Latest Economy News

Administration pauses enforcement of abortion restriction

Jul. 21, 2019 10:37 PM EDT

WASHINGTON (AP) — The Trump administration is giving taxpayer-funded family planning clinics more time to comply with its new rule that says they no longer can refer women for abortions. But the clinics reacted warily to the administration's enforcement pause, and the widening rift could eventually affect...

Puerto Rico gov will not seek reelection, but won't resign

Jul. 21, 2019 10:22 PM EDT

SAN JUAN, Puerto Rico (AP) — Puerto Rico Gov. Ricardo Rosselló said Sunday evening that he will not resign in the face of public furor over an obscenity-laced leaked online chat, but he will not seek reelection or continue as head of his pro-statehood political party. Protesters said they were not...

Asian shares mostly fall, taking cue from Wall Street, Fed

Jul. 21, 2019 10:10 PM EDT

TOKYO (AP) — Asian shares were mostly lower Monday after Wall Street ended last week lower as investors continue to watch for what may be in store for U.S. interest rates. Japan's Nikkei 225 slipped 0.2% in early trading to 21,415.51. Australia's S&P/ASX 200 was little changed but a tad lower at...

Could coastal mansions become eligible for disaster aid?

Jul. 21, 2019 8:15 PM EDT

OLD SAYBROOK, Conn. (AP) — On an exclusive Connecticut peninsula, where signs warn outsiders to stay off private roads, eight multimillion-dollar homes with sprawling yards along the Long Island Sound are poised to become eligible for taxpayer-funded disaster aid. That's despite the fact that the Fenwick...

Kushner to head to Mideast to push Palestinian economic plan

Jul. 21, 2019 2:28 PM EDT

WASHINGTON (AP) — President Donald Trump's son-in-law and senior adviser, Jared Kushner, is returning to the Mideast at month's end to promote the administration's $50 billion economic support plan for the Palestinians that they've rejected because it ignores their political demands. Kushner outlined the...

Missouri and Hillsdale College in legal fight over bequest

Jul. 21, 2019 1:32 PM EDT

COLUMBIA, Mo. (AP) — A small Michigan college with well-known conservative supporters is suing the University of Missouri over a multi-million bequest designed to promote an economic theory that espouses free markets and argues the government's only role should be to defend people and property. Hillsdale...

Vermont capital development group gets new director

Jul. 21, 2019 9:21 AM EDT

MONTPELIER, Vt. (AP) — A group working to promote economic development in Vermont's capital city is getting a new leader. The Montpelier Development Corp. says 57-year-old Lisa Maxwell of Lake Worth, Florida, was chosen from among the 50 candidates who applied. She starts work in November. MDC Vice...

UK Treasury chief vows to quit if Boris Johnson becomes PM

Jul. 21, 2019 7:39 AM EDT

LONDON (AP) — British Treasury chief Philip Hammond said Sunday that he will quit if — as widely expected — Boris Johnson becomes prime minister this week on a promise to leave the European Union with or without a divorce deal. Hammond said Johnson's vow to press for a no-deal Brexit if he...

With Boris Johnson tipped to win PM race, UK eyes rocky ride

Jul. 21, 2019 2:26 AM EDT

LONDON (AP) — Britain is getting a new prime minister. Buckle up for a rocky ride. On Tuesday, the U.K.'s governing Conservatives will announce the winner of a contest to replace Theresa May as leader of the party and the country. Just over three months later, on Oct. 31, Britain is scheduled to leave the...

Iran says its seizure of British ship a 'reciprocal' move

Jul. 21, 2019 1:35 AM EDT

TEHRAN, Iran (AP) — Iran's seizure of a British oil tanker was a response to Britain's role in impounding an Iranian supertanker first, senior officials said Saturday, as newly released video of the incident showed Iranian commandos in black ski masks and fatigues rappelling from a helicopter onto the...