Latest Economy News
Presidents of Russia, Belarus discuss oil price dispute
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...
Iran votes in parliament elections that favor conservatives
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...
China suspends more penalties on US goods after trade truce
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,...
World markets slip on renewed fears over virus outbreak
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...
Eurozone economy picks up despite virus disruption
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...
Outbreak, economic ills dim luster of Japan's Olympic year
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...
IATA: Virus may slash $29 billion from airlines' revenue
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...
UN envoy: Haiti's political crisis sends economy tumbling
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...
New Mexico lawmakers reach budget deal as tense session ends
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
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...
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