NEW YORK (AP) — Walmart reported stronger sales for the first quarter, but its profit took a beating as the nation’s largest retailer grappled with surging inflation on food and fuel and higher costs from a snarled global supply chain.

Home Depot’s fiscal first-quarter sales improved even as the chain faced a slower start to spring, and it raised its full-year guidance. The home improvement company’s revenue increased about 4% to $38.91 billion.

Wall Street was heading toward a strong open on Tuesday as investors took in another batch of earnings from retailers that could reveal how persistent inflation is impacting consumer spending.

McDonald’s says it's started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.”

Russia will take control of French car manufacturer Renault’s operations in the country and resurrect a Soviet-era auto brand. The news Monday marks the first major nationalization of a foreign business since the war with Ukraine began.

LONDON (AP) — Elon Musk says his plan to buy Twitter is “temporarily on hold” as he tries to pinpoint the exact number of spam and fake accounts on the social media platform, another twist amid signs of turmoil over the proposed $44 billion acquisition.

WASHINGTON (AP) — The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades.

LONDON (AP) — The name “FIFA” can bring to mind images of the World Cup and soccer’s greatest players. Pele, Zinedine Zidane and Lionel Messi among them. The acronym for the sport’s governing body may also remind some of shameless bribery and corruption. But for many it’s the video game that is synonymous with FIFA.

WARSAW, Poland (AP) — In the weeks after Russia invaded Ukraine, a protest movement was born in Poland urging people to boycott companies that have chosen to keep operating in Russia.

NEW YORK (AP) — Wall Street is pointing toward another down day with global markets falling sharply on more bad inflation data. Futures for the S&P 500 are 0.5% lower and the Dow is down 0.3% a day after a U.S. government report showed inflation remains close to a four-decade high.

Many people are puzzling what a Elon Musk takeover of Twitter would mean for the company and even whether he’ll go through with the deal. If the 50-year-old Musk’s gambit has made anything clear it’s that he thrives on contradiction.

WASHINGTON (AP) — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier.

NEW YORK (AP) — Just as Americans gear up for summer road trips, the price of oil remains stubbornly high, pushing prices at the gas pump to painful heights. AAA says drivers are paying $4.37 for a gallon of regular gasoline. That’s especially hard on people who drive for a living.

NEW YORK (AP) — Stocks deepened their losses on Wall Street Monday, sending the S&P 500 to its lowest close in more than a year. The benchmark index is coming off its fifth weekly loss in a row as renewed worries about China’s economy piled on top of markets already battered by rising interest rates. Stocks fell across Europe and much of Asia, as did everything from old-economy crude oil to new-economy bitcoin.

WASHINGTON (AP) — More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years. Jobless claims in the U.S. rose by 19,000 to 200,000 for the week ending April 30, the Labor Department reported Thursday.

LONDON (AP) — OPEC and allied oil-producing countries are gradually increasing the amount of crude they send to the world. That decision Thursday comes even as Europe’s proposed phaseout of Russian oil threatens to yank millions of barrels off a global market already thirsty for crude.

WASHINGTON (AP) — Average long-term U.S. mortgage rates resumed their ascent this week, as the key 30-year loan reached its highest point since 2009. The increases came in the week preceding the widely anticipated action by the Federal Reserve, announced Wednesday, to intensify its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point and signaling further large rate hikes to come.

WASHINGTON (AP) — Record-low mortgages below 3% are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation. The half-point hike in its benchmark short-term rate that the Federal Reserve announced Wednesday won’t, by itself, have much immediate effect on most Americans. But additional large hikes are expected to be announced in June and July, and economists foresee the fastest pace of rate increases since 1989.

WASHINGTON (AP) — The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point. The half-point hike in the Fed’s key rate — its largest since 2000 — raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.

NEW YORK (AP) — New York's attorney general is announcing that the company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services. Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.

ATLANTA – Electric vehicle startup Rivian and state and local officials signed off Monday on a deal announced last December to build a $5 billion manufacturing plant east of Atlanta that will create 7,500 jobs.

An inflation gauge closely tracked by the Federal Reserve jumped 6.6% in March compared with a year ago, the highest reading in four decades, further evidence that surging prices are pressuring household budgets and the health of the economy. Yet there were signs in Friday’s report from the Commerce Department that inflation might be slowing from its galloping pace and could be nearing a peak, at least for now.     

The death toll from two coal mine accidents last week in southern Poland has risen to 13 after another injured miner died. The man died Tuesday at a hospital where 20 other coal mining workers are still being treated for burns from methane gas blasts, a doctor said. His death means that seven miners and rescuers were killed by repeated blasts Wednesday and Thursday at the Pniowek mine. Search for seven others who are missing was suspended after Thursday's blasts hurt 10 rescuers. In the nearby Borynia-Zofiowka mine 13 teams of rescuers are searching for four miners gone missing after a tremor and methane gas discharge Saturday. Six miners died in that accident.

Hunger is soaring across conflict-ridden Burkina Faso, a result of increasing violence by jihadi rebels linked to al-Qaida and the Islamic State group, which has killed thousands and displaced millions, preventing people from farming. According to the latest food security report by the government and U.N. agencies, some 3.5 million people in Burkina Faso are food insecure, with nearly 630,000 expected to be on the brink of starvation. This is an 82% increase from last year of people facing emergency hunger. Jihadi rebels are also expanding and pushing south and west into Burkina Faso’s breadbasket, stealing crops and livestock and chasing people from their rural farms and into cities.   

Elon Musk reached an agreement to buy Twitter for roughly $44 billion on Monday, promising a more lenient touch to policing content on the social media platform where he — the world's richest person — promotes his interests, attacks critics and opines on a wide range of issues to more than 83 million followers.