Cryptocurrencies plunge as Binance scraps deal for rival FTX

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  U.S. economy
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Little sign of relief expected in October US inflation data

By PAUL WISEMANtoday

WASHINGTON (AP) — The nation’s punishing inflation rate likely kept simmering in October, giving the Federal Reserve little cause to ease up in its drive to slow price increases by steadily raising interest rates.

Musk seeks to reassure advertisers on Twitter after chaos

By MATT O’BRIEN, MAE ANDERSON and BARBARA ORTUTAYtoday

Elon Musk sought to reassure big companies that advertise on Twitter on Wednesday that his chaotic takeover of the social media platform won’t harm their brands, acknowledging that some “dumb things” might happen on his way to creating what he says will be a better, safer user experience.

Cryptocurrencies plunge as Binance scraps deal for rival FTX

By KEN SWEETtoday

NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.Bitcoin sank to a two-year low after Binance confirmed earlier rumors and news reports that it was ready to back out of the FTX deal, struck between the CEOs of the two exchanges on Tuesday.

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FINANCIAL MARKETS

Asian stocks follow Wall St down before US inflation update

• Asian stocks follow Wall St down before US inflation update
• How major US stock indexes fared Wednesday 11/9/2022
• Walt Disney, Redfin fall; Sprouts, Array rise
• Closing prices for crude oil, gold and other commodities

BUSINESS HIGHLIGHTS

Business Highlights: Facebook cuts jobs; Crypto slumpsBusiness Highlights: Twitter’s struggle; Crytpo takeoverBusiness Highlights: Musk impersonators, iPhone delayBusiness Highlights: Twitter layoffs, interest rate hikes

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Ideas from the 2022 Builders and Innovators

Congratulations to the 2022 Goldman Sachs Builders and Innovators. Meet the entrepreneurs moving their industries forward.

OFF THE CHARTS

On Wall Street, extreme punishments for weak profit reports

• Energy stocks get oil price support as recession looms
• Post-election rally unlikely amid Fed rate outlook
• Had enough? S&P plunge could deepen if recession takes hold
• Homeowners see slower equity gains as housing market cools

German business leaders warn against pulling out of China

20 minutes ago

BERLIN (AP) — A group of top German business executives is warning against withdrawing from China, while acknowledging that it’s right for Germany to redefine its relationship with Beijing.

Elon Musk sells $3.95 billion worth of Tesla stock

By BARBARA ORTUTAYyesterday

Twitter’s new owner and Tesla CEO Elon Musk sold nearly $4 billion worth of Tesla shares, according to regulatory filings.

ECONOMY

Unfazed by scandals, Malaysia’s old party seeks win in polls

• Virus lockdowns hit China economic powerhouse Guangzhou
• Potential railroad strike delayed until early December
• Inflation strikes disrupt trains, flights in Greece, Belgium
• Redfin to cut another 13% of workforce, shutter RedfinNow

SMALL BUSINESS

Small businesses brace for cautious holiday shoppers

• Mississippi residents accused of defrauding federal program
• Small business group files suit over Biden student loan plan
• Small business loan deadline approaching in Tennessee
• ‘Big impact’: UK economic chaos, pound plunge hit businesses

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Dutch, UK fentanyl sellers hit with Treasury sanctions

By FATIMA HUSSEINyesterday

WASHINGTON (AP) — Two Dutch nationals, an Englishman and their nine companies were targeted for sanctions by the U.S. government this week, for operating an illegal fentanyl ring that generated millions of dollars in virtual currency.

Breaking News

Nicole, rare November hurricane, makes landfall in Florida

By FREIDA FRISARO and DÁNICA COTO2 minutes ago

MIAMI (AP) — Hurricane Nicole made landfall early Thursday along the east coast of Florida. The storm was already battering a large area of the storm-weary state with strong winds, dangerous storm surge and heavy rain, officials said.

Kenya to spend $37 million on sending forces to Congo

By EVELYNE MUSAMBI7 minutes ago

NAIROBI, Kenya (AP) — Kenya’s parliament has approved the deployment of nearly 1,000 troops for a new regional force in eastern Congo amid questions about the $37 million cost for the first six months of the mission.

The Latest | UN Climate Summit

By The Associated Press13 minutes ago

SHARM EL-SHEIKH, Egypt (AP) — The Latest on the United Nations climate summit in Sharm el-Sheikh in Egypt.Seven Asian countries have saved approximately $34 billion this year by using solar energy instead of fossil fuels, a report by three Asia-based climate think tanks said Thursday.

Czech power company CEZ expects record dividends

28 minutes ago

PRAGUE (AP) — The Czech power utility CEZ said on Thursday its net profit in the third quarter reached 18.7 billion Czech crowns ($771 million), with the company again raising again its outlook for earnings for 2022.

US plan to tap businesses for green finance meets resistance

By KELVIN CHAN and SETH BORENSTEIN36 minutes ago

SHARM EL-SHEIKH, Egypt (AP) — When it comes to helping poor nations cope with climate change, the United States government left its wallet at home. So it hopes its friend, big business, can help pick up the tab.

Qatar unveils 6,000 cabin World Cup fan village near airport

By LUJAIN JO37 minutes ago

DOHA, Qatar (AP) — Qatar on Wednesday unveiled a 6,000-cabin fan village in an isolated lot near its airports, an offering for housing toward the lower end of what’s available for the upcoming World Cup just days away from starting.

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Ukraine boosts Southeast Asia ties with peace accord

By DAVID RISING and SOPHENG CHEANG42 minutes ago

PHNOM PENH, Cambodia (AP) — Ukraine signed a peace accord Thursday with Southeast Asian nations, a largely symbolic act that comes as Kyiv seeks to shore up international support in isolating Russia.

What’s ‘Putin’s chef’ cooking up with talk on US meddling?

By The Associated Press55 minutes ago

Yevgeny Prigozhin has had many roles: Convicted felon and hot dog vendor. Owner of a swanky St. Petersburg restaurant and holder of lucrative government catering contracts. Founder of a mercenary military force involved in Russia’s various conflicts.

Abortions exposed among Australian health insurer customers

By ROD McGUIRKan hour ago

CANBERRA, Australia (AP) — Extortionists dumped stolen client records relating to pregnancy terminations on the dark web on Thursday in their latest effort to pressure Australia’s largest health insurer to pay a ransom.

AP PHOTOS: ‘Plastic Man’ in Senegal on mission against trash

By LEO CORREAan hour ago

S Korea leader criticized for banning broadcaster from plane

By KIM TONG-HYUNGan hour ago

SEOUL, South Korea (AP) — Journalist organizations say South Korean President Yoon Suk Yeol attacked press freedoms when his office banned one TV broadcaster’s crew from the press pool traveling on his presidential plane this week for allegedly biased reporting.

EXPLAINER: Qatar’s history, politics ahead of FIFA World Cup

By JON GAMBRELL2 hours ago

DUBAI, United Arab Emirates (AP) — Qatar will be on the world stage like it has never been before as the small, energy-rich nation hosts the 2022 FIFA World Cup later this month.The country, on a thumb-shaped peninsula that juts out into the Persian Gulf, has seen its international profile rise as Doha used its massive offshore natural gas fields to make its nation one of the world’s richest per-capita.

Jane Fonda: Nonprofit’s work ‘far more important’ after Roe

By ALEX SANZ2 hours ago

ATLANTA (AP) — Jane Fonda says the work of the Georgia-based nonprofit organization she founded to prevent teenage pregnancies has become “far more important” in the months since the U.S. Supreme Court overturned Roe v.

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Bet on it: Sports gambling effort in California is not over

By BRIAN MELLEY2 hours ago

LOS ANGELES (AP) — The effort to legalize sports betting in California ran headlong into a typical challenge for competing ballot measures as each was battered in a torrent of negative advertising that doomed both to spectacular failure in the most expensive ballot race in U.S.

