Latest Economy News

Cash windfall helps Newsom shake California recall election

May. 15, 2021 11:48 AM EDT

LOS ANGELES (AP) — A fading coronavirus crisis and an astounding windfall of tax dollars have reshuffled California’s emerging recall election, allowing Democratic Gov. Gavin Newscom to talk about an end to most COVID-19 restrictions and propose billions in new spending as he looks to...

Northam, state officials making trade mission to Europe

May. 15, 2021 11:36 AM EDT

RICHMOND, Va. (AP) — Virginia Gov. Ralph Northam was set to depart for an international trade and marketing mission to Europe on Saturday. Northam and a delegation that includes Secretary of Commerce and Trade Brian Ball will visit Germany, Greece and Switzerland on...

Alaska to stop $300 weekly federal unemployment aid boost

May. 14, 2021 17:33 PM EDT

JUNEAU, Alaska (AP) — Alaska will stop participating next month in a federal program that provides an extra $300 a week in unemployment aid, the state labor commissioner announced Friday, saying it's “time to help people get back to work.” Commissioner Tamika L....

How major US stock indexes fared Friday

May. 14, 2021 16:56 PM EDT

Stocks closed higher for the second day in a row Friday but still ended with a weekly loss after three sizable drops earlier in the week. The S&P 500 added 1.5%, but still lost 1.4% for the week. Another bounce back in tech shares pushed the Nasdaq 2.3% higher. ...

Stocks close higher with help from tech, still down for week

May. 14, 2021 16:50 PM EDT

Stocks marched solidly higher again Friday, though the major indexes still ended with their worst weekly loss since February after a sharp pullback earlier in the week. The S&P 500 rose 1.5%, its second straight gain. The gains were broad, though technology sector...

Missouri set to require online stores to collect taxes

May. 14, 2021 16:17 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri is set to become the last state to require out-of-state online stores to collect sales taxes on residents' purchases after the GOP House gave its approval Friday. House members voted 145-6 to send an online sales tax bill to fellow...

Turkish firm shuts down power supply for crisis-hit Lebanon

May. 14, 2021 14:17 PM EDT

BEIRUT (AP) — A Turkish company that provides electricity to Lebanon from two power barges shut down its operations on Friday over delayed payments and the threat of legal action against its vessels. The move is expected to increase outages in the crisis-hit Mediterranean country. ...

Europe's 4 Visegrad nations lift some travel restrictions

May. 14, 2021 13:27 PM EDT

WARSAW, Poland (AP) — Europe's four Visegrad countries on Friday lifted travel restrictions between the Czech Republic and Hungary for people vaccinated against COVID-19 and discussed how to cooperate to boost tourism. The foreign ministers' meeting in Lodz, central...

Turkish tourism video sparks outcry, unequal treatment claim

May. 14, 2021 12:25 PM EDT

ISTANBUL (AP) — A video promoting tourism in Turkey amid the pandemic has caused an uproar on social media for showing tourism employees wearing masks that read “Enjoy, I’m vaccinated.” The video, in English, was published Thursday on the social media accounts of...

Thai PM tells UN envoy he won't push back Myanmar refugees

May. 14, 2021 11:27 AM EDT

BANGKOK (AP) — Thai Prime Minister Prayuth Chan-ocha promised a United Nations special envoy on Friday that he will not force back people fleeing violence in neighboring Myanmar, where the military ousted a democratically elected government in February. U.N. Special...