National Business - The Morning Sun

FILE - Southwest Airlines jets are stored at Sky Harbor International Airport in Phoenix, Tuesday, April 28, 2020. Southwest Airlines said Thursday, July 28, 2022, that second-quarter profit doubled to $760 million on record revenue, but it warned that rising costs and lower productivity are likely to continue in the second half of the year. (AP Photo/Matt York, File)

Southwest posts record revenue but warns of rising costs

Southwest Airlines is reporting higher profit and record revenue, but its shares are down because of concern over rising costs. Southwest said Thursday that second-quarter profit more than doubled to … more

7/28/22

Gov't: US Bank workers opened fake accounts for sales goals

For more than a decade, US Bank pressured its employees to open fake accounts in their customers’ names in order to meet unrealistic sales goals, the Consumer Financial Protection Bureau said … more

By KEN SWEET | 7/28/22

A Cheng Kung class frigate fires an anti air missile as part of a navy demonstration in Taiwan's annual Han Kuang exercises off the island's eastern coast near the city of Yilan, Taiwan on Tuesday, July 26, 2022. The Taiwanese capital Taipei staged a civil defense drill Monday and President Tsai Ing-wen on Tuesday attended the annual Han Kuang military exercises, although there was no direct connection with tensions over a possible visit by U.S. House Speaker Nancy Pelosi.(AP Photo/Huizhong Wu)

A richer, stronger China warns Pelosi not to visit Taiwan

In 1997, Beijing grumbled but swallowed its irritation when then-Speaker Newt Gingrich of the U.S. House of Representatives visited Taiwan. The island democracy is claimed by the mainland’s ruling … more

By JOE McDONALD | 7/28/22

Customers walk to a Trader Joe's market, Aug. 13, 2019, in Cambridge, Mass. Employees at a Trader Joe’s at the Hadley store in Massachusetts are casting votes over the next two days in an attempt to form the supermarket chain’s first union. A union organizer says about 80 workers are scheduled to vote Wednesday, July 27, 2022, and Thursday. If successful, it would be an independent union, and not affiliated with a larger existing union. Trader Joe's in a statement welcomes the vote, but said its compensation and benefits are already among the industry's best. (AP Photo/Charles Krupa, File)

Union vote to wrap up at Trader Joe's store in Massachusetts

Labor organizers at a Trader Joe’s store in Massachusetts will find out Thursday if there is enough support among employees to form the chain’s first union. A union organizer says about 80 … more

7/28/22

Hiring sign is displayed at a restaurant in Highland Park, Ill., Thursday, July 14, 2022. The number of Americans applying for unemployment benefits last week rose to its highest level in more than eight months, a sign the labor market may be showing some weakness. Applications for jobless aid for the week ending July 16 rose by 7,000 to 251,000, up from the previous week’s 244,000, the Labor Department reported Thursday, July 21. (AP Photo/Nam Y. Huh)

Fewer Americans applied for jobless benefits last week

Fewer Americans applied for jobless benefits last week, but the previous week’s number was revised upward significantly, with claims breaching the 250,000 level in back-to-back weeks for the first … more

By MATT OTT | 7/28/22

FILE - Packaging for an electronic cigarette and menthol pods from Juul Labs is displayed on Feb. 25, 2020, in Pembroke Pines, Fla. The Food and Drug Administration and Juul have agreed to suspend court proceedings while the agency conducts additional review of the company's vaping devices. The agreement Wednesday, July 6, 2022, comes one day after the FDA placed a hold on its initial order banning Juul’s products. (AP Photo/Brynn Anderson, File)

Altria's $13B Juul investment has lost 95% of its value

Altria reports its nearly $13 billion investment in troubled vaping company Juul is worth 95% less than it originally paid. The tobacco giant on Thursday said its stake in the e-cigarette maker is … more

By MATTHEW PERRONE | 7/28/22

FILE - In this May 8, 2019, file photo, Federal Trade Commission commissioner Rohit Chopra testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill in Washington. In an interview with The Associated Press, Monday, July 25, 2022, Chopra signaled that the Consumer Financial Protection Bureau plans to deploy an array of tools that could limit the ability of a bank or financial firm to conduct business if they violate the law. (AP Photo/Susan Walsh, File)

