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Chinese President Xi Jinping, center, and Indonesia’s President Prabowo Subianto attend a welcome ceremony at the Great Hall of the People in Beijing, China, on Saturday.

Florence Lo | Pool Photo via AP

Tesla vehicles line a parking lot at the company’s Fremont, Calif., factory, on Sept. 18, 2023.

AP File Photo

Newly inaugurated Indonesian President Subianto visits China in first overseas trip

BEIJING — Indonesian President Prabowo Subianto has pledged to maintain close ties with China during a meeting with Chinese leader Xi Jinping in Beijing, his first overseas stop since he took office three weeks ago. Subianto is seeking to strengthen relations with China, Indonesia’s largest trading partner. Saturday’s visit to Beijing is Subianto’s second this year, following a visit in April as president-elect after winning the Indonesian presidential election in February. Subianto is scheduled to visit four other nations, including the U.S. and the U.K., suggesting that Indonesia will continue its longstanding stance of neutrality between Beijing and Washington.

Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty

WASHINGTON — The Federal Reserve cut its key rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week. The rate cut follows a larger half-point reduction in September, and it reflects the Fed’s renewed focus on supporting the job market as well as fighting inflation, which now barely exceeds the central bank’s 2% target. Annual inflation has since fallen from a 9.1% peak in 2022 to a 3 1/2-year low of 2.4%. Asked how Trump’s election might affect the Fed’s policymaking, Chair Jerome Powell said that “in the near term, the election will have no effects on our [interest rate] decisions.”

US agency says Tesla’s public statements imply that its vehicles can drive themselves; They can’t

DETROIT — The U.S. government’s highway safety agency says Tesla is telling drivers in public statements that its vehicles can drive themselves. That conflicts with owners manuals that say the vehicles need human supervision. The National Highway Traffic Safety Administration is asking the company to make sure its messages are consistent with instructions to drivers. The request came in a May email to the company. It was attached to a letter seeking information on a probe into crashes involving Tesla’s “Full Self-Driving” system in low-visibility conditions. The letter was posted Friday on the agency’s website. A message was left seeking comment from Tesla.

Restaurants, other services still in grip of high inflation even as overall rate slows

NEW YORK — While prices for most goods have been falling throughout the year, inflation for a wide range of services remains high. That’s straining consumers eating out, servicing their cars and paying for various kinds of insurance. Prices for services rose 3.7% in September from a year ago, according to the personal consumption expenditures price index.

Arizona regulators fine natural gas utility $2 million over defective piping

PHOENIX — A natural gas utility that serves more than 2 million customers in Arizona, Nevada and parts of California is being fined $2 million by regulators in Arizona. The Arizona Corporation Commission on Friday announced it reached a consent agreement with Southwest Gas that includes the civil penalty and requires more inspections. At issue is a kind of piping that can degrade in hot areas. Arizona investigators have concluded that Southwest Gas failed to properly map where such piping was installed. Southwest Gas estimates there are more than 10,000 miles of it throughout Arizona. The utility says it has a plan to target high-risk areas for replacement or abandonment.