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AP Business SummaryBrief at 10:47 p.m. EST

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CNH Industrial workers on strike since May approve new deal

More than 1,000 CNH Industrial workers who have been on strike since last May have approved a new contract with the maker of tractors, bulldozers, backhoes and other heavy equipment. The United Auto Workers union said workers in Racine, Wisconsin, and Burlington, Iowa, approved the deal Saturday — two weeks after they rejected an earlier agreement. The union didn't disclose any details of what is included in the new contract, and the company didn't immediately respond Sunday to questions about the agreement. This strike was one of the longest in the spate of strikes over the past couple years since the pandemic began. Workers have been increasingly demanding and getting significant raises and better benefits amid the ongoing worker shortages.

Native Hawaiians flock to Las Vegas for affordable living

KAPOLEI, Hawaii (AP) — Native Hawaiians who have been priced out of Hawaii are finding more affordable places to live in cities like Las Vegas. According to 2021 U.S. census estimates, the biggest growth of Native Hawaiian and other Pacific Islander populations was in Clark County, Nevada, and Sacramento County, California. The biggest decline was in Honolulu, where the median price for a single-family home is more than $1 million. Hawaii is now the state with the highest cost of living, and many worry about what it means for Hawaii that many Indigenous people can no longer afford to live here.

Gyms that survived pandemic steadily get back in shape

NEW YORK (AP) — After surviving the worst of the pandemic, the nation's gyms and fitness centers have made a comeback, often using tricks learned during the downturn to lure back customers. Owners such as Julie Bokat and Jeanne Carter in Massachusetts say some longtime clients got bored working out in their basements and welcome the sense of community a gym offers. Some gyms still offer outdoor sessions while others are tailoring classes to a new clientele that hadn't been into exercising before the pandemic. While attendance at many locations is still below pre-pandemic levels, most owners are confident they've at least made it through the darkest days.

The AP Interview: Yellen says debt standoff risks ‘calamity’

DAKAR, Senegal (AP) — U.S. Treasury Secretary Janet Yellen says in an Associated Press interview that she expects Congress will ultimately vote to raise America's debt limit. But she says demands by House Republicans for spending cuts in return for backing an increase “a very irresponsible thing to do” and risk creating a “self-imposed calamity” for the global economy. Yellen says she hasn't yet spoken about the issue with Republican House Speaker Kevin McCarthy. McCarthy himself hasn't spelled out the spending cuts that he says are needed to put the U.S. government on a more sustainable financial path. The AP interview was conducted while Yellen was on a trip to Africa.

Big waves to deliver storied Hawaii surf contest The Eddie

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HONOLULU (AP) — One of the world’s most prestigious and storied surfing contests is expected to be held Sunday in Hawaii for the first time in seven years. And this year female surfers will be competing alongside the men for the first time in the 39-year history of The Eddie Aikau Big Wave Invitational. The event is a one-day contest held in Waimea Bay on Oahu’s North Shore only when the surf is consistently large enough during the winter big wave surfing season from mid-December through mid-March. Before this year, it’s only been held nine times since the initial competition in 1984. The competition honors legendary Native Hawaiian waterman Eddie Aikau for his selflessness, courage and sacrifice.

Asian shares higher, many markets closed for Lunar New Year

BANGKOK (AP) — Shares are higher in Asia, but most markets are closed for the Lunar New Year holiday. The gains for Tokyo and Sydney followed a rally Friday for tech stocks that countered worries about the weakening U.S. economy. The S&P 500 rose 1.9%, but still ended with a weekly loss. The Nasdaq added 2.7% and the Dow rose 1%. Technology and communication services stocks powered a big share of the gains as investors cheered another big quarterly surge in Netflix’s subscribers. Several reports on the U.S. economy came in weaker than expected, as the full weight of the Federal Reserve’s hikes to interest rates last year begins to yield results.

Justice Department investigating Abbott baby formula plant

NEW YORK (AP) — The U.S. Justice Department is investigating the Abbott Laboratories infant formula plant in Michigan that was shut down for months last year due to contamination, the company confirmed. The factory’s closure in February 2022 contributed to a nationwide baby formula shortage that forced parents to seek formula from food banks, friends and doctor’s offices. Production was restarted in June. Abbott spokesperson Scott Stoffel said the Justice Department has informed the company of its investigation. Stoffel said and the company is “cooperating fully.” The investigation was first reported by The Wall Street Journal, which said the Justice Department’s consumer-protection branch is looking into conduct at the Sturgis, Michigan, plant that led to its shutdown.

White House to McCarthy: No negotiations on debt limit

WASHINGTON (AP) — The White House says President Joe Biden “looks forward” to sitting down with new House Speaker Kevin McCarthy to discuss a range of topics. That perhaps includes the big challenge of raising the nation’s debt limit. But that statement late Friday came with no actual invitation to the White House. Rather, the White House is emphasizing that Biden isn't willing to entertain policy concessions in exchange for increasing the government's borrowing authority. The U.S. bumped up against that limit Thursday, and the Treasury Department is using what it calls “extraordinary measures” to stave off a potential default for at least a few more months.

Door of No Return: Yellen visits onetime slave-trading post

GOREE ISLAND, Senegal (AP) — U.S. Treasury Secretary Janet Yellen has paid a solemn visit to an island off Senegal that is one of the most recognized symbols of the horrors of the Atlantic slave trade that trapped tens of millions of Africans in bondage. Yellen is in Senegal as part of a 10-day trip aimed at rebuilding economic relationships between the U.S. and Africa. On Saturday, she visited the Goree Island building known as the House of Slaves and peered out of the “Door of No Return,” from which enslaved people were shipped across the Atlantic. Yellen says the island and the trans-Atlantic slave trade “are not just a part of African history. They are a part of American history as well.”

