Latest Economy News

The Latest: WHO chief says vaccine need outstrips G7 pledges

Jun. 12, 2021 15:25 PM EDT

The Latest on the Group of Seven nations meeting being held in England: FALMOUTH, England — The head of the World Health Organization has welcomed the vaccine-sharing announcements coming out of the Group of Seven summit but says “we need more, and we need them...

Biden urges G-7 leaders to call out and compete with China

Jun. 12, 2021 14:50 PM EDT

CARBIS BAY, England (AP) — Leaders of the world's largest economies unveiled an infrastructure plan Saturday for the developing world to compete with China’s global initiatives, but they were searching for a consensus on how to forcefully to call out Beijing over human rights abuses. ...

Virginia tax coffers continue to overflow; surplus expected

Jun. 12, 2021 13:15 PM EDT

RICHMOND, Va. (AP) — Virginia state government continues to bring in more revenue than expected, with a new report showing the state has brought in more than 98 percent of its anticipated annual revenue with a full month remaining in the fiscal year. The monthly revenue...

Aid groups appeal to G-7 for cash to get shots into arms

Jun. 12, 2021 13:10 PM EDT

FALMOUTH, England (AP) — Rich nations must do more than just donate surplus vaccines if they hope to end the COVID-19 pandemic, according to public health experts and humanitarian groups that are calling for money, increased production and logistical support to help developing countries...

Campaign aims to improve internet access for some in Detroit

Jun. 12, 2021 11:18 AM EDT

DETROIT (AP) — A new campaign to help close Detroit’s digital divide will provide a monthly $50 internet access credit and one-time $100 subsidy for a laptop, desktop computer or tablet to eligible city residents. The EBB 313 program streamlines access to the...

GOP governors tie economy to relaxed approach to coronavirus

Jun. 12, 2021 10:17 AM EDT

JEKYLL ISLAND, Ga. (AP) — Republican governors running for reelection have begun trumpeting the party’s more hands-off approach to the coronavirus pandemic, trying to flip the script on an issue that helped Democrats win the White House and control of Capitol Hill in 2020. ...

Pandemic relapse spells trouble for India's middle class

Jun. 12, 2021 02:54 AM EDT

NEW DELHI (AP) — Ram Babu moved from his village to the Indian capital New Delhi in 1980, to clean cars. Soon, he learned to drive and got a job as a tour bus driver. Decades later, he set up his own company, Madhubani Tours and Travels. In March 2020, a stringent...

UN approves Costa Rica's Grynspan to head UN trade body

Jun. 12, 2021 00:54 AM EDT

UNITED NATIONS (AP) — The U.N. General Assembly on Friday approved the nomination of Costa Rican economist Rebecca Grynspan to head the U.N. agency promoting trade and development, the first woman and Central American to lead the Geneva-based organization. She was...

Biden sells G-7 on global tax, but U.S. Congress is a hurdle

Jun. 12, 2021 00:17 AM EDT

President Joe Biden might have persuaded some of the world's largest economies to hike taxes on corporations, but the U.S. Congress could be a far tougher sell. White House press secretary Jen Psaki said Friday that leaders of the Group of Seven — which also includes...

G-7 pledge to share, but jostle for ground in the sandbox

Jun. 11, 2021 19:29 PM EDT

CARBIS BAY, England (AP) — Group of Seven leaders brought pledges to share vaccine doses and make a fairer global economy Friday to a seaside summit in England, where British Prime Minister Boris Johnson said the coronavirus pandemic should not be allowed to leave a “lasting scar” on...