CEO pay rose 17% in 2021 as profits soared; workers trailed

NEW YORK (AP) — Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according...

Big tech deals keep coming: Broadcom buys VMware for $61B

Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and...

Computer chip and software maker Broadcom will pay $61 billion for VMware, one of the biggest acquisitions of the year

Davos gathering overshadowed by global economic worries

DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic. The risks to the global economy are many, leading to an increasingly gloomy view of the months ahead for...

Spain to invest $13 billion to build microchip industry

MADRID (AP) — The Spanish government on Tuesday announced a 12.3 billion euro ($13.2 billion) investment plan to convert the country into a major producer of microchips and help reduce the dependence of Spain and the European Union on other suppliers. The announcement in Madrid...

EXPLAINER: US keeps world guessing on Taiwan stance

WASHINGTON (AP) — For the third time in less than a year, President Joe Biden has stirred controversy with his comments about Taiwan. The latest example came during his visit to Japan, when a reporter asked if the United States would respond militarily if China invaded the island. ...

Davos updates | Urgent need in Afghanistan is saving economy

DAVOS, Switzerland (AP) — Two high-level speakers at the World Economic Forum gathering say Afghanistan’s most urgent need is saving its economy from complete collapse. Achim Steiner, administrator of the United Nations Development Program, said Monday in Davos that “we cannot...

EXPLAINER: What's in Biden's proposed new Asia trade pact?

TOKYO (AP) — President Joe Biden faced a dilemma on trade in Asia: He couldn't just rejoin the Trans-Pacific Partnership that his predecessor had pulled the U.S. out of in 2017. Many related trade deals, regardless of their content, had become politically toxic for U.S. voters, who associated...

Biden pushes economic, security aims as he ends SKorea visit

SEOUL, South Korea (AP) — President Joe Biden tended to both business and security interests Sunday as he wrapped up a three-day trip to South Korea, first showcasing Hyundai's pledge to invest at least $10 billion in the United States and later mingling with troops at a nearby military base. ...

US, SKorea open to expanded military drills to deter North

SEOUL, South Korea (AP) — U.S. President Joe Biden and South Korean President Yoon Suk Yeol said after meeting Saturday that they will consider expanded joint military exercises to deter the nuclear threat from North Korea at a time when there's little hope of real diplomacy on the matter. ...