Longtime Apple executive Phil Schiller has acknowledged a court-ordered makeover of the U.S. payment system in its iPhone app store hasn't done much to increase competition — a shortcoming that could result in a federal judge demanding more changes.

Schiller, who has been overseeing the iPhone app store since its inception in 2008, made the admission during occasionally sheepish testimony about the new payment options that so far have been shunned by all but a few dozen apps since their introduction in January.

The European Commission has imposed a fine of 337.5 million euros ($366 million) on food company Mondelez, the owner of Oreo cookies and other snack brands, for obstructing sales of its products between EU member states, the bloc's executive arm said on Thursday.

Mondelez owns the Cadbury and Toblerone chocolate brands as well as Oreo and Chips Ahoy cookies, Triscuit crackers and Perfect Snacks nutrition bars.

Poverty in Lebanon tripled over the course of a decade during which the small country slid into a protracted financial crisis, the World Bank said Thursday.

The percentage of people in Lebanon living below the poverty line rose from 12% in 2012 to 44% in 2022, the bank said in a report based on surveys conducted in five of the country's eight governorates.

Lebanon's reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund said Thursday.

Head of the IMF mission visiting Lebanon Ernesto Ramirez Rigo, said in a statement that Lebanon's ongoing refugee crisis, clashes with Israel at its southern border and the spillover from the war in Gaza are exacerbating an already weak economic situation.

Markets on Wall Street were mixed early Wednesday but remain at or above record levels as more results from retailers take center stage amid a dearth of economic news.

Futures for the Dow Jones Industrial Average just barely edged into positive territory, rising less than 0.1% before the bell, while futures for the S&P 500 were down 0.1%.

Cars, trucks and SUVs in the U.S. keep getting older, hitting a record average age of 12.6 years in 2024 as people hang on to their vehicles largely because new ones cost so much.

S&P Global Mobility, which tracks state vehicle registration data nationwide, said Wednesday that the average vehicle age grew about two months from last year's record.

Global nickel prices have soared since deadly violence erupted in the French Pacific territory of New Caledonia last week.

The overseas territory, which has been under French rule for over 170 years, is a major global producer of the critical material that is needed to make electric vehicle batteries, solar panels, steel and other everyday items.

Global shares retreated Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia.

France's CAC 40 lost 0.7% in early trading to 8,137.16, while Germany's DAX declined 0.3% to 18,704.35. Britain's FTSE 100 fell nearly 0.4% to 8,393.84.

As president, Donald Trump imposed a 25% tariff on foreign steel, which hurt Clips & Clamps Industries, a Michigan auto supplier — raising its materials prices, making it harder to compete with overseas rivals and costing it several contracts.

Jeff Aznavorian, the company president, thought he might enjoy some relief once Joe Biden entered the White House. Instead, Biden largely preserved Trump's tariffs — on steel, aluminum and a mass of goods from China.

Saudi Arabia's national airline ordered more than 100 new Airbus jets, a reflection of the kingdom's ambitious drive to lure more tourists.

Saudia Group, which represents the Saudia airline and its budget carrier Flyadeal, said Monday that it ordered 105 aircraft from the French aerospace company's A320neo family of jets, including 12 A320neos and 93 A321neos. That brings Saudia Group's Airbus aircraft order backlog to 144 of the A320neo family planes.