Latest Economic policy News

Fuel, transport subsidies help keep German inflation at 7.6%

Jun. 29, 2022 10:36 AM EDT

BERLIN (AP) — Inflation in Germany eased slightly in June compared to the previous month, in part due to new subsidies that helped rein in the price of gasoline and public transport. Official figures released Wednesday show inflation hit 7.6% this month, down from 7.9% in May,...

Strong ruble could hurt Russian businesses, official warns

Jun. 29, 2022 08:01 AM EDT

MOSCOW (AP) — As the ruble strengthens to levels not seen in seven years, Russia's minister of economic development warned Wednesday that the country's businesses could suffer if the trend persists. The ruble hit all-time lows in the first weeks after Russia sent troops into...

Australia prioritizes reducing emissions and cheaper EVs

Jun. 29, 2022 01:52 AM EDT

CANBERRA, Australia (AP) — Australia’s new government is putting climate change at the top of its legislative agenda when Parliament sits next month for the first time since the May 21 election, with bills to enshrine a cut in greenhouse gas emissions and make electric cars cheaper, a minister...

Alaska governor outlines finalized state budget

Jun. 28, 2022 20:27 PM EDT

JUNEAU, Alaska (AP) — Alaska Gov. Mike Dunleavy announced a finalized state budget Tuesday that he said will pay off the state's lingering oil and gas tax credits and invest in areas such as public safety, education and infrastructure. Dunleavy, a Republican who faces reelection...

Live updates | Spain's king hosts NATO leaders' gala dinner

Jun. 28, 2022 16:49 PM EDT

MADRID (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in the Bavarian Alps in Germany; and on the NATO summit in Madrid, where leaders begin gathering later Tuesday: ___ Russia’s war on...

India's prime minister visits the UAE, showcasing deep ties

Jun. 28, 2022 12:23 PM EDT

DUBAI, United Arab Emirates (AP) — India’s Prime Minister Narendra Modi met with Emirati President Sheikh Mohammed bin Zayed Al Nahyan on a visit to the United Arab Emirates on Tuesday, showcasing deep ties between the major trade partners. From the oil-rich capital of Abu...

G-7 leaders united behind Ukraine, aim at Kremlin oil money

Jun. 28, 2022 10:05 AM EDT

ELMAU, Germany (AP) — Leaders of the world’s biggest developed economies said Tuesday they would explore far-reaching steps to cap Russia's income from oil sales that are financing its invasion of Ukraine and struck a united stance to support Kyiv for “as long as it takes" as the war grinds...

EXPLAINER: How a G-7 ban on Russian gold would work

Jun. 28, 2022 07:10 AM EDT

WASHINGTON (AP) — Russia appears to have defaulted on its foreign debt for the first time since the 1917 Bolshevik Revolution, and the U.S. and its allies are taking aim at the former Soviet Union's second largest export industry after energy — gold. On Tuesday, the Group of...

Europe's central bank ready to 'stamp out' surging inflation

Jun. 28, 2022 06:47 AM EDT

SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected. In a...

Johnson's move to rewrite Brexit rules clears 1st hurdle

Jun. 28, 2022 06:03 AM EDT

LONDON (AP) — British Prime Minister Boris Johnson’s bid to rip up parts of the post-Brexit trade deal he signed with the European Union has cleared its first hurdle in Parliament, despite warnings from opponents that the move is illegal. Lawmakers voted 295 to 221 late Monday...