Latest Economy News
75 years later, can Asia shake off shackles of the past?
TOKYO (AP) — Northeast Asia doesn’t so much repeat history as drag it along like an anchor. The bombs stopped falling 75 years ago, but it is entirely possible — crucial even, some argue — to view the region’s world-beating economies, its massive cultural and political reach...
After brief trade truce, US slaps levy on Canadian aluminum
WASHINGTON (AP) — After more than two years of browbeating and trade sanctions on Canada and Mexico, President Donald Trump strong-armed the United States’ neighbors into agreeing to supplant a 25-year-old North American trade agreement with one of his own. His pact, meant to update the old deal and...
Stocks barely budge on Wall Street; S&P 500 just shy of high
NEW YORK (AP) — Stock indexes barely budged on Wall Street Friday, leaving the S&P 500 just shy of its record once again. The S&P 500 edged down 0.58, or less than 0.1%, to 3,372.85 after drifting between small gains and losses throughout the day. They’re the latest meandering moves for the...
Filing: Kansas prof's prosecution criminalizes job disputes
BELLE PLAINE, Kan. (AP) — The prosecution of a Kansas researcher ensnared in a U.S. government crackdown on Chinese economic espionage and trade secret theft opens the door to criminalizing workplace disagreements, his attorneys argued Friday in a motion asking a court to throw out the charges. Feng...
US retail sales rise for 3rd month but slowdown expected
WASHINGTON (AP) — Americans increased their spending at retail stores and restaurants in July for a third straight month, but some evidence suggests that sales are weakening with the expiration of government rescue aid that had previously put more money in people's pockets. Friday's report from the...
Asia Today: India's virus death toll rises, Seoul cases jump
NEW DELHI (AP) — India’s coronavirus death toll overtook Britain's to become the fourth-highest in the world with another single-day record increase in cases Friday. According to the Health Ministry, India reported 1,007 deaths in the past 24 hours. Its total rose to 48,040 deaths, behind the United...
Dutch economy shrinks by 'unprecedented' 8.5% as virus hits
THE HAGUE, Netherlands (AP) — The Dutch economy suffered an unprecedented 8.5% contraction in the second quarter as the coronavirus pandemic slammed the brakes on spending, exports and investments, the country's Central Bureau for Statistics said Friday. While the Dutch contraction compared to the first...
Editorial Roundup: New England
Recent editorials of regional and national interest from New England’s newspapers: CONNECTICUT UConn made right move to cancel football season The Connecticut Post Aug. 11 It wasn’t going to be easy for the University of Connecticut football team to have a season this year under any circumstances....
US industrial production up 3%; factory output up 3.4%
WASHINGTON (AP) — American industry continued to regain ground lost in the coronavirus recession last month, but production remains well below where it was before the pandemic struck. The Federal Reserve reported Friday that industrial production — including output at factories, mines and utilities...
US productivity rises 7.3% as hours worked are nearly halved
SILVER SPRING, Md. (AP) — U.S. productivity rose at a 7.3% rate in the second quarter as the number of hours worked fell by nearly half, the biggest drop-off since the government started tracking the data more than 70 years ago. The Labor Department said Friday that output decreased 38.9%, also the biggest...
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