Latest Economy News

The Latest: US says Turkey risks more sanctions over pastor

Aug. 16, 2018 4:00 PM EDT

ANKARA, Turkey (AP) — The Latest on Turkey's currency crisis (all times local): 11:00 p.m. The Trump administration says Turkey could face additional sanctions if an American pastor detained on espionage and terrorism-related charges isn't quickly released. Treasury Secretary Steven Mnuchin (mih-NOO'-shin)...

Report: Weak farm economy leading to fewer farm loans

Aug. 16, 2018 3:57 PM EDT

OMAHA, Neb. (AP) — More farm loan applications are being rejected in rural parts of 10 Plains and Western states in reaction to weak farm commodity prices and income. The latest Rural Mainstreet survey says nearly one-third of bank CEOs reported rejecting a higher percentage of farm loans, while nearly 55...

US stocks rally ahead of China trade talks; Walmart surges

Aug. 16, 2018 3:47 PM EDT

NEW YORK (AP) — Stocks are surging on Wall Street Thursday as China and the U.S. prepare to hold their first trade discussions in months, a potential sign of progress toward ending the trade war between them. Walmart soared after reporting its strongest growth in sales in more than a decade. Metals prices...

Libertarian Gary Johnson throws US Senate race in chaos

Aug. 16, 2018 3:39 PM EDT

ALBUQUERQUE, N.M. (AP) — Former Libertarian presidential candidate Gary Johnson said in seeking to make history and capture a U.S. Senate seat in New Mexico he'll have to give up a few of his favorite activities: marathon biking rides, hanging out in his northern New Mexico "dream" home and tuning out news...

Connecticut lost 1,200 jobs in July, jobless rate unchanged

Aug. 16, 2018 3:36 PM EDT

HARTFORD, Conn. (AP) — Preliminary figures show Connecticut lost 1,200 net jobs in July, but a state labor official says job growth still remains strong. Andy Condon, director of the Department of Labor's Office of Research, said Thursday the decline "does not materially affect the growth we have seen to...

Turkish finance chief tries to reassure investors on crisis

Aug. 16, 2018 3:28 PM EDT

ANKARA, Turkey (AP) — Turkey's finance chief tried to reassure thousands of international investors on a conference call Thursday, in which he pledged to fix the economic troubles that have seen the country spiral into a currency crisis. The national currency recovered somewhat from record lows hit earlier...

SC governor suggests patience on Trump's tariff proposals

Aug. 16, 2018 2:59 PM EDT

COLUMBIA, S.C. (AP) — As the national debate over potential implications of the Trump administration's tariff plans continues, one of the president's earliest allies stressed this week that he's made the administration aware of South Carolina's concerns but still thinks a wait-and-see approach is the best...

AAA: Texas retail gasoline prices fall 2 cents this week

Aug. 16, 2018 2:47 PM EDT

COPPELL, Texas (AP) — The average retail gasoline price in Texas fell by 2 cents this week to settle at $2.61 for a gallon of unleaded. AAA Texas on Thursday reported that the average price at the pump statewide fell slightly from $2.63 a gallon last week. The average price drivers across the U.S. are...

New Jersey unemployment rate falls to 4.2 percent

Aug. 16, 2018 2:44 PM EDT

TRENTON, N.J. (AP) — New Jersey employers added 13,000 jobs in July and the unemployment rate fell from 4.3 percent to 4.2 percent. The New Jersey Department of Labor and Workforce Development announced the Bureau of Labor Statistics data from last month on Thursday. The department says the job growth was...

The Latest: Kudlow: Chinese economy is 'terrible'

Aug. 16, 2018 2:26 PM EDT

WASHINGTON (AP) — The Latest on news that the United States and China are resuming trade talks, raising hopes for the resolution of a dispute between the world's two biggest economies (all times local): ___ 1:42 p.m. White House economic adviser Larry Kudlow says the Chinese economy "looks terrible." Asked...