Latest Economy News

Shares gain as Evergrande says it will make interest payment

Sep. 22, 2021 03:54 AM EDT

World shares and U.S. futures advanced Wednesday after Chinese developer Evergrande said it intends to make an interest payment on its debt that is due Thursday. Shares rose in Paris, Frankfurt and Shanghai but fell in Tokyo. Markets have been...

Chinese builder in debt jam says it will make bond payment

Sep. 22, 2021 03:04 AM EDT

BEIJING (AP) — A Chinese real estate developer that is struggling to avoid defaulting on billions of dollars of debt reassured jittery global markets at least briefly Wednesday by announcing it will make an interest payment due this week. The Chinese government,...

Asian shares mostly lower after mixed trading on Wall Street

Sep. 21, 2021 22:52 PM EDT

Asian shares were mostly lower on Wednesday after major indexes ended mixed on Wall Street. Benchmarks fell in Tokyo, Shanghai and Taiwan but rose in Sydney. Markets in South Korea and Hong Kong were closed for holidays. The Bank of Japan kept its...

ADB: Asia below pre-pandemic levels as variants slow rebound

Sep. 21, 2021 22:31 PM EDT

Developing economies in Asia will likely grow at a slower pace than earlier expected due to prolonged COVID-19 outbreaks and uneven progress in vaccinations, the Asian Development Bank said in a report Wednesday. The regional lender lowered its outlook for economic...

China keeps virus at bay at high cost ahead of Olympics

Sep. 21, 2021 20:32 PM EDT

BEIJING (AP) — The Beizhong International Travel Agency in the eastern city of Tianjin has had only one customer since coronavirus outbreaks that began in July prompted Chinese leaders to renew city lockdowns and travel controls. Most of China is virus-free, but the...

AP sources: Grievance over shortened MLB season opens Monday

Sep. 21, 2021 20:04 PM EDT

NEW YORK (AP) — In the midst of difficult negotiations for a new collective bargaining agreement, Major League Baseball and its players' association are scheduled to start a grievance hearing next Monday over the union's claim the 2020 pandemic-affected season was too short. ...

The Latest: Argentina, Colombia warn of debt crisis

Sep. 21, 2021 19:18 PM EDT

The Latest on the U.N. General Assembly: ___ The presidents of Argentina and Colombia warned the U.N. General Assembly that increasingly strapped emerging markets could default on their foreign debts, and called on multilateral lenders to push for...

Biden promises 'relentless diplomacy' to skeptical allies

Sep. 21, 2021 18:32 PM EDT

UNITED NATIONS (AP) — President Joe Biden summoned the world’s nations to forcefully address the festering global issues of the COVID-19 pandemic, climate change and human rights abuses in his first address before the U.N. General Assembly on Tuesday. He decried military conflict and...

China's Xi, like Biden hours earlier, turns to calm language

Sep. 21, 2021 18:31 PM EDT

NEW YORK (AP) — Choosing calm language as tensions with the United States grow, Chinese leader Xi Jinping reiterated his nation's longtime policy of multilateralism on Tuesday, telling world leaders at the United Nations that disputes among countries “need to be handled through dialogue...

Tight job market is causing costs to rise at FedEx

Sep. 21, 2021 18:19 PM EDT

NEW YORK (AP) — FedEx is getting hurt by the tight job market. The package delivery company said Tuesday that its costs are up $450 million in the most recent quarter, as it paid higher wages as it got harder to find new workers and demand for shipping increased. FedEx...