MONEY NEWS FROM THE ASSOCIATED PRESS

Money

An employee walks near empty shelves where baby formula would normally be located at a CVS in New O...

House Dems propose $28 million to address formula shortage

WASHINGTON (AP) — House Democrats unveiled a $28 million emergency spending bill Tuesday to address the shortage of infant formula in the United States. Rep. Rosa DeLauro, the Democratic chair of the House Appropriations Committee, said the bill would help the Food and Drug Administration take important steps to restore the formula supply in a […]
12 hours ago

US to ease a few economic sanctions against Venezuela

CARACAS, Venezuela (AP) — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the U.S.-backed opposition and the government of President Nicolás Maduro. The limited changes will allow Chevron Corp. to negotiate its license with the state-owned oil company, PDVSA, but […]
13 hours ago

Ohio principals reject endorsement deals for prep athletes

CLEVELAND (AP) — High school principals in Ohio have overwhelmingly rejected a proposal to allow prep athletes to sign deals cashing in on their name, image and likeness, the Ohio High School Athletic Association said Tuesday. In voting that began May 1 and finished Monday, principals from OHSAA member schools voted 538-254 to not allow […]
13 hours ago
FILE - The scene of a fatality car crash, June 2, 2021, in Tulsa, Okla.  Nearly 43,000 people were ...

Nearly 43,000 people died on US roads last year, agency says

DETROIT (AP) — Nearly 43,000 people were killed on U.S. roads last year, the highest number in 16 years as Americans returned to the highways after the pandemic forced many to stay at home. The 10.5% jump over 2020 numbers was the largest percentage increase since the National Highway Traffic Safety Administration began its fatality […]
13 hours ago

Prosecutors: NYC investment adviser blamed in $5B fraud

NEW YORK (AP) — Bus drivers, subway conductors and religious and charitable organizations nationwide were among victims when fraud and the COVID-induced market collapse speeded the downfall of private investment funds once worth $11 billion, causing a loss of $5 billion for investors in an investment company giant, authorities said Tuesday. Additional details were expected […]
13 hours ago
FILE - A nurse holds a vial of the Pfizer COVID-19 vaccine for children ages 5 to 11, right, and a ...

FDA clears COVID booster shot for healthy kids ages 5 to 11

U.S. regulators on Tuesday authorized a COVID-19 booster shot for healthy 5- to 11-year-olds, hoping an extra vaccine dose will enhance their protection as infections once again creep upward. Everyone 12 and older already was supposed to get one booster dose for the best protection against the newest coronavirus variants — and some people, including […]
14 hours ago
In this image taken from Zoom video, Mykhailo Fedorov, vice prime minister of Ukraine and minister ...

Ukraine’s crowdfunding aims to keep donors’ interest in war

The Ukrainian government is marrying some digital marketing tools with crowdfunding and other incentives for giving to keep global attention trained on its war efforts against the Russian invasion. “There is a wave and there is this kind of euphoria, but then it abates,” Mykhailo Fedorov, vice prime minister of Ukraine and minister of digital […]
14 hours ago
FILE - A shopper pushes a child in a cart while browsing big-screen televisions on display in the e...

Retail sales rise 0.9% in April as consumers show resilience

WASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. The increase was driven by greater sales of cars, electronics, and at restaurants, the Commerce Department said Tuesday. Even adjusting for inflation, which was […]
16 hours ago
Britain's Prime Minister Boris Johnson with a Mark 3 shoulder launch LML (Lightweight Multiple Laun...

UK raises stakes in EU feud with threat to break Brexit deal

LONDON (AP) — The British government dramatically escalated a fight with the European Union on Tuesday by saying it will pass a law to scrap parts of the trade treaty signed by the two sides less than two years ago. Britain says its move to singlehandedly change the legally binding treaty — an apparent breach […]
16 hours ago
FILE - People take part in a protest against abortion and euthanasia in Madrid, Spain, Sunday, Nov....

Spanish govt proposes wider abortion rights, menstrual leave

MADRID (AP) — The Spanish government approved a draft bill Tuesday that widens abortion rights for teenagers and may make Spain the first country in Europe entitling workers to paid menstrual leave. The measures are part of a package of proposals that will be sent to the Spanish parliament for debate. The package includes an […]
16 hours ago
FILE - A Walmart employee helps a customer outside the Walmart store in Philadelphia, Wednesday, No...

Walmart Q1 profit dragged down as inflation takes a bite

NEW YORK (AP) — Walmart reported stronger sales for its fiscal first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain. The company also on Tuesday cut its full-year earnings forecast, sending shares down more […]
17 hours ago
FILE - In this April 14, 2016, file photo, a son, at right, holds his mother's hand as they talk at...

Millennial Money: Learn your parents’ financial plans ASAP

My mom died at age 61, when I was 31. Seeing her headstone in a field of others smacked me with a brutal, if obvious fact: Everyone, including everyone’s parents, will die. I promise I’m not trying to depress you. I want to prepare you, as this loss can happen sooner than you’d expect. And […]
17 hours ago
FILE - A Home Depot logo sign hands on its facade, Friday, May 14, 2021, in North Miami, Fla. Home ...

Home Depot overcomes slow start to year, rising home prices

Home Depot’s first-quarter sales improved despite a slow spring start and the home improvement chain raised its full-year guidance. Revenue increased about 4% to $38.91 billion, easily beating Wall Street expectations, according to a survey of analysts by Zacks Investment Research. Sales at stores open at least a year, a key indicator of a retailer’s […]
18 hours ago
U.S Treasury Secretary Janet Yellen, right, talks to Holocaust survivor, Marian Turski, while atten...

