Latest Business News

Commuters using protective gear amid the coronavirus pandemic sit inside a public bus in Lima, Peru, Thursday, Aug. 13, 2020. (AP Photo/Rodrigo Abd)

The Latest: Denmark adds Belgium, Malta to travel advisory

Aug. 14, 2020 3:54 AM EDT

COPENHAGEN, Denmark — Denmark has added Belgium and Malta to its list of European nations where non-essential travels are not recommended as the Scandinavian country has seen a flare-up of coronavirus cases. The Scandinavian country’s reason for doing so is that both nations have seen more than 30...

This photo shows a night view of city center in Kuala Lumpur, Malaysia on Aug. 10, 2020. Malaysia has reported its economy contracted 17% in the last quarter in its worst downturn since the global financial crisis. (AP Photo/Vincent Thian)

Malaysian economy shrinks 17% in worst contraction on record

Aug. 14, 2020 3:46 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysia has reported its economy contracted 17% in the last quarter in its worst downturn since the global financial crisis. The central bank said the real rate of annual growth was 16.5% in the April-June quarter, down from a 2% contraction in the first quarter of the year....

A Naga wearing a face mask leans on a guitar and sits by a deserted road in Kohima, capital of the northeastern Indian state of Nagaland, Thursday, Aug. 13, 2020. India has the third-highest caseload after the United States and Brazil, but only the fifth-highest death toll, and authorities say the fatality rate has dropped below 2% for the first time. (AP Photo/Yirmiyan Arthur)

Asia Today: India's virus death toll rises, Seoul cases jump

Aug. 14, 2020 3:28 AM EDT

NEW DELHI (AP) — India’s coronavirus death toll overtook Britain to become the fourth-highest in the world with another single-day record increase in cases Friday. According to the Health Ministry, India reported 1,007 deaths in the past 24 hours. Its total rose to 48,040 deaths, behind the United...

New Zealand Prime Minister Jacinda Ardern reacts during a press conference in Wellington, New Zealand, Friday, Aug. 14, 2020. Ardern announced that the three-day lockdown in Auckland would be extended by another 12 days at level 3, the rest of New Zealand will stay at level 2 restrictions as health authorities investigate the source of the first domestic coronavirus outbreak in more than three months. (Mark Mitchell/New Zealand Herald via AP)

New Zealand extends Auckland lockdown as virus cluster grows

Aug. 14, 2020 3:15 AM EDT

WELLINGTON, New Zealand (AP) — New Zealand's government on Friday extended a lockdown of its largest city Auckland for another 12 days as it tries to stamp out its first domestic coronavirus outbreak in more than three months. The outbreak has grown to 30 people and extended beyond Auckland for the first...

FILE -In this June 16, 2020 file photo, a sign for a Wall Street building is shown in New York.  Stocks are opening mostly lower on Wall Street Thursday, Aug. 13, a day after the S&P 500 closed just below its pre-pandemic record high. (AP Photo/Mark Lennihan, File)

Asian shares mixed on weak China data, worries over pandemic

Aug. 14, 2020 3:09 AM EDT

TOKYO (AP) — Asian shares were mostly higher in cautious trading Friday as investors studied fresh data out of China showing that its recovery remains subdued. China reported factory output rose 4.8% from a year earlier in July, on a par with June’s increase. Retail sales fell 1.1%, as consumers...

FILE - In this Friday, May 22, 2020, file photo, a sold sign sits in front of a house in Brighton, N.Y. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Ted Shaffrey, File)

Home prices climb to record in pandemic as buyers seek space

Aug. 14, 2020 3:08 AM EDT

NEW YORK (AP) — A renter most of his adult life, Clarence Swann became fearful that landlords would use the coronavirus pandemic as an excuse to gouge their tenants. So, with a desire to move near family, the retired veteran bought his first home last month at the age of 74. Swann said he used his veteran...

In this photo released by Indonesian Presidential Palace, Indonesian President Joko Widodo, center, dressed in a traditional outfit, delivers his national address before the parliament members in Jakarta, Indonesia, Friday, Aug. 14, 2020. Indonesia's president called on all citizens to turn the COVID-19 crisis into an advancement opportunity and pledged health care reforms in an address Friday ahead of the country's 75th anniversary of independence. (Agus Suparto/Presidential Palace via AP)

Widodo pledges health, economic reforms amid virus crisis

Aug. 14, 2020 3:00 AM EDT

JAKARTA, Indonesia (AP) — Indonesia’s president called on all citizens to turn the COVID-19 crisis into an advancement opportunity and pledged health care reforms in an address Friday ahead of the country's 75th anniversary of independence. Only half of the 575 lawmakers were in Parliament for...

People wearing face masks to protect against the coronavirus walk through a shopping mall in Beijing, Friday, Aug. 14, 2020. China's factory output rose just under 5% last month from a year earlier while retail sales fell slightly, suggesting the country's recovery from the coronavirus pandemic remains muted. (AP Photo/Mark Schiefelbein)

China factory output flat, retail sales slip in July

Aug. 14, 2020 2:10 AM EDT

BEIJING (AP) — China's factory output rose just under 5% last month from a year earlier while retail sales fell slightly, suggesting the country's recovery from the coronavirus pandemic remains muted. The data reported on Friday show that despite a rebound in Chinese exports, domestic demand in the...

FILE - In this Oct. 10, 2019 file photo a car drives through a darkened Montclair Village as Pacific Gas & Electric power shutdowns continue in Oakland, Calif. Pacific Gas and Electric promised regulators Thursday, Aug. 13, 2020, that it has learned from its mishandling of deliberate blackouts and won't disrupt as many people's lives during the pandemic this year, when the utility expects to rely on outages to prevent its outdated grid from starting deadly fires. (AP Photo/Noah Berger, File)

PG&E tells regulators upcoming outages will go more smoothly

Aug. 14, 2020 1:17 AM EDT

SAN RAMON, Calif. (AP) — Pacific Gas and Electric promised regulators Thursday that it has learned from its mishandling of deliberate blackouts and won’t disrupt as many people’s lives during the pandemic this year, when the utility expects to rely on outages to prevent its outdated grid from...

FILE -In this June 16, 2020 file photo, a sign for a Wall Street building is shown in New York.  Stocks are opening mostly lower on Wall Street Thursday, Aug. 13, a day after the S&P 500 closed just below its pre-pandemic record high. (AP Photo/Mark Lennihan, File)

Asian shares mixed on weak China data, worries over pandemic

Aug. 14, 2020 12:13 AM EDT

TOKYO (AP) — Asian shares were mixed on Friday as investors studied fresh data out of China showing that its recovery remains subdued. Shares rose in Japan and Australia, but fell in Hong Kong, South Korea and Shanghai. China said Friday that its factory output rose 4.8% from a year earlier in July, on a...