Latest Economy News

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 23, 2020. Asian shares are mostly higher as health authorities around the world move to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. (AP Photo/Ahn Young-joon)

Stocks around the world drop on virus concerns, led by China

Jan. 23, 2020 9:46 AM EST

NEW YORK (AP) — US stocks are falling at the start of trading Thursday, following other markets lower as authorities rush to contain a deadly virus outbreak in China. The coronavirus has been confirmed in five countries, and the worry is that its spread could hurt tourism and the global economy. Losses...

German Chancellor Angela Merkel addresses at the World Economic Forum in Davos, Switzerland, Thursday, Jan. 23, 2020. The 50th annual meeting of the forum is taking place in Davos from Jan. 21 until Jan. 24, 2020. (AP Photo/Markus Schreiber)

The Latest: Merkel says climate may become survival matter

Jan. 23, 2020 9:43 AM EST

DAVOS, Switzerland (AP) — The Latest on the World Economic Forum in Davos, Switzerland (all times local): 3:40 p.m. German Chancellor Angela Merkel says that climate protection may become a matter of survival for Europe and the entire planet. “The question of being able to reach the goals of the...

Sajid Javid, Britain's Chancellor of the Exchequer, pictured during the 50th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Wednesday, Jan. 22, 2020.  (Gian Ehrenzeller/Keystone via AP)

High hopes: US, EU and UK all aim for trade deals this year

Jan. 23, 2020 9:32 AM EST

DAVOS, Switzerland (AP) — The United States, the European Union and what will soon be post-Brexit Britain have all raised the prospect of concluding trade deals between themselves by the end of this year, setting up an intense few months of negotiations. High-level representatives said Thursday at the...

Lebanese men pass in front of a coffee shop that was smashed by anti-government protesters, during a protest against the new government, in downtown Beirut, Lebanon, Wednesday, Jan. 22, 2020. Lebanon's new government, made up of members nominated by the Shiite group Hezbollah and its allies got down to business Wednesday, a day after it was formed. Questions arose immediately about its ability to halt a spiral of economic and political collapse. (AP Photo/Hussein Malla)

New Lebanese minister says he won't permit attacks on police

Jan. 23, 2020 9:29 AM EST

BEIRUT (AP) — Lebanon's new interior minister said Thursday he won't permit attacks on security forces amid angry rioting that has gripped the country's capital amid a deepening economic crisis. Mohammed Fahmi spoke during a handover ceremony from the outgoing minister, two days after an emergency...

Secretary of Treasury, Steven Mnuchin, at podium, speaks as U.S. Trade Representative Robert Lighthizer, back second from right and President Donald Trump, right, listen during a signing ceremony for

'Who is she?' - US Treasury chief takes swipe at Thunberg

Jan. 23, 2020 9:26 AM EST

DAVOS, Switzerland (AP) — As one of the executive producers of the last Mad Max movie, U.S. Treasury Secretary Steven Mnuchin might have been interested in the apocalyptic climate warnings of Greta Thunberg. Instead, he took a personal swipe at the 17-year-old, saying she was in no position to give advice...

President of European Central Bank Christine Lagarde smiles prior to a press conference following a meeting of the governing council in Frankfurt, Germany, Thursday, Jan. 23, 2020. (AP Photo/Michael Probst)

European Central Bank holds rates, launches policy review

Jan. 23, 2020 8:48 AM EST

FRANKFURT, Germany (AP) — The European Central Bank has decided to launch a top-to-bottom review of how it steers the economy for 342 million people in the 19 countries that use the euro currency. The bank’s 25-member governing council on Thursday gave the green light for the review proposed by new...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 23, 2020. Asian shares are mostly higher as health authorities around the world move to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. (AP Photo/Ahn Young-joon)

Stocks drop on concerns over impact of China virus

Jan. 23, 2020 8:21 AM EST

BANGKOK (AP) — World shares fell Thursday as health authorities around the world rushed to monitor and contain a deadly virus outbreak in China and keep it from spreading globally. China and other nations have ramped up screenings for fever on aircraft and at airports. The central Chinese city of Wuhan,...

FILE - In this Thursday, June 20, 2019 file photo, a Turkish police officer patrols the dock, backdropped by the drilling ship 'Yavuz' to be dispatched to the Mediterranean, at the port of Dilovasi, outside Istanbul.  The leaders of Greece, Israel and Cyprus are set to sign a deal Thursday Jan. 2, 2020, for a 1,900-kilometer (1,300-mile) undersea pipeline that will carry gas from new offshore deposits in the southeastern Mediterranean to continental Europe. (AP Photo/Lefteris Pitarakis, File)

Cyprus backtracks on claim Turkey stole offshore gas data

Jan. 23, 2020 8:15 AM EST

NICOSIA, Cyprus (AP) — Cyprus' government spokesman backpedaled Thursday on a claim that Turkey may have stolen technical data to pinpoint a target for gas drilling in waters where the island nation has exclusive economic rights. Government spokesman Kyriakos Koushos told The Associated Press that no such...

European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy

Jan. 23, 2020 7:48 AM EST
FRANKFURT, Germany (AP) — European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy.
FILE - In this June 25, 1984 file photo, British Prime Minister Margaret Thatcher faces the camera at a summit of European leaders in Fontainebleau, France. At the summit, Thatcher got a financial rebate for Britain. Thatcher's 11-year premiership became increasingly dominated by her opposition to what later became known as the European Union. On Jan. 31, 2020, Britain is scheduled to leave the EU after 47 years. (AP Photo/File)

Britain's EU Journey: When Thatcher turned all euroskeptic

Jan. 23, 2020 5:15 AM EST

LONDON (AP) — Britain officially leaves the European Union on Jan. 31 after a debilitating political period that has bitterly divided the nation since the 2016 Brexit referendum. Difficult negotiations setting out the new relationship between Britain and its European neighbors will continue throughout...