US economy returned to growth last quarter, expanding 2.6%

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US economy returned to growth last quarter, expanding 2.6%

By PAUL WISEMAN2 hours ago

People shop at a grocery store in Glenview, Ill., Monday, July 4, 2022. The problems have hardly gone away. Inflation, still near a 40-year high, is punishing households. Rising interest rates have derailed the housing market and threaten to inflict broader damage. And the outlook for the world economy grows bleaker the longer the war in Ukraine drags on.  (AP Photo/Nam Y. Huh)

WASHINGTON (AP) — The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of contraction and overcoming high inflation and interest rates just as voting begins in midterm elections in which the economy’s health has emerged as a paramount issue.

Musk doesn’t seek a “free-for-all hellscape” for Twitter

By MATT O’BRIEN and TOM KRISHERan hour ago

This image from the Twitter page of Elon Musk shows Musk entering Twitter headquarters carrying a sink through the lobby area on Wednesday, Oct. 26, 2022 in San Francisco.  Musk posted a video Wednesday showing him strolling into Twitter headquarters ahead of a Friday deadline to close his $44 billion deal to buy the company.  (Twitter page of Elon Musk via AP)

Elon Musk attempted to soothe leery Twitter advertisers Thursday, a day before a deadline to close out on his $44 billion acquisition of the social media platform, saying that he is buying the platform to “help humanity” and doesn’t want it to become a “free-for-all hellscape.”

Europe sees fastest pace of rate hikes since euro launched

By DAVID McHUGHan hour ago

Christine Lagarde, President of the European Central Bank (ECB), gives a press conference at ECB headquarters in Frankfurt, Germany, Thursday, Oct. 27, 2022. The European Central Bank has made another outsized interest rate hike aimed at squelching out-of-control inflation. It increased rates by three-quarters of a percentage point Thursday at a meeting in Frankfurt.  (Arne Dedert/dpa via AP)

FRANKFURT, Germany (AP) — The European Central Bank piled on another outsized interest rate hike aimed at squelching out-of-control inflation, increasing rates at the fastest pace in the euro currency’s history and underscoring the bank’s determination to control prices despite the threat of recession.

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FINANCIAL MARKETS

FILE - Traders work on the floor at the New York Stock Exchange in New York, Aug. 10, 2022. Stocks mostly rose on Wall Street on Thursday, Oct. 27, 2022, but major indexes remained unsettled as more big companies report earnings. The benchmark index had more gainers than losers, but a slide from several big technology stocks with outsized valuations were more than offsetting gains elsewhere. (AP Photo/Seth Wenig, File)

Stocks waver on Wall Street, Facebook parent company slumps

BUSINESS HIGHLIGHTS

Business Highlights: Bank fees, Musk brings sink to TwitterBusiness Highlights: Adidas split with Ye, Google ad slumpBusiness Highlights: China’s growth, Credit Suisse finedBusiness Highlights: Social media concerns, deficit numbers

PAID FOR BY GOLDMAN SACHS

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

FILE - A pumpjack of Wintershall DEA extracts crude oil at an old oil field in Emlichheim, Germany, on March 18, 2022. Surging oil prices charged energy stocks through 2022 and could keep supporting the sector despite a looming recession and stubbornly hot inflation squeezing consumers. (AP Photo/Martin Meissner, File)

Energy stocks get oil price support as recession looms

Europe’s energy crisis raises firewood prices, theft fears

By VANESSA GERA, DAVID McHUGH and AUREL OBREJAtoday

Tudor Popescu chops fire wood he uses for heating in a storage room attached to his home in Chisinau, Moldova, Saturday, Oct. 15, 2022. Europe's energy crisis, triggered by Russia slashing natural gas flows amid its war against Ukraine, has forced some people to turn to cheaper heating sources like firewood as the weather gets colder. But as more people stock up and burn wood, prices have skyrocketed, shortages and thefts have been reported, and scams are emerging. (AP Photo/Aurel Obreja)

CHISINAU, Moldova (AP) — Tudor Popescu swings his ax down on a log, then feeds the split wood into a stove that heats his home in the capital of Moldova. As the nights turn chilly, the stack of firewood has been growing higher around him — his provisions for the coming winter.

Auto prices finally begin to creep down from inflated highs

By TOM KRISHER3 minutes ago

FILE - Cars for sale line the road at a used auto dealership in Philadelphia, Thursday, Sept. 29, 2022. The prices of new and used vehicles in the United States have begun inching down from their eye-watering record highs as more vehicles have become gradually available at dealerships. (AP Photo/Matt Rourke, FILE)

DETROIT (AP) — All summer long, Aleen Hudson kept looking for a new minivan or SUV for her growing passenger shuttle service.She had a good credit rating and enough cash for a down payment. Yet dealerships in the Detroit area didn’t have any suitable vehicles.

ECONOMY

President Joe Biden talks to reporters before boarding Marine One on the South Lawn of the White House, Thursday, Oct. 27, 2022, in Washington. (AP Photo/Evan Vucci)

Biden zeroes in on economic message as campaign winds down

SMALL BUSINESS

Hannah Nash places jewelry in a box that will be shipped out, Friday, Oct. 14, 2022, in Noblesville, Ind. Nash has her small business at her home. Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving. (AP Photo/Darron Cummings)

Small businesses brace for cautious holiday shoppers

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Belarus sends one more independent journ

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