Greece expanding border wall, calls for EU help on migration

FERES, Greece (AP) — An official in Greece says the country has prevented around 260,000 migrants from entering illegally in 2022 and arrested 1,500 traffickers. A Greek minister was speaking Saturday to ambassadors from other European Union countries plus Switzerland and the United Kingdom Saturday as he guided them to a still expanding border wall in the country’s northeast. Citizens’ Protection Minister Takis Theodorikakos told the envoys that “countries of first reception” such as Greece can't bear by themselves the numbers of migrants. Greece is expanding the existing 27-kilometer (17-mile) steel border wall to eventually cover most of the 192-kilometer (120-mile) land border with Turkey.

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Michigan Democrats worked late Thursday night to pass over $1 billion in spending that includes $200 million in funding for a paper mill in the Upper Peninsula. Funding for the Escanaba Mill, which is operated by Swedish paper producer Billerud, will go toward upgrades expected to bring $1 billion in investments and retain over 1,200 jobs in the area. The supplemental budget's approval comes after Gov. Gretchen Whitmer delivered a State of the State speech Wednesday that focused heavily on economic development and retaining jobs in the state. Republicans criticized the spending legislation Thursday for being secretive and happening “behind closed doors."

Nevada Gov. Joe Lombardo says he wants to cut business taxes, suspend the state gasoline tax for a year, make the single biggest investment in education in Nevada history and raise state employee pay 12% over the next two years. In his first State of the State address Monday in the state capital Carson City, the Republican has also proposed stiffening penalties for criminals, creating a new state office to expand school choice and repealing election reforms mandating mail-in ballots be sent to all voters. He insists all the initiatives can be accomplished without any new taxes.

One miner was killed and another injured at an underground mine in northeast Nevada. Nevada Gold Mines said The worker who was injured in the accident in Eureka County on Monday was treated at an area hospital and released. No names have been released. The Mine Safety and Health Administration said Tuesday the accident involved hand tools at the Goldstrike Underground operation, about 25 miles north of Carlin. No other details have been released. The Elko Daily Free Press reported the last hardrock mining fatality in Nevada was nearly a year ago when a truck driver was killed in a crash on Feb. 14 at NGM’s Cortez Underground Mine

Asian stock markets are mixed amid hopes Western economies can avoid a recession despite higher interest rates to cool inflation. Hong Kong and Seoul advanced. Tokyo declined. Oil prices edged higher. Markets in China, India and Australia were closed for holidays. Wall Street ended little changed after recovering from a slump early in the day. Investors are optimistic the United States and European economies can avoid a recession despite warnings by Federal Reserve and other central bank officials that rate hikes to cool economic growth and inflation will stay in place for an extended period. Investors worry that corporate profits are set to shrink broadly because of slowing economies, higher interest rates and still-high inflation.

An Alabama beverage company plans to invest $130 million and create more than 100 jobs in South Carolina’s Spartanburg County. Milo’s Tea Company, headquartered in Bessemer, Alabama, will open a new brewing and bottling operation in Moore, South Carolina. Spartanburg County Councilman David Britt announced the plan Monday during a County Council meeting. The Herald-Journal reports the facility would be the company’s fourth plant in the U.S. Britt says the company will build a 110,000-square-foot plant to accommodate brewing and bottling operations. Gov. Henry McMaster said Tuesday that operations are expected to be online by the end of 2024.

In Oregon, mass timber is increasingly being viewed as a construction material that could help the state build more affordable homes and revive rural logging towns. Mass timber is made from wood products that are fastened together to make large panels or beams. A new prototype of a affordable mass timber housing unit was unveiled at the Port of Portland on Friday. The Oregon Mass Timber Coalition aims to open a factory at the port that could mass produce homes. The coalition says the increase in production would help alleviate the state’s housing shortage. Some environmental groups say the material could lead to deforestation.

In 2022, 48% of Medicare beneficiaries were enrolled in Medicare Advantage plans instead of original Medicare, and experts predict the number will be higher in 2023. Medicare Advantage plans are offered by private insurers and bundle Medicare benefits in a way many people find appealing — but they also limit care to network providers, often require preapproval to see specialists and can saddle beneficiaries with high out-of-pocket costs for serious conditions. From low premiums to flashy ads to extra benefits, here are five reasons older adults choose Medicare Advantage despite its disadvantages.

Tesla CEO Elon Musk’s impulsive and sometimes inflammatory usage of Twitter has taken center stage in a trial focused on whether he misled investors with his 2018 tweets indicating he had lined up financing to take the electric automaker private, a proposal that rapidly unraveled. The spotlight on Musk’s tweeting habits came a day after the 51-year-old billionaire completed three days of defiant testimony in which he told a nine-member jury why he believed he could have pulled off a potential Tesla buyout that he tweeted about in 2018. Musk posted the tweets that got him into trouble a few weeks after investors urged him to stay off Twitter.

For six years, farmer Pravinbhai Parmar in west India has been using solar power for irrigation. He also sells the excess electricity to his state’s grid to earn additional income. Gujarat state has strongly pivoted from coal to renewable energy in the last decade, with clean energy sources providing nearly a third of the state’s electricity needs. But nationwide, fossil fuels, particularly coal, generate more than 70% of India’s electricity and has been doing so for years. Renewable energy contributes close to 10% of India’s electricity needs. Energy analysts say while it’s encouraging that renewables share in India’s electricity generation is gradually increasing, removing policy and practical roadblocks can make the transition away from dirty fuels pick up pace.

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