Latest Economy News

Pope acknowledges abuse scandals driving people from church

Sep. 25, 2018 5:47 AM EDT

TALLINN, Estonia (AP) — Pope Francis acknowledged Tuesday that the sex abuse scandals rocking the Catholic Church were driving people away and said the church must change its ways if it wants to keep future generations. Francis referred directly to the crisis convulsing his papacy on the fourth and final...

The Latest: WTO says it will try to minimize any Brexit pain

Sep. 25, 2018 5:46 AM EDT

LONDON (AP) — The Latest on Britain's planned exit from the European Union (all times local): 10:45 a.m. The head of the World Trade Organization says the trade body will try to minimize disruption caused by Britain's exit from the European Union. Britain is due to leave the 28-nation EU in March. No deal...

Prince William visits Africa ahead of UK wildlife conference

Sep. 25, 2018 5:36 AM EDT

JOHANNESBURG (AP) — Britain's Prince William is in Africa this week to discuss threats to conservation ahead of a London conference on the illegal wildlife trade. The Duke of Cambridge was in Namibia on Tuesday and will visit Tanzania and Kenya. On Monday he met Namibian Vice President Nangolo Mbumba. The...

Global stocks mixed on US-China trade worries

Sep. 25, 2018 5:22 AM EDT

BEIJING (AP) — Global stock markets were mixed Tuesday after a Chinese envoy said Beijing cannot negotiate its trade dispute with the United States while Washington "holds a knife" of tariff hikes to its neck. KEEPING SCORE: In early trading, France's CAC 40 gained 0.2 percent to 5,486.71 while London's...

Messy domestic politics overshadow Trump's address to UN

Sep. 25, 2018 5:16 AM EDT

UNITED NATIONS (AP) — President Donald Trump charged into office on the resonance of his aggressive "America First" agenda, but now, as he returns to the pinnacle of global diplomacy, he can't escape the growing shadows of domestic political troubles. Between promoting the wisdom of his rapprochement with...

China official says talks impossible with 'US holding knife'

Sep. 25, 2018 3:28 AM EDT

BEIJING (AP) — China cannot hold talks with Washington on ending their escalating trade dispute while the United States "holds a knife" to Beijing's neck by imposing tariff hikes, a Chinese official said Tuesday. The warning came after the Chinese government released a report that accused President Donald...

World Bank report warns Gaza Strip economy is in 'free fall'

Sep. 25, 2018 3:25 AM EDT

JERUSALEM (AP) — The Gaza Strip's economy is in "free fall," a report from the World Bank warned Tuesday, calling for urgent action by Israel and the international community to avoid "immediate collapse." According to the report, Gaza's economy contracted by 6 percent in the first quarter of 2018. It said...

Trump and Macron: Realism replaces unlikely bromance

Sep. 25, 2018 2:14 AM EDT

NEW YORK (AP) — French President Emmanuel Macron and U.S. President Donald Trump aren't as chummy as they used to be. When the two men met Monday in New York, they shook hands lightly and got down to business. They agreed to disagree on Iran's nuclear program and Trump's crackdown on global trade,...

Asian stocks lower on US-China trade worries

Sep. 25, 2018 12:49 AM EDT

BEIJING (AP) — Asian stock markets were mostly lower Tuesday after a Chinese government report accusing the Trump administration of bullying other countries dampened hopes for a settlement in their escalating tariff war. KEEPING SCORE: The Shanghai Composite Index lost 0.8 percent to 2,775.91 and Sydney's...

EU, Iran set financial "vehicle" to ease trade between them

Sep. 24, 2018 11:49 PM EDT

UNITED NATIONS (AP) — Five world powers and Iran agreed late Monday to establish a financial facility in the European Union to facilitate payments for Iranian imports and exports including oil, a key move sought by Tehran following the U.S. pullout from the 2015 nuclear deal and its re-imposition of...