Ingested Articles

Citigroup profit triples in 1Q, tops estimates; revenue down

Citigroup says profits more than tripled in the first quarter, helped by the release of billions of dollars from its loan-loss reserves. The New York-based company said it earned a profit of $7.94 billion, or $3.62 per share, compared to a profit of $2.54 billion, or $1.06 a share, in the same period a year earlier. Citi had a $2.06 billion one-time gain from releasing some loan-loss reserves. Separately, Citi is slimming down its global consumer banking franchise to focus on four geographic markets: Singapore, Hong Kong, the United Arab Emirates and London. The change does not impact Citi’s consumer banking operations in the U.S.

Thermo Fisher buying PPD in deal worth $17.4 billion

Thermo Fisher is buying clinical research company PPD in a deal valued at $17.4 billion. Thermo Fisher Scientific Inc. will pay $47.50 per PPD share. The transaction also includes approximately $3.5 billion in debt. PPD offers a range of clinical research and laboratory services to help increase drug development productivity. Its revenue totaled $4.7 billion last year. 

$1,400 stimulus checks helped March retail sales soar 9.8%

NEW YORK (AP) — Newly vaccinated and armed with $1,400 stimulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again. Retail sales surged a seasonally adjusted 9.8% in March after dropping…

Macron visits Notre Dame 2 years after devastating fire

French President Emmanuel Macron is visiting the building site that Notre Dame has become in the two years since a devastating fire tore through Paris' most famous cathedral. He hopes to show that French heritage hasn't been forgotten despite the pandemic. Ministers, architects and the retired army general who is overseeing Notre Dame's restoration joined Macron on Thursday as he inspected the progress of the massive rebuilding project. The president promised the cathedral would be rebuilt by 2024, yet officials acknowledge the work won’t be fully completed by then. They have pledged Notre Dame will be at least be open for worship in time for the 2024 Summer Olympics in Paris.   

Senior royals to skip uniforms at Prince Philip's funeral

LONDON (AP) — Senior royals must wear civilian clothes to Prince Philip’s funeral, defusing potential tensions over who would be allowed to don military uniforms. Queen Elizabeth II's decision means Prince Harry won’t risk being the only member of the…

Officials say Olympic cancellation, no fans still an option

Two officials in Japan’s ruling LDP party have suggested separately that the Tokyo Olympics could be in for some radical changes. One says they could be canceled. The other says they could proceed without any fans. The speculation comes only a day after Tokyo reached the 100-days-to-go mark. Liberal Democratic Party secretary general Toshihiro Nikai says cancellation is still an option with coronavirus cases rising across the country. Taro Kono is the minister in charge of the vaccine rollout in Japan. He says that even if the games go on it may be without any fans. Organizers last month banned fans from abroad.

Bank of America profit doubles in 1Q to $8.1 billion

Bank of America’s profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. The Charlotte-based banking giant earned $8.1 billion in the quarter, equal to 86 cents per share, compared to a profit of $4.01 billion, or 40 cents a share, in the same period a year earlier. Analysts were looking for BofA to earn 66 cents a share. The bank had a net one-time gain of $1.86 billion for releasing loans from its loan-loss reserves. 

Ambassador: UAE played part in India-Pakistan cease-fire

DUBAI, United Arab Emirates (AP) — The United Arab Emirates played a role in getting longtime Asian rivals India and Pakistan to agree to a cease-fire amid tensions over the disputed region of Kashmir, the Emirati ambassador to Washington said.…

EXPLAINER: What are the Iran nuclear talks all about?

Negotiations aimed at bringing the United States back into the landmark nuclear deal with Iran have resumed in Vienna. At issue is how to revive a 2015 accord between Iran and world powers that was intended to block Tehran from building a nuclear weapon by setting limits on its nuclear program. Iran has steadily violated the deal since the United States pulled out of it. U.S. President Joe Biden now wants to rejoin the agreement but says Iran must reverse its violations. Iran says it is willing to return to full compliance  but Washington must first drop the sanctions imposed on the country in recent years.

'Distance makes sense:' Semenya pins Olympic hopes on 5,000

Caster Semenya won the 5,000-meter race at the South African national championships in a personal-best time and then said she's likely to focus on long-distance events for the rest of her career. The 5,000 appears to be her best chance of running at this year's Tokyo Games after being been banned from the 800 because of World Athletics' contentious testosterone rules. Semenya's time of 15 minutes, 52.28 seconds in the 5,000 was outside the Olympic qualifying mark of 15:10.00. Semenya is a two-Olympic champion in the 800. She has until the end of June to qualify for the Tokyo Games.

WHO: Europe has surpassed 1 million COVID-19 deaths

GENEVA (AP) — GENEVA — A top official from the World Health Organization says Europe has surpassed 1 million deaths from COVID-19 and the situation remains “serious,” with about 1.6 million new cases reported each week in the region. Addressing…

AP sources: Tool behind crackdown on opioids could expire

The Biden administration has been slow-walking the extension of a legislative order that would keep in place a sweeping tool that’s helped federal agents crack down on drugs chemically similar to fentanyl. That's according to three people familiar with the matter who spoke to The Associated Press. The people say that in recent weeks the White House and Justice Department leaders have canceled several meetings with officials at the Drug Enforcement Administration to discuss the plan around so-called fentanyl analogues, foreign-made drugs that are similar to the dangerous opioid. Justice officials say they are seeking a seven-month extension while working on a more permanent solution.

