Latest Economy News

Zimbabwe VP scolded for using soldiers in divorce dispute

Jan. 24, 2020 9:58 AM EST

HARARE, Zimbabwe (AP) — A Zimbabwean judge on Friday described as “frightening” the use of soldiers by the country’s vice president in a divorce-related dispute, and ruled that his wife should regain custody of their children and be allowed to access the family’s luxury home. ...

Pennsylvania's December jobless rate rises, payrolls shrink

Jan. 24, 2020 9:49 AM EST

HARRISBURG, Pa. (AP) — Pennsylvania's unemployment rate rose in December for the fourth straight month, as payrolls shrank and the labor force hit another record high. The state Department of Labor and Industry said Friday that Pennsylvania's unemployment rate rose two-tenths of a percentage point to 4.5%,...

People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Jan. 24, 2020. Shares are mostly higher in quiet trading as China closes down for its week-long Lunar New Year festival. (AP Photo/Eugene Hoshiko)

Tech companies propel US stocks to early gains; Intel jumps

Jan. 24, 2020 9:48 AM EST

NEW YORK (AP) — Technology companies are leading U.S. stocks higher at the open Friday, led by a sharp gain for chipmaker Intel. Investors continue to monitor developments in the international effort to contain the deadly new virus outbreak in China. The S&P 500 rose 4 points, or 0.1%, to 3,330 and the...

Alabama unemployment rate unchanged at 2.7%

Jan. 24, 2020 9:21 AM EST

MONTGOMERY, Ala. (AP) — Alabama's unemployment rate is unchanged at a record-low 2.7%, well below the jobless level from a year ago, state officials said Friday. A news release from the Alabama Department of Labor said the December rate of 2.7% matched the November rate and represented about 2.2 million...

Climate activists Isabelle Axelsson, Loukina Tille, Vanessa Nakate, Greta Thunberg, and Luisa Neubaue,, from left, arrive for a news conference in Davos, Switzerland, Friday, Jan. 24, 2020. The 50th annual meeting of the forum is taking place in Davos from Jan. 21 until Jan. 24, 2020 (AP Photo/Markus Schreiber)

Thunberg brushes off mockery from US finance chief

Jan. 24, 2020 9:16 AM EST

DAVOS, Switzerland (AP) — Teenage climate activist Greta Thunberg has brushed off criticism and mockery from the U.S. Treasury chief, saying Friday his comments have “of course no effect” on her and fellow campaigners. The 17-year-old Swedish star's comments marked a final coda to the...

Norway's crude oil tanker Breiviken is escorted to the Klaipeda oil terminal in Klaipeda, Lithuania, Thursday, Jan. 23, 2020. Belarus started importing oil from Norway Tuesday after its main oil provider Russia suspended supplies earlier this month amid stalled talk on further strengthening economic ties between two countries. (AP Photo/Vita Jureviciene)

Belarus' leader blasts Russia for pushing merger of 2 states

Jan. 24, 2020 8:44 AM EST

KYIV, Ukraine (AP) — The president of Belarus on Friday accused Moscow of pressuring his country to merge with Russia and vowed not to let it happen. Talking to workers of a paper plant in eastern Belarus, Alexander Lukashenko lambasted Russia, the country's main provider of cheap oil and gas, for halting...

German Finance Minister Olaf Scholz, center, looks at European Commissioner for Economy Paolo Gentiloni, front left, and European Central Bank Vice President Luis de Guindos, front right, as he arrives to an European Finance Ministers meeting at the Europa building in Brussels, Tuesday, Jan. 21, 2020. (AP Photo/Francisco Seco)

Germany says UK will face costs from Brexit

Jan. 24, 2020 8:26 AM EST

DAVOS, Switzerland (AP) — German finance minister says he is confident that his country won’t suffer from Brexit but that Britain will inevitably face “consequences” from its decision to leave the European Union. At a panel at the World Economic Forum, Olaf Scholz said Britain’s...

U.S. President Donald Trump's envoy for the Kosovo-Serbia dialogue, Ambassador Richard Grenell speaks during a press conference after a meeting with Serbian President Aleksandar Vucic in Belgrade, Serbia, Friday, Jan. 24, 2020. Grenell is meeting Serbian President Vucic in order to move the dialogue and normalize relations between the two sides.(AP Photo/Darko Vojinovic)

US envoy urges Serbia, Kosovo to drop obstacles to talks

Jan. 24, 2020 7:28 AM EST

BELGRADE, Serbia (AP) — U.S. President Donald Trump’s special envoy for talks between Serbia and Kosovo said Friday that the two Balkan rivals must remove obstacles that have blocked negotiations for more than a year. Kosovo must drop the 100% trade tax on Serbian goods, while Belgrade has to stop...

Greece to change election law, abandon proportional system

Jan. 24, 2020 7:28 AM EST

ATHENS, Greece (AP) — Greece's parliament is set to approve a proposal by the country's center-right government to abolish an election system based on proportional representation but is likely to fall short of the cross-party support needed for the changes to take effect before the next general election....

People stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, Jan. 24, 2020. Shares are mostly higher in quiet trading as China closes down for its week-long Lunar New Year festival. (AP Photo/Eugene Hoshiko)

Stocks rise as virus in China not declared global emergency

Jan. 24, 2020 7:25 AM EST

BANGKOK (AP) — Global stock markets rose Friday after the outbreak of a new virus in China that that has killed 25 people and led to transport limits in several cities was not declared a global emergency. Germany's DAX gained 1.4% to 13,577 while the CAC 40 in Paris rose 1.1% to 6,038, helped also by a...