Latest Economy News

A woman cycles past by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 27, 2021. Stocks were mixed in Asia on Wednesday after a lackluster session on Wall Street. (AP Photo/Koji Sasahara)

Asian shares mixed as focus turns to Federal Reserve meeting

Jan. 27, 2021 1:57 AM EST

Stocks are mixed in Asia as investors focus on the Federal Reserve policy meeting that ends Wednesday. Shares rose in Hong Kong and Tokyo but fell in Seoul and Sydney. Shanghai was little changed. The Fed is expected to keep its extremely supportive policy stance unchanged given the slow progress in vanquishing...

Democratic Rep. Daymon Ely argues against a proposal by GOP members to require in-person voting during the annual legislative session on Monday, Jan. 25, 2021, in Santa Fe, N.M. Ely was one of a handful of Democratic representatives who appeared on the House floor in person. Most are viewing and voting remotely by video conference. (AP Photo/Cedar Attanasio)

State relief plans take shape at New Mexico Legislature

Jan. 27, 2021 1:11 AM EST

SANTA FE, N.M. (AP) — An economic relief package is taking shape at the New Mexico Legislature as a Senate panel endorsed a $600 rebate to low-income workers and a separate bill that would waive licensing fees on liquor stores. Residents of New Mexico who earned up to $31,200 during 2020 would be eligible...

A statue of Iranian General Qassem Soleimani, former head of Iran's Quds force, stands in front of a branch of the Hezbollah-run Qard al-Hassan Association, in Ghobeiry, Lebanon, Wednesday, Jan. 20, 2021. As more Lebanese fall into poverty in the country's economic crisis, increasing numbers are turning to the financial arm of the Iranian-backed Hezbollah militant group for help. Qard al-Hassan provides small, interest-free loans in dollars at a time when Lebanese are desperate for hard currency and commercial banks are not lending. (AP Photo/Bilal Hussein)

Amid crisis, Hezbollah 'bank' a lifeline for some Lebanese

Jan. 27, 2021 1:08 AM EST

BEIRUT (AP) — When Lebanon’s financial meltdown began in late 2019, Hassan Shoumar was locked out of his dollar savings like everyone else in the country as banks clamped down with capital controls. But the young engineer had an alternative. He could still pull out the dollars in his account at the...

UN panel: Yemen's war being fueled by economic profiteering

Jan. 27, 2021 12:45 AM EST

UNITED NATIONS (AP) — Economic profiteering is fueling the catastrophe in Yemen, where a six-year war has involved attacks on civilians, forced disappearances and other violations of human rights and international law, U.N. experts said in a new report. The experts estimate Houthi rebels diverted at least...

Former Secretary of State John Kerry arrives for the 59th Presidential Inauguration at the U.S. Capitol in Washington, Wednesday, Jan. 20, 2021. (AP Photo/Patrick Semansky, Pool)

Kerry aims to talk US back into a lead role in climate fight

Jan. 27, 2021 12:06 AM EST

From a wood-paneled library in his Boston mansion, new climate envoy John Kerry is talking the U.S. back into a leading role in global climate action, making clear the nation isn't just revving up its own efforts to reduce oil, gas and coal pollution but that it intends to push everyone in the world to do more,...

A woman cycles past by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 27, 2021. Stocks were mixed in Asia on Wednesday after a lackluster session on Wall Street. (AP Photo/Koji Sasahara)

Asian shares mixed following lackluster day on Wall Street

Jan. 26, 2021 11:59 PM EST

Asian stocks were mixed on Wednesday after a lackluster session on Wall Street. Benchmarks logged moderate gains in Hong Kong and Tokyo, but were flat in Sydney and Shanghai. Australian shares declined. Markets have meandered since last week as investors weighed solid corporate earnings results against renewed...

People wait to refill oxygen tanks for relatives sick with COVID-19 in the Iztapalapa district of Mexico City, on Tuesday, Jan. 26, 2021. The city is offering free oxygen refills for patients with COVID-19. (AP Photo/Marco Ugarte)

Criminals in Mexico exploit desperation for oxygen canisters

Jan. 26, 2021 8:51 PM EST

MEXICO CITY (AP) — Mexico continued to post near-record rates of coronavirus deaths Tuesday, and the huge demand for oxygen canisters has led to frauds, robberies and other crimes against families trying to care for relatives at home. Mexico posted a near-record 1,743 newly confirmed COVID-deaths, bringing...

FILE - In this Aug. 12, 2019, file photo, California State Auditor Elaine Howle testifies at an Assembly committee hearing in Sacramento, Calif. On Tuesday, Jan. 26, 2021, Howle released a report saying that the California Employment Development Department might have overpaid millions of people since March 2020 after it stopped enforcing eligibility rules so they could process claims faster. (AP Photo/Rich Pedroncelli, File)

Audit: Millions may have to repay California jobless aid

Jan. 26, 2021 8:39 PM EST

SACRAMENTO, Calif. (AP) — Millions of people might have to repay some or all of the jobless benefits they got during the coronavirus pandemic because California's unemployment agency stopped enforcing some eligibility rules so it could process claims quicker, according to an audit released Tuesday. As...

Massachusetts Gov. Charlie Baker, left, Lt. Governor Karyn Polito, right, and Major General Gary W. Keefe of the National Guard, rear, hold a news conference at a medical field hospital erected by the National Guard at the DCU Center in Worcester, Mass. for the expected influx of patients due to the COVID-19 pandemic. (Nicolaus Czarnecki/The Boston Herald via AP, Pool)

Baker: Despite pandemic trauma, Massachusetts remains strong

Jan. 26, 2021 8:10 PM EST

BOSTON (AP) — Gov. Charlie Baker delivered his annual State of the Commonwealth address Tuesday evening, acknowledging the trauma Massachusetts has endured battling a deadly pandemic, but praising residents' resilience and promising brighter days ahead. “If there is a silver lining in all this,...

Former Secretary of State John Kerry arrives for the 59th Presidential Inauguration at the U.S. Capitol in Washington, Wednesday, Jan. 20, 2021. (AP Photo/Patrick Semansky, Pool)

Kerry aims to talk US back into a lead role in climate fight

Jan. 26, 2021 7:38 PM EST

From a wood-paneled library in his Boston mansion, new climate envoy John Kerry is talking the U.S. back into a leading role in global climate action, making clear the nation isn't just revving up its own efforts to reduce oil, gas and coal pollution but that it intends to push everyone in the world to do more,...