Latest Economy News

Trump says he doesn't need China trade deal before election

Sep. 20, 2019 6:49 PM EDT

WASHINGTON (AP) — As China and the U.S. near a new round of trade talks, President Donald Trump said Friday he doesn't feel he needs to secure an agreement before next year's election. Trump told reporters he wants a complete deal with China and won't accept one that only addresses some of the differences...

Fresh US-China trade worries erase early gains for stocks

Sep. 20, 2019 6:06 PM EDT

Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble. The selling, which erased modest early gains for the market, snapped a three-week win streak for the S&P 500. The...

23 states sue Trump to keep California's auto emission rules

Sep. 20, 2019 5:29 PM EDT

SACRAMENTO, Calif. (AP) — California sued Friday to stop the Trump administration from revoking its authority to set greenhouse gas emission and fuel economy standards for cars and trucks, enlisting help from 22 other states in a battle that will shape a key component of the nation's climate policy....

How major US stock indexes fared Friday

Sep. 20, 2019 4:54 PM EDT

Stocks finished lower on Wall Street Friday amid new concerns about the progress of trade talks between the U.S. and China. The market turned lower in the afternoon after reports said a Chinese trade delegation had cut short a trip to the U.S. The selling, which erased modest early gains for the market, snapped a...

Fed announces plans to provide more support for repo market

Sep. 20, 2019 4:47 PM EDT

WASHINGTON (AP) — The Federal Reserve will keep pumping cash into a vital but obscure corner of U.S. financial markets in coming weeks. The New York Federal Reserve Bank, which handles the central bank's interactions with financial markets, said Friday that it will offer daily repurchase, or "repo,"...

Markets Right Now: Stocks fall on fresh trade worries

Sep. 20, 2019 4:17 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are finishing lower Friday on concerns about the progress of trade talks between the U.S. and China. The market turned lower in the afternoon after reports said a Chinese trade delegation had cut short a trip...

Brazil aims to deflect criticism over Amazon deforestation

Sep. 20, 2019 2:51 PM EDT

WASHINGTON (AP) — In July, Brazilian President Jair Bolsonaro dismissed global concerns about fires raging in the world's largest rainforest, saying "The Amazon is Brazil's, not yours." Now, the far-right president's government has a new message: Everything's fine, and the rainforest is open for private...

Nurses, auto strikes may be signs of awakening US unions

Sep. 20, 2019 2:50 PM EDT

HIALEAH, Fla. (AP) — Registered nurses staged a one-day strike against Tenet Health hospitals in Florida, California and Arizona on Friday, demanding better working conditions and higher wages as the nation's labor movement has begun flexing muscles weakened by decades of declining membership amid business...

Auto union strike is latest worry in Flint, GM's birthplace

Sep. 20, 2019 2:40 PM EDT

FLINT, Mich. (AP) — The birthplace of General Motors has been on an economic roller-coaster ride for more than a century as the automaker rose, crashed and retooled for changing markets. Now, the city of Flint is again steeling for economic impact amid a nationwide United Auto Workers' strike against the...

German government agrees $60 billion climate policy package

Sep. 20, 2019 1:32 PM EDT

BERLIN (AP) — Under pressure from environmental protests and growing support for the opposition Green party, the German government agreed Friday on a 54 billion euro ($60 billion) package of measures for tackling climate change. German Chancellor Angela Merkel said the deal hammered out by governing...