Latest Economy News

FILE - In this Sept. 2, 2018 file photo, United Nations Secretary-General Antonio Guterres, left, shakes hands with Chinese President Xi Jinping before their bilateral meeting at the Great Hall of the People in Beijing.  The descriptions that China's state media rolled out ahead of leader Xi's speech Tuesday, Sept. 22, 2020, at the annual gathering of world leaders at the United Nations lauded him as as a

Amid China's bumpy rise, Xi faces delicate moment at UN

Sep. 22, 2020 8:26 AM EDT

TOKYO (AP) — The descriptions that China’s state media rolled out ahead of leader Xi Jinping’s speech Tuesday at the annual gathering of world leaders at the United Nations were hardly unexpected. The Xinhua news agency lauded him as as a “champion of the U.N. ethos,” and...

A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Sept. 22, 2020. Shares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain. (AP Photo/Vincent Yu)

European stocks, US futures stabilize after steep sell-off

Sep. 22, 2020 8:05 AM EDT

Stock markets recovered their poise on Tuesday, with European shares and Wall Street futures edging up after suffering steep losses the previous day. Investors have been spooked in recent days by a resurgence in coronavirus cases that is leading to new restrictions on business in parts of Europe and other...

A new AP-NORC poll finds the share of Americans who expect the economy to worsen in the next year has fallen from a high in May of 4 in 10. About 3 in 10 now say they expect the economy to get worse in the next year.

AP-NORC poll: Dim view of economy stable as election nears

Sep. 22, 2020 8:02 AM EDT

WASHINGTON (AP) — Most Americans view the nation’s economic situation as bleak, but a rising percentage also see signs of stability six weeks before Election Day — if not reasons for optimism. According to a new poll from The Associated Press-NORC Center for Public Affairs Research, 60% of...

People with bicycles pass an outdoor restaurant on a street in the Sodermalm neighbourhood of Stockholm, Thursday, August 20, 2020. (Fredrik Sandberg/TT News Agency via AP)

Swedish central bank sees key interest rate at 0 for years

Sep. 22, 2020 7:07 AM EDT

STOCKHOLM (AP) — Sweden’s central bank on Tuesday kept its main interest rate at zero and said it expects it to remain “at this level in the coming years” due to the economic uncertainty created by the virus pandemic. Riksbanken said its policies and low interest rate had supported the...

Minister of State for Europe at the German Federal Foreign Office Michael Roth, left, speaks with Dutch Minister of Foreign Affairs Stef Blok, center, and Italian Minister of European Affairs Vicenzo Amendola, right, during a meeting of the General Affairs Council at the European Council building in Brussels, Tuesday, Sept. 22, 2020. European Union ministers meet Tuesday to discuss the stalemate in the Brexit negotiations and prospects to avoid a no-deal cliff-edge transition at the end of the year. (Aris Oikonomou, Pool via AP)

EU to UK: stop playing 'games' with Brexit trade talks

Sep. 22, 2020 6:53 AM EDT

BRUSSELS (AP) — The European Union is pleading with Britain to stop playing “games" as time is running out to clinch a free trade deal over the next month. The sides committed to a new meeting to discuss Britain's plans to disregard part of the withdrawal agreement it had signed with the 27-nation...

A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Sept. 22, 2020. Shares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain. (AP Photo/Vincent Yu)

Asian shares track Wall Street retreat on pandemic pains

Sep. 22, 2020 12:41 AM EDT

Shares slipped Tuesday in Asia after markets tumbled worldwide on worries about the pandemic’s economic pain. Hong Kong's Hang Seng lost 0.3% to 23,894.72 and the Kospi in South Korea sank 1.7% to 2,348.24. The S&P/ASX 200 in Australia lost 0.6% to 5,787.00 and the Shanghai Composite index edged 0.1%...

A man walk past portraits of former United Nations Secretary-Generals, Monday, Sept. 21, 2020 at United Nations headquarters. In 2020, which marks the 75th anniversary of the United Nations, the annual high-level meeting of world leaders around the U.N. General Assembly will be very different from years past because of the coronavirus pandemic. Leaders will not be traveling to the United Nations in New York for their addresses, which will be prerecorded. Most events related to the gathering will be held virtually. No access to world leaders on the U.N. grounds will be possible, therefore, and access to most anything will be extremely curtailed. (AP Photo/Mary Altaffer)

Born to prevent war, UN at 75 faces a deeply polarized world

Sep. 21, 2020 9:42 PM EDT

UNITED NATIONS (AP) — The United Nations marked its 75th anniversary Monday with its chief urging leaders of an increasingly polarized, go-it-alone world to work together and preserve the organization’s most important success since its founding: avoiding a military confrontation between the major...

FILE - In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York.  Shares of some major banks are tumbling before the market open Monday, Sept . 21, 2020, following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions.   (AP Photo/Richard Drew, File)

Bank shares slide on report of rampant money laundering

Sep. 21, 2020 5:29 PM EDT

The financial sector was hit hard Monday following a report alleging that a number of banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon among them — have continued to profit from illicit dealings with disreputable people and criminal networks despite previous...

House Speaker Nancy Pelosi of Calif., speaks during a news conference on Capitol Hill, Friday, Sept. 18, 2020, in Washington. (AP Photo/Manuel Balce Ceneta)

Democrats unveil temporary funding bill to avert shutdown

Sep. 21, 2020 4:54 PM EDT

WASHINGTON (AP) — Democrats controlling the House unveiled a government-wide temporary funding bill on Monday that would keep federal agencies fully up and running into December. The measure would prevent a partial shutdown of the government after the current budget year expires at the end of the month,...

How major US stock indexes fared Monday

Sep. 21, 2020 4:35 PM EDT

Stocks closed broadly lower on Wall Street Monday as markets tumbled worldwide on worries about the pandemic’s economic pain. The S&P 500 ended with its fourth-straight loss, though a last-hour rally helped trim its decline by more than half. Industrial, health care and financial stocks accounted for...