Latest Economy News

Russia cuts off gas exports to Finland in symbolic move

May. 21, 2022 09:26 AM EDT

HELSINKI (AP) — Russia halted gas exports to neighboring Finland on Saturday, a highly symbolic move that came just days after the Nordic country announced it wanted to join NATO and marked a likely end to Finland's nearly 50 years of importing natural gas from Russia. The measure...

US, SKorea open to expanded military drills to deter North

May. 21, 2022 07:20 AM EDT

SEOUL, South Korea (AP) — U.S. President Joe Biden and South Korean President Yoon Suk Yeol said after meeting Saturday that they will consider expanded joint military exercises to deter the nuclear threat from North Korea at a time when there's little hope of real diplomacy on the matter. ...

U.S., other APEC delegates walk out on Russian speaker

May. 21, 2022 06:18 AM EDT

BANGKOK (AP) — Delegates from the United States and four other nations staged a walkout Saturday when a representative from Russia began his opening remarks at a meeting of trade ministers of the Asia-Pacific Economic Cooperation group in the Thai capital, officials said. A...

North Korea reports more fevers as Kim claims virus progress

May. 21, 2022 03:50 AM EDT

SEOUL, South Korea (AP) — North Korea said Saturday it found nearly 220,000 more people with feverish symptoms, even as leader Kim Jong Un claimed progress in slowing a largely undiagnosed spread of COVID-19 across his unvaccinated populace and hinted at easing virus restrictions to nurse a...

Microsoft’s TechSpark project to expand tech in Mississippi

May. 21, 2022 01:05 AM EDT

JACKSON, Miss. (AP) — Long Beach native and Jackson resident JJ Townsend will spearhead a new effort in Mississippi by Microsoft called TechSpark. The program is part of an effort to expand technology education and business development in regions like Mississippi that are short on...

Final-hour rally yanks Wall Street from maw of bear market

May. 20, 2022 21:57 PM EDT

NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much...

The AP Interview: US trade rep. sees opportunity in recovery

May. 20, 2022 20:13 PM EDT

BANGKOK (AP) — With world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia’s invasion of Ukraine, the United States has an “incredible opportunity” to engage with other nations on a common playing field and forge...

Live updates | Zelenskyy: Russia should pay for destruction

May. 20, 2022 18:08 PM EDT

KYIV, Ukraine -- President Volodymyr Zelenskyy devoted his nightly video address to Ukraine’s demand that Russia be held financially responsible for the damage its forces are inflicting on Ukraine. Just on Friday, he noted, the Russian army fired a missile at the northeastern...

Hyundai announces $5.5B electric vehicle plant in Georgia

May. 20, 2022 16:59 PM EDT

ELLABELL, Ga. (AP) — Hyundai Motor Group confirmed Friday the company will spend $5.5 billion on a huge electric vehicle plant near Savannah that will employ thousands — a deal Georgia’s governor called the largest economic development project in the state’s history. Hyundai...

Florida lawmakers to meet for session on property insurance

May. 20, 2022 16:54 PM EDT

TALLAHASSEE, Fla. (AP) — Florida lawmakers return to the Capitol next week for a special legislative session aimed at addressing problems in the state’s turbulent property insurance market, a persistent and multifaceted crisis in a region vulnerable to damaging hurricanes. It is...