To revive stale US sales, candy companies pitch gum as a stress reliever and concentration aid
Gum makers are trying to figure out what will make Americans start chewing again. Generational habits, health concerns and the coronavirus pandemic have gnawed away at gum sales. Some manufacturers are leaving the U.S. market altogether. But Mars, which owns the 133-year-old Wrigley brand, is trying to reposition gum as a stress reliever and a concentration aid as well as a breath freshener. A company executive says the “aha moment” came from a nurse in a hospital COVID-19 ward who chewed gum behind a mask to calm herself. Market research firm Circana says U.S. chewing gum sales rose less than 1% last year to 1.2 billion packages, which was still 32% fewer than in 2018.
Apple is making big App Store changes in Europe over new rules. Could it mean more iPhone hacking?
Apple is opening small cracks in the iPhone’s digital fortress as part of a regulatory clampdown in Europe that’s striving to give consumers more choices. But it’s coming at the risk of creating new avenues for hackers to steal personal and financial information stored on the devices. The overhaul rolling out Thursday only in the Europe represents the biggest changes to the iPhone’s App Store since Apple introduced the concept in 2008. Among other things, people in Europe can download iPhone apps from stores that aren’t operated by Apple and are getting alternative ways to pay for in-app transactions. It’s all part of the Digital Markets Act taking effect Thursday.
Europe’s inflation is way down. But hope is gone for a quick interest rate cut
FRANKFURT, Germany (AP) — Europe’s outburst of inflation is receding. But a cut in interest rates from a record-high 4% is not going to happen at Thursday’s European Central Bank meeting. And it may even have to wait until summer. ECB President Christine Lagarde is likely to stress Thursday that the bank wants to see more evidence that the inflation beast has been tamed before cutting rates. Inflation was down to 2.6% in February, but the consumer price index has been stuck between 2% and 3% for five months, raising concern that the last mile toward the ECB’s goal of 2% may be slower than hoped.
China’s exports and imports beat estimates for first 2 months, signaling improving demand
HONG KONG (AP) — China’s exports and imports for the first two months of the year beat estimates, an indication that demand may be improving as Beijing attempts to speed up its economic recovery. Customs data released Thursday showed exports for January and February grew 7.1% from a year earlier, up from a 2.3% rise in December. Imports rose 3.5%, compared to 0.2% growth in December. The trade surplus was $125 billion. The world’s second-largest economy has struggled to bounce back after the COVID-19 pandemic, as it grapples with weaker demand globally and a slump in its property sector that is weighing on growth.
Europe’s Digital Markets Act is forcing tech giants to make changes. Here’s what that will look like
LONDON (AP) — Europeans scrolling their phones and computers this week will get new choices for default browsers and search engines, where to download iPhone apps and how their personal online data is used. They’re part of changes required under the Digital Markets Act. It’s a set of European Union regulations that six tech companies classed as “gatekeepers” will have to start following by midnight Wednesday. They are Amazon, Apple, Google parent Alphabet, Meta, Microsoft and TikTok owner ByteDance. Europe has been a global leader in reining in tech giants. The rules are kicking in as a global effort to crack down on the tech industry picks up pace.
Stock market today: Global shares mostly decline after Wall Street recovers
TOKYO (AP) — Global shares are trading mostly lower after Wall Street recovered some losses from the day before. Benchmarks fell in early Thursday trading in France, Germany and Britain. U.S. futures are also slipping. Japan’s benchmark Nikkei momentarily reached a new record high in early trading but later finished lower. Shares also declined in Hong Kong and Shanghai. Federal Reserve Chair Jerome Powell said again that cuts interest rates may be coming later this year, but the Fed needs more data showing inflation is cooling. Oil prices fell. Investors are also watching signs from the European Central Bank, where the Governing Council is concluding its policy meeting.
A federal judge has ordered a US minority business agency to serve all races
NEW YORK (AP) — A federal judge in Texas has ordered a 55-year-old U.S. agency that caters to minority-owned businesses to serve people regardless of race, siding with white business owners who claimed the program discriminated against them. The ruling was a significant victory for conservative activists waging a far-ranging legal battle against race-conscious workplace programs, bolstered by the Supreme Court’s ruling last June dismantling affirmative action programs in higher education. Judge Mark T. Pittman of the U.S. District Court of the Northern District of Texas ruled that the Minority Business Development Agency’s eligibility parameters violate the Fifth Amendment’s equal protection guarantees because they presume that racial minorities are inherently disadvantaged.
House passes $460 billion package of spending bills. Senate expected to act before shutdown deadline
WASHINGTON (AP) — The House has passed a $460 billion package of spending bills that would keep money flowing to key federal agencies through the remainder of the budget year. The Senate is expected to take up the legislation before a midnight Friday shutdown deadline. And lawmakers are negotiating a second package of six bills, including defense. A significant number of House Republicans opposed the first measure, forcing House Speaker Mike Johnson to use an expedited process to bring the bill up for a vote. Johnson says the bill gives Republicans some wins on spending and says Republicans “have to be realistic” about what they can achieve in such a closely divided government.
Ex-Google engineer charged with stealing AI trade secrets while working with Chinese companies
WASHINGTON (AP) — The Justice Department says a former software engineer at Google has been charged with stealing artificial intelligence technology from the company while secretly working with two companies based in China. Linwei Ding was arrested in Newark, California, on four counts of federal trade secret theft. The case against Ding was announced at an American Bar Association Conference in San Francisco by Attorney General Merrick Garland, who along with other law enforcement leaders has repeatedly warned about the threat of Chinese economic espionage and about the national security concerns posed by advancements in artificial intelligence. It was not immediately clear whether Ding has a lawyer who could speak on his behalf.
Millions of train, air passengers are affected in Germany as union members go on strike again
BERLIN (AP) — Millions of travelers across Germany are being affected by strikes again after two unions called for two-day walkouts over wages and work conditions. Around 80% of all long-distance trains as well as regional and commuter trains in the country were canceled early Thursday as train drivers went on strike. Air travel was affected as well, as ground staff for German airline Lufthansa stopped working early in the morning. The strikes led to traffic jams in cities and on highways, a shortage of share and rental cars, and plane passengers trying to desperately rebook flights to reach their destinations. Lufthansa said about 1,000 flights per day would have to be canceled.
