Latest Economy News

Supreme Court rules for states in online sales tax case

Jun. 21, 2018 10:25 AM EDT

WASHINGTON (AP) — The Supreme Court says states can force online shoppers to pay sales tax. The 5-4 ruling Thursday is a win for states, who said they were losing out on billions of dollars annually under two decades-old Supreme Court decisions that impacted online sales tax collection. The high court...

Merkel pledges $100 million loan for troubled Jordan

Jun. 21, 2018 10:13 AM EDT

AMMAN, Jordan (AP) — German Chancellor Angela Merkel on Thursday promised a $100 million loan to troubled Jordan, where mass protests over austerity measures forced the prime minister to resign earlier this month. Merkel visited the kingdom amid an escalating domestic row over migration. Standing next to...

Markets Right Now: Energy and industrial companies dip

Jun. 21, 2018 9:53 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. U.S. stocks are opening lower as energy companies fall with oil prices and industrial companies slip as investors focus on the U.S.-China trade dispute. Boeing and Caterpillar both fell 1.3 percent Thursday after...

Stocks mostly lower amid caution over US-China tensions

Jun. 21, 2018 8:24 AM EDT

TOKYO (AP) — Global stock markets were mostly lower Thursday amid concern over the trade tensions between the U.S. and China. KEEPING SCORE: France's CAC 40 was down 0.4 percent at 5,349 and Germany's DAX shed 0.7 percent to 12,601 after Daimler warned about its outlook due to Chinese tariffs on its...

Treasury chief to outline UK plan to remain a finance hub

Jun. 21, 2018 8:11 AM EDT

LONDON (AP) — Britain's Treasury chief is expected to outline plans to ensure the nation's financial services industry can thrive after the U.K. leaves the European Union when he delivers a speech to top business executives Thursday night. Philip Hammond says in excerpts released ahead of his annual...

Thailand preparing total ban on import of electronic waste

Jun. 21, 2018 7:50 AM EDT

BANGKOK (AP) — Thai authorities, who began a series of raids last month on factories accused of illegally importing and processing electronic waste, say they may use special powers given to the military government to impose a total ban on the import of such potentially toxic materials. Minister of Natural...

Tariffs stir unrest among American whiskey producers

Jun. 21, 2018 7:29 AM EDT

LOUISVILLE, Ky. (AP) — Much of the rye whiskey aging in hundreds of barrels at Catoctin Creek Distillery in Virginia could end up being consumed in Europe, a market the 9-year-old distilling company has cultivated at considerable cost. But an escalating trade dispute has the distillery's co-founder and...

EU says tax on Harleys aimed to 'make noise' in trade debate

Jun. 21, 2018 6:35 AM EDT

WELLINGTON, New Zealand (AP) — European Union Trade Commissioner Cecilia Malmstrom said Thursday that the grouping has targeted some iconic American imports like Harley-Davidson motorcycles and bourbon for tariffs in hopes that it will "make noise" and put pressure on U.S. leaders amid a trade dispute. The...

Germany's Daimler lowers 2018 outlook, cites tariffs, diesel

Jun. 21, 2018 3:42 AM EDT

BERLIN (AP) — German automaker Daimler AG has lowered its 2018 earnings outlook, a change that it says is partly due to increased import tariffs for U.S. vehicles in China. The company said late Wednesday that it now sees fewer SUV sales and higher costs at its Mercedes-Benz Cars division than previously...

China says US swinging 'big stick' of unfair trade tactics

Jun. 21, 2018 3:23 AM EDT

BEIJING (AP) — China on Thursday accused the United States of using bullying tactics and blackmail in threatening to impose tariffs on hundreds of billions of dollars of Chinese imports, ramping up criticism that the measures levied in the name of balancing trade would harm both countries' companies and...