Latest Economy News

Norway ups key policy rate, cites normalized economy

Sep. 23, 2021 04:51 AM EDT

COPENHAGEN, Denmark (AP) — Norway’s central bank on Thursday raised its key policy interest rate by a quarter of a percentage point to 0.25%, citing the normalization of the economy that suggest “there is no longer a need to maintain the current degree of monetary accommodation.” ...

Taiwan asks to join trade group, says China might interfere

Sep. 23, 2021 04:47 AM EDT

TAIPEI, Taiwan (AP) — Taiwan announced Thursday it has applied to join an 11-nation Pacific trade group, setting up a potential clash with rival Beijing over the status of the island democracy. The Chinese government, which claims Taiwan as part of its territory, gave...

World shares advance after Fed signals it will ease support

Sep. 23, 2021 04:01 AM EDT

World shares were mostly higher Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the U.S. economy later this year. Benchmarks rose in Paris, London, Hong Kong, Shanghai and most other markets. U.S. futures were higher....

Climate change tops agenda as Iceland heads to elections

Sep. 23, 2021 03:09 AM EDT

REYKJAVIK , Iceland (AP) — Climate change is top of the agenda when voters in Iceland head to the polls for general elections on Saturday, following an exceptionally warm summer and an election campaign defined by a wide-reaching debate on global warming. All nine...

Mideast in shambles, but the world has moved on for now

Sep. 23, 2021 02:12 AM EDT

BEIRUT (AP) — There was a time not long ago when uprisings and wars in the Arab world topped the agenda at the U.N. General Assembly meetings in New York. With most of those conflicts in a stalemate, the world’s focus has shifted to more daunting global challenges...

New Mexico reduces insurance premiums on state exchange

Sep. 23, 2021 00:40 AM EDT

SANTA FE, N.M. (AP) — Health care access is getting substantially cheaper on the state's health insurance exchange though a combination of state tax proceeds, federal pandemic aid and a growing pool of subscribers. An update on pandemic relief spending from the...

EXPLAINER: Why the debt limit is again roiling Washington

Sep. 23, 2021 00:32 AM EDT

WASHINGTON (AP) — The idea of the U.S. government breaching its “debt limit” sounds scary. But what, exactly, are lawmakers in Washington fighting about? The debt limit is a nearly century-old artificial cap that Congress placed on the U.S. government's ability to...

Asian shares, Wall Street hold gains after Fed statement

Sep. 22, 2021 21:54 PM EDT

Asian shares were mostly higher on Thursday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year. Shares rose in Hong Kong, Shanghai, Australia and Taiwan but fell in South Korea and Malaysia. U.S....

Indonesia leader lays out priorities for G-20 presidency

Sep. 22, 2021 21:23 PM EDT

NEW YORK (AP) — Indonesia's leader said Wednesday that inclusiveness and a sustainable, green economy would be among his priorities when he assumes the G-20 presidency next year. In a recorded statement to the U.N. General Assembly, Indonesian President Joko Widodo...

Business group: China's tech self-reliance plans hurt growth

Sep. 22, 2021 21:08 PM EDT

BEIJING (AP) — The ruling Communist Party’s campaign to tighten control over China’s industries and use less foreign technology is slashing economic growth, a foreign business group warned Thursday. The European Union Chamber of Commerce in China appealed to Beijing...