Latest Economy News

Iranian leaders defiant in face of Trump's move on sanctions

Apr. 24, 2019 7:35 AM EDT

TEHRAN, Iran (AP) — Iranian leaders are defiant in the wake of President Donald Trump's decision to impose sanctions on countries that import Iranian oil, vowing to respond to America's move. The U.S. announced the sanctions in November but some countries got temporary waivers that allowed them to import...

World stocks subdued as Wall Street eyes new record highs

Apr. 24, 2019 7:31 AM EDT

BANGKOK (AP) — Stock markets were subdued in Europe and Asia on Wednesday as investors look to corporate earnings for clues on whether the S&P 500 will hit another all-time record close. The FTSE 100 in Britain lost 0.3% to 7,502 while the CAC 40 in France was flat at 5,590. The DAX in Germany gained...

UK begins search for new Bank of England governor

Apr. 24, 2019 6:53 AM EDT

LONDON (AP) — The British government on Wednesday kick-started the process to appoint the successor to Mark Carney as governor of the Bank of England, and indicated it was not limiting its search to British candidates. Carney, a Canadian who in July 2013 became the first foreigner to head the Bank of...

German business outlook darkens amid trade slowdown

Apr. 24, 2019 6:01 AM EDT

FRANKFURT, Germany (AP) — An index of German business optimism fell in April as Europe's largest economy struggles with a slowdown in trade and manufacturing even as it finds support from a strong labor market. The Ifo institute said Wednesday its business climate index slipped to 99.2 points from 99.7...

Asian markets lower after S&P 500, Nasdaq hit record highs

Apr. 24, 2019 1:09 AM EDT

BANGKOK (AP) — Shares were mostly lower in Asia on Wednesday as the rally on Wall Street, where the S&P 500 logged an all-time record high close, ran out of steam. Japan's Nikkei 225 index lost 0.6% to 22,136.56 and the Hang Seng in Hong Kong fell 0.9% to 29,707.64. The Shanghai Composite index...

Wall Street's in record ground. What do investors do now?

Apr. 24, 2019 12:06 AM EDT

The S&P 500 just hit an all-time high, recovering from last year's dramatic plunge. The economy seems to be on fairly solid footing, still it's anyone's guess what happens next for the stock market. So what does this mean for the average investor? Here are answers to some questions about where stocks stand...

Kim looks to Russia as sanctions bite North Korea's economy

Apr. 23, 2019 10:43 PM EDT

SEOUL, South Korea (AP) — Two months after he failed to win a badly needed easing of sanctions from President Donald Trump, North Korean leader Kim Jong Un is traveling to Russia in a possible attempt to win its help as the U.S.-led trade sanctions hurt his country's already-struggling economy. There are...

North Korea's Kim will go into Putin summit needing a win

Apr. 23, 2019 10:36 PM EDT

TOKYO (AP) — When North Korean leader Kim Jong Un meets with Russian President Vladimir Putin for their first one-on-one meeting, he will have a long wish list and a strong desire to notch a win after the failure of his second summit with President Donald Trump. But it's not entirely clear how much Putin...

White House announces more trade talks with China

Apr. 23, 2019 9:29 PM EDT

WASHINGTON (AP) — The White House says a U.S. delegation will travel to Beijing next week to continue trade negotiations, and a Chinese delegation will return to Washington for additional talks starting May 8. President Donald Trump has slapped tariffs on $250 billion in Chinese imports in a dispute over...

S&P 500, Nasdaq close at record highs as earnings roll in

Apr. 23, 2019 7:54 PM EDT

The S&P 500 hit an all-time high Tuesday, marking the stock market's complete recovery from a nosedive at the end of last year. The benchmark index's previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S....