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National News

More Americans apply for jobless benefits last week

WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low. Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday. ...

Spirit tells shareholders to reject hostile bid from JetBlue

Spirit Airlines is advising shareholders to reject a tender offer for shares from JetBlue three days after it went hostile in its bid to create what would be the nation's fifth largest airline. Spirit repeated Thursday that any attempt to merge with the New York carrier would face substantial ...

Harley-Davidson suspends production for 2 weeks, shares fall

Harley-Davidson announced a two-week suspension of vehicle assembly and most shipments, citing a regulatory compliance issue with one of its suppliers. Shares tumbled almost 8% Thursday. The decision was made Wednesday "out of an abundance of caution" after the company received information ...

Average long-term U.S. mortgage rates edge down to 5.25%

WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. By contrast, the average rate ...

Home sales tumble again as mortgage rates surge

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual rate of 5.61 ...

Lawmakers want Ohio State’s 2010 football season restored

COLUMBUS, Ohio (AP) — The 2010 season of the Ohio State University football team, vacated after a memorabilia-for-cash scandal, should be restored because of recent changes allowing college athletes to be compensated, under a symbolic resolution approved by House lawmakers. The vacating of ...

More buyers opt for adjustable-rate mortgages as rates rise

LOS ANGELES (AP) — Rising interest rates are making adjustable-rate mortgages an increasingly attractive alternative to common 30-year, fixed-rate home loans. ARMs made up 13% of all home loans by dollar volume in March, their highest share since January 2020, according to CoreLogic. The ...

New Twitter policy aims to pierce fog of war misinformation

SAN FRANCISCO (AP) — Twitter is stepping up its fight against misinformation with a new policy cracking down on posts that spread potentially dangerous false stories. The change is part of a broader effort to promote accurate information during times of conflict or crisis. Starting Thursday, ...

Biden forest plan stirs dispute over what counts as “old”

BILLINGS, Mont. (AP) — President Joe Biden's order to protect the nation's oldest forests against climate change, wildfires and other problems devastating vast woodlands is raising a simple yet vexing question: When does a forest grow old? Millions of acres are potentially on the line — ...

Fed nominee Michael Barr calls inflation ‘far too high’

WASHINGTON (AP) — President Joe Biden's pick to be the Federal Reserve's top banking regulator pledged Thursday to help reduce high inflation and provide "clear rules" to govern financial innovation. "I strongly believe that inflation is far too high today and I'm committed to bringing it ...

EXPLAINER: ESG investing and the debate surrounding it

NEW YORK (AP) — Here's the latest sign ESG investing is now mainstream after starting as a niche corner of Wall Street: It's become the target of Republican politicians and billionaire Elon Musk amid the nation's cultural schism. To use an ESG approach is to consider a company's performance ...

Court tosses $300,000 hospital bill for promised $1,300 tab

DENVER (AP) — Colorado's Supreme Court has ruled in favor of a woman who expected to pay about $1,300 for spinal fusion surgery but was billed more than $300,000 by a suburban Denver hospital that included charges it never disclosed she might be liable for. This week's ruling in favor of ...

Kohl’s cuts annual forecast, as it gets stung with inflation

NEW YORK (AP) — Kohl's Corp. cut its annual earnings and sales forecast, as the department store chain joins a string of retailers stung with soaring inflation. The reduction, announced Thursday, came as it reported fiscal first-quarter results that came below analysts' expectations. Sales ...

Beshear: Kentucky posts its lowest-ever unemployment rate

FRANKFORT, Ky. (AP) — Kentucky posted its lowest-ever unemployment rate in April, offering more proof of the state's unprecedented economic momentum, Gov. Andy Beshear said Thursday. The state's seasonally adjusted, preliminary jobless rate fell to 3.9% in April, the Democratic governor ...

WhatsApp adds messaging tools to attract businesses

WhatsApp parent Meta is moving forward with its push to attract businesses to its popular chat app, part its effort to find new ways to make money beyond targeted advertisements on its other platforms, Facebook and Instagram. Meta CEO Mark Zuckerberg on Thursday unveiled a developer tool, ...

GOP directs culture war fury toward green investing trend

SALT LAKE CITY (AP) — Republicans are coming out swinging against Wall Street's growing efforts to consider factors like long-term environmental risk in investment decisions, the latest indication that the GOP is willing to damage its relationship with big business to score culture war ...

Carbon removal technologies to get $3.5B federal investment

NEW YORK (AP) — The federal government is investing in machines that suck giant amounts of carbon dioxide out of the air in the hopes of reducing damage from climate change. The Department of Energy said Thursday it will release $3.5 billion to groups developing direct air capture and other ...

Minnesota sports betting bill advances as budget items stall

ST. PAUL, Minn. (AP) — A proposal to legalize sports betting survived a test Thursday amid lawmakers' efforts to pull together the pieces of a package to spend Minnesota's enormous budget surplus with just days remaining in the legislative session. The bill, authored by Republican Sen. Roger ...

Proposed Nebraska mine has sizeable deposit of rare elements

OMAHA, Neb. (AP) — The mining company that wants to extract a rare heat-resistant element from the ground under southeast Nebraska says a new report shows the deposit it plans to mine holds a significant amount of other rare elements. NioCorp Developments said Thursday that the latest ...

Arizona developer’s lawyer wants to rebut US House charges

PHOENIX (AP) — An attorney for an Arizona real estate developer who was referred to the Department of Justice for a criminal investigation along with a former Trump administration Cabinet member by Democrats on a congressional committee demanded Thursday that he be allowed to publicly rebut ...