Latest Economy News

Dems hope to harness outrage, sadness after abortion ruling

Jun. 25, 2022 00:18 AM EDT

YARDLEY, Pa. (AP) — The shock quickly turned to sadness for Victoria Lowe. The 37-year-old lawyer, working outside a cafe in suburban Bucks County, Pennsylvania, said she couldn't believe the Supreme Court stripped away the constitutional right to abortion that women have had her...

Carnival shares cruise higher on gains in revenue, bookings

Jun. 24, 2022 19:20 PM EDT

MIAMI (AP) — Long-battered shares of Carnival Corp. jumped more than 12% Friday as the cruise line owner reported a big increase in revenue, occupancy levels, and bookings for future trips. However, the company posted a $1.83 billion second-quarter loss and said the effects of the...

Stocks rally, driving Wall Street to a rare winning week

Jun. 24, 2022 16:48 PM EDT

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market's brutal sell-off this year. The benchmark index rose 3.1%, with technology and banks leading...

How major US stock indexes fared Friday 6/24/2022

Jun. 24, 2022 16:29 PM EDT

Wall Street rallied on Friday, lifting the S&P 500 3.1% for its best gain in two years. The benchmark index also ended the week 6.4% higher, erasing the brutal loss it took a week earlier. It was just the second winning week for the S&P 500 in the last 12. ...

With accounts flush, budget talks come down to schools aid

Jun. 24, 2022 15:10 PM EDT

HARRISBURG, Pa. (AP) — With a week to go until the state's budget deadline, Gov. Tom Wolf and leaders of the Republican-controlled Legislature are working through their remaining differences as they try to produce an agreement on a roughly $42 billion budget plan that they say will marshal...

Aftershock in Afghanistan as quake toll rises to 1,150 dead

Jun. 24, 2022 08:49 AM EDT

GAYAN, Afghanistan (AP) — An aftershock took more lives Friday and threatened to pile even more misery on an area of eastern Afghanistan reeling from a powerful earthquake that state media said killed 1,150 people this week. Among the dead from Wednesday's magnitude 6 quake are...

Text from Supreme Court ruling overturning Roe v. Wade

Jun. 24, 2022 15:03 PM EDT

The Associated Press is making available the full text of the Supreme Court’s ruling overturning the nationwide right to abortion: Justice Alito delivered the opinion of the Court. Abortion presents a profound moral issue on which Americans hold sharply conflicting...

Solidarity behind Ukraine's Russia fight atop summit agendas

Jun. 24, 2022 14:06 PM EDT

WASHINGTON (AP) — Back-to-back world leader summits in Europe opening this weekend will focus on uniting Western nations behind Ukraine in its fight against Russia's invasion and overcoming Turkey's opposition to NATO membership for Finland and Sweden. The Group of Seven leading...

EU leaders tackle inflation, energy shocks from Russia's war

Jun. 24, 2022 12:33 PM EDT

BRUSSELS (AP) — A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention Friday to the severe economic turbulence from Russia’s war in the neighboring country as the conflict's full impact sinks in and the threat of recession rises. ...

Pakistan stock market plunges on new govt tax on industries

Jun. 24, 2022 10:29 AM EDT

ISLAMABAD (AP) — Pakistan’s stock exchange briefly halted trading Friday after its benchmark index plunged sharply following an announcement by the newly elected Prime Minister Shahbaz Sharif that he was imposing a new, 10% tax on major industries. Sharif, who appeared on the...