Latest Economy News

Russian President Vladimir Putin, centre, and Belarusian President Alexander Lukashenko, left, walk during their meeting in the Black sea resort of Sochi, Russia, Friday, Feb. 7, 2020. Russian President Vladimir Putin is hosting the leader of Belarus for another round of talks on closer integration amid mounting Russian economic pressure on its ex-Soviet ally. (AP Photo/Alexander Zemlianichenko, Pool)

Presidents of Russia, Belarus discuss oil price dispute

Feb. 21, 2020 7:59 AM EST

MOSCOW (AP) — The presidents of Russia and Belarus discussed their continuing oil price dispute Friday that disrupted steady supplies of oil from Russia to its neighboring ex-Soviet state. Russia halted oil supplies to Belarus earlier this year amid disagreement over the price Belarus would pay in 2020...

A voter casts his ballot in the parliamentary elections in a polling station in Tehran, Iran, Friday, Feb. 21, 2020. Iranians began voting for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and isolate the country diplomatically. (AP Photo/Vahid Salemi)

Iran votes in parliament elections that favor conservatives

Feb. 21, 2020 7:43 AM EST

TEHRAN, Iran (AP) — Iranians voted for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and U.S. pressure isolates the country diplomatically. The disqualification of more than 7,000 potential candidates, most of them reformists...

In this Feb. 20, 2020, photo, a worker sits at a production line at a microelectronics factory in Nantong in eastern China's Jiangsu Province. China on Friday suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington that threatened global economic growth. (Chinatopix via AP)

China suspends more penalties on US goods after trade truce

Feb. 21, 2020 7:19 AM EST

BEIJING (AP) — China on Friday suspended more punitive tariffs on imports of U.S. industrial goods in response to a truce in its trade war with Washington that threatened global economic growth. Financial markets have welcomed announcements by both sides of reductions in penalties on each other's goods,...

FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)

World markets slip on renewed fears over virus outbreak

Feb. 21, 2020 7:06 AM EST

BEIJING (AP) — Global stock markets slipped on Friday after a spike in new virus cases in South Korea and other countries refueled investor anxiety about China's disease outbreak. Benchmarks in Tokyo, Hong Kong and Sydney closed down and London, Frankfurt and other European indexes were trading lower. Wall...

Commuters by with the buildings of the banking district in background in Frankfurt, Germany, Thursday, Feb. 6, 2020. (AP Photo/Michael Probst)

Eurozone economy picks up despite virus disruption

Feb. 21, 2020 5:53 AM EST

LONDON (AP) — Business in the 19-country eurozone has picked up in February from a deep slump, particularly in Germany's big industrial sector, despite disruption from the new coronavirus, a report showed Friday. A survey of business managers by financial firm IHS Markit showed that the economy expanded in...

Japan’s Prime Minister Shinzo Abe speaks to reporters at his prime minister's official residence in Tokyo, Feb. 21, 2020. Prime Minister Shinzo Abe should be basking in the limelight this year in the run-up to the 2020 Tokyo Olympics. Instead, the virus outbreak that has spread from China to even remote parts of Japan has Abe and his ruling Liberal Democratic Party playing defense. (Yoshitaka Sugawara/Kyodo News via AP)

Outbreak, economic ills dim luster of Japan's Olympic year

Feb. 21, 2020 5:33 AM EST

TOKYO (AP) — Prime Minister Shinzo Abe should be basking in the limelight this year in the run-up to the 2020 Tokyo Olympics. Instead, the virus outbreak that has spread from China to even remote parts of Japan has Abe and his ruling Liberal Democratic Party playing defense. Abe has skated through numerous...

FILE - In this Jan. 30, 2020, file photo, travelers wearing face masks stand in line at the check-in counters for Cathay Pacific at Shanghai Pudong International Airport in Shanghai, China. The outbreak of the new virus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association. (AP Photo/Erika Kinetz, File)

IATA: Virus may slash $29 billion from airlines' revenue

Feb. 21, 2020 1:03 AM EST

TOKYO (AP) — The outbreak of the new virus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association. The trade group for global airlines said Thursday that the virus causing...

In this Feb. 12, 2020 photo, a protester holds a sign that reads in Creole

UN envoy: Haiti's political crisis sends economy tumbling

Feb. 20, 2020 10:09 PM EST

UNITED NATIONS (AP) — The political impasse that has paralyzed Haiti is sending its economy deeper into recession, with 4.6 million people needing humanitarian aid — and there is no immediate end in sight, the U.N. envoy for Haiti said Thursday. Helen La Lime told the U.N. Security Council that the...

Republican lawmakers including House Republican minority leader James Townsend of Artesia, top center, consult with the lead attorney for the legislature, Legislative Council Service Director Raúl Burciaga, bottom left, as tensions flare between Republicans and Democrats on procedural maneuvers on Thursday, Feb. 20, 2020, in Santa Fe, N.M. The Legislature approved a $7.6 billion budget in the final hours of a 30-day legislative session that also included pension reforms, new college scholarships, stricter oversight of tobacco sales, new investments in early childhood education and incentives for rooftop solar. (AP Photo/Morgan Lee)

New Mexico lawmakers reach budget deal as tense session ends

Feb. 20, 2020 9:47 PM EST

SANTA FE, N.M. (AP) — New Mexico legislators forged a budget agreement Thursday that increases annual spending on government programs and school districts by more than a half-billion dollars, with new investments in early childhood education and college scholarships in a state afflicted by high rates of...

Colorado House tables bill protecting employee marijuana use

Feb. 20, 2020 9:46 PM EST

DENVER (AP) — Colorado legislators declined to advance a bill meant to protect employees from being fired for using marijuana during their personal time. The 10 members of the House Business Affairs and Labor Committee voted unanimously against the bill Wednesday, The Denver Post reported. The measure...