France's pandemic death toll set to pass 100,000 amid surge

PARIS (AP) — France's coronavirus death toll is expected to pass 100,000 on Thursday after a year of hospital tensions, on-and-off lockdowns and personal loss that have left families nationwide grieving the pandemic’s unending, devastating toll. The country of 67…

US warns of punitive actions for Lebanese blocking reforms

BEIRUT (AP) — A senior U.S. official warned Thursday that Lebanese politicians who continue to block reforms in the crisis-hit country could face punitive actions by Washington and its allies. U.S. undersecretary of state for political affairs David Hale did…

Report: Dubai 'jetman' didn't deploy chute in fatal crash

DUBAI, United Arab Emirates (AP) — One of Dubai's famed “jetman” pilots killed in a crash in November failed to deploy the emergency parachute attached to the winged engines strapped to his back, an investigative report released Thursday found. Investigators…

Biologists defy Cyprus' ethnic cleave to protect environment

NICOSIA, Cyprus (AP) — There’s something regal in the sprightly step and curious gaze of the long-horn sheep that roam the hills near Varisia, an abandoned village inside a U.N. buffer zone that cuts across ethnically divided Cyprus. The endangered…

LEADING OFF: Jackie Robinson Day, Red Sox go for 10th in row

All players, managers, coaches and umpires will wear No. 42 on Thursday to celebrate Jackie Robinson Day, marking the anniversary of the date the Brooklyn Dodgers Hall of Famer made his Major League Baseball debut and broke the sport’s color barrier in 1947. A video produced by MLB Network titled “Thank You, Jackie” narrated by former star Curtis Granderson will present Robinson’s impact as a champion on and off the field and be shown at ballparks. Teams that are off Thursday will honor Robinson when they play Friday. Also, the Boston Red Sox go for their 10th straight win.

Algeria protesters at crossroads as Islamists take spotlight

ALGIERS, Algeria (AP) — Algeria's pro-democracy movement is at a crossroads two years after it ousted the country's long-serving leader, confronting fears it's been infiltrated by a group with links to an Islamist party outlawed during a dark era of…

What is a COVID-19 vaccine passport, and will I need one?

What is a COVID-19 vaccine passport, and will I need one? “Vaccine passports," or vaccine certificates, are documents that show you were vaccinated against COVID-19 or recently tested negative for the virus. They could help you get into places such…

EXPLAINER: What's behind the conflict in eastern Ukraine?

MOSCOW (AP) — Tensions are rising over the conflict in eastern Ukraine, with growing violations of a cease-fire and a massive Russian military buildup near its border with the region. Ukraine and the West have become worried about the Russian…

Pandemic-driven spring football requires virtual creativity

Juggling church and football can be a typical Sunday for NFL fans. The coronavirus pandemic had some college football fans facing the challenge. Leagues in the Football Championship Subdivision pushed football to this spring due to the virus. Schools still faced some of the same issues in the spring that colleges dealt with in the fall — canceled games, limited practices, sidelined players. But Sundays were more of a spring thing. The Ohio Valley Conference and Northeast Conference decided to play on Sunday to help schools staff all the sports in this chaotic spring. But teams got it done, and now the 16-team FCS playoff bracket will be announced Sunday with the rest of the teams turning their attention back to fall.

Super-G ace Andrew Weibrecht back on skis for Make-A-Wish

Three years after Andrew Weibrecht retired from the U.S. Ski team, the two-time Winter Olympic medalist is back on his skis for a unique fundraising event. He’s skiing the summits of all 46 high peaks in the Adirondack Mountains for the Make-A-Wish Foundation of Northeastern New York, which has had to cancel two annual events because of the coronavirus pandemic. Weibrecht, who won Olympic bronze and silver in super-G in 2010 and 2014, says it seemed like an opportunity to combine his love of skiing and the outdoors with the needs of Make-A-Wish. So far, he's up to 21 peaks and intends to complete his quest in about a year. 

Colorful coffins lighten mood at New Zealand funerals

At one recent funeral in New Zealand, there were gasps before a wave of laughter rippled through the hundreds of mourners. The pallbearers brought a coffin shaped like a giant cream donut. It's the latest creation by the deceased's cousin, Ross Hall, who runs a business that custom builds colorful coffins called Dying Art. Other creations by Hall include a sailboat, a firetruck, a chocolate bar and Lego blocks. There have been glittering coffins covered in fake jewels, a casket inspired by the movie “The Matrix,” and plenty of coffins depicting people’s favorite beaches and holiday spots. Hall says the tone of funerals has changed markedly over recent years, and people now think it’s a celebration of life rather than a mourning of death.