Latest Economy News

China's economic growth weakens amid construction slowdown

Oct. 17, 2021 22:18 PM EDT

BEIJING (AP) — China’s economic growth sank in the latest quarter as a slowdown in construction and curbs on energy use weighed on its recovery from the coronavirus pandemic. The world’s second-largest economy grew by 4.9% over a year ago in the three months ending...

China's economic growth sinks to 4.9% over a year ago in latest quarter amid construction slowdown, energy controls

Oct. 17, 2021 22:01 PM EDT
BEIJING (AP) — China's economic growth sinks to 4.9% over a year ago in latest quarter amid construction slowdown, energy controls.

Workers near Zion homeless amid housing crunch, tourism bump

Oct. 17, 2021 08:04 AM EDT

VIRGIN , Utah (AP) — A hot wind whipped across the red sand just outside of Zion National Park where a woman and her dogs live in a 1970s camper because she can’t find housing in Springdale, where she works. After four years of working at Springdale’s Bit and Spur...

ASEAN downgrades Myanmar presence in summit in major rebuke

Oct. 16, 2021 20:27 PM EDT

KUALA LUMPUR, Malaysia (AP) — Southeast Asian foreign ministers have agreed to downgrade Myanmar's participation in an upcoming summit in their sharpest rebuke yet of its leaders following a Feb. 1 military takeover. Myanmar objected to the decision by the Association...

COVID-19 underscores need to diversify Tahoe tourist economy

Oct. 16, 2021 19:32 PM EDT

RENO, Nev. (AP) — The COVID-19 pandemic helped expose the growing vulnerability of Lake Tahoe’s increasingly tourism-dependent economy as housing costs balloon, year-round residency declines and more workers commute from afar or seek jobs elsewhere, a new report says. ...

Cyprus, Egypt sign deal to speed up electricity grid linkage

Oct. 16, 2021 08:48 AM EDT

NICOSIA, Cyprus (AP) — An undersea cable linking the electricity grids of Cyprus and Egypt could be key to helping both countries transition to a green economy and meet their commitments on battling climate change, the Cypriot energy minister said Saturday. Minister...

Analysis: Beirut street battles may spell even darker times

Oct. 16, 2021 03:09 AM EDT

BEIRUT (AP) — The most powerful men in Lebanese politics have been in charge for decades, some since the early 1970s. They’ve survived civil war, assassinations, uprisings and other turmoil, hanging on to power for decades in a turbulent, unforgiving region. Now,...

Company behind Tether 'token' fined $41M by US regulators

Oct. 15, 2021 19:04 PM EDT

The company behind a digital token called Tether has agreed to pay $41 million to settle charges that it misled investors by claiming the token was fully backed at all times by U.S. dollars and other fiat currencies. The Commodity Futures Trading Commission said Friday it...

Stocks end higher, giving S&P 500 its best week since July

Oct. 15, 2021 16:46 PM EDT

Wall Street added to its recent gains Friday as stocks closed higher, driving the S&P 500 to its best week since July. The S&P 500 rose 0.7% for its third straight gain and ended the week 1.8% higher. The Dow Jones Industrial Average rose 1.1% and the Nasdaq...

US, allies step up pressure on Iran to return to nuke talks

Oct. 15, 2021 16:06 PM EDT

WASHINGTON (AP) — The United States and its closest partners are stepping up pressure on Iran to return to stalled nuclear negotiations, warning that it will face greater international isolation, new economic penalties and possibly military action if it forges ahead with its atomic program....