US employers added just 12,000 jobs last month as hurricanes and strikes sharply reduce payrolls

WASHINGTON (AP) — America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential...

Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump

NEW YORK (AP) — U.S. stock indexes edged lower Wednesday after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% after drifting between small gains and losses several times, though it’s still near its all-time...

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

WASHINGTON (AP) — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the...

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

Russia's central bank raises interest rate to 21% to fight inflation boosted by military spending

MOSCOW (AP) — Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to stem growing inflation as massive government spending on the military amid the fighting in Ukraine strains the economy’s capacity to produce goods and...

Average rate on a 30-year mortgage in the US rises again to highest level in nearly 3 months

The average rate on a 30-year mortgage in the U.S. rose again this week, reaching its highest level in nearly three months. The rate rose to 6.54% from 6.44% last week, mortgage buyer Freddie Mac said Thursday. Despite the recent uptick, the average rate is down from a year ago,...

IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms

WASHINGTON (AP) — The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday. She also urged Chinese leaders to take more decisive action to jump-start their...

IMF's view: The global fight against high inflation is 'almost won'

WASHINGTON (AP) — The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool...

Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders

WASHINGTON (AP) — Treasury Secretary Janet Yellen told world financial leaders Tuesday that the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S....

Israel's war against militants is expensive. Paying the bill could force tough choices

On top of the grievous toll in human life and misery, Israel's war against the Hamas and Hezbollah militant groups has been expensive, and the painfully high financial costs are raising concerns about the long-term effect of the fighting on the country's economy. Military spending...