Latest Economy News

US sanctions squeeze Iran middle class, upend housing sector

Jul. 23, 2019 5:50 AM EDT

TEHRAN, Iran (AP) — Stay-at-home mom Maryam Alidadi used to lead a comfortable middle-class life. The 35-year-old and her husband, a mechanic, could afford a spacious rental apartment in a central neighborhood of Tehran, along with a car, occasional restaurant meals and holidays abroad. Now they are barely...

Global stocks rise on hopes for US-China trade talks

Jul. 23, 2019 5:44 AM EDT

BEIJING (AP) — Global stock markets rose Tuesday on optimism over possible new U.S.-China talks despite heightened Middle East tensions. In early trading, London's FTSE 100 rose 0.6% to 7,556.70 and Frankfurt's DAX climbed 0.85% to 12,392.70. France's CAC-40 jumped 0.3% to 5584.15. On Wall Street, futures...

Asian stocks rise on hopes for US-China trade talks

Jul. 23, 2019 3:15 AM EDT

BEIJING (AP) — Asian stock markets rose Tuesday on optimism over possible new U.S.-China talks despite concerns about rising Middle East tensions. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all climbed. Traders were encouraged by U.S. Treasury Secretary Steven Mnuchin's suggestion last week that...

Deal sealed on federal budget, ensuring no shutdown, default

Jul. 23, 2019 2:16 AM EDT

WASHINGTON (AP) — President Donald Trump and congressional leaders announced Monday a critical debt and budget agreement that's an against-the-odds victory for Washington pragmatists seeking to avoid political and economic tumult over the possibility of a government shutdown or first-ever federal default....

Protester voices: What Puerto Rico demonstrators are saying

Jul. 23, 2019 12:01 AM EDT

SAN JUAN, Puerto Rico (AP) — José Troche, a 64-year-old doctor from Yauco, sat under the shade in a beach chair as he waited for the march to begin. "This right now is a dream," he said as he gestured toward the massive crowd in Puerto Rico's capital. "The people are united." Troche believes Puerto...

The Latest: Trump says he's 'best thing' for Puerto Rico

Jul. 22, 2019 11:56 PM EDT

SAN JUAN, Puerto Rico (AP) — The Latest on protests against Puerto Rico's governor (all times local): 3:25 p.m. President Donald Trump says he's "the best thing that ever happened to Puerto Rico" and he's renewing his attacks on the U.S. territory's officials on a day when tens of thousands are marching on...

Duterte: Can't stop China in disputed seas, won't risk clash

Jul. 22, 2019 9:01 PM EDT

MANILA, Philippines (AP) — Philippine President Rodrigo Duterte said Monday there was no way to stop Chinese from fishing in his country's exclusive economic zone and he would not risk losing Filipino forces in a clash in the disputed South China Sea. "When Xi says 'I will fish,' who can prevent him?"...

Analysis: Hong Kong protests could push China to intervene

Jul. 22, 2019 8:34 PM EDT

BEIJING (AP) — While China doesn't want to intervene in the summer-long protests that have shaken Hong Kong, that doesn't mean it won't. The movement, now in its seventh week, has veered into more dangerous territory on two fronts. Protesters, who had previously besieged the city's legislature and police...

Trump meets with chipmakers on Huawei, other economic issues

Jul. 22, 2019 8:18 PM EDT

WASHINGTON (AP) — President Donald Trump met with executives from several of the nation's leading chip and computer part makers Monday and discussed restrictions his administration has imposed on the sale of components to Chinese telecommunications giant Huawei, the White House said. Huawei is embroiled in...

Financial crisis opens University of Alaska up to layoffs

Jul. 22, 2019 8:05 PM EDT

ANCHORAGE, Alaska (AP) — The University of Alaska Board of Regents decided Monday they could no longer wait to see if the Alaska Legislature will bail them out from severe budget cuts inflicted by Gov. Mike Dunleavy. Meeting in an emergency session, regents voted 10-1 to allow administrators to expedite...