Latest Economic policy News

EU Chief Negotiator Michel Barnier, centre, with his team as he walks to a conference centre in Westminster in London, Sunday, Nov. 29, 2020. Teams from Britain and the European Union are continuing face-to-face talks on a post-Brexit trade deal in the little remaining time. (AP Photo/Kirsty Wigglesworth)

UK says Brexit trade talks with EU are in their 'last week'

Nov. 29, 2020 7:24 AM EST

LONDON (AP) — Britain’s foreign minister said Sunday there is only about a week left for the U.K. and the European Union to strike a post-Brexit trade deal, with fishing rights the major obstacle to an agreement. As talks continued between the two sides in London, Foreign Secretary Dominic Raab said...

EU chief negotiator Michel Barnier, center, and his team in Westminster, London, Saturday Nov. 28, 2020, ahead of talks with the UK Government. Teams from Britain and the European Union are resuming face-to-face talks on a post-Brexit trade deal, but both sides sound gloomy about striking an agreement in the little remaining time. (Victoria Jones/PA via AP)

UK, EU resume face-to-face trade talks with time running out

Nov. 28, 2020 7:21 AM EST

LONDON (AP) — Teams from Britain and the European Union resumed face-to-face talks on a post-Brexit trade deal Saturday, with both sides sounding gloomy about striking an agreement in the little time that remains. EU chief negotiator Michel Barnier returned to London to meet his U.K. counterpart David...

Michigan restaurant leaves franchise over virus restrictions

Nov. 27, 2020 8:59 PM EST

A Big Boy restaurant in Michigan’s Thumb region has lost its name after the owners refused to stop indoor dining as part of statewide restrictions to slow the spread of the coronavirus. Customers were greeted Friday with Sandusky Diner instead of Sandusky Big Boy, the name for 35 years. The company that...

A staff member wearing a face mask stands near a display of Australian wines at the China International Import Expo in Shanghai, Thursday, Nov. 5, 2020. Chinese leaders are conducting an import fair under intensive anti-coronavirus controls in their latest effort to revive the world's No. 2 economy while the United States and Europe struggle with a renewed surge of infections. (AP Photo/Mark Schiefelbein)

China slaps 200% tax on Australia wine amid tensions

Nov. 27, 2020 9:55 AM EST

BEIJING (AP) — China on Friday added wine to the growing list of Australian goods barred from its markets in a trade war against Australia over disputes including its support for a probe into the origin of the coronavirus. The Ministry of Commerce imposed import taxes of up to 212.1%, effective Saturday,...

Brompton folding bicycles are assembled by hand at the Brompton factory in west London, Tuesday, Nov. 24, 2020. The team at Brompton Bicycles company thought they were prepared for Britain's Brexit split with Europe, but they face uncertainty about supplies and unexpected new competition from China, all amid a global COVID pandemic.(AP Photo/Matt Dunham)

British bike maker pedals on, with Brexit deal up in the air

Nov. 27, 2020 9:31 AM EST

LONDON (AP) — The team at Brompton Bicycle Ltd. thought they were prepared for Brexit. Bosses at the British firm, which exports hand-made folding bikes to 47 countries, looked at the uncertainty swirling around the U.K.’s decision to leave the European Union and started stockpiling parts. Yet with...

FILE - In this Wednesday, Nov. 18, 2020 file photo, lobsters sit in a crate at a shipping facility in Arundel, Maine. The European Union parliament on Thursday, Nov. 26, 2020 approved a mini trade deal with the United States, which includes the elimination of customs duties on U.S. lobster imports. The passage by a vote of with 638 votes for, 45 against and 11 abstentions was the last major political step for the deal to come into effect. (AP Photo/Robert F. Bukaty, FIle)

EU parliament backs lobster deal and EU-US mini trade pact

Nov. 26, 2020 3:35 PM EST

BRUSSELS (AP) — Thanksgiving just got a little bit better for the Maine lobster industry. The European Union parliament on Thursday approved a mini trade deal with the United States, which includes the elimination of customs duties on U.S. lobster imports. The passage with 638 votes for, 45 against and 11...

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...

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...

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...

At their November meeting, Fed officials discussed possible future adjustments to asset purchases to boost the economy

Nov. 25, 2020 2:14 PM EST
WASHINGTON (AP) — At their November meeting, Fed officials discussed possible future adjustments to asset purchases to boost the economy.