Business

CAIRO (AP) — The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion, in a move that is meant to shore up the Arab country’s economy which is hit by a staggering shortage of foreign currency and soaring inflation. In a statement late Friday, the board …

Meta will be sunsetting Facebook News in early April for users in the U.S. and Australia as the platform further deemphasizes news and politics. The feature was shut down in the U.K., France and Germany last year. Launched in 2019, the News tab curated headlines from national and international news organizations, as well as smaller, local publications. Meta says users …

NEW YORK (AP) — How much does it cost to feel special? At Chuck E- Cheese, the family entertainment and pizza chain, the price is $7.99, $11.99 or $29.99 per month. At the other end of the spectrum, the founder of a shopping app called Long Story Short wants to charge members $1,000 monthly for anonymous access to such hard-to-get …

Stocks recovered some of their losses from the day before, which was Wall Street’s worst in three weeks. The S&P 500 rose 0.5% Wednesday. The Dow added 0.2%, and the Nasdaq climbed 0.6%. Treasury yields edged lower after Federal Reserve Chair Jerome Powell said again that cuts to interest rates may be coming later this year. Powell also said the …

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose for the fourth consecutive week, another setback for prospective homebuyers just as the spring homebuying season gets going. The average rate on a 30-year mortgage rose to 6.94% from 6.90% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.65%. The average rate is …

Chevrolet originally launched its Trax extra-small crossover SUV for the 2015 model year. It was inexpensive, yes, but that was just about the only compelling aspect about it. However, the new 2024 Chevrolet Trax kicks off the model’s second generation. The nameplate has undergone an astonishing transformation, going from a frumpy-looking hatchback on stilts to a sleek head-turner. But good …

GENEVA (AP) — The century-old Geneva motor show is back in action for the first time in five years, and organizers are desperately trying to rev up its fortunes. The show skidded off track in 2020 — canceled at the last minute because of the coronavirus outbreak — and had been stalled until now. A handful of automakers, including fabled …

CHICAGO (AP) — United Airlines said Friday that it is raising its fees for checking bags, following a similar move earlier this week by American Airlines. Starting with tickets booked Saturday, economy-class passengers on domestic flights will be charged $5 more. That will bring the price to $35 if they pay online at least 24 hours before the flight, and …

Canadian discount airline Lynx Air will shut down on Monday and suggested that it could cancel many flights over the weekend too, leaving customers scrambling to make new travel plans. Lynx announced the shutdown late Thursday and told customers to contact their credit-card company about getting a refund for canceled flights. The Calgary, Alberta, airline said it could not help …

Nvidia’s stock price jumped 16% on Thursday, increasing the company’s market value by a staggering $273 billion in just one day, a record amount. The chipmaker has been seeing soaring demand for its semiconductors, which are used to power artificial intelligence, or AI applications. The company’s revenue more than tripled in the latest quarter compared with the same period a …