Latest Economic outlook News

The New York Stock Exchange is seen in New York, Monday, Nov. 23, 2020.   U.S. stocks are hovering close to their record levels Thursday, Dec. 3, as Wall Street takes a pause following its rocket ride higher on optimism about a coming COVID-19 vaccine.  (AP Photo/Seth Wenig)

US stocks tick higher, as Wall Street coasts following surge

Dec. 3, 2020 12:28 PM EST

NEW YORK (AP) — U.S. stocks are inching further into record heights Thursday, as Wall Street continues to coast following its rocket ride on hopes for coming COVID-19 vaccines. The S&P 500 was up 0.2% in afternoon trading, a day after inching up to set another all-time high. The Dow Jones Industrial...

A student checks the time as others wait for the start of the annual college entrance examination amid the coronavirus pandemic at an exam hall in Seoul, South Korea, Thursday, Dec. 3, 2020. South Korean officials are urging people to remain at home if possible and cancel gatherings as about half a million students prepare for a crucial national college exam. (Kim Hong-Ji/Pool Photo via AP)

The Latest: Young S. Koreans taking crucial university exam

Dec. 3, 2020 3:45 AM EST

SEOUL, South Korea — Hundreds of thousands of masked students in South Korea, including 35 COVID-19 patients, are taking the country’s highly competitive university entrance exam despite a viral resurgence that has forced authorities to toughen social distancing rules. The Education Ministry says...

People wearing face masks walk past a bank's electronic board showing the Hong Kong share index in Hong Kong, Thursday, Dec. 3, 2020. Shares were mostly higher in Asia on Thursday as investors were encouraged by progress toward rolling out coronavirus vaccines and talk of reaching a compromise on new help for the U.S. economy.(AP Photo/Kin Cheung)

Asian shares inch higher on optimism over vaccines, stimulus

Dec. 2, 2020 10:33 PM EST

Shares were mostly higher in Asia on Thursday, helped by progress toward rolling out coronavirus vaccines and talk of reaching a compromise on new help for the U.S. economy. Shares rose in Hong Kong, Tokyo, Seoul and Sydney but fell in Shanghai. The rollout of a vaccine in the U.S. could begin this month, if...

A page hands out committee assignments in the South Carolina House on Wednesday, Dec. 2, 2020, in Columbia, S.C. There were no real surprises in the committee assignments. (AP Photo/Jeffrey Collins)

Same leadership, same issues for SC's budget committee

Dec. 2, 2020 3:45 PM EST

COLUMBIA, S.C. (AP) — South Carolina's Republican leaders made no major changes on Wednesday to their main House committees, and the group that handles the budget remains stuck with the same problems, only this time they're looking at steep cuts due to the coronavirus pandemic. Republican Rep. Murrell...

A woman walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Dec. 2, 2020. Asian markets are mixed after the U.S. benchmark S&P 500 set another record. (AP Photo/Koji Sasahara)

Asian shares mixed after S&P 500 sets fresh record high

Dec. 1, 2020 10:45 PM EST

Asian shares advanced Wednesday after Wall Street kicked off December with more milestones, as a broad rally pushed the S&P 500 and Nasdaq composite to new highs. Australia reported its economy expanded 3.3% in the July-September quarter as the country recovered from pandemic lockdowns. That lifted the...

People queue to enter Louis Vuiton store on the Champs Elysee avenue, in Paris, Tuesday, Dec. 1, 2020. Across Europe, governments are reopening their economies as they get a handle on a second virus surge, but only gradually, and partially. Vast cobblestone plazas stand empty this festive season instead of hosting Christmas markets that usually electrify historic cities. (AP Photo/Christophe Ena)

Glimmers of hope for world economy, but dangers lurk

Dec. 1, 2020 11:26 AM EST

PARIS (AP) — Vendors broke out in applause in the flagship Galeries Lafayette department store in Paris as eager shoppers returned for the first time in a month, after yet another virus lockdown. The reopening won’t be enough to make up for sales lost during the pandemic - but reflects the glimmer...

Fed chair Powell says economic improvement has moderated in recent months with outlook 'extraordinarily uncertain'

Nov. 30, 2020 4:31 PM EST
WASHINGTON (AP) — Fed chair Powell says economic improvement has moderated in recent months with outlook 'extraordinarily uncertain.'
State Department spokeswoman Jen Psaki stands in on a meeting in Washington, Friday, Feb. 27, 2015. President-elect Joe Biden will have an all-female communications team at his White House, led by campaign communications director Kate Bedingfield. Jen Psaki will be his press secretary. (AP Photo/Pablo Martinez Monsivais)

Biden chooses an all-female senior White House press team

Nov. 29, 2020 11:13 PM EST

WILMINGTON, Del. (AP) — President-elect Joe Biden will have an all-female senior communications team at his White House, reflecting his stated desire to build out a diverse White House team as well as what’s expected to be a return to a more traditional press operation. Biden campaign communications...

Black Friday shoppers wear face masks as the leave Saks Fifth Avenue flagships store empty handed, Friday, Nov. 27, 2020, in New York. (AP Photo/Mary Altaffer)

Virus keeps Black Friday crowds thin, shoppers shift online

Nov. 27, 2020 6:57 PM EST

NEW YORK (AP) — The raging coronavirus pandemic kept crowds thin at malls and stores across the country on Black Friday, but a surge in online shopping offered a beacon of hope for struggling retailers after months of slumping sales and businesses toppling into bankruptcy. In normal times, Black Friday is...

Christmas lights are lit up on New Bond Street in Mayfair, London, Tuesday, Nov. 24, 2020. Haircuts, shopping trips and visits to the pub will be back on the agenda for millions of people when a four-week lockdown in England comes to an end next week, British Prime Minister Boris Johnson said Monday. (AP Photo/Alberto Pezzali)

UK cuts overseas aid after worst recession in over 300 years

Nov. 25, 2020 3:23 PM EST

LONDON (AP) — The British government faced fury Wednesday after ditching its long-standing target for overseas aid in the wake of what it described as the deepest recession in over three centuries. In a statement to lawmakers, Treasury chief Rishi Sunak said the target to allocate 0.7% of national income...