Latest Economy News

Mobile network phone masts are visible in front of St Paul's Cathedral in the City of London, Tuesday, Jan. 28, 2020.The Chinese tech firm Huawei has been designated a

In snub to US, Britain will allow Huawei in 5G networks

Jan. 28, 2020 11:19 AM EST

LONDON (AP) — Britain decided Tuesday to allow Chinese tech giant Huawei to supply new high-speed network equipment, ignoring the U.S. government's warnings that it would sever intelligence cooperation if the company was not banned. Britain's decision is the first by a major U.S. ally in Europe, and...

Trader Michael Milano works on the floor of the New York Stock Exchange, Tuesday, Jan. 28, 2020. Stocks are opening broadly higher on Wall Street a day after the S&P 500 had its biggest drop since early October. Technology companies were putting up some of the biggest gains early Tuesday. (AP Photo/Richard Drew)

Stocks move higher on Wall Street a day after a big drop

Jan. 28, 2020 11:08 AM EST

NEW YORK (AP) — U.S. stocks are rising in morning trading Tuesday as investors shifted money into technology companies following a broad sell-off a day earlier over fears that the spread of a deadly virus in China could affect the global economy. Global markets were spooked on Monday by a sharp rise in...

FILE - This Jan. 9, 2020, file photo shows a sold sign is posted on a real estate sign outside a home in Derry, N.H. On Tuesday, Jan. 28, 2020, the Standard & Poor's/Case-Shiller 20-city home price index for November is released. (AP Photo/Charles Krupa, File)

US home price gains accelerate amid smaller supply of homes

Jan. 28, 2020 10:38 AM EST

WASHINGTON (AP) — U.S. home prices rose at a faster pace in November than the previous month as lower mortgage rates and a sharp drop in available properties have pushed would-be buyers to bid up home values. The S&P CoreLogic Case-Shiller 20-city home price index rose 2.6% in November from a year ago,...

In this Monday, Jan. 27, 2020 photo a passer-by walks near stoves, front, at a Home Depot store location, in Boston. On Tuesday, Jan. 28, the Conference Board reports on U.S. consumer confidence for January.  (AP Photo/Steven Senne)

US consumer confidence shows solid gain in January

Jan. 28, 2020 10:36 AM EST

WASHINGTON (AP) — U.S. consumer confidence showed a strong gain in January, bolstered by continued strength in the job market. The Conference Board said Tuesday that its consumer confidence index rose to a reading of 131.6 this month, up from 128.2 in December. Lynn Franco, senior director of economic...

FILE — In this Dec. 15, 2013 file photo, British entrepreneur Richard Branson, left, speaks to South African billionaire Patrice Motsepe, centre, and his wife Precious Makgosi Moloi, right, before the funeral service for former South African President Nelson Mandela in Qunu, South Africa. Motsepe, Tuesday, Jan. 28, 2020, has apologized for telling U.S. President Donald Trump that

Billionaire apologizes for telling Trump 'Africa loves you'

Jan. 28, 2020 10:32 AM EST

JOHANNESBURG (AP) — A South African billionaire businessman has apologized for telling U.S. President Donald Trump that "Africa loves you" during the World Economic Forum in Davos last week. A video of Patrice Motsepe's remarks to Trump went viral on social media and sparked outrage from people who...

Passengers wear protective face masks arrive at the high speed train station in Hong Kong, Tuesday, Jan. 28, 2020. Hong Kong's leader has announced that all rail links to mainland China will be cut starting Friday as fears grow about the spread of a new virus. (AP Photo/Vincent Yu)

US, others prepare evacuations as virus spreads from China

Jan. 28, 2020 9:36 AM EST

BEIJING (AP) — The United States and several other nations prepared Tuesday to airlift citizens out of a Chinese city at the center of a virus outbreak that has killed more than 100 people. Hong Kong's leader said it will cut all rail links to mainland China and halve the number of flights as authorities...

FILE - In this Dec. 7, 2015 file photo, a Boeing 737 MAX airplane being built is shown on the assembly line in Renton, Wash. Orders to U.S. factories for big-ticket manufactured goods rose in December 2019 as a big jump in demand for military aircraft offset a sharp decline in commercial aircraft.  Demand for commercial aircraft fell a sharp 74.7 percent, reflecting the struggle Boeing has had getting its troubles Boeing has had with its troubled 737 Max plane following two fatal crashes. (AP Photo/Ted S. Warren)

Orders for US durable goods advance 2.4% in December

Jan. 28, 2020 9:19 AM EST

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods rose in December as a big jump in demand for military aircraft offset a sharp decline in commercial aircraft that reflected Boeing’s continued problems with its 737 Max. A key category that tracks business investment fell...

Britain's Prime Minister Boris Johnson, center, visits the Department of Mathematics at King's Maths School, part of King's College London University, in London, Monday Jan. 27, 2020. (Daniel Leal-Olivas/Pool via AP)

Experts say UK should lower salary threshold for immigrants

Jan. 28, 2020 8:32 AM EST

LONDON (AP) — A panel of immigration experts says Britain should lower the salary threshold for immigrants after Brexit and urged the government to quickly set up new migration rules once the U.K. leaves the European Union. The Conservative government asked the Migration Advisory Committee to come up with...

In this March 27, 2017, file photo, tourists from China take pictures at the New England Aquarium in Boston. With tens of millions of Chinese ordered to stay put and many others opting to avoid travel as the new coronavirus spreads, tourism around the global is taking a heavy hit during one of the biggest travel seasons, the Lunar New Year. (AP Photo/Elise Amendola, File)

China virus outbreak rams global tourism, costing billions

Jan. 28, 2020 8:14 AM EST

Businesses around the world that have grown increasingly reliant on big-spending tourists from China are taking a heavy hit, with tens of millions of Chinese residents restricted from leaving their country as the coronavirus spreads. Hotels, airlines, casinos and cruise operators were among the industries...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Jan. 28, 2020. Asian shares continued to fall Tuesday, dragged down by worries about an outbreak of a new virus in China that threatens global economic growth. (AP Photo/Ahn Young-joon)

Stock markets stabilize after selloff over China virus

Jan. 28, 2020 8:09 AM EST

TOKYO (AP) — European stock markets and U.S. futures edged higher after another day of losses in Asia on Tuesday amid worries over the expanding outbreak of a new virus in China. France's CAC 40 rose 0.5% to 5,893 , while Germany's DAX rose 0.4% to 13,253. Britain's FTSE 100 was up 0.5% at 7,447. U.S....