Retail sales slow in April after a spending splurge as Americans sought to front-run tariffs

WASHINGTON (AP) — U.S. consumers spent slightly more at retail stores last month after ramping up their shopping in March to get ahead of tariffs. Government data showed Thursdasy that sales at retail stores and restaurants rose just 0.1% in April from March, a sharp slowdown from a 1.7% gain in the previous month. The big increase from February to March was fueled by a surge in car sales that reflected an effort by consumers to get ahead of the new auto tariffs that went into effect this month.

Under a cloud of tariffs, Walmart is the latest retailer to announce price hikes

NEW YORK (AP) — Volley after volley of tariffs — and at times on-again, off-again trade actions — have put companies around the world on edge. And a handful of major retailers have already raised prices across the U.S., or warned of future hikes. President Donald Trump's sweeping new import taxes and responding retaliation from some targeted countries have piled up in recent months. Because companies that buy products made abroad pay the tariffs imposed on them, higher costs that are typically passed on to consumers. Walmart, Barbie maker Mattel, Microsoft's Xbox and more have recently announced or anticipate price hikes amid the ongoing trade wars.

Older people in crosshairs as government restarts Social Security garnishment on student loans

NEW YORK (AP) — As the Trump administration resumes collections on defaulted student loans, hundreds of thousands of older Americans with decades-old debts are now at risk of having their Social Security checks garnished. People with student loans had their payments and interest paused five years ago when the pandemic thrust many into financial hardship. But all extensions and grace periods are over and the federal government said this month it would restart the garnishment of paychecks, tax refunds and Social Security benefits. Student loan debt among older people has grown at a staggering rate. The Consumer Financial Protection Bureau says the number of Social Security beneficiaries who have had their payments garnished has ballooned by 3,000% over the past two decades.

Here's a story about the history of the Like button that you might like

SAN FRANCISCO (AP) — The internet wouldn’t be the same without the Like button, the thumbs-up icon that Facebook and other online services turned into digital catnip. Like it or not, the button has served as a creative catalyst, a dopamine delivery system, a tribal totem pole and an emotional battering ram. It also became an international tourist attraction after Facebook plastered the symbol on a giant sign on that stood outside its Silicon Valley headquarters until the company rebranded itself as Meta Platforms in 2021. A new book delves into the convoluted story behind a symbol that’s become both the manna and bane of a digitally driven society.

European shares are higher after a mixed session in Asia

HONG KONG (AP) — European stocks have advanced after a mixed trading session in Asia during a lull in tariffs-related news. Tokyo's Nikkei was nearly unchanged after Japan reported its economy contracted more than expected in the first quarter of the year. On Thursday, the S&P 500 rose 0.4%, extending its winning streak to a fourth day and pulling within 3.7% of its record. The Dow Jones Industrial Average added 0.6%, and the Nasdaq composite fell 0.2%. Reports suggested the Federal Reserve may have more room to cut interest rates later this year if the U.S. economy weakens under the weight of President Donald Trump's tariffs.

A rare warning from Walmart during a US trade war: Higher prices are inevitable

NEW YORK (AP) — Walmart, which became the nation’s largest retailer by making low prices a priority, has found itself in a place it’s rarely been: Warning customers that prices will rise for goods ranging from bananas to car seats. Executives at the $750 billion company told industry analysts Thursday that they are doing everything in their power to absorb the higher costs from tariffs ordered by President Donald Trump. Given the magnitude of the duties, however, the highest since the 1930s, higher prices are unavoidable, and they will hurt Walmart customers already buffeted by inflation over the past three years. Walmart reported strong sales for the first quarter on Thursday, though profits slipped.

UN forecasts slower global economic growth following Trump's tariffs and trade tensions

UNITED NATIONS (AP) — The United Nations is forecasting slower global economic growth this year and next, pointing to the impact of the surge in U.S. tariffs and increasing trade tensions. U.N. economists also cited the volatile geopolitical landscape and threats of rising production costs, supply chain disruptions and financial turbulence.“ The U.N. is now forecasting global economic growth of 2.4% this year and 2.5% next year. Last year, the global economy grew 2.9%. The slowing is affecting most countries and regions, but among the most severely hit are the poorest and least developed countries.

US lost business travelers in April as economic anxiety and border detentions cooled demand

Business travel to the U.S. fell 9% in April as companies and workers grappled with economic uncertainty and anger over the Trump administration’s tariffs and border policies. The National Travel and Tourism Office released preliminary figures Thursday showing the number of people who entered the country using business visas. The Middle East was the only region that saw higher business travel to the U.S. in April, with arrivals up 9.4% compared to last April. Some industry analysts expect U.S. business travel trends to worsen this year as companies worry about U.S. border policies and economic uncertainty.

US wholesale prices dropped 0.5% last month despite President Trump's tariffs

WASHINGTON (AP) — U.S. wholesale prices dropped unexpectedly in April  for the first time in more than a year despite President Donald Trump’s sweeping taxes on imports. The producer price index — which tracks inflation before it hits consumers — fell 0.5% last month from March and rose 2.4% from April 2024, the U.S. Labor Department reported Thursday. Excluding volatile food and energy prices, so-called core wholesale prices dipped 0.4% from March and rose 3.1% from a year earlier.

More than 2,000 Starbucks baristas go on strike to protest new dress code

More than 2,000 Starbucks baristas at 120 U.S. stores have gone on strike since Sunday to protest a new company dress code. The coffee giant announced last month that it was setting new limits on what baristas can wear under their green aprons. Starting Monday, employees were required to wear a solid black shirt and khaki, black or blue denim bottoms. Starbucks said the new rules would make its green aprons stand out. But a union that represents workers at 570 of Starbucks’ 10,000 company-owned U.S. stores says the dress code should be subject to bargaining. Starbucks says the strike is having a limited impact and walkouts lasted less than at hour at some locations.