Latest Economy News
Myanmar's economy set to contract as floods and fighting take heavy toll, the World Bank says
BANGKOK (AP) — Myanmar’s economy is forecast to contract this year, the World Bank said Wednesday, as flooding and fighting take a severe toll nearly four years after the military ousted its elected government headed by Aung San Suu Kyi. In an update issued Wednesday, the bank...
India's new central bank governor takes over as economic growth slows and inflation rises
NEW DELHI (AP) — India got a new central bank governor on Wednesday as the country’s economic growth slows and inflation surges. Sanjay Malhotra, a career civil servant, was appointed to a three-year term as head of the Reserve Bank of India, succeeding Shaktikanta Das, who...
Biden says he was 'stupid' not to put his name on pandemic relief checks like Trump did
WASHINGTON (AP) — President Joe Biden said Tuesday he was “stupid” not to put his own name on pandemic relief checks in 2021, noting that Donald Trump had done so in 2020 and likely got credit for helping people out through this simple, effective act of branding. Biden did the...
Argentina’s Milei marks one year in office. Here's how his shock measures are reshaping the economy
BUENOS AIRES, Argentina (AP) — When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. Middle-class families tried to spend their rapidly depreciating pesos as quickly as they got them, and economists...
Chinese leaders pledge 'moderately loose' monetary policy, more support for slowing economy
BANGKOK (AP) — China’s top leaders have pledged to loosen monetary policy and provide more support for the slowing economy, while Premier Li Qiang swiped at threats of higher tariffs on Chinese exports, saying they hinder global growth. Shares in Hong Kong jumped Monday after...
Europe's economy needs help. Political chaos in France and Germany means it may be slower in coming
BRUSSELS (AP) — Even before the French and German governments collapsed, Europe’s economy had enough difficulties. Tepid growth and lagging competitiveness versus the U.S. and China. An auto industry that's struggling. Where to find billions for defense against Russia? And now Donald Trump...
Texas hasn't updated a 2006 study that found undocumented immigrants contribute more than they cost
In 2006, Texas State Comptroller Carole Keeton Strayhorn set out to assess the impact undocumented Texans have on the state economy and found that they contributed more to Texas than they cost the state. “This is the first time any state has done a comprehensive financial analysis...
US added a strong 227,000 jobs in November in bounce-back from October slowdown
WASHINGTON (AP) — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a...
China fine tunes economic stimulus as it braces for new US administration
BANGKOK (AP) — China is fine-tuning policies to rev up its economy as it braces for uncertain relations with the United States under President-elect Donald Trump, giving manufacturers a 20% made-in-China price advantage in sales to the Chinese government. The moves come ahead of a...
Why Trump and the Federal Reserve could clash in the coming years
WASHINGTON (AP) — President-elect Donald Trump campaigned on the promise that his policies would reduce high borrowing costs and lighten the financial burden on American households. But what if, as many economists expect, interest rates remain elevated, well above their...
