Latest Economy News

Markets Right Now: US stocks drift to a mostly lower close

Dec. 13, 2018 4:05 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks drifted to a mostly lower close on Wall Street as trading calmed down following a turbulent few days earlier this week. Small-company stocks fell broadly Thursday, but the Dow Jones Industrial Average of...

Apple to build new Austin hub, expand in other tech hotbeds

Dec. 13, 2018 3:58 PM EST

AUSTIN, Texas (AP) — Apple plans to build a $1 billion campus in Austin, Texas, that will create at least 5,000 jobs ranging from engineers to call-center agents while adding more luster to a Southwestern city that has already become a bustling tech hub. The decision, announced Thursday, comes 11 months...

The Latest: Deal keeps Wisconsin Kimberly-Clark plant open

Dec. 13, 2018 3:40 PM EST

MADISON, Wis. (AP) — The Latest on Wisconsin deal to Kimberly-Clark Corp. (all times local): 2:40 p.m. Wisconsin Gov. Scott Walker has reached a deal with consumer-products giant Kimberly-Clark Corp. worth up to $28 million over five years to keep a plant open and save nearly 400 jobs. The deal Walker...

Feds: US fishermen had good year aided by lobsters, scallops

Dec. 13, 2018 3:36 PM EST

PORTLAND, Maine (AP) — U.S. commercial fishing generated more than $144 billion in sales in 2016, buoyed by growth in key species such as sea scallops and American lobsters, the federal government reported on Thursday. The National Oceanic and Atmospheric Administration said the total of $144.3 billion in...

Delta's 2019 forecast helps send airline stocks lower

Dec. 13, 2018 3:03 PM EST

Delta Air Lines said Thursday that its profit will rise next year but not as much as Wall Street expected, and that helped push airline stocks lower. Forecasts of slower global economic growth are weighing on airlines because a slowdown would likely hurt demand for travel, which has been strong throughout 2018....

Banks, retailers take stocks lower; smaller companies sink

Dec. 13, 2018 3:02 PM EST

NEW YORK (AP) — U.S. stocks are slipping Thursday as banks and retailers fall and smaller companies continue to take steep losses. Safer, high-dividend stocks in real estate and utilities are climbing. It's been a relatively calm day on Wall Street after stocks made several wild wings earlier in the week....

US budget deficit hits record $204.9 billion for November

Dec. 13, 2018 2:55 PM EST

WASHINGTON (AP) — The federal budget deficit surged to a record for the month of November of $204.9 billion, but a big part of the increase reflected a calendar quirk. In its monthly budget report, the Treasury Department said Thursday that the deficit for November was $66.4 billion higher than the...

Solar industry blames tariffs for canceled, delayed projects

Dec. 13, 2018 1:53 PM EST

NEW YORK (AP) — The solar industry is blaming tariffs for delays and cancellations of major solar energy projects. An estimated $8 billion worth of utility-scale projects were canceled or put on hold for the five-year period that ends in 2022, according to a new report from the Solar Energy Industry...

EU leaders agree to prolong Russia sanctions over Ukraine

Dec. 13, 2018 1:34 PM EST

BRUSSELS (AP) — A top European Union official says EU leaders have agreed to prolong economic sanctions against Russia over its destabilization of Ukraine. The measures targeting Russia's economy were due to expire next month, but lifting them depends on whether the EU considers that Russia is respecting...

Report: Walker strikes Kimberly deal his successor couldn't

Dec. 13, 2018 1:12 PM EST

MADISON, Wis. (AP) — Wisconsin Gov. Scott Walker planned Thursday to announce a $25 million deal with paper-products giant Kimberly-Clark Corp. using a power that his Democratic successor would not have under a bill passed during a lame-duck legislative session last week, according to a published report....