Yellen warns Europeans about working with China, urges unity

BRUSSELS (AP) — Even as Western allies grapple with how to counter Russia’s assault on Ukraine, U.S. Treasury Secretary Janet Yellen warned Tuesday that they also must take a wary and united approach to checking China and its business practices. “We have a common interest in incentivizing China to refrain from economic practices that have […]
18 hours ago
FILE - A rickshaw puller carries tourists near Sensoji Buddhist temple at Tokyo's Asakusa district ...

Japan to allow limited foreign package tours as experiment

TOKYO (AP) — Japan’s government announced Tuesday it will begin allowing small package tours from four countries later this month before gradually opening up to foreign tourism for the first time since it imposed tight border restrictions due to the coronavirus pandemic. Transport Minister Tetsuo Saito said the tours will be allowed from Australia, Singapore, […]
18 hours ago
People queue up to buy kerosene oil for cooking amid cooking gas shortages in Colombo, Sri Lanka, T...

Censure vote vs. Sri Lankan leader fails as crisis simmers

COLOMBO, Sri Lanka (AP) — Sri Lanka’s governing party on Tuesday defeated a move in Parliament to urgently debate a motion that would censure President Gotabaya Rajapaksa for the nation’s worst economic crisis, which the prime minister said has left only enough gasoline for one day. It was unclear when the motion will be taken […]
19 hours ago
FILE - Part of the Twitter page of Elon Musk is seen on the screen of a computer in Sausalito, Cali...

Musk: Doubt about spam accounts could scuttle Twitter deal

LONDON (AP) — Tesla CEO Elon Musk says his deal to buy Twitter can’t move forward unless the company shows public proof that less than 5% of the accounts on the social media platform are fake or spam. Musk made the comment in a reply to another user on Twitter early Tuesday. He spent much […]
20 hours ago
FBI Investigators enter the Tops supermarket in Buffalo, N.Y. on Monday, May 16 2022. (AP Photo/Rob...

Livestreamed carnage: Tech’s hard lessons from mass killings

These days, mass shooters like the one now held in the Buffalo, New York, supermarket attack don’t stop with planning out their brutal attacks. They also create marketing plans while arranging to livestream their massacres on social platforms in hopes of fomenting more violence. Sites like Twitter, Facebook and now the game-streaming platform Twitch have […]
20 hours ago
Beer cans with writing OTAN inspired by the North Atlantic Treaty Organization (NATO) logo by Olaf ...

Live updates | War crimes investigators going to Ukraine

BRUSSELS — The International Criminal Court prosecutor says he’s sent a team of 42 investigators, forensic experts and support personnel to Ukraine as part of a probe into suspected war crimes during Russia’s invasion. ICC Prosecutor Karim Khan said Tuesday that the team “will significantly enhance the impact of our forensic and investigative actions on […]
20 hours ago
Construction workers wearing masks leave for lunch from a worksite on Tuesday, May 17, 2022, in Bei...

Students protest, discontent grows over China’s COVID policy

BEIJING (AP) — Administrators at an elite Beijing university have backed down from plans to further tighten pandemic restrictions on students as part of China’s “zero-COVID” strategy after a weekend protest at the school, according to students Tuesday. Graduate students at Peking University staged the rare, but peaceful protest Sunday over the school’s decision to […]
21 hours ago
FILE - A U.S. flag waves outside the New York Stock Exchange, Monday, Jan. 24, 2022, in New York.  ...

Stocks rise on Wall Street; report shows strong retail sales

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday as investors review an encouraging report on retail sales and a mixed batch of earnings updates from several big retailers. The S&P 500 rose 1.2% as of 10:27 a.m. Eastern. The Dow Jones Industrial Average rose 237 points, or 0.7%, to 32,460 […]
22 hours ago
A man walks through the lobby of Thomasville Regional Medical Center in Thomasville, Ala., on Tuesd...

New US hospitals face fiscal crisis over COVID relief money

THOMASVILLE, Ala. (AP) — A whole town celebrated in 2020 when, early in the coronavirus pandemic, Thomasville Regional Medical Center opened, offering state-of-the-art medicine that was previously unavailable in a poor, isolated part of Alabama. The timing for the ribbon-cutting seemed perfect: New treatment options would be available in an underserved area just as a […]
23 hours ago
FILE - A chicken looks in the barn at Honey Brook Farm in Schuylkill Haven, Pa., on April 18, 2022....

Conspiracy theorists flock to bird flu, spreading falsehoods

Brad Moline, a fourth-generation Iowa turkey farmer, saw this happen before. In 2015, a virulent avian flu outbreak nearly wiped out his flock. Barns once filled with chattering birds were suddenly silent. Employees were anguished by having to kill sickened animals. The family business, started in 1924, was at serious risk. His business recovered, but […]
1 day ago
Oleksiy Polyakov, right, and Roman Voitko check the remains of a destroyed Russian helicopter lie i...

Fall of Mariupol appears at hand; fighters leave steel plant

KYIV, Ukraine (AP) — Mariupol appeared on the verge of falling to the Russians on Tuesday as Ukraine moved to abandon the steel plant where hundreds of its fighters had held out for months under relentless bombardment in the last bastion of resistance in the devastated city. The capture of Mariupol would make it the […]
1 day ago