Latest Economy News
Lumentum buys Coherent in $5.7B push into lasers, photonics
Lumentum Holdings will spend $5.7 billion in cash and stock to buy Coherent and expand its reach into lasers and photonics. The San Jose, California, company said Tuesday that it would pay a 49% premium to the closing price of Coherent shares on Friday. The deal includes $100 in cash and slightly more than one...
Wall Street's momentum swings back as stocks, yields tick up
NEW YORK (AP) — Stocks are ticking higher on Wall Street Tuesday, recovering some of last week’s losses to pull closer to their record highs. The S&P 500 was up 0.5% in morning trading and back within 1% of its record set earlier this month. The Dow Jones Industrial Average was up 128 points,...
Pandemic support at center of Yellen confirmation hearing
WASHINGTON (AP) — The Senate Finance Committee has begun its confirmation hearing for Treasury Secretary-nominee Janet Yellen with Democrats and Republicans squaring off immediately over how much more support the economy, hammered during the pandemic, requires. Sen. Ron Wyden, D-Oregon, who is scheduled...
UK lawmakers debate 'genocide' clause to China trade deals
LONDON (AP) — Lawmakers in Britain were set to vote Tuesday on a proposal aimed at preventing the U.K. from making trade deals with any country deemed by the British High Court to be committing genocide. The amendment to the government’s post-Brexit trade bill, which already passed by a majority in...
AP-NORC poll: Virus, economy swamp other priorities for US
WASHINGTON (AP) — Containing the coronavirus outbreak and repairing the economic damage it has inflicted are the top priorities for Americans as Joe Biden prepares to become the 46th president of the United States, according to a new poll from The Associated Press-NORC Center for Public Affairs Research....
Germany's 2020 borrowing comes in well short of forecast
BERLIN (AP) — Germany borrowed 130.5 billion euros ($157.5 billion) last year as it loosened budget rules to help finance pandemic-related rescue and stimulus packages — a considerably smaller sum than was originally planned. After six years in the black, Germany resorted to running up new debt in...
Biden has set sky-high expectations. Can he meet them?
WASHINGTON (AP) — Back when the election was tightening and just a week away, Joe Biden went big. He flew to Warm Springs, the Georgia town whose thermal waters once brought Franklin Delano Roosevelt comfort from polio, and pledged a restitching of America's economic and policy fabric unseen since FDR's...
Dubai, party haven amid pandemic, faces its biggest surge
DUBAI, United Arab Emirates (AP) — Masks off the minute you step inside. Bars packed and pulsing like it’s 2019. Social media stars waving bottles of champagne. DJs spinning party tunes through multi-hour brunches. Since becoming one of the world's first destinations to open up for tourism, Dubai,...
Group: Billion in aid needed to help Afghan kids in 2021
KABUL, Afghanistan (AP) — Some 10 million children in war-ravaged Afghanistan are at risk of not having enough food to eat in 2021, a humanitarian organization said Tuesday and called for $1.3 billion in new funds for aid. Just over 18 million Afghans, including 9.7 million children, are badly in need of...
Profit at Chinese state industry rises with virus recovery
BEIJING (AP) — Profit at state-owned companies that dominate China’s banking, oil and most other industries rose by as much as 25% last year as the country recovered from the coronavirus pandemic, the government said Tuesday. Total revenue for national-level companies rose 2.2% over 2019 to 30.3...
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