Latest Economy News

Oil pipeline planned even as California moves away from gas

Dec. 01, 2021 00:06 AM EST

LOS ANGELES (AP) — A proposal to replace an oil pipeline that was shut down in 2015 after causing California's worst coastal spill in 25 years is inching though a government review, even as the state moves toward banning gas-powered vehicles and oil drilling. ...

Asian shares mixed after omicron worries rattle Wall Street

Nov. 30, 2021 22:56 PM EST

TOKYO (AP) — Asian shares were mixed Wednesday amid nervous trading due to worries over the newest coronavirus variant. Japan's benchmark Nikkei 225 was up 0.8% in morning trading to 28,062.99, after gyrating earlier in the session. South Korea's Kospi jumped 1.1% to...

India's economy grows by 8.4% amid signs of recovery

Nov. 30, 2021 22:30 PM EST

NEW DELHI (AP) — India's economy grew at an 8.4% annual pace in the July-September quarter in the latest sign of an economic recovery in Asia’s third-largest economy, the government reported Tuesday. India suffered one of the biggest setbacks of any major economy in...

UN envoy warns of risk of new Israel-Palestinian violence

Nov. 30, 2021 20:02 PM EST

UNITED NATIONS (AP) — The U.N. Mideast envoy warned Tuesday that without quick and decisive action to address the key drivers of the Israeli-Palestinian conflict the region risks plunging into “another deadly escalation of violence.” Tor Wennesland told the U.N....

Oregon governor calls for special session to protect renters

Nov. 30, 2021 19:49 PM EST

SALEM, Ore. (AP) — With winter coming and federal funds drying up, Oregon Gov. Kate Brown said Tuesday she'll call a special session of the Legislature Dec. 13 to approve state funding for rental assistance and extend eviction protections issued because of the COVID-19 pandemic. ...

Brazil and Japan report first cases of the omicron variant

Nov. 30, 2021 19:22 PM EST

Brazil and Japan joined the rapidly widening circle of countries to report cases of the omicron variant Tuesday, while new findings indicate the mutant coronavirus was already in Europe close to a week before South Africa sounded the alarm. The Netherlands' RIVM health...

Nevada casinos match 8-month mark for $1B in house winnings

Nov. 30, 2021 18:49 PM EST

LAS VEGAS (AP) — Nevada casinos matched a record streak of eight straight months of $1 billion or more in house winnings in October, with travel, tourism and events returning to pre-pandemic levels in a state dependent on gambling revenues, according to several economic reports. ...

Troubled antipoverty group closing in Jefferson County

Nov. 30, 2021 17:25 PM EST

BIRMINGHAM, Ala. (AP) — An agency meant to help the poor in Alabama's most populous county will close amid financial problems that include being ordered to return government grant money, news outlets reported Tuesday. The Jefferson County Committee for Economic...

Hamas: Qatar paying public salaries by sending fuel to Gaza

Nov. 30, 2021 17:04 PM EST

GAZA CITY, Gaza Strip (AP) — Gaza's Hamas rulers have reached an agreement by which Qatar will resume subsidizing the salaries of public employees by sending fuel to the impoverished territory, a Hamas official said Tuesday. Qatar was contributing to the salaries of...

Powell's warning: Fed to tighten credit faster than expected

Nov. 30, 2021 16:32 PM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell took a sharp and unexpected turn Tuesday toward tightening credit for consumers and businesses in the face of mounting concerns about high inflation. Powell signaled that the Fed will likely act more quickly to phase...