AP Business SummaryBrief at 6:32 p.m. EST

Inflation runs hotter than expected as higher prices extend beyond the gas station WASHINGTON (AP) — U.S. inflation was higher than expected last month in a sign that the rising prices that powered sweeping Democratic victories in last week’s midterm elections will continue to pose challenges for the White House and Federal Reserve. The data shows that inflation remains noticeably above the Federal Reserve’s target of 2%, and Americans’ struggles with high prices were evident as they ousted Republican majorities from the House and Senate last week. Nvidia and Jensen Huang face shareholder lawsuit alleging investors were misled about spy affair A shareholder has sued Nvidia and CEO Jensen Huang, accusing them of deceiving investors about Huang's affair with a purported Chinese spy. The lawsuit, filed Monday, claims the affair threatens national security. President Donald Trump said the FBI is investigating the matter, which Huang has admitted to and apologized for. Concerns have arisen that Beijing may be using the affair to access Nvidia microchips, crucial for AI development but restricted from export to China. The complaint, filed in California, alleges Nvidia misled investors about the affair's impact. Nvidia did not immediately comment. Shares fell about 5.5% on Tuesday. Alleged spy plot targeting CEO Jensen Huang raises questions about Nvidia's future SAN FRANCISCO (AP) — Investigations into whether Nvidia’s CEO was targeted by a Chinese intelligence effort are raising questions about the future of the chipmaker. Nvidia became one of the world’s most valuable companies by providing technology that powered the artificial intelligence boom. Jensen Huang has been synonymous with the brand since he co-founded it more than 30 years ago. The company now faces potential damage to its reputation and stock price, uncertainty over a possible successor and new scrutiny from shareholders and elected officials. With a valuation of more than $4 trillion, the company has outsized importance on Wall Street. Trump nominates Justice Department official to an EEOC seat that was left open by Democrat's firing NEW YORK (AP) — President Donald Trump has nominated a Justice Department official to an open seat on the Equal Employment Opportunity Commission, signaling the administration's intention to forge ahead with its legal campaign against diversity and inclusion policies. The White House tapped Matt Zandi to fill a seat previously held by Jocelyn Samuels, one of two Democratic commissioners fired by Trump before the end of their terms. Zandi currently serves as chief of staff for the Justice Department’s Civil Rights Division, which has worked closely with the EEOC to investigate and penalize companies for diversity and inclusion policies that allegedly discriminate against white workers and others. What we know — and what we don't — as Nvidia investigates an alleged spy plot involving its CEO Stunning allegations of a spy plot have prompted investigations of Nvidia CEO Jensen Huang’s affair with a purported Chinese government agent. Huang admitted to having an extramarital affair, and acknowledged that news reports surrounding the relationship and potential national security concerns led Nvidia’s board to investigate. He did not name the person he had been intimate with, but The New York Times identified her as business executive and Chinese citizen Alice Huang — who, the outlet said, U.S. intelligence determined was gathering information for Beijing. China’s Foreign Ministry dismissed the spying allegations. Many questions remain unanswered, but the scandal is already bringing turmoil. Nonprofit local news isn't free! It takes reporters, editors, and resources to do this work right. Your donation keeps that work alive. MAKE YOUR DONATION TODAY Internal probe into CEO Jensen Huang and 'foreign intelligence' weighs on high-flying Nvidia shares Shares of Nvidia are down 4.3%  after the computer chip maker, central to the artificial intelligence race, opened an investigation into reports that CEO Jensen Huang was the “target of a foreign intelligence effort.” Nvidia’s announcement of the investigation Sunday followed Huang’s acknowledgment that he had been intimate with a business executive who, according to The New York Times, U.S. intelligence determined was gathering information for China. China’s Foreign Ministry dismissed the spying allegations, calling them a smear campaign against Beijing. Appeals court limits order for LinkedIn to disclose journalists' communications in leak probe WASHINGTON (AP) — A federal judge must narrow an order requiring LinkedIn to divulge journalists’ communications on the social media platform to the Trump administration for a leak investigation. Tuesday's ruling by a panel from the 4th U.S. Circuit Court of Appeals says the government isn’t entitled to a “blanket” order for LinkedIn to disclose a broad array of user records belonging to the journalists. But the three-judge panel concluded that the journalists’ First Amendment rights must be balanced against the administration’s duty to protect natural security information. The journalists' employer isn’t identified in court records. A district judge in Virginia issued the order that LinkedIn challenged. Poultry in motion: The ubiquitous Buffalo wing, as assessed by a local who loves 'em BUFFALO, N.Y. (AP) — You know the old saying: You can take the wing out of Buffalo, but you can’t take the Buffalo out of the wing. Ok, fine, that’s not a saying. But it’s true that Buffalo chicken wings are so ubiquitous that people forget where they came from — unless you’re from Buffalo. Yes, you can find them everywhere: your local pub, chains like Wing Stop or Buffalo Wild Wings, the frozen food aisle of the supermarket. Then there are the offshoots: Buffalo-flavored potato chips, peanuts and pretzels. There’s Buffalo ranch salad dressing, Buffalo mac-and-cheese, Buffalo casseroles. But if you want the real deal, you have to go to its birthplace. US stocks slip following a discouraging update on inflation NEW YORK (AP) — The U.S. stock market dipped after a report showed inflation was worse across the country last month than economists expected. The S&P 500 slipped 0.4% Tuesday. The Dow Jones Industrial Average dropped 0.3%, and the Nasdaq composite sank 0.7%. The discouraging report on inflation caused traders to up their forecasts for coming hikes to interest rates by the Federal Reserve. One top Fed official even suggested that it could raise its main interest rate by twice the typical amount at its meeting next month. That caused Treasury yields to jump in the bond market even though oil prices fell again. Press Forward completes nearly $600M in journalism investments about 2 years early Press Forward has completed investing nearly $600 million to strengthen local news outlets, two years ahead of schedule. Executive Director Dale Anglin says the work is far from complete, as the industry undergoes significant transformation. According to Northwestern University, news deserts have grown by 12% this year. Press Forward has 144 funders and 50 local chapters, which have raised and invested another $87 million to bolster journalism. Press Forward Chicago has seen promise in pooled funds to support specific initiatives. Knight Foundation CEO Maribel Perez Wadsworth emphasizes that local funding is essential for sustainable growth. Donate now to support local nonprofit news in Lancaster County Newsletter Success! An email has been sent to with a link to confirm list signup. Error! 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