Latest Economy News

Turkey's victorious Erdogan set to assume sweeping powers

Jun. 25, 2018 3:33 AM EDT

ANKARA, Turkey (AP) — Recep Tayyip Erdogan, who has dominated Turkish politics for the past 15 years, was set on Monday to extend his rule with sweeping new powers after winning landmark presidential and parliamentary elections. Turkey's High Electoral Board declared Erdogan, 64, the winner of Sunday's...

Asian stocks fall, oil gives up some gains after China move

Jun. 25, 2018 1:45 AM EDT

BEIJING (AP) — Asian stock markets fell Monday and oil prices gave up some of their gains after Chinese regulators freed up extra money for bank lending amid a trade dispute with Washington. KEEPING SCORE: The Shanghai Composite Index fell 0.2 percent to 2,883.20 and Tokyo's Nikkei 225 lost 0.5 percent to...

In Texas, Trump's steel tariff stirs uncertainty and concern

Jun. 25, 2018 1:13 AM EDT

BAYTOWN, Texas (AP) — Joel Johnson examines the shipping labels on 35-ton coils of American-made steel that will be unspooled, bent and welded into rounded sections of pipe. One's from Nucor, a mill in Arkansas. Another's from Steel Dynamics in Mississippi. But much harder to spot in the sprawling factory...

AP FACT CHECK: Trump's mixed signals on immigration, NKorea

Jun. 25, 2018 12:35 AM EDT

WASHINGTON (AP) — President Donald Trump is making broad generalizations about people who arrive illegally in the United States, casting them all as violent criminals when statistics say otherwise. He's also suggesting that a newly signed executive order would solve the problem of family separations at the...

China regulators free up extra $100B for bank lending

Jun. 25, 2018 12:32 AM EDT

BEIJING (AP) — Chinese regulators have freed up an extra $100 billion for bank lending in a move financial analysts said could help to reassure investors amid trade tensions with Washington. The reduction on Sunday in reserves banks are required to hold was part of a series of such cuts economists had...

Asian stocks fall, oil gives up some gains after China move

Jun. 24, 2018 11:53 PM EDT

BEIJING (AP) — Asian stock markets fell Monday and oil prices gave up some of their gains after Chinese regulators freed up extra money for bank lending amid a trade dispute with Washington. KEEPING SCORE: Tokyo's Nikkei 225 fell 0.5 percent to 22,404.53 and Hong Kong's Hang Seng lost 0.5 percent to...

Trump lobs new threats against countries trading with the US

Jun. 24, 2018 6:08 PM EDT

WASHINGTON (AP) — President Donald Trump is lobbing new threats against U.S. trade partners. Trump says Sunday on Twitter that the U.S. is "insisting" that countries remove "artificial" trade barriers and tariffs on U.S. imports to their countries "or be met with more than Reciprocity by the U.S.A." He...

Oil, gas production rises in Oklahoma, workforce declines

Jun. 24, 2018 1:25 PM EDT

OKLAHOMA CITY (AP) — An economist at the Oklahoma City branch of the Federal Reserve Bank of Kansas City says oil and gas production is increasing but with fewer employees. Chad Wilkerson writes in the Oklahoma Economist that increased production is due to improved technology, which has also led to fewer...

US imported more seafood in 2017 than any prior year

Jun. 24, 2018 10:21 AM EDT

PORTLAND, Maine (AP) — The United States imported more seafood last year than at any point in its history, and the nation's trade deficit in the sector is growing, federal data show. The U.S. imported more than 6 billion pounds of seafood valued at more than $21.5 billion in 2017, according to data from...

UK euroskeptics urge PM May to prepare for 'no deal' Brexit

Jun. 24, 2018 8:02 AM EDT

LONDON (AP) — Pro-Brexit politicians and business figures have urged British Prime Minister Theresa May to be ready to walk away from the European Union without a trade agreement, despite warnings from major manufacturers that a "no deal" Brexit would be an economic disaster. In an open letter, 60...