock Exchange via AP)

EXPLAINER: What's the 4-nation Quad, where did it come from?

Leaders of the U.S., Japan, Australia and India gathered in Tokyo on Tuesday for a summit of what's known as the Quad

May 23

Australian Prime Minister Anthony Albanese, right, and Foreign Minister Penny Wong arrive at Haneda International Airport in Tokyo, Monday, May 23, 2022. The newly sworn-in Australian Prime Minister Albanese is scheduled to attend a gathering in Tokyo of the four-country Indo-Pacific group known as the Quad.(Fumine Tsutabayashi/Kyodo News via AP)

What led to US baby formula shortage?

A variety of long-term and short-term factors led to empty shelves for parents searching for baby formula.

May 23

A variety of long-term and short-term factors led to empty shelves for parents searching for baby formula.

Amazon to sublease warehouses as online shopping slows

Amazon is planning to sublease some of its warehouse space because the pandemic-fueled surge in online shopping has slowed

May 23

Stellantis making Indiana announcement; may be battery plant

Stellantis has scheduled an announcement for Tuesday in Kokomo, Indiana, for what could be the company's second North American electric vehicle battery factory

May 23

FILE - The Stellantis sign is seen outside the Chrysler Technology Center, in Auburn Hills, Mich. Automaker Stellantis has scheduled an announcement for Tuesday, May 24, 2022, in Kokomo, Ind., for what could be the company's second North American electric vehicle battery factory. (AP Photo/Carlos Osorio, File)

Global Citizen NOW summit seeks solutions for global issues

The statistics discussed at the inaugural Global Citizen NOW conference were bleak

May 23

FILE - Hugh Evans, co-founder and CEO of Global Citizen, speaks during the Global Citizen festival, Saturday, Sept. 25, 2021, in New York. The statistics discussed at the inaugural Global Citizen NOW conference in New York Monday, May 23, 2022, were bleak. However, Evans said he feels optimistic. (AP Photo/Stefan Jeremiah, File)

DC sues Zuckerberg over Cambridge Analytica privacy breach

The District of Columbia has sued Meta chief Mark Zuckerberg

May 23

FILE - District of Columbia Attorney General Karl Racine attends a news conference near the White House in Washington, Feb. 26, 2018. On Monday, May 23, 2022, the District of Columbia sued Meta chief Mark Zuckerberg, seeking to hold him personally liable for the Cambridge Analytica scandal, a privacy breach of millions of Facebook users' personal data that became a major corporate and political scandal. Racine filed the civil lawsuit against Zuckerberg in D.C. Superior Court. (AP Photo/Andrew Harnik, File)

Facebook, Instagram to reveal more on how ads target users

Meta, the parent company of Facebook and Instagram, said it will start publicly providing more details about how advertisers target people with political ads

May 23

FILE - The mobile phone apps for, from left, Facebook, Instagram and WhatsApp are shown on a device in New York. The company that owns Facebook and Instagram said Monday, May 23, 2022, it will begin revealing more details about how advertisers target people with certain political ads, just months before the U.S. Midterm elections. (AP Photo/Richard Drew, File)

Starbucks leaving Russian market

Starbucks is pulling out of the Russian market

May 23

World Food Program chief presses billionaires 'to step up'

The head of the U.N.'s World Food Program is telling billionaires it's "time to step up" as the global threat of food insecurity rises because of Russia's war in Ukraine

May 23

David Beasley, Executive Director of the United Nations World Food Programme, arrives to a UN Security Council Meeting on Food Insecurity and Conflict, Thursday, May 19, 2022, at United Nations headquarters. (AP Photo/John Minchillo)

How major US stock indexes fared Monday

Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020

May 23

Brazil president announces carbon market, thin on details

Brazil's far-right President Jair Bolsonaro has announced the creation of a carbon market in Brazil but it is voluntary and the announcement is thin on the kind of details that make for a robust trading forum

May 23

FILE - Brazil's President Jair Bolsonaro arrives for a ceremony marking Army Day at Army headquarters in Brasilia, Brazil, April 19, 2022. Bolsonaro signed a decree on May 19, 2022 that he says will create a national carbon market to reduce greenhouse gas emissions. (AP Photo/Eraldo Peres, File)

JPMorgan Chase, Electronic Arts rise; Broadcom, Amazon fall

Stocks that traded heavily or had substantial price changes Monday: JPMorgan Chase, Electronic Arts rise; Broadcom, Amazon fall

May 23

Video game workers create first union at big U.S. game maker

Video game workers at a division of game publisher Activision Blizzard have voted to unionize, creating the first labor union at a large U.S. video game company

May 23

FILE - The Activision Blizzard Booth is shown on June 13, 2013, during the Electronic Entertainment Expo in Los Angeles. On Monday, May 23, 2022, a count of ballots will reveal the results of a labor union election affecting a small group of Wisconsin-based quality assurance testers at Activision Blizzard's Raven Software, which develops the popular Call of Duty game franchise. The unionization campaign by the employees has been part of a broader internal shakeup at Activision Blizzard, a Santa Monica, California-based gaming giant with roughly 10,000 employees worldwide. (AP Photo/Jae C. Hong, File)

