Latest Economy News

Stocks on Wall Street waver, clinging to gains for the week

Sep. 24, 2021 14:36 PM EDT

Stocks are wavering between small gains and losses on Wall Street Friday, and are still barely higher for the week. The weak showing follows a two-day rally that helped erase a slump earlier in the week. Investors have been facing similar choppiness throughout September...

Contenders tout credentials in close vote to replace Merkel

Sep. 24, 2021 13:29 PM EDT

BERLIN (AP) — The contenders to succeed Angela Merkel as Germany's chancellor sought to mobilize voters Friday as the election campaign neared its close, touting their credentials to lead Europe's biggest economy into a new era as it grapples with the fallout from the coronavirus pandemic...

Trail building school on Nevada-Utah line would be US' first

Sep. 24, 2021 13:21 PM EDT

ELY, Nev. (AP) — Nevada’s Great Basin Institute has been awarded a federal grant to begin planning the creation of what the state Department of Conservation and Natural Resources says is the nation's first professional recreational trail-building school. The...

France pledges support for Lebanon's new prime minister

Sep. 24, 2021 13:00 PM EDT

PARIS (AP) — French President Emmanuel Macron welcomed Friday Lebanon’s new prime minister at the presidential palace, wishing him success and promising France would continue to support the crisis-struck country. In Beirut, protesters pelted commercial banks with eggs and rallied against...

Venezia makes waves with American imports to Italian league

Sep. 24, 2021 12:39 PM EDT

VENICE, Italy (AP) — The team bus is a team boat for American midfielder Gianluca Busio and his Venezia teammates when they play home games in one of Italy's most picturesque cities. “We drive to a little port and the (water) taxi is waiting for us. That’s the only...

His country mired in crises, Lebanese leader calls for help

Sep. 24, 2021 12:13 PM EDT

BEIRUT (AP) — The reverberations of terrorism across the oceans and war in their own neighborhood have left Lebanon and its fellow nations in the Middle East struggling with the consequences, Lebanon’s president said Friday, calling for international help to save his own crisis-hit...

Great Wall of Lights: China’s sea power on Darwin’s doorstep

Sep. 24, 2021 11:55 AM EDT

ABOARD THE OCEAN WARRIOR in the eastern Pacific Ocean (AP) — It’s 3 a.m., and after five days plying through the high seas, the Ocean Warrior is surrounded by an atoll of blazing lights that overtakes the nighttime sky. “Welcome to the party!" says third officer...

Chinese banks try to calm fears about developer's debts

Sep. 24, 2021 11:46 AM EDT

BEIJING (AP) — Trying to dispel investor fears, some Chinese banks are disclosing what they are owed by a real estate developer that is struggling under $310 billion in debt and say they can cope with a potential default. The announcements came as Evergrande Group...

New homes sales rise for second straight month in August

Sep. 24, 2021 10:39 AM EDT

SILVER SPRING, Md. (AP) — Sales of new homes in the U.S. rose modestly in August as rising prices continue to sideline potential buyers. Sales of new homes last month rose 1.5%, the Commerce Department reported Friday, reaching a seasonally adjusted annual rate of...

Shortages cause 'bottleneck recession' for German industry

Sep. 24, 2021 10:18 AM EDT

FRANKFURT, Germany (AP) — Shortages of semiconductor chips and other raw materials are continuing to hit Germany's manufacturers, as bottlenecks leave companies struggling to fill orders from a rebounding global economy. Widespread friction in supply chains sent a...