Business

HONG KONG (AP) — China's exports and imports both fell in August from a year earlier, reflecting tepid global demand that is adding to pressures on its slowing economy. Customs data released Thursday showed exports for August slumped 8.8% to $284.87 billion in the fourth straight month of decline. Imports slid 7.3% to $216.51 billion.

ATLANTA (AP) — Delta Air Lines says it’s bringing former star quarterback Tom Brady on board as a “long-term strategic adviser." Brady is a seven-time Super Bowl winner for the New England Patriots and Tampa Bay Buccaneers.

BOSTON (AP) — Cars are getting an “F” in data privacy. Most major manufacturers admit they may be selling your personal information, a new study finds, with half also saying they would share it with the government or law enforcement without a court order. The proliferation of sensors in automobiles — from telematics to fully digitized control consoles — has made them prodigious data-collection hubs.

DETROIT (AP) — The U.S. government is taking a big step toward forcing a defiant Tennessee company to recall 52 million air bag inflators that could explode, hurl shrapnel and injure or kill people. The National Highway Traffic Safety Administration on Tuesday said it has made an initial decision that the inflators made by ARC Automotive Inc., and under license by another company, are defective. The agency scheduled a public hearing for Oct. 5, a required step before seeking a court-ordered recall.

DUBAI, United Arab Emirates (AP) — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. The dual announcements from Riyadh and Moscow pushed benchmark Brent crude above $90 a barrel in trading Tuesday afternoon, a price unseen in the market since November.

Since the U.S. Supreme Court cleared the way for legalized sports betting five years ago, nearly three-fourths of the states have moved swiftly to allow it. State funding for problem gambling services has not kept pace, although more states are requiring at least a portion of sports wagering revenues to go toward helping addicted gamblers.

DETROIT (AP) — A 46% pay raise. A 32-hour week with 40 hours of pay. A restoration of traditional pensions. The demands that a more combative United Auto Workers union has pressed on General Motors, Stellantis and Ford — demands that even the UAW's own president calls “audacious” — are edging it closer to a strike when its contract ends Sept. 14.

WASHINGTON (AP) — The nation's employers added 187,000 jobs in August, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. The job growth marked an increase from July's revised gain of 157,000 but still pointed to a moderating pace of hiring compared with earlier this year. From June through August, the economy added 449,000 jobs, the lowest three-month total in three years.

DALLAS (AP) — By some measures, air travelers have enjoyed a less stressful summer than last year, but canceled flights remain elevated as airlines face their last big test of the prime vacation season: Labor Day weekend. The Federal Aviation Administration predicts that this will be the third busiest holiday weekend of the year so far, behind only the Juneteenth weekend, which included Father's Day, and the Presidents Day break.

One of the reporters who works at the small Kansas newspaper that was raided by authorities earlier this month filed a federal lawsuit against the police chief Wednesday. Deb Gruver believes Marion Police Chief Gideon Cody violated her constitutional rights when he abruptly snatched her personal cellphone out of her hands during a search where officers also seized computers from the Marion County Record's office, according to the lawsuit.

WASHINGTON (AP) — The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter.

OMAHA, Neb. (AP) — Norfolk Southern railroad is recovering from a “hardware-related technology outage” that disrupted train traffic across its network in the Eastern United States Monday, but there may be lingering effects for at least a couple of weeks. The railroad said there is no indication that the outage was related to any cybersecurity incident. But spokesman Connor Spielmaker said Tuesday morning that “we're continuing our investigation into the root cause of these issues.”

TOKYO (AP) — All 28 vehicle assembly lines at Toyota’s 14 auto plants in Japan shut down Tuesday over a problem in its computer system that deals with incoming auto parts. The automaker doesn’t believe the problem was caused by a cyberattack but the cause is still under investigation, said spokeswoman Sawako Takeda.

RENO, Nev. (AP) — Santos Brizuela spent more than two decades laboring outdoors, persisting despite a bout of heatstroke while cutting sugarcane in Mexico and chronic laryngitis from repeated exposure to the hot sun while on various other jobs. But last summer, while on a construction crew in Las Vegas, he reached his breaking point. Exposure to the sun made his head ache immediately. He lost much of his appetite.

JACKSON HOLE, Wyoming (AP) — Rising trade barriers. Aging populations. A broad transition from carbon-spewing fossil fuels to renewable energy. The prevalence of such trends across the world could intensify global inflation pressures in the coming years and make it harder for the Federal Reserve and other central banks to meet their inflation targets.

IWAKI, Japan (AP) — Fish auction prices at a port south of the Fukushima Daiichi nuclear power plant fell Friday amid uncertainty over how seafood consumers will respond to the release of treated and diluted radioactive wastewater into the ocean.

JACKSON HOLE, Wyoming (AP) — The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly — trends that could keep inflation pressures high. He also reiterated the Fed's determination to keep its benchmark rate elevated until price increases are reduced to the central bank's 2% target.

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed further above 7% this week to its highest level since 2001, another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan climbed to 7.23% from 7.09% last week. A year ago, the rate averaged 5.55%.

OMAHA, Neb. (AP) — The nation's largest railroad union wants federal regulators to do more to ensure conductors are properly trained in the wake of two recent trainee deaths. The Transportation Division of the International Association of Sheet Metal, Air, Rail and Transportation Workers union that represents conductors wants the Federal Railroad Administration to establish clear standards for how long new employees are trained and who mentors them to teach them the craft after they finish their formal training.

The union representing 340,000 UPS workers said Tuesday that its members voted to approve the tentative contract agreement reached last month, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide.

DETROIT (AP) — Just five years ago, a price-conscious auto shopper in the United States could choose from among a dozen new small cars selling for under $20,000. Now, there’s just one: The Mitsubishi Mirage. And even the Mirage appears headed for the scrap yard.

The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, pushing up borrowing costs for homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan rose to 7.09% from 6.96% last week. A year ago, the rate averaged 5.13%.

Discount grocer Aldi said Wednesday it plans to buy 400 Winn-Dixie and Harveys supermarkets in the southern U.S. Under a proposed merger agreement, Aldi will acquire all outstanding shares of Jacksonville, Florida-based Southeastern Grocers Inc., the parent company of Winn-Dixie and Harveys. If the deal is approved by regulators, it's expected to close in the first half of 2024.

NEW YORK (AP) — Target reported its first quarterly sales drop in six years, dragged down by shoppers' inflation worries and a negative reaction by some customers, widely publicized on social media, to its Pride merchandise. The Minneapolis retailer expects high interest rates, which makes credit cards more expensive to use, and higher prices on food to continue to put a strain on customers and on Wednesday, the chain cut its profit outlook for the year.

NEW YORK (AP) — Americans increased their purchases at retailers last month – for clothing, dining out, online goods and other areas – in a sign that solid consumer spending is still powering a resilient U.S. economy. Retail sales rose a better-than-expected 0.7% in July from June, according to the Commerce Department's report Tuesday. The gain followed a revised 0.3% gain the previous month, the government said.

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