Latest Economy News
Stock market today: Wall Street is mixed as DC moves to avoid default
NEW YORK (AP) — Wall Street is drifting in mixed trading Tuesday after Washington reached a tentative deal to avoid a potentially disastrous default on its debt. The S&P 500 was up 0.2% in morning trading, remaining near its highest level in nine months. The Dow Jones...
Economic boost or big business hand-out? Nevada lawmakers consider A's stadium financing
CARSON CITY, Nev. (AP) — Nevada lawmakers questioned whether a proposal to subsidize a new MLB stadium with tax credits and bonds would further boost Las Vegas’ economy, or serve as a handout for a big business that could strain government resources. In a committee hearing on...
Stock market today: Asia shares mixed as investors await debt ceiling vote, eye China economy
TOKYO (AP) — Asian shares were mixed in directionless trading Tuesday following a U.S. holiday, as optimism about a deal on the U.S. debt was dented by worries about the regional economy. Japan's benchmark Nikkei 225 lost 0.4% in morning trading to 31,119.27. Australia's...
What 5 more years of Erdogan's rule means for Turkey
ISTANBUL (AP) — Turkish President Recep Tayyip Erdogan won reelection in a runoff Sunday, following a nail-biter first round two weeks earlier. Having secured another five years, Erdogan now faces a host of domestic challenges in a deeply divided country, from a battered economy to pressure for...
This Week: Consumer confidence, Macy’s earns, jobs report
A look at some of the key business events and economic indicators upcoming this week: NOT SO CONFIDENT? The Conference Board releases its latest U.S. consumer confidence index Tuesday. The index fell in April as anxiety over a slowing economy and...
Stock market today: Tech leads more gains on Wall Street
NEW YORK (AP) — Technology stocks powered solid gains for Wall Street on Friday after another chipmaker reported strong demand related to artificial intelligence. The upbeat finish to the week for major indexes comes amid lingering anxiety over persistently high inflation, the risk...
A measure of inflation that is closely tracked by the Federal Reserve increased in April
WASHINGTON (AP) — A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April. That was...
UK's Treasury chief accepts that recession may be necessary to get inflation down
LONDON (AP) — Britain's Treasury chief said he would be prepared to see the U.K. economy slip back into recession if further interest rate hikes are necessary to bring down inflation. With the Bank of England expected to keep raising rates following higher-than-anticipated...
Stock market today: Asian markets mixed as US government debt talks push toward brink of default
Asian markets were mixed Friday as a deadline loomed for Congress to reach a deal on the U.S. government debt or face a potentially calamitous default. Tokyo and Seoul rose while Shanghai and Sydney fell. Hong Kong was closed for a holiday. U.S. futures slipped and oil prices also...
Germany economy shrinks in first quarter, signaling one definition of recession
BERLIN (AP) — The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. Data released Thursday by the Federal Statistical Office shows Germany's gross domestic product, or GDP,...
