Latest Economy News

EU slaps sanctions on Turkey over gas drilling off Cyprus

Jul. 15, 2019 6:34 PM EDT

BRUSSELS (AP) — European Union foreign ministers on Monday turned up the pressure on Turkey after approving an initial batch of sanctions against the country over its drilling for gas in waters where EU member Cyprus has exclusive economic rights. The ministers said in a statement that in light of Turkey's...

Mnuchin says budget deal with Pelosi is 'very close'

Jul. 15, 2019 6:11 PM EDT

WASHINGTON (AP) — It's House Speaker Nancy Pelosi and top Senate Republican Mitch McConnell vs. hardliners in the White House as lawmakers pursue a deal on federal spending and the debt. And the hardliners, wary of further increases to federal spending, appear to be losing. Talks between Pelosi and...

Trump signs order to make American-made goods more American

Jul. 15, 2019 5:45 PM EDT

WASHINGTON (AP) — President Donald Trump signed an executive order Monday that will require federal agencies to purchase products using more American components. The order strengthens the standards that federal agencies must follow under the Buy American Act, which creates a preference for American-made...

S&P 500 notches another record after a muted, mixed day

Jul. 15, 2019 4:39 PM EDT

NEW YORK (AP) — A wobbly day of trading ended with meager gains for U.S. stock indexes on Monday, enough to nudge them further into record territory, as the curtain rose on what's expected to be the weakest earnings reporting season in years. Financial stocks fell even though Citigroup said it made more...

Markets Right Now: Stocks end a wobbly day slightly higher

Jul. 15, 2019 4:10 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Major U.S. stock indexes ended a wobbly day with meager gains, enough to push them slightly further into record territory. Trading was indecisive for much of the day Monday, as losses for banks mostly offset gains in...

China's growth cools further as tariff war pressures mount

Jul. 15, 2019 3:20 PM EDT

BEIJING (AP) — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%,...

Venezuelan government, opposition resume talks in Barbados

Jul. 15, 2019 3:17 PM EDT

CARACAS, Venezuela (AP) — The Venezuelan government and the opposition are resuming talks aimed at ending the political crisis in their country, the country's information minister said Monday. Jorge Rodríguez said on Twitter that he and the rest of the government's delegation have arrived for...

The Latest: Israeli PM: EU-Iran deal same as bowing to Nazis

Jul. 15, 2019 2:18 PM EDT

BRUSSELS (AP) — The Latest on tensions in the Persian Gulf amid a crisis between the United States and Iran (all times local): 8:10 p.m. Israel's prime minister has responded to the European Union's efforts to salvage the Iran nuclear deal by comparing it to "European appeasement in the 1930s" of Nazi...

After years of plenty, auto workers want a bigger slice

Jul. 15, 2019 2:06 PM EDT

DEARBORN, Mich. (AP) — Contract talks between the United Auto Workers and Detroit's three automakers kicked off with the union president departing from the traditionally friendly tone by telling Ford executives that workers want a bigger share of the companies' record profits. While Ford executives talked...

Trade wars cool market for small businesses

Jul. 15, 2019 1:20 PM EDT

NEW YORK (AP) — The market for small businesses cooled for the third straight quarter during the spring as tariffs from the trade war with China made some sellers and buyers uneasy about making a deal. That report comes from BizBuySell.com, an online marketplace for small companies that counted 2,444...