Latest Economy News

Stocks edge mostly higher, still on pace for weekly losses

Jul. 01, 2022 14:14 PM EDT

Stocks edged mostly higher on Wall Street in afternoon trading Friday, regaining some ground after a downbeat start, though the major indexes were still on pace to finish in the red for the week. The S&P 500 rose 0.3% as of 2:03 p.m. Eastern. The benchmark index had been down...

Tunisian president seeks more powers in new constitution

Jul. 01, 2022 13:47 PM EDT

TUNIS, Tunisia (AP) — Tunisian President Kais Saied on Friday unveiled a new draft constitution that would bestow broad powers on the president and curtail the authority of the prime minister and parliament. A referendum on the constitution is scheduled for July 25, exactly a year...

Puerto Rico board approves budget as legislators quibble

Jul. 01, 2022 13:31 PM EDT

SAN JUAN, Puerto Rico (AP) — The federal control board that oversees the finances of Puerto Rico’s government approved a $12.4 billion general fund budget Thursday for the U.S. territory after legislators failed to approve one amid intense bickering. The board’s version of the...

Bulgarian finance chief gets mandate as Russia tensions soar

Jul. 01, 2022 12:12 PM EDT

SOFIA, Bulgaria (AP) — Bulgaria's president on Friday handed the mandate to try and form a new government to the country's finance minister, four days after pro-Western reformist Kiril Petkov resigned following a no-confidence vote in Parliament. Asen Vassilev, from Petkov's We...

New Zealand leader makes 1st trip to UK since trade deal

Jul. 01, 2022 11:49 AM EDT

LONDON (AP) — New Zealand Prime Minister Jacinda Ardern on Friday made her first visit to the U.K. since both countries signed a free trade agreement, meeting with British Prime Minister Boris Johnson to boost bilateral ties and discuss Russia's war in Ukraine. The trip came after...

Kohl's sale falls apart in shaky retail environment

Jul. 01, 2022 10:25 AM EDT

SILVER SPRING, Md. (AP) — The potential sale of the Kohl's department store chain has fallen apart in a shaky retail environment of rising inflation and consumer anxiety. Kohl's entered exclusive talks early this month with Franchise Group, the owner of Vitamin Shop and other...

Inflation hits record 8.6% for 19 countries using the euro

Jul. 01, 2022 07:02 AM EDT

LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone's 19 countries hit 8.6% in June, surging past the 8.1% recorded in May,...

French airport workers strike for higher pay amid inflation

Jul. 01, 2022 06:54 AM EDT

PARIS (AP) — Flights from Charles de Gaulle Airport in Paris and other French airports faced disruptions Friday as airport workers held a strike to demand salary hikes to keep up with inflation and an urgent hiring push to deal with resurgent travel demand. The labor action is the...

Inflation in the 19 countries using the euro hits record 8.6% as energy costs keep surging amid Russia's war in Ukraine

Jul. 01, 2022 05:04 AM EDT
BRUSSELS (AP) — Inflation in the 19 countries using the euro hits record 8.6% as energy costs keep surging amid Russia's war in Ukraine.

After two pandemic years, a summer travel bounce — and chaos

Jul. 01, 2022 04:44 AM EDT

JERUSALEM (AP) — At a tourism conference in Phuket last month, Thailand’s prime minister looked out at attendees and posed a question with a predictable answer. “Are you ready?” Prayuth Chan-ocha asked, dramatically removing his mask and launching what's hoped to be the...