India's economic growth dips during coronavirus pandemic

NEW DELHI (AP) — India’s economy grew by 4.2% in the fiscal year that ended in March, down from 6.1% the previous year, the government said Friday, and is likely to contract this year because of the coronavirus pandemic. The growth dipped to 3.1% in January-March, the last quarter of the fiscal...

White House punts economic update as election draws near

WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...

White House punts economic update as election draws near

WASHINGTON (AP) — The White House took the unusual step on Thursday of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...

US economy shrank at 5% annual rate in Q1

WASHINGTON (AP) — The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter. The Commerce Department reported Thursday that the gross domestic product, the...

This Week: New home sales, US GDP, consumer spending

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The economic fallout from the coronavirus pandemic has spared few areas of the economy, and the market for newly built homes is no exception. Sales of new U.S. homes plunged 15.4% in March to a...

Wall Street ends a choppy day mostly higher; crude oil falls

Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market. The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark...

China boosts spending for virus-hit economy, takes up HK law

BEIJING (AP) — China’s No. 2 leader on Friday promised higher spending to revive its pandemic-stricken economy and curb surging job losses but avoided launching a massive stimulus on the scale of the United States or Japan. Premier Li Keqiang told lawmakers Beijing would set no economic growth...

Asian shares fall on US friction with China, Hong Kong fears

BANGKOK (AP) — Shares slipped in Asia on Friday as tensions flared between the U.S. and China and as more job losses compounded the economic fallout from the coronavirus pandemic. Hong Kong’s benchmark led regional losses, dropping 3.9% to 23,332.78 after the central government in Beijing said...

Key points about China's legislative session

BEIJING (AP) — Thousands of delegates from across China are in Beijing for this year’s annual session of the country’s rubber-stamp legislature and its advisory body, meetings delayed by more than two months because of the coronavirus outbreak. The National People’s Congress session...

China promises higher spending to reverse surging job losses, sets no economic growth target to focus on virus fight