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Apple beats out earnings estimates with continued iPhone momentum

Apple posted strong results for its quarterly earnings on Thursday, but investors’ attention is also focused on the upcoming CEO change and the tech firm’s artificial intelligence strategy. The January-March results announced Thursday reflect the continued momentum of iPhone sales. CEO Tim Cook said in a statement that it was the company’s best March quarter ever. The company earned $29.58 billion, or $2.01 per share, in the January-March period, up about 22% from the same period a year earlier. Revenue rose about 17% to $111.18 billion from $95.36 billion a year earlier. ...

WASHINGTON (AP) — Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump administration have put the independence of the nation’s central bank at risk. “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Powell said in remarks at a press conference after the Fed announced its decision to keep its benchmark interest rate unchanged. Powell’s ...

GM expects a $500 million tariff refund from Trump levies the Supreme Court struck down

NEW YORK (AP) — General Motors is expecting a $500 million tariff refund after the Supreme Court struck down some of President Donald Trump’s most sweeping levies. That’s boosted the Detroit auto maker’s outlook for 2026. On Tuesday, GM said it’s now looking to rake in $13.5 billion to $15.5 billion in earnings before interest and taxes this year — up from previous forecasts of $13 billion to $15 billion. The refund is set to ease the company’s total tariff expenses some. GM anticipates paying $2.5 billion to $3.5 billion in tariff costs for 2026, the company said ...

BP’s profit more than doubles as US gas prices hit multiyear highs

BP’s profit more than doubled in the first quarter as the war in Iran drove energy prices sharply higher. On the same day that the British energy giant reported a banner financial performance, gasoline prices in the U.S. hit new multiyear highs, a point of increasing agitation for travelers, households and also businesses that are particularly sensitive to higher energy prices, such as airlines. The near closure of the Strait of Hormuz off the coast of Iran is a flashpoint in the war and the source of much of the economic pain being felt globally. The Trump administration appeared ...

Elon Musk and OpenAI CEO Sam Altman head to court in high-stakes showdown over AI

OAKLAND, Calif. (AP) — Technology tycoons Elon Musk and Sam Altman are poised to face off in a high-stakes trial revolving around the alleged betrayal, deceit and unbridled ambition that blurred the bickering billionaires’ once-shared vision for the development of artificial intelligence. The trial, which started Monday with jury selection, centers on the 2015 birth of ChatGPT maker OpenAI as a nonprofit startup primarily funded by Musk before evolving into a capitalistic venture now valued at $852 billion. The trial’s outcome could sway the balance of power in AI — ...

Earnings report

Farmers National Bancorp Farmers National Banc Corp., headquartered in Canfield, reported on Wednesday net income of $16.3 million, or $0.36 per diluted share, for the first quarter of 2026 compared to $13.6 million, or $0.36 per diluted share, for the first quarter of 2025. Net income in the first quarter of 2026 included $4 million related to the acquisition of Middlefield Banc Corp. and core conversion costs. Excluding these items, adjusted net income for the first quarter of 2026 was $20 million, or $0.45 per diluted share. Farmers has reported 173 consecutive quarters of ...