Latest Economy News

Wall Street opening lower led by Goldman, banks

Jan. 18, 2022 09:45 AM EST

TOKYO (AP) — Shares are falling at the open on Wall Street Monday, following global markets lower as the S&P 500 extended its slide into a third straight week. Big banks including Goldman Sachs and Morgan Stanley are leading the decline, while the Dow Jones Industrial Average and the Nasdaq...

Sri Lanka's leader vows rights reforms as debt crisis looms

Jan. 18, 2022 09:19 AM EST

COLOMBO, Sri Lanka (AP) — Sri Lanka’s leader on Tuesday promised human rights reforms and justice for people missing from the country's civil war, after years of resisting calls for such measures. President Gotabaya Rajapaksa was speaking before a new session of Parliament as the...

German arms exports hit record after big sales to Egypt

Jan. 18, 2022 08:08 AM EST

BERLIN (AP) — Germany's arms exports reached record levels in 2021, largely due to significant sales of maritime and air defense weapons to Egypt, officials said Tuesday. Preliminary figures released by the Economy Ministry show Germany exported arms worth 9.35 billion euros...

South Korean president in Saudi Arabia, meets crown prince

Jan. 18, 2022 06:33 AM EST

RIYADH, Saudi Arabia (AP) — South Korea's leader arrived in Saudi Arabia on Tuesday, where he was greeted in Riyadh by the kingdom's crown prince and an honor guard marching band. It was the second stop on a Mideast tour by South Korean President Moon Jae-in and his wife, who were...

Deadline nears to apply for storm loans in 5 WVa counties

Jan. 18, 2022 04:08 AM EST

HUNTINGTON, W.Va. (AP) — Small private nonprofit organizations in five West Virginia counties have a few more weeks to apply for federal loans for economic losses from several winter storms last February. The U.S. Small Business Administration said Feb. 14 is the filing deadline...

North Korean missile tests signal return to brinkmanship

Jan. 17, 2022 23:23 PM EST

SEOUL, South Korea (AP) — Grappling with pandemic difficulties and U.S.-led sanctions over his nuclear ambitions, North Korean leader Kim Jong Un could be reviving his 2017 playbook of nuclear and missile brinkmanship to wrest concessions from Washington and his neighbors. North...

Asia shares mostly higher after US holiday; BOJ stands pat

Jan. 17, 2022 23:16 PM EST

TOKYO (AP) — Asian shares were mostly higher Tuesday in the absence of big market-moving news following a national holiday in the U.S. The Bank of Japan wrapped up a two-day policy meeting with no major changes. The benchmark interest rate remains at a longstanding minus 0.1%. ...

Pharrell Williams calls for economic equity during MLK event

Jan. 17, 2022 22:38 PM EST

VIRGINIA BEACH, Va. (AP) — Singer and music producer Pharrell Williams is challenging corporate America to “do more" by supporting entrepreneurs of color and adopting economic equity measures. The Virginian-Pilot reports that in remarks Monday during the Urban League of Hampton...

Youngkin calls on lawmakers to enact 'vision of change'

Jan. 17, 2022 18:37 PM EST

RICHMOND, Va. (AP) — Gov. Glenn Youngkin asked the divided Virginia General Assembly on Monday to work with him to enact his “sweeping vision of change” for the state by rolling back taxes, expanding school choice and boosting funding for law enforcement. In his first joint...

Russia denies looking for pretext to invade Ukraine

Jan. 17, 2022 17:16 PM EST

MOSCOW (AP) — Russia's top diplomat angrily rejected U.S. allegations that Moscow was preparing a pretext to invade Ukraine, as Russian troops that are amassed near the Ukraine border launched more drills Monday. The White House said Friday that U.S. intelligence officials had...