Latest Economy News

The Latest: Israeli PM: EU-Iran deal same as bowing to Nazis

Jul. 15, 2019 2:18 PM EDT

BRUSSELS (AP) — The Latest on tensions in the Persian Gulf amid a crisis between the United States and Iran (all times local): 8:10 p.m. Israel's prime minister has responded to the European Union's efforts to salvage the Iran nuclear deal by comparing it to "European appeasement in the 1930s" of Nazi...

Trump signs order to make American-made goods more American

Jul. 15, 2019 2:09 PM EDT

WASHINGTON (AP) — President Donald Trump is requiring products "Made in America" to be made using more American components if they are to be used by the government. Trump says American-made products used for government projects currently can contain 50 percent foreign components and still be considered...

After years of plenty, auto workers want a bigger slice

Jul. 15, 2019 2:06 PM EDT

DEARBORN, Mich. (AP) — Contract talks between the United Auto Workers and Detroit's three automakers kicked off with the union president departing from the traditionally friendly tone by telling Ford executives that workers want a bigger share of the companies' record profits. While Ford executives talked...

New Jersey governor planning official trip to India

Jul. 15, 2019 2:02 PM EDT

TRENTON, N.J. (AP) — New Jersey Gov. Phil Murphy will be heading to India later this year as part of what he's billing as an economic mission. The Democrat announced Monday he will take the weeklong, six-city trip in September. It's his second overseas trip and will be the third country he's visited as...

Stocks edge lower as bank losses offset technology gains

Jul. 15, 2019 1:56 PM EDT

NEW YORK (AP) — Stocks edged lower in afternoon trading Monday on Wall Street as a decline in banks offset solid gains in technology companies. The losses follow record high finishes for every major stock index last week. The S&P 500 also pushed above 3,000 for the first time. JPMorgan and Bank of...

China's economy growth cools further amid US tariff war

Jul. 15, 2019 1:46 PM EDT

BEIJING (AP) — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%,...

Trade wars cool market for small businesses

Jul. 15, 2019 1:20 PM EDT

NEW YORK (AP) — The market for small businesses cooled for the third straight quarter during the spring as tariffs from the trade war with China made some sellers and buyers uneasy about making a deal. That report comes from BizBuySell.com, an online marketplace for small companies that counted 2,444...

EU works to save unraveling nuclear agreement with Iran

Jul. 15, 2019 1:04 PM EDT

BRUSSELS (AP) — European Union nations threw their diplomatic weight behind the unraveling Iran nuclear deal on Monday, trying to rescue the pact from collapsing under U.S. pressure. The 28 EU foreign ministers insisted that recent Iranian actions surpassing uranium enrichment thresholds set by the 2015...

Markets Right Now: Bank losses pull US stock indexes lower

Jul. 15, 2019 12:57 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 12:45 p.m. Stocks edged lower in midday trading on Wall Street as a decline in banks offset solid gains in technology companies. The losses Monday follow record high finishes for every major stock index last week. The...

Professor: State's economy has downshifted into first gear

Jul. 15, 2019 12:07 PM EDT

PROVIDENCE, R.I. (AP) — A University of Rhode Island economics professor says the state's economy has "downshifted into first gear." Leonard Lardaro said Monday that while seven of 12 indicators he tracks with his Current Conditions Index have shown improvement, none are particularly strong except for...