• In this Dec. 16, 2015, file photo, Puerto Rico Gov. Alejandro Javier Garcia Padilla speaks at a luncheon at the National Press Club in Washington. Garcia said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Sait Serkan Gurbuz, File)

    Puerto Rico won’t make $370 million in debt payments Monday

    SAN JUAN, Puerto Rico (AP) — A spiraling Puerto Rico debt crisis reached a new milestone as the island missed nearly $370 million on a bond payment Monday and officials warned of worse to come if the U.S. Congress doesn’t help it dig out from a mountain of debt.

  • In this Dec. 16, 2015, file photo, Puerto Rico Gov. Alejandro Javier Garcia Padilla speaks at a luncheon at the National Press Club in Washington. Garcia said on Sunday, May 1, 2016, that negotiators for the U.S. territory’s government have failed to reach a last-minute deal to avoid a third default and that he has issued an executive order to withhold payment. (AP Photo/Sait Serkan Gurbuz, File)

    Puerto Rico won’t make $370 million in debt payments Monday

    SAN JUAN, Puerto Rico (AP) — Gov. Alejandro Garcia Padilla announced that Puerto Rico’s government will not make nearly $370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory’s spiraling public debt crisis.

  • Nissan recalls nearly 4 million cars with air bag problems

    NEW YORK (AP) — Nearly 4 million Nissan cars are being recalled due to major safety problems where passenger air bags or seat belts could fail in a crash, leading to serious injuries or fatalities.

  • Berkshire Hathaway Chairman and CEO Warren Buffett tours the exhibit floor before presiding over the annual shareholders meeting Saturday, April 30, 2016, in Omaha, Neb. (AP Photo/Charlie Riedel)

    Berkshire Hathaway event celebrates what makes firm special

    OMAHA, Neb. (AP) — Berkshire Hathaway’s peculiarities were on display again this weekend with tens of thousands of people filling an arena to listen to Warren Buffett and Charlie Munger talk business for hours at the conglomerate’s annual meeting.

  • Red Bulls acquired defender Aurelien Collin from Orlando FC

    HARRISON, N.J. (AP) — The New York Red Bulls have acquired veteran center back Aurelien Collin from Orlando City SC in exchange for a conditional fourth-round pick in the 2017 MLS SuperDraft.

  • In this Monday, Feb. 8, 2016, file photo, gas prices are displayed at a Chevron gas station in Sacramento, Calif. Chevron reports financial results Friday, April 29, 2016. (AP Photo/Rich Pedroncelli, File)

    Exxon sees smallest profit in 16 years, Chevron posts loss

    DALLAS (AP) — Motorists are saving billions on cheaper gasoline, but the long slump in oil prices is taking a heavy toll on companies that find and produce crude.

  • Correction: Abbott-St Jude Acquisition story

    In a story April 28 about an Abbott Laboratories plan to buy St. Jude Medical, The Associated Press reported erroneously the deal’s value. Abbott Laboratories will spend $25 billion to buy St. Jude Medical, not $19.3 billion.

  • This May 11, 2007 file photo shows a Wall Street sign in front of the flag-draped facade of the New York Stock Exchange. Global stock markets mostly fell Friday, April 29, 2016,  after Wall Street slid and Japan's central bank surprised markets by putting off possible additional stimulus. (AP Photo/Richard Drew, File)

    US stocks skid on weak health care results; Europe slumps

    NEW YORK (AP) — U.S. stocks fell Friday as health care and technology companies continued to report weak first-quarter results, but thanks to some late buying, they managed to avoid major losses.

  • This Jan. 30, 2012, file photo, shows the sign for the Exxon Mobil Torrance Refinery in Torrance, Calif. Exxon Mobil Corp. reports financial results Friday, April 29, 2016. (AP Photo/Reed Saxon, File)

    Exxon’s 1Q profit plunges 63 percent on lower oil prices

    DALLAS (AP) — Exxon Mobil produced its weakest quarter in more than 16 years as lower oil prices pushed its profit down by 63 percent.

  • Microsoft’s 3Q earnings grow 31 pct; stock falls

    In this Jan. 5, 2011 file photo, Microsoft chief executive officer Steve Ballmer gives his Keynote speech for the Consumer Electronics Show, in Las Vegas. Microsoft reports quarterly earnings Thursday, April 28, 2011, after the market close.(AP Photo/Julie Jacobson, file)

    Microsoft Corp.’s latest quarterly earnings rose 31 percent even as sales of its Windows operating system sagged.