Watchdog head: Bad actors should face more than big fines

The head of the nation’s financial watchdog is having second thoughts about using fines to deter illegal behavior in the financial industry, saying some companies have gotten so big that the money … more

By KEN SWEET | 7/28/22

CORRECTION TO SECOND QUARTER IN SECOND SENTENCE-- FILE - Consumers fill up at a Shell gas station July 13, 2022, in Miami Beach, Fla. Energy giant Shell has posted record profits for a second straight quarter as the company continues to benefit from the soaring price of oil and gas fueled by Russia’s war in Ukraine. London-based Shell said it’s second quarter adjusted earnings rose to $11.5 billion from $5.5 billion in the same three month period last year. (AP Photo/Marta Lavandier, File)

Shell posts record earnings again as energy prices soar

Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine. London-based Shell … more

7/28/22

FILE - The Stellantis sign is seen outside the Chrysler Technology Center, in Auburn Hills, Mich. Automaker Stellantis on Thursday, July 28, 2022, reported higher earnings in the first half of 2022 compared with last year, pointing to a nearly 50% increase in global sales of battery electric vehicles. Stellantis, which was formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot, said net revenue reached 88 billion euros ($89.86 billion), a 17% increase from the first half of last year. Net profit hit 8 billion euros, up 34%. (AP Photo/Carlos Osorio, File)

Stellantis earnings rise as electric vehicle sales expand

Automaker Stellantis has reported higher earnings in the first half of 2022 compared with last year, pointing to a nearly 50% increase in global sales of battery electric vehicles. The world’s … more

7/28/22

FILE- Some 25 tractors were used to blockade a distribution center for supermarket chain Albert Heijn in the town of Zaandam, just north of Amsterdam, Monday, July 4, 2022. Dutch farmers angry at government plans to slash emissions used tractors and trucks Monday to blockade supermarket distribution centers, the latest actions in a summer of discontent in the country's lucrative agricultural sector. (AP Photo/Peter Dejong, File)

Cars hit tires dumped on Dutch highway amid farmer protests

Police say cars crashed into tires and other garbage piled on a highway in the northern Netherlands by radical farmers protesting against government plans to rein in nitrogen emissions. Prime … more

7/28/22

FILE - Samsung Galaxy S20 phones are displayed at the Unpacked 2020 event in San Francisco, Feb. 11, 2020. An Australian judge on Thursday, July 28, 2022, ordered Samsung to pay a 14 million Australian dollar ($9.8 million) in penalties for misleading advertising over how water-resistant some models of smartphones are. (AP Photo/Jeff Chiu, File)

Samsung fined $9.8M for misleading Australian phone ads

An Australian judge has ordered Samsung to pay $9.8 million in penalties for misleading advertising over how water-resistant some models of smartphones are. Justice Brendan Murphy on Thursday gave … more

By ROD McGUIRK | 7/28/22

Shinsuke Suematsu, the Japanese Minister of Education, Culture, Sports, Science and Technology, speaks to reporters at the prime minister's office in Tokyo, Thursday, July 28, 2022. Japan’s push to register a controversial former gold mine on Sado Island for a UNESCO World Heritage list is now being delayed because of insufficiency in the application, officials said. (Kyodo News via AP)

Japan's push for UNESCO to list divisive gold mine delayed

Japan’s push to obtain UNESCO World Heritage recognition for a former gold mine key to the nation’s industrialization will be delayed. The Sado Island mine in northern Japan operated for nearly … more

By MARI YAMAGUCHI | 7/28/22

A flare burns off methane and other hydrocarbons as oil pumpjacks operate in the Permian Basin in Midland, Texas, Tuesday, Oct. 12, 2021. Massive amounts of methane are venting into the atmosphere from oil and gas operations across the Permian Basin, new aerial surveys show. The emission endanger U.S. targets for curbing climate change. (AP Photo/David Goldman)

Hidden Menace: Massive methane leaks speed up climate change

New aerial surveys show that massive amounts of methane are venting into the atmosphere from oil and gas operations across the Permian Basin. The emissions endanger U.S. targets for curbing climate … more

