Latest Economy News

Merkel’s heir apparent takes on critics, wins applause

Nov. 22, 2019 10:22 AM EST

BERLIN (AP) — German Chancellor Angela Merkel’s embattled heir apparent sought to silence critics Friday, throwing down the gauntlet for any member of the Christian Democratic Party to challenge her if they didn’t like the direction in which she was leading the party. Annegret...

US stocks rise toward records, following global tide higher

Nov. 22, 2019 10:14 AM EST

NEW YORK (AP) — U.S. stocks pushed upward in early trading Friday, following a global tide higher, as a week clouded by uncertainty about progress in U.S.-China trade talks comes to a close. Chinese President Xi Jinping told a visiting U.S. business delegation that Beijing is working to “try not to...

Markets Right Now: Stocks start higher on Wall Street

Nov. 22, 2019 9:43 AM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:35 a.m. Technology companies and banks are leading stocks slightly higher on Wall Street in early trading, putting the market on track for its first gain since Monday. Oracle rose 1.2% in the first few minutes of trading...

AP FACT CHECK: Leaders’ questionable claims in U.K. election

Nov. 22, 2019 8:59 AM EST

LONDON (AP) — Claims of ruinous spending sprees and twisted truths are flying in during campaigning for Britain’s Dec. 12 election, in which all 650 seats in the House of Commons are up for grabs. The main parties are touting ambitious spending plans while warning of the alleged economic damage that...

In reversal, Seoul to keep Japan military intelligence pact

Nov. 22, 2019 7:07 AM EST

SEOUL, South Korea (AP) — In a major policy reversal, South Korea said Friday it has decided to continue, at least temporarily, a 2016 military intelligence-sharing agreement with Japan that it previously said it would terminate amid ongoing tensions over wartime history and trade. The announcement, made...

World shares advance on upbeat comments on US-China trade

Nov. 22, 2019 6:27 AM EST

BEIJING (AP) — World stocks rose Friday as upbeat comments by Chinese President Xi Jinping helped quell anxiety over the state of trade talks with the U.S. Britain’s FTSE 100 rose 1% to 7,311, while the CAC 40 in France gained 0.3% to 5,897. Germany’s DAX picked up 0.1% to 13,146. Wall Street...

Isolated Iceland newly vulnerable to computer scams

Nov. 22, 2019 5:59 AM EST

REYKJAVIK, Iceland (AP) — "Hi, I hope you are not busy?" The treasurer of the Icelandic soccer club Afturelding got the email from his manager late in the afternoon, soon before banks were about to close. The words “Sent from my iPhone” were at the bottom, suggesting urgency, and through a...

European Central Bank chief asks governments to help growth

Nov. 22, 2019 5:30 AM EST

FRANKFURT, Germany (AP) — The new president of the European Central Bank, Christine Lagarde, says better-targeted public spending would help support economic growth in the eurozone. In her first official speech Friday, Lagarde indirectly chided countries like Germany that have kept a tight grip on their...

China’s Xi says Beijing wants trade deal, can ‘fight back’

Nov. 22, 2019 5:01 AM EST

BEIJING (AP) — Chinese President Xi Jinping said Friday that Beijing wants to work for a trade deal with the United States but is not afraid to “fight back” to protect its own interests. Echoing the upbeat tone adopted by other Chinese officials in recent days, Xi told a visiting U.S....

The Latest: Japan resumes export control talks with S. Korea

Nov. 22, 2019 4:53 AM EST

SEOUL, South Korea (AP) — The Latest on the dispute between South Korea and Japan (all times local): 6:45 p.m. Japan says it will resume export control talks with South Korea after Seoul notified Tokyo that it will drop action against it at WTO. Japan’s Trade Ministry made the announcement Friday....