Snoop Dogg biopic is in development with Universal Pictures

today

NEW YORK (AP) — Snoop Dogg is getting a big-screen biopic.Universal Pictures announced Wednesday that the studio is developing a film about Snoop Dogg’s life to be produced by the 51-year-old rapper.

Nets make Jacque Vaughn coach, decide against Udoka pursuit

By BRIAN MAHONEYtoday

NEW YORK (AP) — Jacque Vaughn knew when he moved into Steve Nash’s seat that he might just be keeping it warm for Ime Udoka.The Brooklyn Nets were expected to hire the suspended Boston Celtics coach for their job, maybe after Vaughn had it only for a game.

GMs not interested in discussing Click’s status with Astros

By MARK ANDERSONtoday

LAS VEGAS (AP) — Houston Astros general manager James Click hasn’t yet reached a new deal to return to the World Series champions — a curious situation, but not one he or his fellow GMs had much interest in discussing at their meetings this week.

After big win, Noem looks to cut tax, safeguard abortion ban

By STEPHEN GROVEStoday

SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem took the stage late Tuesday after a hearty reelection win in her deep red state, speaking behind a sign that captured her ambition for staying in the national spotlight: “America’s governor.”

Library caught in flap over LGBTQ material loses millage

today

JAMESTOWN TOWNSHIP, Mich. (AP) — An embattled western Michigan library targeted by residents opposed to LGBTQ materials on its shelves has lost most of its funding with the latest failure of the renewal of a property tax millage.

Díaz, Mets ink $102M, 5-year deal, record for MLB closer

By MIKE FITZPATRICKtoday

NEW YORK (AP) — With a record contract for Edwin Díaz, his swift return to the New York Mets was music to their ears.Díaz and the Mets completed their $102 million, five-year deal Wednesday — the largest for a reliever in baseball history.

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2022 midterms live updates: Latest election news from AP

By The Associated Presstoday

WASHINGTON (AP) — Follow along for real-time, on-the-ground updates on the 2022 U.S. midterm elections from The Associated Press. Live updates — all times Eastern — are produced by AP journalists around the country.

Republican concedes race for New Mexico House seat

By MORGAN LEEtoday

SANTA FE, N.M. (AP) — Incumbent Republican Rep. Yvette Herrell conceded defeat Wednesday in a close-fought race for New Mexico’s 2nd Congressional District, clearing a path toward victory for Democratic challenger Gabe Vasquez.

DC attorney general to make announcement about Commanders

By STEPHEN WHYNOtoday

WASHINGTON (AP) — The attorney general for the District of Columbia said he is holding a news conference about the Washington Commanders on Thursday, the latest off-field development for the NFL franchise that is the subject of multiple ongoing investigations.

GOP nudges closer to House win; Senate could hinge on runoff

By SARA BURNETT, JILL COLVIN and WILL WEISSERTtoday

WASHINGTON (AP) — Republicans inched closer to a narrow House majority Wednesday, while control of the Senate hinged on a few tight races in a midterm election that defied expectations of sweeping conservative victories driven by frustration over inflation and President Joe Biden’s leadership.

Russia claims pullout from occupied city; Ukraine skeptical

By SAM MEDNICKtoday

KYIV, Ukraine (AP) — Russia’s military said Wednesday it will withdraw from the only Ukrainian regional capital it captured, but Kyiv was skeptical and an analyst warned this could be a ruse to lure the country’s forces into a deadly trap.

Biden hopes Putin will negotiate WNBA star Griner’s release

today

WASHINGTON (AP) — President Joe Biden said Wednesday that he hopes Russian President Vladimir Putin will be more willing to negotiate the release of WNBA star Brittney Griner now that the U.S.

Illinois governor eyes legislative allies after reelection

By JOHN O’CONNORtoday

SPRINGFIELD, Ill. (AP) — Gov. J.B. Pritzker said Wednesday that his reelection a day earlier indicates that voters want Illinois “to be a beacon of hope and opportunity and caring” and declared his desire to serve the state as governor while dismissing the idea that he is eyeing the White House in two years.

