Latest Economy News
The Latest: US Chamber of Commerce likes Biden's virus plan
WASHINGTON — The largest business lobbying group in the U.S. is supporting President Joe Biden’s early moves to confront the coronavirus pandemic. The U.S. Chamber of Commerce chief policy officer Neil Bradley says Biden is correct in his assessment that controlling the coronavirus is the key to...
Stocks drift around records in mixed trading on Wall Street
NEW YORK (AP) — Stocks are drifting around their record highs on Wall Street Thursday, as earnings season ramps into higher gear. The S&P 500 was unchanged in afternoon trading, a day after setting an all-time high amid enthusiasm about COVID-19 vaccines leading to an economic recovery and...
Union Pacific delivered 3% more freight as economy recovered
OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit chugged ahead as shipping volume improved for the first time since before the coronavirus pandemic slowed the economy to a crawl last year. The Omaha, Nebraska-based railroad said Thursday that it earned $1.38 billion, or $2.05 per share, in the...
Twin suicide bombings rock central Baghdad, at least 32 dead
BAGHDAD (AP) — Twin suicide bombings ripped through a busy market in the Iraqi capital on Thursday, killing at least 32 people and wounding dozens, officials said in what was the first massive bombing in years, harkening back to darker days of rampant militant attacks. The rare suicide bombing hit the Bab...
Bankers survey shows gains in rural economy of 10 states
OMAHA, Neb. (AP) — The rural economy in parts of 10 Plains and Western states continues to grow, but rural bank CEOs say their biggest fears for the 2021 economy are excessive inflation and higher long-term interest rates, according to a new monthly survey of bankers. The overall index of the Rural...
Biden Cabinet: Buttigieg urges big funds for Transportation
WASHINGTON (AP) — President Joe Biden’s nominee for secretary of transportation, Pete Buttigieg, appeared on a smooth path to quick confirmation, pledging to senators on Thursday to help carry out the administration’s ambitious agenda to rebuild the nation’s infrastructure. Speaking at...
US long-term mortgage rates slip; 30-year loan at 2.77%
WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week while remaining at record-low levels. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan eased to 2.77% from 2.79% last week. By contrast, the rate stood at 3.60% a year ago. The...
UK backs Sudan economic reforms with over $50 million
CAIRO (AP) — Britain's foreign secretary announced Thursday that his government would offer more than $50 million to help poor Sudanese families as their government embarks upon major austerity measures to revive its battered economy, Sudan's state news agency reported. On a visit to Khartoum, Dominic...
Lebanon extends lockdown into February as virus numbers rise
BEIRUT (AP) — Authorities in Lebanon on Thursday extended a nationwide lockdown by a week, to Feb. 8, amid a steep rise in coronavirus deaths and infections that has overwhelmed the health care system. Despite increasing the number of hospital beds in the country of nearly 6 million, doctors and nurses...
Mutual aid networks find roots in communities of color
Amid the unfolding disaster of COVID-19 have been moments of generosity, whether it's people pulling together support for college students who've been tossed out of dorms, or collecting money to help restaurant workers, street vendors and movie theater employees pay for their medicine, groceries and rent. These...
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