Latest Economy News

People wait in line for the COVID-19 vaccine in Paterson, N.J., Thursday, Jan. 21, 2021. The first people arrived around 2:30 a.m. for the chance to be vaccinated at one of the few sites that does not require an appointment. (AP Photo/Seth Wenig)

The Latest: US Chamber of Commerce likes Biden's virus plan

Jan. 21, 2021 1:53 PM EST

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...

FILE - This Monday, Nov. 23, 2020 file photo shows the New York Stock Exchange, right, in New York. Stocks are churning close to the breakeven line in the early going on Wall Street Thursday, Jan. 21, 2021,  as traders increase their focus on company earnings reports.  (AP Photo/Seth Wenig)

Stocks drift around records in mixed trading on Wall Street

Jan. 21, 2021 1:27 PM EST

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...

FILE - In this Sept. 13, 2019, file photo the logo for Union Pacific appears above a trading post on the floor of the New York Stock Exchange. 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, Jan. 21, 2021, that it earned $1.38 billion, or $2.05 per share, in the quarter, but the results were weighed down by a one-time charge of $278 million.  (AP Photo/Richard Drew, File)

Union Pacific delivered 3% more freight as economy recovered

Jan. 21, 2021 1:10 PM EST

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...

Security forces work at the site of a deadly bomb attack in a market selling used clothes, Iraq, Thursday, Jan. 21, 2021. Twin suicide bombings hit Iraq's capital Thursday killing and wounding civilians, police and state TV said.

Twin suicide bombings rock central Baghdad, at least 32 dead

Jan. 21, 2021 12:32 PM EST

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

Jan. 21, 2021 12:18 PM EST

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...

Transportation Secretary nominee Pete Buttigieg speaks during a Senate Commerce, Science and Transportation Committee confirmation hearing on Capitol Hill, Thursday, Jan. 21, 2021, in Washington. (Ken Cedeno/Pool via AP)

Biden Cabinet: Buttigieg urges big funds for Transportation

Jan. 21, 2021 12:15 PM EST

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...

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US long-term mortgage rates slip; 30-year loan at 2.77%

Jan. 21, 2021 12:13 PM EST

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...

Sudanese Prime MInister Abdullah Hamdok, right, bumps elbows with British Foreign Secretary, Dominic Raab in the Cabinet Building, in Khartoum, Sudan, Thursday, Jan. 21, 2021. Raab was in the Sudanese capital Thursday to discuss bilateral relations and tensions along the border with Ethiopia, Sudan's state news agency reported. (AP Photo)

UK backs Sudan economic reforms with over $50 million

Jan. 21, 2021 12:10 PM EST

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...

The Ramlet al-Baida public beach is empty during a lockdown aimed at curbing the spread of the coronavirus, in Beirut Lebanon, Thursday, Jan. 21, 2021. Authorities 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. (AP Photo/Bilal Hussein)

Lebanon extends lockdown into February as virus numbers rise

Jan. 21, 2021 11:26 AM EST

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...

In this October 2019 photo provided by Pocho Sanchez, Daniela Dominguez, assistant professor in counseling psychology at University of San Francisco, draws and chats with children from Honduras at a migrant camp in Matamoros, Mexico. Dominguez said mutual aid networks are part of the Latino culture where people may feel safer getting help from their own community rather than government entities or formal charities. (Pocho Sanchez via AP)

Mutual aid networks find roots in communities of color

Jan. 21, 2021 11:16 AM EST

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...