Latest Economy News

US regulators bar govt telecom funds for Huawei, ZTE

Nov. 22, 2019 2:29 PM EST

U.S. communications regulators have cut off government funding for equipment from two Chinese companies, citing security threats. The Federal Communications Commission also proposed requiring companies that get government subsidies to rip out any equipment from Huawei and ZTE that they already have in place....

Correction: Mortgage Rates story

Nov. 22, 2019 2:12 PM EST

WASHINGTON (AP) — In a story Nov. 21 about U.S. mortgage rates, The Associated Press reported erroneously that a year ago, the 30-year rate was at 3.81%. It was at 4.81%. A corrected version of the story is below: US mortgage rates fell this week, boosting housing market US mortgage rates fell this week,...

US stocks edge higher, but S&P 500 on track for weekly loss

Nov. 22, 2019 1:37 PM EST

Stock indexes edged higher on Wall Street in afternoon trading Friday as a week dominated by the progress in U.S.-China trade talks — or lack thereof — comes to a close. President Donald Trump said that a deal between the world’s largest economies is “potentially very close”...

Markets Right Now: Stocks turn mixed on Wall Street

Nov. 22, 2019 11:55 AM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Stocks are mixed in midday trading as a week dominated by ups and downs in U.S.-China trade talks comes to a close. President Donald Trump said Friday that a deal between the world’s largest economies is...

China’s Xi says Beijing wants trade deal, can ‘fight back’

Nov. 22, 2019 11:54 AM EST

BEIJING (AP) — President Xi Jinping said Friday that Beijing wants to work for a trade deal with the United States but is not afraid to “fight back” to protect its own interests. Echoing the upbeat tone adopted by other Chinese officials in recent days, Xi told a visiting U.S. business...

Isolated Iceland newly vulnerable to computer scams

Nov. 22, 2019 11:43 AM EST

REYKJAVIK, Iceland (AP) — "Hi, I hope you are not busy?" The treasurer of the Icelandic soccer club Afturelding got the email from his manager late in the afternoon, soon before banks were about to close. The words “Sent from my iPhone” were at the bottom, suggesting urgency, and through a...

Merkel’s heir apparent takes on critics, wins applause

Nov. 22, 2019 10:22 AM EST

BERLIN (AP) — German Chancellor Angela Merkel’s embattled heir apparent sought to silence critics Friday, throwing down the gauntlet for any member of the Christian Democratic Party to challenge her if they didn’t like the direction in which she was leading the party. Annegret...

AP FACT CHECK: Leaders’ questionable claims in U.K. election

Nov. 22, 2019 8:59 AM EST

LONDON (AP) — Claims of ruinous spending sprees and twisted truths are flying in during campaigning for Britain’s Dec. 12 election, in which all 650 seats in the House of Commons are up for grabs. The main parties are touting ambitious spending plans while warning of the alleged economic damage that...

In reversal, Seoul to keep Japan military intelligence pact

Nov. 22, 2019 7:07 AM EST

SEOUL, South Korea (AP) — In a major policy reversal, South Korea said Friday it has decided to continue, at least temporarily, a 2016 military intelligence-sharing agreement with Japan that it previously said it would terminate amid ongoing tensions over wartime history and trade. The announcement, made...

World shares advance on upbeat comments on US-China trade

Nov. 22, 2019 6:27 AM EST

BEIJING (AP) — World stocks rose Friday as upbeat comments by Chinese President Xi Jinping helped quell anxiety over the state of trade talks with the U.S. Britain’s FTSE 100 rose 1% to 7,311, while the CAC 40 in France gained 0.3% to 5,897. Germany’s DAX picked up 0.1% to 13,146. Wall Street...