Republicans sweep Georgia state offices, retain legislature

By JEFF AMYtoday

ATLANTA (AP) — Republicans swept to victories in all the statewide offices Tuesday’s ballot except U.S. senator, keeping Democrats shut out for the fourth straight four-year cycle on the state level, despite Democrats’ breakthrough on the federal level in 2020.

Biden wants to discuss Taiwan, Russia, trade with China’s Xi

By AAMER MADHANIyesterday

WASHINGTON (AP) — President Joe Biden said Wednesday he plans at an anticipated meeting with Chinese President Xi Jinping to discuss growing tensions between Washington and Beijing over the self-ruled island of Taiwan, trade policies and Beijing’s relationship with Russia.

Beyond Meat revenue drops as it cuts prices to boost demand

By DEE-ANN DURBINyesterday

Plant-based meat maker Beyond Meat said its revenue fell 22.5% in the third quarter as it cut prices in the face of weaker demand.The El Segundo, California-based company reported net revenue of $82.5 million for the July-September period.

EPA to consider tougher locomotive emissions rules

By JOSH FUNKyesterday

OMAHA, Neb. (AP) — The Environmental Protection Agency said Wednesday it will consider adopting stricter rules on locomotive emissions in response to concerns raised by California regulators.

The EPA said it has set up a team to evaluate whether it needs to update the pollution standards for locomotives that it put in place in 2008, and to look at what the agency can do to encourage railroads to upgrade their locomotives.

Slavery, involuntary servitude rejected by 4 states’ voters

By AARON MORRISONyesterday

Voters in four states have approved ballot measures that will change their state constitutions to prohibit slavery and involuntary servitude as punishment for crime, while those in a fifth state rejected a flawed version of the question.

Bank ordered to pay $563 million to victims of Petters fraud

yesterday

MINNEAPOLIS (AP) — A federal jury has awarded a record $564 million in damages to victims of a massive Ponzi scheme by Minnesota businessman Tom Petters.

The verdict handed down Tuesday against BMO Harris Bank is believed to be the largest financial penalty handed out by a jury in a Minnesota courtroom, according to attorneys who represented bankruptcy trustees.

Mississippi House speaker not seeking reelection in 2023

By EMILY WAGSTER PETTUSyesterday

JACKSON, Miss. (AP) — One of the most powerful jobs in Mississippi government will be up for grabs because state House Speaker Philip Gunn of Clinton says he will not seek reelection to the Legislature in 2023.

Fresh off victory, Lamont considering gas tax cut extension

By SUSAN HAIGHyesterday

HARTFORD, Conn. (AP) — Connecticut Gov. Ned Lamont, hours after winning a second term, said Wednesday he is considering additional steps to help make life more affordable for residents, including extending the state’s gas tax holiday beyond its looming Dec.

Abortion rights support helps Kansas Gov. Kelly win 2nd term

By JOHN HANNAyesterday

TOPEKA, Kan., (AP) — Democratic Gov. Laura Kelly narrowly won reelection in Republican-leaning Kansas by racking up big leads in the Kansas City area and other places where abortion rights are popular, while her party helped an independent candidate deny the GOP nominee a few crucial votes.

GOP expands lopsided legislative majorities in Kentucky

By BRUCE SCHREINERyesterday

LOUISVILLE, Ky. (AP) — Republicans expanded their overwhelming majorities in Kentucky’s legislature with sweeping victories that included the ouster of several House Democrats in districts stretching from the suburbs to Appalachia.

Appellate judge won’t block appointment of Trump Org monitor

By MICHAEL R. SISAKyesterday

NEW YORK (AP) — Former President Donald Trump’s company can’t avoid an independent monitor’s oversight while it appeals a court’s decision to require an outside watchdog, a New York appellate court judge ruled Wednesday.

Pennsylvania Democrats retain 3 competitive US House seats

By MARK SCOLFOROyesterday

HARRISBURG, Pa. (AP) — Democrats won all three of the most competitive congressional races in Pennsylvania this election cycle, giving the state a 9-to-8 Democratic-to-Republican delegation in Washington for the coming session.

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