Latest Economy News

Democrats favor more access to capital for black businesses

Jun. 15, 2019 4:45 PM EDT

CHARLESTON, S.C. (AP) — Four Democrats vying for their party's presidential nomination honed in on the economic concerns of the black community during a forum Saturday in South Carolina, a state where nonwhite voters will play a major role in next year's primary election. Appearing on stage one at a time,...

Crew members of targeted Norwegian-owned tanker now in Dubai

Jun. 15, 2019 3:57 PM EDT

DUBAI, United Arab Emirates (AP) — Crew members from a Norwegian-owned oil tanker apparently attacked in the Gulf of Oman landed Saturday in Dubai after two days in Iran as the other tanker targeted in the assault limped into anchorage off the eastern coast of the United Arab Emirates. Both the mariners'...

'We are trapped': Zimbabwe's economic crunch hits passports

Jun. 15, 2019 9:40 AM EDT

HARARE, Zimbabwe (AP) — With Zimbabwe's economy in shambles and political tensions rising, leaving the country seems the best option for many who are desperate for jobs. But those dreams often end at the passport office, which doesn't have enough foreign currency to import proper paper and ink. A passport...

Turkey slams southern EU nations on drilling bid off Cyprus

Jun. 15, 2019 9:22 AM EDT

ANKARA, Turkey (AP) — Turkey on Saturday criticized southern European Union nations for urging the EU to consider action against Turkey over its bid to drill for gas in waters where Cyprus has exclusive economic rights. The Turkish Foreign Ministry said in a statement that a declaration issued by the...

Iraq gets new extension for Iran energy sanctions waiver

Jun. 15, 2019 7:48 AM EDT

BAGHDAD (AP) — Two Iraqi officials say the United States has given Iraq a new 90-day extension for an Iran sanctions waiver allowing Baghdad to import electricity and natural gas from Tehran. An Iraqi official told The Associated Press on Saturday that Baghdad was informed about the waiver during a call...

Middle East attack jolts oil-import dependent Asia

Jun. 15, 2019 3:45 AM EDT

SEOUL, South Korea (AP) — The blasts detonated far from the bustling megacities of Asia, but the attack this week on two tankers in the strategic Strait of Hormuz hits at the heart of the region's oil import-dependent economies. While the violence only directly jolted two countries in the region —...

Tennessee Volkswagen plant rejects unionization

Jun. 15, 2019 12:11 AM EDT

CHATTANOOGA, Tenn. (AP) — Workers at Volkswagen's plant in Chattanooga, Tennessee, voted Friday night against forming a factory-wide union, handing a setback to the United Auto Workers' efforts to gain a foothold among foreign auto facilities in the South. The vote of hourly workers began Wednesday and...

Trump administration suspends trade complaint against China

Jun. 14, 2019 5:14 PM EDT

WASHINGTON (AP) — The Trump administration has suspended a complaint it had made against China to the World Trade Organization, a shift that might signal a slight opening in the administration's trade war with Beijing. The WTO says it's granted a request to suspend work until December on the...

Top dog: Shares of online pet store Chewy soar in debut

Jun. 14, 2019 5:05 PM EDT

NEW YORK (AP) — It was raining cats and dogs on Wall Street. Chewy, the online seller of pet food and squeaky toys, made a strong showing in its debut on the New York Stock Exchange Friday, with investors banking on the growing pet industry. Its shares soared 59% Friday under the symbol "CHWY," putting the...

Stocks post small losses; investors look ahead to Fed

Jun. 14, 2019 5:02 PM EDT

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates. Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers...