Latest Economic policy News

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  U.S. stocks are swinging between losses and gains in Thursday, Sept. 24,  trading, as volatility continues to be the dominant force in Wall Street’s tumultuous September.  (AP Photo/Mary Altaffer, File)

US stocks end higher as market volatility continues

Sep. 24, 2020 5:11 PM EDT

Stocks eked out modest gains Thursday even as volatility continued to be the dominant force in Wall Street's tumultuous September. The S&P 500 rose 0.3% after earlier swinging between a loss of 0.9% and a gain of 1.3%. The market notched widespread gains, though technology stocks powered much of the...

FILE - In this Tuesday, March 3, 2020 file photo, Britain's Prime Minister Boris Johnson gestures, during a press conference at Downing Street on the government's coronavirus action plan in London. Britain botched its response to the coronavirus the first time around. Now many scientists fear it’s about to do it again.
The virus is on the rise again in the U.K., which has recorded almost 42,000 COVID-19 deaths, with confirmed infections at their highest level since May.  (AP Photo/Frank Augstein, Pool, File)

The Latest: US company moves virus vaccine study to UK

Sep. 24, 2020 4:59 PM EDT

GAITHERSBURG, Md. — A U.S. biotechnology company is moving its experimental COVID-19 vaccine into final-stage testing in Britain, a different kind of shot than other leading candidates. Novavax Inc. announced Thursday that the Phase 3 study getting underway in the United Kingdom aims to test up to 10,000...

Treasury Secretary Steve Mnuchin testifies during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, Wednesday, Sept. 24, 2020, in Washington. (Toni L. Sandys/The Washington Post via AP, Pool)

Mnuchin and Powell back jobless aid and small business loans

Sep. 24, 2020 2:23 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell said Thursday that the government’s top priorities in any new economic relief package should be to provide affordable loans to small businesses and further support for millions of Americans still...

Commuters at Waterloo Station, in London, Thursday, Sept. 24, 2020, after Britain's Prime Minister Boris Johnson announced a range of new restrictions to combat the rise in coronavirus cases in England. (Victoria Jones/PA via AP)

UK announces new plan to help workers hit by pandemic

Sep. 24, 2020 1:02 PM EDT

LONDON (AP) — Britain’s treasury chief announced a new income support program Thursday for workers hurt by the coronavirus pandemic, as the government races to prevent widespread layoffs when earlier employer subsidies end next month. Chancellor Rishi Sunak, in a speech to lawmakers, unveiled his...

Turkey hikes rates to support currency, fight inflation

Sep. 24, 2020 8:49 AM EDT

ANKARA, Turkey (AP) — Turkey’s Central Bank raised its benchmark interest rate by 2 percentage points on Thursday, its first hike in two years to fight inflation and support its falling currency. In a surprise move that helped boost the Turkish currency, the Monetary Policy Committee said it had...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 24, 2020. Asian shares were mostly lower Thursday as caution again after a retreat on Wall Street driven by a decline in technology shares.(AP Photo/Ahn Young-joon)

Asian shares fall as caution sets in after Wall St retreat

Sep. 23, 2020 11:05 PM EDT

Asian shares were mostly lower Thursday as caution set in after a retreat on Wall Street driven by a decline in technology shares. Market players are feeling less optimistic about action from the U.S. Federal Reserve and Congress to help the U.S. economy amid the distractions of the presidential election and the...

How major US stock indexes fared Wednesday

Sep. 23, 2020 4:51 PM EDT

Technology companies dragged U.S. stocks sharply lower Wednesday as Wall Street's tumultuous month continues to churn. The latest losses erased the S&P 500's gains from a day earlier and deepened the benchmark index’s September slide to 7.5% after a five-month rally. Worries about a potential second...

FILE – This April 4, 2017, file photo shows the entrance to FirstEnergy Corp.'s Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Ohio’s attorney general has filed a lawsuit attempting to block the state’s nuclear plants from collecting fees on electricity bills that were authorized in a new law. Attorney General Dave Yost filed the lawsuit Wednesday, Sept. 23, 2020 in Franklin County Court against Energy Harbor. (AP Photo/Ron Schwane, file)

Ohio sues to block nuclear bailout money from being paid

Sep. 23, 2020 3:25 PM EDT

COLUMBUS, Ohio (AP) — Ohio’s attorney general sued Wednesday in an attempt to block the state’s nuclear plants from collecting fees on electricity bills that were authorized in a new law at the center of a $60 million federal bribery probe involving the former speaker of the Ohio House....

FILE - In this Saturday, Feb. 1, 2020 file photo, lorries wait to board ferries on the morning after Brexit took place at the Port of Dover, in Dover, England. The British government says there could be lines of 7,000 trucks at the English Channel and two-day waits to get into France immediately after the U.K. makes its economic break from the European Union at the end of the year. Brexit preparation minister Michael Gove describes that as a reasonable worst-case scenario in a letter to logistics firms. (AP Photo/Matt Dunham, FILE)

UK says no-deal Brexit could see 7,000-truck border queues

Sep. 23, 2020 11:09 AM EDT

LONDON (AP) — There there could be lines of 7,000 trucks at the English Channel and two-day waits to get into France immediately after the U.K. makes its economic break from the European Union at the end of the year, the British government said Wednesday, as it urged businesses to prepare for major change....

Olaf Scholz, Federal Minister of Finance, attends the meeting of the Federal Cabinet in the Federal Chancellery in Berlin, Germany, Sept. 23, 2020. (Kay Nietfeld/dpa via AP)

German Cabinet approves 2021 budget with high borrowing

Sep. 23, 2020 9:02 AM EDT

Germany's Cabinet on Wednesday approved a 2021 budget that foresees significant borrowing for the second consecutive year as Europe's biggest economy tries to lessen the fallout of the coronavirus crisis. The budget plan calls for spending of 413.4 billion euros ($485 billion) next year, down from this year's...