Appeals court: Florida law on social media unconstitutional

A Florida law intended to punish social media platforms like Facebook and Twitter for allegedly discriminating against conservative thought is an unconstitutional violation of the First Amendment

May 23

FILE - Florida Gov. Ron DeSantis speaks at Miami's Freedom Tower, on Monday, May 9, 2022. A Florida law intended to punish social media platforms like Facebook and Twitter is an unconstitutional violation of the First Amendment, a federal appeals court ruled Monday, May 23, 2022, dealing a major victory to companies who had been accused by DeSantis of discriminating against conservative thought. (AP Photo/Marta Lavandier, File)

Davos updates | Urgent need in Afghanistan is saving economy

Two high-level speakers at the World Economic Forum gathering say Afghanistan's most urgent need is saving its economy from complete collapse

May 23

Ukrainian President Volodymyr Zelenskyy displayed on a screen as he addresses the audience from Kyiv on a screen during the World Economic Forum in Davos, Switzerland, Monday, May 23, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)

Closing prices for crude oil, gold and other commodities

Closing prices for crude oil, gold and other commodities, and foreign exchange levels

May 23

Pfizer says 3 COVID shots protect children under 5

Pfizer says three small doses of its COVID-19 vaccine protect kids under 5

May 23

FILE - A nurse holds a vial of the Pfizer COVID-19 vaccine for children ages 5 to 11, right, and a vial of the vaccine for adults, which has a different colored label, at a vaccination station in Jackson, Miss., Tuesday, Feb. 8, 2022. (AP Photo/Rogelio V. Solis, File)

Live updates | UN: Civilians being killed in Donetsk assault

United Nations spokesman Stephane Dujarric said Monday that U.N. staff on the ground remain concerned about the impact on civilians by the reported fierce fighting in eastern Luhansk, Donetsk and Kharkiv regions

May 23

People, fleeing from areas near the front line in Donetsk, board buses in Kurakhove, eastern Ukraine, Monday, May 23, 2022. In the Donbas region, people continue to flee from towns and villages coming under heavy bombardment. (AP Photo/Francisco Seco)

Egypt promises to allow protest, push pledges as COP27 host

Egyptian Foreign Minister Sameh Shoukry, also the incoming president of the next Conference of the Parties to be held in Egypt, says the focus will be on making sure countries implement their climate pledges

May 23

Egyptian Minister of Foreign Affairs Sameh Shoukry poses for media after an interview with the Associated Press at the World Economic Forum in Davos, Switzerland, Monday, May 23, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)

Zelenskyy urges 'maximum' sanctions on Russia in Davos talk

Ukrainian President Volodymyr Zelenskyy is calling for "maximum" sanctions against Russia during a virtual speech at the World Economic Forum gathering in Davos, Switzerland

May 23

Ukrainian President Volodymyr Zelenskyy displayed on a screen as he addresses the audience from Kyiv on a screen during the World Economic Forum in Davos, Switzerland, Monday, May 23, 2022. The annual meeting of the World Economic Forum is taking place in Davos from May 22 until May 26, 2022. (AP Photo/Markus Schreiber)

DC sues Mark Zuckerberg over Cambridge Analytica data breach

The Cambridge Analytica leak allegedly exposed 87 million people's data.

May 23

Facebook founder Mark Zuckerberg speaks at Georgetown University in a 'Conversation on Free Expression' in Washington, D.C., Oct. 17, 2019.

Contractor quitting puts Shell in spotlight over climate

A longtime contractor for Shell has accusing the oil and gas company of "double talk" by saying it wants to cut greenhouse gas emissions while working on tapping new sources of fossil fuel

May 23

FILE - the Shell logo at a petrol station in London, Jan. 20, 2016. A long-time contractor for Shell has publicly called out the oil and gas giant's climate plans, accusing the company of

Lone survivor of 2009 plane crash testifies in Paris court

The lone survivor of a 2009 plane crash in the Indian Ocean took the stand Monday in a Paris courtroom

May 23

FILE - Franco-Comoran Bahia Bakari stands in a courthouse in Paris, France, on May 9, 2022. Bahia Bakari, the lone survivor of a 2009 plane crash in the Indian Ocean, took the stand Monday in a Paris courtroom to recount the deadly accident, and broke down in tears recalling the loss of her mother, among the 152 people killed. Yemen's main airline is charged with manslaughter. (AP Photo/Francois Mori, File)

UK's Boris Johnson awaits judgment of 'partygate' report

British Prime Minister Boris Johnson has been shadowed by career-threatening scandal for months — but so far has escaped unscathed

May 23

A police officer walks past 10 Downing Street in London, Monday, May 23, 2022. The general public waits for the release of Sue Gray's report into COVID lockdown breaches across Whitehall, the so called "Partygate". (AP Photo/Frank Augstein)

For Americans, 2021 delivered healthiest finances in 8 years

Americans' financial health reached its highest level in nearly a decade last year, the Federal Reserve said Monday, spurred by a strong job market and government support payments

