The highlights of the AP Business report. All times EDT. An up-to-the minute listing of all business stories planned is available in Coverage Plan on AP Newsroom, http://newsroom.ap.org/coverageplan. For access to AP Newsroom and other technical issues, contact AP Customer Support at 877-836-9477 or apcustomersupport@ap.org.
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TOP STORIES:
RUSSIA-UKRAIN WAR-ENERGY CONUNDRUM -- Across Europe, rising energy prices are testing the resolve of ordinary consumers and business owners who are caught between the continent's dependence on cheap Russian energy and its revulsion over President Vladimir Putin's invasion of Ukraine. By Colleen Barry, Veselin Toshkov and Justin Spike. SENT: 1,470 words, photos
AND:
OPEC-OIL PRICES -- OPEC and allied oil-producing countries decided Thursday to gradually increase the flows they send to the world, even as Europe's plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude. SENT: 640 words, photos.
FEDERAL RESERVE-GLOBAL IMPACT -- When the Federal Reserve raises interest rates, as it did Wednesday, the impact isn't confined to U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans. The fallout can be felt beyond America's borders, hitting shopkeepers in Sri Lanka, farmers in Mozambique and families in poorer countries around the world. By Paul Wiseman. SENT: 1,060 words, photos.
SMALL BUSINESS-HIRING LAG -- Some small businesses are still struggling to hire qualified workers, even as Americans return to the U.S. job market in droves. By Mae Anderson. SENT: 1,100 words, photos.
MUST-TWITTER -- Billionaire Elon Musk has strengthened the equity stake of his offer to buy Twitter with commitments of more than $7 billion from a range of investors, including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison. By Michelle Chapman. SENT: 440 words, photos.
MARKETS & ECONOMY:
FINANCIAL MARKETS -- Stocks are opening lower on Wall Street Thursday, giving up some of the big gains they made a day earlier. The S&P 500 had its biggest gain in two years a day earlier on relief that the Federal Reserve wasn't considering even bigger interest rate hikes than it was already doing. By Damian J. Troise and Alex Veiga. SENT: 770 words, photos. UPCOMING: Will be updated throughout trading, final version of around 700 words by 5 p.m.
UNEMPLOYMENT BENEFITS -- 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. By Matt Ott. SENT: 390 words, photos.
OFF THE CHARTS-STRONG DOLLAR -- The role of traditional safe haven has been behind the recent surge in the U.S. dollar's value, but economic forces will likely eventually weigh on the greenback in 2022. By Damian Troise. UPCOMING: 400 words by 9:30 a.m., photos.
MORTGAGE RATES -- Freddie Mac reports on this week's average U.S. mortgage rates. UPCOMING: 250 words after 10 a.m. release, photo.
PERSONAL FINANCE:
NERDWALLET-NEED GRAD DEGREE -- Graduate degrees, once touted as the new bachelor's degrees, are becoming less crucial to get jobs. Today, more college graduates than ever hold advanced degrees, and graduate programs are the only area of higher education that saw enrollment increases during the worst of the pandemic. And yet employers aren't requiring graduate degrees as often to gain entry into fields. By Anna Helhoski of NerdWallet. SENT: 970 words, photo.
INDUSTRY:
CORPORATE BOARDS-DIVERSITY -- Amid the push to get U.S. boardrooms to look more like companies' customers and employees, advocates are finally seeing just how steep the task will be. Boards of directors at publicly traded U.S. companies are much more white and much less diverse than the overall population, often starkly so. By Stan Choe. SENT: 820 words, photos.
EARNINGS:
BRITAIN-SHELL -- Energy giant Shell reported record first-quarter earnings after a surge in oil prices, fueling calls for the British government to impose a tax on energy companies' windfall earnings to help consumers struggling with the soaring cost of living. By Danica Kirka. SENT: 530 words, photos.
EUROPE-STELLANTIS -- Carmaker Stellantis on Thursday reported higher first-quarter revenues despite lower deliveries, with no significant impact from the closure of its Russian plant due to sanctions. SENT: 250 words, photos.
EARNS-DOORDASH -- DoorDash Inc. reports quarterly financial results after the market close. UPCOMING:
TECHNOLOGY & MEDIA:
CALIFORNIA-NET NEUTRALITY -- Telecommunications industry groups on Wednesday ended their bid to block California's net neutrality law that bars broadband providers from throttling service. SENT: 310 words, photos.
INTERNATIONAL:
BRITAIN ECONOMY -- The Bank of England raised its key interest rate to the highest level in 13 years on Thursday as policymakers around the world combat inflation fueled by high energy prices, Russia's war in Ukraine and lingering concerns about COVID-19. SENT: 420 words, photos.
TURKEY-ECONOMY -- Inflation in Turkey soared to nearly 70% in April, official data showed Thursday, as skyrocketing prices eat away at earnings and put even basic necessities out of reach for many households. SENT: 300 words, photos.
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