Latest Economy News

Trump acknowledges China polices may mean US economic pain

Aug. 20, 2019 6:17 PM EDT

WASHINGTON (AP) — President Donald Trump acknowledged Tuesday his aggressive China trade policies may mean economic pain for Americans but insisted they're needed for more important long-term benefits. He insisted he's not fearing a recession but is nonetheless considering new tax cuts to promote growth....

Major US stock indexes finish lower, snapping a 3-day rally

Aug. 20, 2019 5:10 PM EDT

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market. The selling pulled every major sector lower, snapping a three-day winning streak for the S&P 500. Financial sector stocks bore the brunt of the decline as investors...

Sudan protesters, army announce new ruling body after deal

Aug. 20, 2019 5:04 PM EDT

CAIRO (AP) — Sudan's pro-democracy movement and the army announced a joint ruling body on Tuesday, formally disbanding the military council that took power after the ouster of longtime autocrat Omar al-Bashir in April. The new, 11-member body — called the Sovereign Council — is to rule Sudan...

How major US stock indexes fared Tuesday

Aug. 20, 2019 5:04 PM EDT

Stocks fell broadly on Wall Street Tuesday after another slide in bond yields and a mixed batch of corporate earnings weighed on the market. The selling pulled every major sector lower, snapping a three-day winning streak for the S&P 500. Banks took the biggest losses as investors reacted to another drop in...

Missouri cites economy, eligibility checks for Medicaid drop

Aug. 20, 2019 4:40 PM EDT

JEFFERSON CITY, Mo. (AP) — Missouri officials are citing an improved economy as one of several factors that led to close to 90,000 children being dropped from the state's Medicaid health insurance program in the past year, although some lawmakers are still unsatisfied with the explanation. Acting Social...

Execs starting to worry about tariffs' effects on consumers

Aug. 20, 2019 4:38 PM EDT

Americans continue to shop, vacation and buy cars at a brisk clip. But corporate America is starting to worry out loud that President Donald Trump's tariffs will depress consumer spending and undermine the economy. Home Depot, the nation's largest home improvement chain, said as much on Tuesday, when it reported...

Markets Right Now: Banks lead major US stock indexes lower

Aug. 20, 2019 4:07 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Financial companies led a modest slide by stocks on Wall Street as a mixed batch of company earnings and declining bond yields weighed on the market. The selling pulled every major sector lower on Tuesday, snapping a...

AP Explains: US sanctions on Huawei bite, but who gets hurt?

Aug. 20, 2019 3:39 PM EDT

Chinese technology giant Huawei has yet to feel the full force of U.S. sanctions due to temporary exemptions and other uncertainties. Nonetheless, Huawei founder Ren Zhengfei says he expects no permanent relief because of the political climate in Washington. In an interview with The Associated Press, he also...

New Argentina treasury minister guarantees peso stability

Aug. 20, 2019 3:37 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina will guarantee the stability of the peso after the local currency's recent crash and the government will meet its commitments with the International Monetary Fund, the country's new treasury minister said Tuesday. "This is a complex situation," Hernán Lacunza...

Panel takes troubled Dubai developer's disputes in downturn

Aug. 20, 2019 1:31 PM EDT

DUBAI, United Arab Emirates (AP) — A special committee will "resolve multiple disputes" involving a Dubai government-owned developer that faces a series of lawsuits, the city-state said Tuesday, a sign of renewed economic problems in this desert sheikhdom that's home to the world's tallest skyscraper. The...