Business

DETROIT (AP) — Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.

SEOUL, South Korea (AP) — Leading artificial intelligence companies made a fresh pledge at a mini-summit Tuesday to develop AI safely, while world leaders agreed to build a network of publicly backed safety institutes to advance research and testing of the technology.

WASHINGTON (AP) — Cyberattacks against water utilities across the country are becoming more frequent and more severe, the Environmental Protection Agency warned Monday as it issued an enforcement alert urging water systems to take immediate actions to protect the nation's drinking water.

WASHINGTON (AP) — BMW, Jaguar Land Rover and Volkswagen have bought parts made by a Chinese company sanctioned under a 2021 law for using forced labor, a Senate inquiry found, prompting lawmakers to call for stricter enforcement.

Red Lobster, the casual dining chain that brought seafood to the masses with inventions like popcorn shrimp and “endless” seafood deals, has filed for Chapter 11 bankruptcy protection.

BALTIMORE (AP) — The container ship that caused the deadly collapse of Baltimore’s Francis Scott Key Bridge was refloated at high tide Monday and began slowly moving back to port, guided by several tugboats.

DENPASAR, Indonesia (AP) — Elon Musk traveled to Indonesia’s resort island of Bali on Sunday to launch Starlink satellite internet service in the world’s largest archipelago nation.

WASHINGTON (AP) — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings.

BENTONVILLE, Ark. (AP) — Walmart on Tuesday announced layoffs affecting several hundred jobs at the retail giant’s campus offices.

Home Depot's sales continued to soften in the first quarter as the nation's largest home improvement retailer was not only constrained by high mortgage rates and higher inflation for its customers, but it also had to deal with a delayed start to spring.

LIVONIA, Mich. (AP) — A tiny, low-priced electric car called the Seagull has American automakers and politicians trembling. The car, launched last year by Chinese automaker BYD, sells for around $12,000 in China, but drives well and is put together with craftsmanship that rivals U.S.-made electric vehicles that cost three times as much. A shorter-range version costs under $10,000.

LOS ANGELES (AP) — Homeowners have been spending more on home renovations in recent years, as high interest rates and stubbornly high inflation drove up costs for everything from flooring to refrigerators.

Norfolk Southern’s CEO will be under more pressure to improve profits after the railroad’s shareholders voted Thursday to elect three of the board members an activist investor nominated, but he won’t be fired right away.

Boeing has locked out its private force of firefighters who protect its aircraft-manufacturing plants in the Seattle area and brought in replacements after the latest round of negotiations with the firefighters' union failed to deliver an agreement on wages.

WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow …

SAN FRANCISCO (AP) — Comcast has blacked out 15 regional sports networks offered by Bally Sports, escalating a contract dispute with their distributor. The cutoff affects games played by a dozen Major League Baseball teams based in nine states, including the Atlanta Braves.

WASHINGTON (AP) — The Federal Reserve on Wednesday emphasized that inflation has remained stubbornly high in recent months and said it doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target.

WASHINGTON (AP) — The Environmental Protection Agency said Tuesday it has finalized a ban on consumer uses of methylene chloride, a chemical that is widely used as a paint stripper but is known to cause liver cancer and other health problems.

The activist investors trying to take control of Norfolk Southern's board are picking up key support, but the railroad's CEO promised Monday to fight the takeover attempt until a May 9 shareholder vote because he believes his strategy is the best in the long run for investors, customers and workers.

KATHMANDU, Nepal (AP) — Nepal hosted an investment summit Sunday in hopes of attracting much-needed foreign investment, especially in developing hydropower projects to produce more electricity that it can sell to neighboring countries.

Dubai International Airport, the world's busiest for international travel, will move its operations to the city-state's second, sprawling airfield in its southern desert reaches “within the next 10 years” in a project worth nearly $35 billion, its ruler said Sunday.

The United Auto Workers union announced it reached a last-minute tentative agreement with truck and bus manufacturer Daimler Truck, averting a potential strike of more than 7,000 workers.

NEW YORK (AP) — The Federal Trade Commission is sending more than $5.6 million in refunds to consumers as part of a settlement with Amazon-owned Ring, which was charged with failing to protect private video footage from outside access.

WASHINGTON (AP) — The nation’s economy slowed last quarter, growing at an annual rate of 1.6% in a sign that high interest rates may be taking a toll on borrowing and spending.

Norfolk Southern’s first-quarter earnings report Wednesday gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him. Since the railroad already preannounced its disappointing results earlier this month when it disclosed a $600 million settlement over the disastrous February 2023 Ohio derailment there were few surprises in Wednesday’s numbers.

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