By MICHAEL BIESECKER and HELEN WIEFFERING | 7/28/22

Dave Muffley poses outside one of the Delphi Corporation plants in Kokomo, Ind., Monday, July 11, 2022. As General Motors Corp. underwent the biggest industrial bankruptcy proceedings in history, and the federal government negotiated a company restructuring, Muffley's healthy retirement savings would be slashed by 70 percent, and his life's trajectory would take a dramatic spiral downward. (AP Photo/Michael Conroy)

Rejected by courts, retirees take last shot to save pensions

When General Motors went through the biggest industrial bankruptcy proceedings in history, 20,000 retirees from GM's Delphi Corp. subsidiary saw their retirement savings slashed. They fought … more

By FATIMA HUSSEIN | 7/28/22

Senate Majority Leader Chuck Schumer, D-N.Y., speaks to reporters at the Capitol in Washington, Tuesday, July 26, 2022. Sen. Joe Manchin announced Wednesday, July 27, that he had reached an expansive agreement with Schumer which had eluded them for months on health care costs, energy and climate issues, taxing higher earners and large corporations and reducing federal debt. (AP Photo/J. Scott Applewhite, File)

What's in, and out, of Democrats' inflation-fighting package

President Joe Biden’s initial effort to rebuild America’s public infrastructure and family support systems had a price tag of $4 trillion. And it stalled in Congress. A much slimmer but still … more

By LISA MASCARO | 7/27/22

In this photo provided by the North Korean government, North Korean leader Kim Jong Un delivers his speech during a ceremony to mark the 69th anniversary of the signing of the ceasefire armistice that ends the fighting in the Korean War, in Pyongyang, North Korea Wednesday, July 27, 2022. Independent journalists were not given access to cover the event depicted in this image distributed by the North Korean government. The content of this image is as provided and cannot be independently verified. Korean language watermark on image as provided by source reads: "KCNA" which is the abbreviation for Korean Central News Agency. (Korean Central News Agency/Korea News Service via AP)

Kim threatens to use nukes amid tensions with US, S. Korea

North Korean leader Kim Jong Un has warned he’s ready to use his nuclear weapons in potential military conflicts with the United States and South Korea. State media reported Kim made such a warning … more

By HYUNG-JIN KIM | 7/27/22

This undated photo provided by the United States District Court District of Hawaii shows Walter Glenn Primose, also known as Bobby Edward Fort. Primose, a U.S. defense contractor, and his wife who federal authorities say lived for decades under the identities of two dead Texas children have been charged with identity theft and conspiring against the government. Primrose and Gwynn Darle Morrison were arrested, Friday, July 22, 2022, in Kapolei on the island of Oahu. (United States District Court District of Hawaii via AP)

Hawaii couple charged with stealing IDs of dead Texas kids

A U.S. defense contractor and his wife who federal authorities say lived for decades under the identities of two dead Texas children have been charged with identity theft and conspiring against the … more

By JENNIFER SINCO KELLEHER and BRIAN MELLEY | 7/27/22

FILE - A woman walks with a boy to the Best Buy store at the Mall of New Hampshire, Tuesday, Aug. 4, 2020, in Manchester, N.H. Best Buy, the nation's largest consumer electronics chain, cut its annual sales and profit forecast Wednesday, July 27, 2022, citing surging inflation that has dampened consumer spending on gadgets. The Minneapolis-based company echoed Walmart, which earlier this week said higher prices on basic necessities are forcing shoppers to cut back on discretionary items. (AP Photo/Charles Krupa, File)

Best Buy cuts sales forecast as inflation tempers spending

Best Buy has cut its annual sales and profit forecast, citing surging inflation that has dampened consumer spending on gadgets. The Minneapolis-based company echoed Walmart, which earlier this week … more

By ANNE D'INNOCENZIO | 7/27/22

Ford 2Q profit up 19% on strong prices, sales increase

Ford Motor Co.’s net income rose 19% in the second quarter as the company pulled together enough computer chips to boost factory output and sales. The Dearborn, Michigan, automaker said it made … more

By TOM KRISHER | 7/27/22

Airbus reports lower Q2 profit, trims 2020 production target

Airbus said net income plunged in the second quarter and warned that supply chain challenges were leading it scale back production targets for its commercial aircraft. Airbus said it now expects to … more

By The Associated Press | 7/27/22