May 23

FILE - In this May 4, 2021 file photo is the Federal Reserve in Washington. Americans' financial health reached its highest level in nearly a decade last year, the Federal Reserve said Monday, May 23, 2022 spurred by a strong job market and government support payments. (AP Photo/Patrick Semansky, File)

Re/Max CEO: Home prices can't keep up double-digit gains

Nick Bailey, president and CEO of real estate brokerage Re/Max, talks to The Associated Press about the impact of rising mortgage rates on the slowing U.S. housing market, as borrowing costs strain many would-be buyers' budgets

May 23

Biden launches Indo-Pacific trade deal, warns over inflation

The deal aims to strengthen the economies of 12 Indo-Pacific nations.

May 23

President Joe Biden meets with Japanese Prime Minister Fumio Kishida at Akasaka Palace, Monday, May 23, 2022, in Tokyo. (AP Photo/Evan Vucci)

EU to keep budget rules looser for longer amid war fallout

The European Union is extending looser limits on spending by member countries for an extra year in a bid to counter the economic fallout from Russia's war in Ukraine

May 23

People fleeing from heavy shelling board an evacuation train at Pokrovsk train station, in Pokrovsk, eastern Ukraine, Sunday, May 22, 2022. Civilians fleeing areas near the eastern front in the war in Ukraine Sunday described scenes of devastation as their towns and villages came under sustained attack from Russian forces. (AP Photo/Francisco Seco)

US, others say APEC walkout aimed at Russia over invasion

The United States and four other nations emphasized their support for host nation Thailand after they walked out of an Asia-Pacific Economic Cooperation group meeting in Bangkok

May 23

Russia's Minister for Economic Development Maxim Reshetnikov attends a meeting of trade ministers of the Asia-Pacific Economic Cooperation group in Bangkok, Thailand Saturday, May 21, 2022. Delegates from the United States and four other nations staged a walkout Saturday when the representative from Russia began his opening remarks at the meeting, officials said. (Kyodo News via AP)

EXPLAINER: What's in Biden's proposed new Asia trade pact?

President Joe Biden faced a dilemma on trade in Asia: He couldn't just rejoin the Trans-Pacific Partnership that his predecessor had pulled the U.S. out of in 2017

May 23

After 3 months of war, life in Russia has profoundly changed

When Vladimir Putin announced Russia's invasion of Ukraine, the war seemed far away from Russian territory

May 23

FILE - Few visitors walk inside the GUM department store in Moscow, in Moscow, Russia, Friday, March 4, 2022. Three months after the Feb. 24 invasion, many ordinary Russians are reeling from those blows to their livelihoods and emotions. Moscow's vast shopping malls have turned into eerie expanses of shuttered storefronts once occupied by Western retailers. (AP Photo, File)

Asian shares mixed after Wall St barely misses bear market

Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market on Friday

May 23

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Monday, May 23, 2022. Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market Friday. (AP Photo/Kin Cheung)

This Week: New home sales, Fed minutes, Macy's results

The Commerce Department issues its April tally of new U.S. home sales Tuesday

May 23

Taiwan not included in launch of new Biden Indo-Pacific pact

President Joe Biden is expected to come out with a list of countries that will join an Indo-Pacific trade pact, but Taiwan won't be among them

May 22

U.S. President Joe Biden, right, disembarks from Air Force One on his arrival at Yokota Air Base, Sunday, May 22, 2022, in Fussa, on the outskirt of Tokyo, Japan. (AP Photo/Evan Vucci)

Average US gasoline price jumps 33 cents to $4.71 per gallon

The average price of regular-grade gas spiked to $4.71 per gallon.

May 22

The prices are dispalyed above the various grades of gasoline available at a Conoco station Saturday, May 21, 2022, in Denver. (AP Photo/David Zalubowski)

Climate to conflict, Davos' post-COVID return has full plate

The much-ballyhooed World Economic Forum in the Swiss Alpine town of Davos gets underway this week after a two-year hiatus due to the COVID-19 pandemic

May 22

Ukrainian President Volodymyr Zelenskyy speaks on a screen inside a so-called Russian War Crimes House alongside the World Economy Forum in Davos, Switzerland, Sunday, May 22, 2022. An exhibition with pictures documenting suspected Russian war crimes in the Ukrainian war are to be shown in the house. The annual meeting of the World Economy Forum is taking place in Davos from May. 22 until May. 26, 2020.

Consumers defy inflation to support economy. For how long?

Americans have been increasing their spending even as prices soar.

May 22

Dan Gabel, right, and fellow musicians perform in downtown Boston, Tuesday, May 10, 2022. Gabel has canceled Netflix and other streaming services and tried to cut back on driving as the costs of gas, food, and other items, such as the lubricants he uses for his instruments, has soared. In the photo, from left to right, are Eric Baldwin, banjo; Ed Goroza, sousaphone; Josiah Reibstein, trombone; and Gabel, trumpet. (AP Photo/Steve LeBlanc)

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Source: https://abcnews.go.com/business

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