Latest Economy News

Consumers' lawyer seeks refunds as FirstEnergy ratings fall

Nov. 25, 2020 5:56 PM EST

COLUMBUS, Ohio (AP) — The lawyer for FirstEnergy’s 1.8 million residential electric customers in Ohio stepped in Wednesday to try to assure they get refunds should state legislators or the courts halt the charges the utility giant was expecting as part of a now-tainted nuclear bailout bill. Ohio...

Utah liquor regulator wants curbside, online alcohol sales

Nov. 25, 2020 5:45 PM EST

SALT LAKE CITY (AP) — Utah's state liquor regulator wants to implement curbside pickup and online sales of alcohol, but the state agency needs funding from the Legislature. Some state legislators are apprehensive about the idea, KSTU-TV reported Tuesday. “Can we ensure that the safeguards are in...

FILE - In this Thursday, April 25, 2019, file photo, Sen. Del Marsh, left, chats with Sen. Greg Reed on the senate floor as debate on the lottery bill is set to begin in the Alabama Statehouse in Montgomery, Ala. The Alabama Senate in February 2021 will have a new leader for the first time in a decade. Republican Sen. Greg Reed of Jasper will take the helm as president pro tempore. Reed said in a telephone interview Tuesday, Nov. 24, 2020, that rebuilding the state’s economy and alleviating the impact of the coronavirus pandemic will be his initial priorities. (Mickey Welsh/The Montgomery Advertiser via AP, File)

New Senate leader: Economy, virus recovery among priorities

Nov. 25, 2020 5:07 PM EST

MONTGOMERY, Ala. (AP) — In February, the Alabama Senate will have a new leader for the first time in a decade when Republican Sen. Greg Reed of Jasper takes the helm as president pro tempore. Republicans have named Reed, who has been majority leader since 2014, to replace longtime Pro Tem Del Marsh, who is...

How major US stock indexes fared Wednesday

Nov. 25, 2020 5:06 PM EST

U.S. stock indexes closed mostly lower Wednesday, giving up some of their recent gains, on a day of mostly quiet trading ahead of the Thanksgiving holiday. Industrial, energy and health care stocks accounted for much of the selling. Technology stocks rose, driving the Nasdaq composite to an all-time high. The...

A street sign is displayed at the New York Stock Exchange in New York, Monday, Nov. 23, 2020.  Stocks are mostly lower as Wall Street heads into the Thanksgiving holiday. The S&P 500 index slipped 0.4% in the early going Wednesday, but it's still holding on to a gain of almost 11% for the month.  (AP Photo/Seth Wenig)

Stocks mostly fall, even as tech gains push Nasdaq to record

Nov. 25, 2020 4:55 PM EST

Stocks gave back some of their recent gains Wednesday as a batch of discouraging economic data prompted investors to take a pause a day after the market's record-setting climb. The S&P 500 dropped 0.2% a day after setting an all-time high. The Dow Jones Industrial Average slipped below 30,000, a day after...

A Palestinian boy sells bananas on a donkey carte in an alley in the Shati refugee camp, in Gaza City, Wednesday, Nov. 25, 2020. Israel's blockade of the Hamas-ruled Gaza Strip has cost the seaside territory as much as $16.7 billion in economic losses and caused its poverty and unemployment rates to skyrocket, a U.N. report said Wednesday, as it called on Israel to lift the 13-year closure. (AP Photo/Khalil Hamra)

UN agency: Israel's Gaza blockade has devastated economy

Nov. 25, 2020 4:34 PM EST

JERUSALEM (AP) — Israel’s blockade of the Hamas-ruled Gaza Strip has cost the seaside territory as much as $16.7 billion in economic losses and sent poverty and unemployment skyrocketing, a U.N. report said Wednesday, as it called on Israel to lift the closure. The report by the U.N. Conference on...

FILE - In this Thursday Sept. 24, 2020 file photo, Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, on Capitol Hill in Washington.  The Fed on Wednesday, Nov. 25,  released minutes of its Nov. 4-5 meeting revealing that while officials believed that no changes were needed to the bond purchase program at that time, “they recognized that circumstances could shift to warrant such adjustments.”  (Drew Angerer/Pool via AP, file)

As economy struggles, Fed weighs boosting bond purchases

Nov. 25, 2020 3:56 PM EST

WASHINGTON (AP) — At their meeting earlier this month, Federal Reserve officials discussed possible future adjustments to the central bank's monthly bond purchases to boost the economy. The Fed on Wednesday released minutes of its Nov. 4-5 meeting revealing that while officials believed that no changes...

President-elect Joe Biden speaks Wednesday, Nov. 25, 2020, in Wilmington, Del. (AP Photo/Carolyn Kaster)

The Latest: Biden urges Americans to forgo big Thanksgiving

Nov. 25, 2020 3:54 PM EST

WASHINGTON (AP) — The Latest on President-elect Joe Biden (all times local): 3:30 p.m. A big Biden family Thanksgiving is off the table for President-elect Joe Biden because of the pandemic. In remarks billed as a Thanksgiving address to the nation, the Democrat urged Americans to “hang on”...

People protesting the health orders of Gov. Michelle Lujan Grisham stand outside the state Capitol on Tuesday, Nov. 24, 2020, in Santa Fe, N.M. The Capitol, which houses the offices of the governor and the legislature, was closed to the public at the start of the coronavirus pandemic. Legislators are meeting Tuesday to pass an economic relief bill. (AP Photo/Cedar Attanasio)

New Mexico looks ahead to more economic relief amid pandemic

Nov. 25, 2020 3:49 PM EST

ALBUQUERQUE, N.M (AP) — The flurry to pass a $330 million relief package aimed at helping out-of-work New Mexicans and certain businesses hit hard by the coronavirus pandemic is done, but Democratic Gov. Michelle Lujan Grisham and Republican lawmakers say the hardest work is yet to come as they look for...

Christmas lights are lit up on New Bond Street in Mayfair, London, Tuesday, Nov. 24, 2020. Haircuts, shopping trips and visits to the pub will be back on the agenda for millions of people when a four-week lockdown in England comes to an end next week, British Prime Minister Boris Johnson said Monday. (AP Photo/Alberto Pezzali)

UK cuts overseas aid after worst recession in over 300 years

Nov. 25, 2020 3:23 PM EST

LONDON (AP) — The British government faced fury Wednesday after ditching its long-standing target for overseas aid in the wake of what it described as the deepest recession in over three centuries. In a statement to lawmakers, Treasury chief Rishi Sunak said the target to allocate 0.7% of national income...