Latest Economy News

The AP Interview: UN chief warns China, US to avoid Cold War

Sep. 20, 2021 12:57 PM EDT

UNITED NATIONS (AP) — Warning of a potential new Cold War, the head of the United Nations implored China and the United States to repair their “completely dysfunctional” relationship before problems between the two large and deeply influential countries spill over even further into the...

UK gov't says lights will stay on despite energy price surge

Sep. 20, 2021 12:35 PM EDT

LONDON (AP) — Britain's business secretary said on Monday that there is no danger that people won't be able to heat their homes this winter after a surge in natural gas prices forced him to hold emergency talks with energy suppliers and consumer groups. Kwasi Kwarteng...

Kansas passed on earlier plan to upgrade unemployment system

Sep. 20, 2021 12:29 PM EDT

TOPEKA, Kan. (AP) — A software company urged Kansas to uprade its computer system for handling claims for unemployment benefits but the state didn't heed that advice five years before a flood of fraudulent claims across the U.S. during the coronavirus pandemic. ...

US easing foreign travel restrictions; vaccinations required

Sep. 20, 2021 12:24 PM EDT

WASHINGTON (AP) — The U.S. will ease foreign travel restrictions to the country beginning in November, allowing foreigners in if they have proof of vaccination and a negative COVID-19 test, the White House said Monday. The new rules will replace a hodgepodge of...

Inflation forces homebuilders to take it slow, raise prices

Sep. 20, 2021 12:17 PM EDT

LOS ANGELES (AP) — Even in the hottest U.S. housing market in more than a decade, new home construction has turned into a frustratingly uncertain and costly proposition for many homebuilders. Rising costs and shortages of building materials and labor are rippling across...

US stocks fall on fears of contagion from China real estate

Sep. 20, 2021 12:01 PM EDT

Stocks slumped on Wall Street Monday in a broad sell-off that extends an already weak streak for major indexes. Worries about debt-engorged Chinese property developers — and the damage they could do to investors worldwide if they default — are rippling across markets....

Fed likely to signal a coming pullback in economic support

Sep. 20, 2021 11:46 AM EDT

WASHINGTON (AP) — The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, a first step toward unwinding the extraordinary support it's given the economy since the pandemic struck 18 months...

France seeks European support after submarine deal surprise

Sep. 20, 2021 10:26 AM EDT

PARIS (AP) — France canceled meetings with British and Australian officials and is trying to rally EU allies behind its push for more European sovereignty after being humiliated by major Pacific defense pact orchestrated by the U.S. Australia and Britain insisted Monday...

India to resume exports of coronavirus vaccines in October

Sep. 20, 2021 08:45 AM EDT

NEW DELHI (AP) — India, the world's largest vaccine producer, will resume exports and donations of surplus coronavirus vaccines in October after halting them during a devastating surge in domestic infections in April, the health minister said Monday. Mansukh Mandaviya...

France, Australia agree submarine row won't stop trade deal

Sep. 20, 2021 08:07 AM EDT

CANBERRA, Australia (AP) — French and Australian officials said Monday that France’s anger over a canceled submarine contract will not derail negotiations on an Australia-European Union free trade deal. France withdrew its ambassadors to the United States and...