Global Glance: Berkshire buys Apple shares, Germans sue European Central Bank

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Here are today’s top business headlines from across the nation and world:

Apple’s latest innovation … a big share for Berkshire

OMAHA, Neb. (AP) — Investors might question Warren Buffett’s long-standing aversion to tech stocks after his Berkshire Hathaway bought 9.8 million shares of Apple. The stake comes with the company’s shares under considerable pressure. Billions in value have been wiped from the books since Apple reported a sizable drop in iPhone sales in late April. Read more


Germans sue European Central Bank over stimulus

FRANKFURT, Germany (AP) — German opponents of the European Central Bank’s latest economic stimulus program have filed a legal challenge in an attempt to bar their national central bank from taking part. The complaint in the Federal Constitutional Court aims to keep the Bundesbank from taking part in the ECB’s upcoming purchases of bonds issued by corporations, a measure that pumps newly created money into the economy to lower borrowing costs. Read more


Low-income high schoolers to get grants for college courses

WASHINGTON (AP) — For the first time, thousands of low-income high-school students in nearly two dozen states will soon be able to get federal grants to take college courses for credit, part of a program the Obama administration plans to begin this summer. The experimental program allows high school students to apply for federal Pell grant money to pay for college courses. Read more


US consumer prices post 0.4 percent April increase

WASHINGTON (AP) — U.S. consumer prices jumped in April by the largest amount in more than three years, reflecting a surge in the price of gasoline and other energy products. But outside of volatile food and energy, core inflation posted another modest gain. The Labor Department says overall consumer prices rose 0.4 percent in April after a 0.1 percent increase in March. It was the largest one-month advance since a 0.6 percent increase in February 2013. Read more


Nigeria oil output, Naira slump — attack and strike threats

LAGOS, Nigeria (AP) — Militant attacks on oil installations and a threatened nationwide strike are driving Nigeria’s petroleum production and its naira currency to new lows. Angola has become Africa’s biggest oil producer as Nigeria’s output slumped to 1.4 million barrels a day, Oil Minister Ibe Kachikwu said Monday, endangering a budget based on production of 2.2 million barrels. Read more


US builders increase home construction in April

WASHINGTON (AP) — Builders ramped up construction of new homes in April, suggesting that the market remains solid despite sluggish economic growth at the beginning of the year. Housing starts climbed 6.6 percent to a seasonally adjusted annual rate of 1.17 million units, the Commerce Department said Tuesday. Read more

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