Latest Economy News

Voices of Iranians ahead of the presidential election

Jun. 14, 2021 02:13 AM EDT

TEHRAN, Iran (AP) — Iranians this week are preparing to vote in — or perhaps to boycott — a presidential election that many fear will only underscore their powerlessness to shape the country's fate. Hopefuls are running to replace the term-limited President Hassan...

This Week: Retail sales, Fed policy update, Kroger earns

Jun. 14, 2021 01:15 AM EDT

A look at some of the key business events and economic indicators upcoming this week: SIZING UP RETAIL SALES The Commerce Department issues its May tally of U.S. retail sales Tuesday. Economists predict sales fell a seasonally...

Odds of settling US-EU trade rifts? Hope may outrun progress

Jun. 14, 2021 00:19 AM EDT

WASHINGTON (AP) — President Joe Biden has vowed to mend America’s trade relations with its European allies, which were stretched to the breaking point by President Donald Trump’s mercurial behavior, combative policies and aversion to multinational alliances. Yet...

Lebanon's currency reaches new low as crisis deepens

Jun. 13, 2021 22:39 PM EDT

BEIRUT (AP) — Lebanon’s currency hit a new low on Sunday, as the country's economic and political crisis worsened with no apparent solutions in the near future. The currency has lost more than 90% of its value since October 2019, when anti-government protests erupted....

The Latest: Biden arrives in Belgium ahead of NATO summit

Jun. 13, 2021 15:27 PM EDT

The Latest on the Group of Seven nations meeting being held in England: BRUSSELS — President Joe Biden has arrived in the capital of Belgium for the upcoming NATO summit, wearing a mask because of the coronavirus as an honor guard and trumpeters greeted him. ...

From vaccine sharing to climate, G-7 talks yield agreements

Jun. 13, 2021 12:45 PM EDT

FALMOUTH, England (AP) — The Group of Seven wealthy democracies have wrapped up their first face-to-face summit in two years at a seaside resort in southwest England. The leaders of the G-7 — Canada, France, Germany, Italy, Japan, the United Kingdom and the United States — made...

Gorilla tactics: Berlin delivery riders take on $1B startup

Jun. 13, 2021 03:42 AM EDT

BERLIN (AP) — Dozens of workers gathered outside of one of Berlin's most-celebrated startups, the grocery delivery company Gorillas, to protest the firing hours earlier of a colleague. “We want Santiago back!” the young riders chanted last week, threatening to...

Cigar company wants to bring Cuban tobacco back to Tampa

Jun. 13, 2021 03:09 AM EDT

TAMPA, Fla. (AP) — The J.C. Newman Cigar Company claims to have the nation’s last bale of Cuban tobacco. Purchased just prior to the U.S. government cutting off all business relations with the socialist nation in 1962, the Newman family now stores it in their Ybor...

Biden urges G-7 leaders to call out and compete with China

Jun. 12, 2021 21:30 PM EDT

CARBIS BAY, England (AP) — Leaders of the world's largest economies unveiled an infrastructure plan Saturday for the developing world to compete with China’s global initiatives, but they were searching for a consensus on how to forcefully to call out Beijing over human rights abuses. ...

The Latest: WHO chief says vaccine need outstrips G7 pledges

Jun. 12, 2021 15:25 PM EDT

The Latest on the Group of Seven nations meeting being held in England: FALMOUTH, England — The head of the World Health Organization has welcomed the vaccine-sharing announcements coming out of the Group of Seven summit but says “we need more, and we need them...