Latest Economic policy News

Turkish firm shuts down power supply for crisis-hit Lebanon

May. 14, 2021 14:17 PM EDT

BEIRUT (AP) — A Turkish company that provides electricity to Lebanon from two power barges shut down its operations on Friday over delayed payments and the threat of legal action against its vessels. The move is expected to increase outages in the crisis-hit Mediterranean country. ...

China accuses US of 'coercive diplomacy' after trade remarks

May. 14, 2021 05:58 AM EDT

BEIJING (AP) — China on Friday accused the United States of “coercive diplomacy” following comments by Secretary of State Antony Blinken to his Australian counterpart that the U.S. “will not leave Australia alone on the field — or maybe I should say ‘alone on the pitch’ — in...

Lawmakers OK COVID-19 spending bills; budget chief concerned

May. 13, 2021 21:37 PM EDT

LANSING, Mich. (AP) — Michigan legislators on Thursday approved mid-year spending bills, including billions of federal coronavirus relief to boost pay for frontline government workers, incentivize unemployed people to return to work and upgrade infrastructure. Under a...

Facebook-backed digital currency project Diem shifts to US

May. 12, 2021 21:18 PM EDT

A once-ambitious Facebook-backed digital currency project — formerly known as Libra, now called Diem — is shifting operations from Switzerland to the U.S. and said it plans to launch a cryptocurrency tied to the U.S. dollar later this year. As part of the move, Diem...

US files first trade complaint with Mexico under USMCA

May. 12, 2021 19:24 PM EDT

MEXICO CITY (AP) — The United States filed its first labor complaint with Mexico Wednesday under the U.S.-Mexico-Canada trade agreement, after an old-guard union was caught allegedly destroying ballots at a General Motors plant in northern Mexico. The U.S. Trade...

Editorial Roundup: South Carolina

May. 12, 2021 14:00 PM EDT

(Charleston) Post and Courier. May 10, 2021. Editorial: SC shouldn’t subsidize open carry, but Senate had one good idea about guns A week of debate in the Senate didn’t produce a good reason for South Carolina to let people carry handguns openly...

EXPLAINER: Why are fears of high inflation getting worse?

May. 12, 2021 12:14 PM EDT

WASHINGTON (AP) — Gas prices are rising. Auto prices are soaring. Consumer goods companies are charging more for household basics like toilet paper, peanut butter and soft drinks. All of which is resurrecting fears of an economic threat that has all but disappeared over...

UK economy showed resilience ahead of big lockdown easing

May. 12, 2021 10:13 AM EDT

LONDON (AP) — The British economy contracted by a quarterly rate of 1.5% in the first three months of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat a second wave of the coronavirus. The Office for National...

Top Fed official says Fed far from achieving its goals

May. 11, 2021 14:18 PM EDT

WASHINGTON (AP) — A top Federal Reserve official says the outlook for the U.S. economy is bright but the recent jobs report is a reminder that the path of the recovery is likely to be uneven and difficult to predict. Lael Brainard, a member of the Fed's board, said...

Australia plans big defense and security investments

May. 11, 2021 06:24 AM EDT

CANBERRA, Australia (AP) — The Australian government released a big-spending economic plan for the next fiscal year on Tuesday that includes hefty investments in defense and national security as relations with China worsen. The government plans to spend 270 billion...