Latest Economic policy News

Campaigners protest outside the Royal Courts of Justice where a Court of Appeal ruling is taking place on the Heathrow expansion row, in London, Thursday, Feb. 27, 2020. Britain's Court of Appeal is preparing to publish its decision in a case that could stall the 14 billion pound ($18 billion) plan to expand Heathrow Airport amid concerns about climate change, pollution and noise. (Stefan Rousseau/PA via AP)

UK court blocks Heathrow expansion over climate concerns

Feb. 27, 2020 11:27 AM EST

LONDON (AP) — Heathrow Airport's plans to increase capacity of Europe's biggest travel hub by over 50% were stalled Thursday when a British court said the government failed to consider its commitment to combat climate change when it approved the project. The ruling throws in doubt the future of the 14...

In this Friday, Feb. 14, 2020 photo, a truck leaves the docks at PortMiami in Miami. On Thursday, Feb. 27, the Commerce Department issues the second estimate of how the U.S. economy performed in the fourth quarter. (AP Photo/Wilfredo Lee)

US economy grew at 2.1% rate in Q4 but virus threat looms

Feb. 27, 2020 11:21 AM EST

WASHINGTON (AP) — The U.S. economy grew at an annual rate of 2.1% in the final quarter of last year, but damage from the spreading coronavirus is likely depressing growth in the current quarter and for the rest of the year. The overall pace of growth in the October-December quarter was unchanged from its...

Britain's Prime Minister Boris Johnson gestures during a visit to the Connection, a homelessness centre, at St Martins in the Fields, London, Thursday, Feb. 27, 2020. (Tim Clarke/Pool Photo via AP)

Britain opens EU trade talks with a threat to walk away

Feb. 27, 2020 11:06 AM EST

LONDON (AP) — Britain laid out its opening demands for upcomingtrade talks with the European Union on Thursday,including a blunt threat to walk away from the negotiating table if there is no progress within four months. The two sides appear headed for a rocky first round of negotiations as they try to...

Malaysian interim leader Mahathir Mohamad speaks during a press conference at his office in Putrajaya, Malaysia, Thursday, Feb. 27, 2020. Mahathir says Parliament will pick a new prime minister after the king failed to establish who has majority support following the collapse of the ruling coalition. (AP Photo/Vincent Thian)

Malaysia's Mahathir says Parliament will pick new PM

Feb. 27, 2020 10:48 AM EST

KUALA LUMPUR, Malaysia (AP) — Malaysian interim leader Mahathir Mohamad said Thursday that Parliament will pick a new prime minister next week following the collapse of the ruling alliance, and that snap elections will be called if the vote ends in an impasse. But his former alliance led by rival Anwar...

South Africa giving billions to struggling state-owned firms

Feb. 26, 2020 10:06 AM EST

JOHANNESBURG (AP) — South Africa on Wednesday announced an additional $3.5 billion in government spending for struggling state-owned power utility Eskom and national carrier South African Airways over the next three years as the country’s weak economy faces an electricity crisis. Finance Minister...

Politician Anwar Ibrahim, right, gestures next to his wife Wan Azizah Ismail as they head to their party headquarters after meeting the king in Kuala Lumpur, Malaysia, Wednesday, Feb. 26, 2020. Malaysia's king held unusual consultations with lawmakers for a second day Wednesday to resolve a political vacuum caused by the abrupt collapse of the ruling coalition and the resignation of Prime Minister Mahathir Mohamad. (AP Photo)

Malaysia's Mahathir wants nonpartisan gov't if picked as PM

Feb. 26, 2020 6:45 AM EST

KUALA LUMPUR, Malaysia (AP) — Mahathir Mohamad said Wednesday that he will form a new nonpartisan government if he is elected to return as Malaysia's prime minister, as the king completed two days of consultations with lawmakers to resolve a political vacuum caused by the abrupt collapse of Mahathir's...

FILE - In this Feb. 20, 2020, file photo, people wear masks as they commute during the morning rush hour in Chuo district in Tokyo. China's massive travel restrictions, house-to-house checks, huge isolation wards and lockdowns of entire cities bought the world valuable time to prepare for the global spread of the new virus. (AP Photo/Kiichiro Sato, File)

Coronavirus poses tough challenge for economic policymakers

Feb. 25, 2020 5:35 PM EST

WASHINGTON (AP) — The fast-moving coronavirus isn’t just confounding health officials. It’s also bedeviling policymakers and central bankers who are struggling to assess the economic damage from an outbreak that's reached 37 countries and territories, infected 80,000 people and killed 2,700...

New Seattle NHL team to subsidize public transit for fans

Feb. 25, 2020 4:05 PM EST

SEATTLE (AP) — Seattle’s expansion NHL franchise is trying to make it easier for fans to get to its games in the traffic-clogged city. NHL Seattle announced Tuesday that it will fully subsidize public transit costs for fans with season tickets or single-game tickets. Additionally, the team is...

FILE - In this Nov. 23, 2015 file photo, a customer uses an ATM at a Bank of America in New York.  The banking industry collectively made $233.1 billion in profits in 2019, the Federal Deposit Insurance Corporation said Tuesday, Feb. 25, 2020, the industry's second-most profitable year ever. The slight drop in profits from 2018 is due to the drop in interest rates, which happened in the second half of last year.  (AP Photo/Mark Lennihan, File)

Banks made $233.1 billion in profits in 2019, regulator says

Feb. 25, 2020 2:42 PM EST

NEW YORK (AP) — The banking industry collectively made $233.1 billion in profits in 2019, the Federal Deposit Insurance Corporation said Tuesday, the industry's second-most profitable year ever. The slight drop in profits from 2018 is due to the drop in interest rates, which happened in the second half of...

FILE - This May 8, 2019, file photo shows a lobster atop others in Arundel, Maine.  Maine's congressional delegation announced Tuesday, Feb. 25, 2020, that China is making U.S. lobster eligible for a tariff reduction. Starting the following week, Chinese businesses could apply for a tariff exemption that would let them buy U.S. lobster at a lower price, officials said. ( AP Photo/Rodrique Ngowi, File)

US lobstermen may see relief from steep Chinese tariffs

Feb. 25, 2020 1:37 PM EST

PORTLAND, Maine (AP) — China is making U.S. lobster eligible for a tariff reduction, good news for lobster fishermen who lost a key export market during trade hostilities, Maine's congressional delegation announced Tuesday. The one-year exemption process may exclude $300 million worth of U.S. seafood from...