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WARREN, Mich. (AP) — In their first rollouts of electric vehicles, America’s automakers targeted people who value short-range economy cars. Then came EVs for luxury buyers and drivers of pickups and delivery vans. Now, the companies are zeroing in on the heart of the market: The compact SUV.

An epic legal fight between Elon Musk and Twitter began in earnest in a Delaware court on Tuesday as lawyers for both sides fought over when to start the trial. Twitter is trying to force the billionaire to make good on his April promise to buy the social media giant for $44 billion — and the company wants it to happen quickly because it says the ongoing dispute is harming its business.

Delta is ordering 100 737 Max 10 airplanes, the largest of the line produced by Boeing, potentially giving the manufacturer additional momentum after a troubled rollout of its most advanced aircraft. Delta has an option to purchase 30 more of the aircraft as the airline looks to keep up with surging travel demand.

Retail sales rose 1% in June

NEW YORK (AP) — Consumers picked up their spending from May to June, underscoring their resilience despite painfully higher prices at the gas pump and in grocery aisles. U.S. retail sales rose 1% in June, from a decline of 0.1 % in May.

Wells Fargo, the nation’s largest mortgage lender, saw its second-quarter revenue and profit decline as rising interest rates pushed people out of the housing market. The San Francisco bank earned $3.1 billion in the period, or 74 cents per share, coming up short of the 80 cents per share analysts expected. Revenue was $17 billion, also below Wall Street projections.

TOKYO (AP) — Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S. Toyota Chief Executive Akio Toyoda said the company was aiming for 200,000 vehicles in annual global sales in 40 nations. The Crown’s history parallels the rise of Toyota, but it is not well-known abroad.

NEW YORK (AP) — Stocks closed lower on Wall Street Thursday and banks were among the biggest weights on the market following weak earnings and a warning from JPMorgan Chase. The S&P 500 fell 0.3% and the Dow Jones Industrial Average lost 0.5%. The Nasdaq ended little changed. JPMorgan Chase reported a sharp drop in earnings for its latest quarter, falling short of forecasts.

WASHINGTON (AP) — Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy. The U.S. producer price index — which measures inflation before it hits consumers — rose at the fastest pace since hitting a record 11.6% in March.

BEIJING (AP) — Global stocks and Wall Street futures have fallen after higher U.S. inflation stoked expectations of more rate hikes that investors worry will chill economic growth. London and Frankfurt opened lower.

Stocks capped another shaky day on Wall Street with more losses Wednesday, after a highly anticipated report on inflation turned out to be even worse than expected. Prices at the consumer level were 9.1% higher last month than a year earlier, accelerating from May’s 8.6% inflation level.

Twitter sued Tesla CEO Elon Musk on Tuesday to force him to complete the $44 billion acquisition of the social media company. Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company. In a fiery filing, Twitter accuses Musk of violating the merger agreement “because the deal he signed no longer serves his personal interests.”

Amazon is heading into its annual Prime Day sales event on Tuesday much differently than how it entered the pandemic. The company has long used the two-day event to lure people to its Prime membership. This year, it could help Amazon boost profitability amid a slowdown in overall online sales. That's quite a reversal from the early days of the pandemic when the e-commerce giant’s profits soared as homebound shoppers turned to online shopping to avoid contracting the coronavirus.

NEW YORK (AP) — Wall Street got back to slumping Monday to kick off a week full of updates about how bad inflation is and how corporate profits are handling it. The S&P 500 fell 1.2% and gave up the majority of its gains from the prior week. The Dow Jones Industrial Average slipped 0.5%, and the Nasdaq composite dropped 2.3%.

NEW YORK (AP) — Shares of Twitter slid more than 6% before the opening bell Monday after billionaire Elon Musk said that he was abandoning his $44 billion bid for the company and the social media platform vowed to challenge Musk in court to uphold the agreement.

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline plunged 19 cents over the past two weeks to $4.86 per gallon. The average price at the pump is down 24 cents over the past month, but it's $1.66 higher than it was one year ago.

Elon Musk announced Friday that he will abandon his tumultuous $44 billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts. Twitter immediately fired back, saying it would sue the Tesla CEO to uphold the deal.

The proposed merger between Spirit Airlines and Frontier just can't get off the runway. Spirit announced late Thursday it would again postpone a vote on the deal, a sign that it lacks shareholder support for the merger in the face of a rival bid by JetBlue Airways. Spirit delayed the vote by a week, until July 15.

WASHINGTON (AP) — America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to cool the economy and slow price increases.

Stocks rallied again on Wall Street Thursday, and the S&P 500 is closing out a fourth straight gain. The 1.5% rise marks the longest winning streak for the index since March. Most of the market climbed, and energy-producing companies led the way after oil prices recovered a chunk of their sharp losses from earlier in the week. The bond market is still showing signs of worry about a possible recession, though.

NEW YORK (AP) — After going on a frenzied hiring spree for a year and a half to meet surging shopper demand, America’s retailers are starting to temper their recruiting. The changing mindset comes as companies confront a pullback in consumer spending, the prospect of an economic downturn and surging labor costs. Some analysts suggest that merchants have also learned to do more with fewer workers.

WASHINGTON (AP) — More Americans applied for unemployment benefits last week, and while layoffs remain low, it’s the fifth straight week claims have topped the 230,000 mark. Applications for jobless aid for the week ending July 2 rose to 235,000, up 4,000 from the previous week, the Labor Department reported Thursday. First-time applications generally track with the number of layoffs.

Major stock indexes shook off an early slump and ended with meager gains on Wall Street Tuesday as worries about the economy continue to weigh on markets. Oil prices slumped, bringing the price of U.S. crude back below $100 a barrel for the first time since early May. Tech stocks staged a turnaround and ended higher.

WASHINGTON (AP) — A new poll shows that many Americans don’t expect to rely on the digital services that became commonplace during the pandemic after COVID-19 subsides, even though many think it’s a good thing if those options remain available in the future. The poll comes from The Associated Press-NORC Center for Public Affairs Research.

LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May.

Stocks fell again on Wall Street Thursday, closing out the worst quarter for the market since the onset of the pandemic in early 2020. The S&P 500 index lost 0.9%. It's now down 21% since hitting a record high at the beginning of the year, having entered a bear market earlier in June. The Dow Jones Industrial Average fell 0.8% and the Nasdaq fell 1.3%.

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