Latest Economy News

Russia strikes Kyiv as Western leaders meet in Europe

Jun. 26, 2022 14:03 PM EDT

KYIV, Ukraine (AP) — Russia shattered weeks of relative calm in the Ukrainian capital with long-range missiles fired toward Kyiv early Sunday, an apparent Kremlin show-of-force as Western leaders meet in Europe to strengthen their military and economic support of Ukraine. Kyiv...

Biden urges Western unity on Ukraine amid war fatigue

Jun. 26, 2022 13:48 PM EDT

ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the...

EXPLAINER: What's the impact of a Russian debt default?

Jun. 26, 2022 13:04 PM EDT

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day...

Destruction everywhere, help scarce after Afghanistan quake

Jun. 26, 2022 12:56 PM EDT

GAYAN, Afghanistan (AP) — When the ground heaved from last week’s earthquake in Afghanistan, Nahim Gul’s stone-and-mud house collapsed on top of him. He clawed through the rubble in the pre-dawn darkness, choking on dust as he searched for his father and two sisters. He doesn't...

Live updates | G-7 nations seek to counter Chinese influence

Jun. 26, 2022 11:40 AM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in Germany's Bavarian Alps: The Group of Seven leading democratic economies has formally launched at its annual summit a global infrastructure...

NLRB's top prosecutor seeks big changes, faces uphill battle

Jun. 26, 2022 10:04 AM EDT

As workers at major companies increasingly move to unionize, the political environment for labor couldn’t be more ripe. Perhaps nowhere is that more accurate than at the National Labor Relations Board, the agency that enforces the country’s labor laws and oversees union...

Did corporate greed fuel inflation? It's not biggest culprit

Jun. 26, 2022 09:27 AM EDT

WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of...

Senior US officials visit Sri Lanka to help resolve crisis

Jun. 26, 2022 06:49 AM EDT

COLOMBO, Sri Lanka (AP) — Senior U.S. officials arrived in Sri Lanka on Sunday to find ways to help the island nation in the throes of an unprecedented economic crisis and severe shortages of essential supplies, as the energy minister warned that new fuel shipments would be delayed. ...

Biden: Group of Seven nations to announce ban on Russian gold imports in latest round of sanctions over Ukraine war

Jun. 26, 2022 03:34 AM EDT
ELMAU, Germany (AP) — Biden: Group of Seven nations to announce ban on Russian gold imports in latest round of sanctions over Ukraine war.

EXPLAINER: Why Germany is pushing for a 'climate club'

Jun. 26, 2022 02:17 AM EDT

BERLIN (AP) — Germany is hosting this year’s meeting of leaders from the Group of Seven leading economies in the Bavarian resort of Elmau. Before the invasion of Ukraine by Russia triggered a cascade of crises over food, energy and international security, the main focus of the meeting was meant...