Latest Economy News

Rivals in Ukraine's presidential runoff debate at stadium

Apr. 19, 2019 2:43 PM EDT

KIEV, Ukraine (AP) — A comedian who is the front-runner in Ukraine's presidential race and the incumbent fighting to retain his job traded accusations in a debate at a sports stadium Friday, just two days before the election. President Petro Poroshenko, who is trailing in opinion polls ahead of Sunday's...

US corporations embracing 420 as pot legalization grows

Apr. 19, 2019 9:39 AM EDT

LOS ANGELES (AP) — Potheads have for decades celebrated their love of marijuana on April 20, but the once counter-culture celebration that was all about getting stoned now is so mainstream Corporate America is starting to embrace it. No, Hallmark doesn't yet have a card to mark "420." But many other...

US home construction slips 0.3% in March

Apr. 19, 2019 9:25 AM EDT

WASHINGTON (AP) — U.S. home construction slipped 0.3% in March, as housing starts are running below last year's pace in a sign that inventory could be a challenge for would-be buyers. The Commerce Department said Friday that ground breakings last month occurred at a seasonally adjusted annual rate of 1.14...

Alibaba head's remarks spark debate over China working hours

Apr. 19, 2019 6:55 AM EDT

BEIJING (AP) — Chinese e-commerce tycoon Jack Ma has long been an example of how the power of big dreams, strong leadership and sheer elbow grease can create massive fortunes in China's go-go economy. Yet, recent remarks by the head of Chinese online business giant Alibaba that young people should be...

Global stocks modestly higher in quiet holiday trading

Apr. 19, 2019 4:40 AM EDT

TOKYO (AP) — Global stock indexes were mostly moderately higher in quiet holiday trading on Good Friday as some markets were closed. Trading was closed in France, Germany and the U.K. Japan's benchmark Nikkei 225 edged up 0.5% to finish at 22,200.56. South Korea's Kospi inched up 0.1% to2,216.15. The...

China downplays political impact of global development push

Apr. 19, 2019 2:44 AM EDT

BEIJING (AP) — China downplayed the political implications of its global Belt and Road infrastructure initiative, saying Friday that it aimed to boost multilateralism amid protectionist trends in the U.S. and elsewhere. Foreign Minister Wang Yi said that a conference to promote the initiative to be held...

Asian stocks rise in quiet holiday trading

Apr. 18, 2019 11:55 PM EDT

TOKYO (AP) — Asian stock indexes rose moderately in quiet holiday trading on Good Friday as some markets were closed. Japan's benchmark Nikkei 225 edged up 0.5% in early trading to 22,191.98. South Korea's Kospi rose 0.3% to 2,221.1. The Shanghai Composite gained 0.6% to 3,269.59. Some markets remain...

Celebration of Japan's new era big opportunity for business

Apr. 18, 2019 9:32 PM EDT

TOKYO (AP) — Japan is getting ready for its biggest celebration in years with the advent of the Reiwa era of soon-to-be emperor Naruhito. That means big opportunities for businesses hoping consumers will splash out on long holidays and memorabilia. Many Japanese will get their longest ever "Golden Week"...

Putin envoy in Caracas rejects US revival of Monroe Doctrine

Apr. 18, 2019 7:48 PM EDT

CARACAS, Venezuela (AP) — As Venezuela's reliance on Russia grows amid the country's unfolding crisis, Vladimir Putin's point man in Caracas is pushing back on the U.S. revival of a doctrine used for generations to justify military interventions in the region. In a rare interview, Russian Ambassador...

IPO mania: Zoom zooms, Pinterest pins down Wall Street

Apr. 18, 2019 6:45 PM EDT

SAN FRANCISCO (AP) — There's some tech jubilance in the air on Wall Street and in Silicon Valley as a pair of newly public companies — Zoom and Pinterest — saw their stocks soar on their first trading day. No one wants talk about a bubble, not to mention its prospects for bursting, but the...