Latest Economy News

Destruction everywhere, help scarce after Afghanistan quake

Jun. 26, 2022 21:51 PM EDT

GAYAN, Afghanistan (AP) — When the ground heaved from last week’s earthquake in Afghanistan, Nahim Gul’s stone-and-mud house collapsed on top of him. He clawed through the rubble in the predawn darkness, choking on dust as he searched for his father and two sisters. He doesn't...

NLRB's top prosecutor seeks big changes, faces uphill battle

Jun. 26, 2022 20:07 PM EDT

As workers at major companies increasingly move to unionize, the political environment for labor couldn’t be more ripe. Perhaps nowhere is that more accurate than at the National Labor Relations Board, the agency that enforces the country’s labor laws and oversees union...

EXPLAINER: What's the impact of a Russian debt default?

Jun. 26, 2022 17:18 PM EDT

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day...

Russia strikes Kyiv as Western leaders meet in Europe

Jun. 26, 2022 17:01 PM EDT

KYIV, Ukraine (AP) — Russia shattered weeks of relative calm in the Ukrainian capital with long-range missiles fired toward Kyiv early Sunday, an apparent Kremlin show-of-force as Western leaders meet in Europe to strengthen their military and economic support of Ukraine. Kyiv...

Biden urges Western unity on Ukraine amid war fatigue

Jun. 26, 2022 16:41 PM EDT

ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the...

Average US gasoline price drops 4 cents to $5.05 per gallon

Jun. 26, 2022 16:15 PM EDT

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline fell by 4 cents per gallon in the past two weeks to $5.05 for regular grade, it was reported Sunday. It was the first drop in nine weeks and came with a drop in oil prices amid deepening global inflation...

Live updates | G-7 nations seek to counter Chinese influence

Jun. 26, 2022 15:28 PM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in Germany's Bavarian Alps: One Group of Seven family photo didn’t seem to be enough. After posing for a group shot earlier...

Did corporate greed fuel inflation? It's not biggest culprit

Jun. 26, 2022 09:27 AM EDT

WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of...

Senior US officials visit Sri Lanka to help resolve crisis

Jun. 26, 2022 06:49 AM EDT

COLOMBO, Sri Lanka (AP) — Senior U.S. officials arrived in Sri Lanka on Sunday to find ways to help the island nation in the throes of an unprecedented economic crisis and severe shortages of essential supplies, as the energy minister warned that new fuel shipments would be delayed. ...

Biden: Group of Seven nations to announce ban on Russian gold imports in latest round of sanctions over Ukraine war

Jun. 26, 2022 03:34 AM EDT
ELMAU, Germany (AP) — Biden: Group of Seven nations to announce ban on Russian gold imports in latest round of sanctions over Ukraine war.