Latest Economy News

FILE - Signs for Wall Street are shown, Thursday, July 30, 2020, in New York.  Stocks are off to a weak start on Wall Street, Tuesday, Aug. 4  as investors keep a close eye on talks in Congress over the next installment of badly needed relief for people whose livelihoods and businesses were impacted by coronavirus lockdowns. (AP Photo/Mark Lennihan)

Wall Street drifts as stock rally takes a pause; yields drop

Aug. 4, 2020 10:52 AM EDT

NEW YORK (AP) — U.S. stocks are drifting between small gains and losses Tuesday as Wall Street takes a pause following its big rally over the last couple months. The S&P 500 was virtually flat in morning trading after earlier flipping from a loss of 0.2% to a similar gain. The Dow Jones Industrial...

Riot police scuffle with anti-government protesters outside the Ministry of Energy and Water in Beirut, Lebanon, Tuesday, Aug. 4, 2020. Dozens of Lebanese protesters tried to storm the Ministry of Energy on Tuesday, angered by prolonged power cuts as the country grapples with a crippling economic crisis. (AP Photo/Hassan Ammar)

Lebanese try to storm Energy Ministry amid power cuts

Aug. 4, 2020 10:50 AM EDT

BEIRUT (AP) — Dozens of Lebanese protesters tried to storm the Ministry of Energy on Tuesday, angered by prolonged power cuts as the country grapples with a crippling economic crisis. Security forces pushed back against the angry protesters, chasing away some who breached the ministry perimeter. Scuffles...

A homeless man sleeps in front of a store at the financial district during a government-ordered lockdown to curb the spread of COVID-19 in Buenos Aires, Argentina, Thursday, May 21, 2020. Friday is the deadline for Argentina to reach an agreement with its bondholders about a restructuring of the debt. If bondholders do not accept the Argentine offer or the country does not pay interest due May 22, Argentina will default on its debt for the ninth time in its history. (AP Photo/Natacha Pisarenko)

Argentina reports debt restructuring deal with creditors

Aug. 4, 2020 9:28 AM EDT

BUENOS AIRES, Argentina (AP) — Argentina's government said Tuesday it has reached agreement with its principle creditors to restructure more than $65 billion in foreign debt following seven months of negotiations and shifting deadlines. The government of President Alberto Fernández said the deal means...

FILE - In this Aug. 7, 2019, file photo, bottles of extracted cannabis oil are displayed during a press conference at Thailand's Health Ministry in Bangkok, Thailand. Thailand’s Cabinet on Tuesday approved a proposal from the Public Health Ministry that would allow health professionals, farmers and medical patients to grow, produce and export cannabis and its products. (AP Photo/Sakchai Lalit, File)

Thai Cabinet approves draft law expanding access to cannabis

Aug. 4, 2020 9:18 AM EDT

BANGKOK (AP) — Thailand’s Cabinet on Tuesday approved a proposal from the Public Health Ministry that would allow health professionals, farmers and medical patients to grow, produce and export cannabis and its products. Deputy government spokeswoman Trisulee Trisaranakul said Public Health Minister...

Zimbabwe journalist Hopewell Chin'ono appears at the magistrates courts while handcuffed in Harare, Wednesday, July, 22, 2020. Chin'ono known for exposing alleged government corruption is now accused of plotting against the government. Hopwell Chin'ono appeared alongside Jacob Ngarivhume, an opposition politician who is accused of conspiring with to mobilize anti government protests planned for July 31.(AP Photo/Tsvangirayi Mukwazhi)

Zimbabwe president unapologetic about arrests of critics

Aug. 4, 2020 8:57 AM EDT

HARARE, Zimbabwe (AP) — Zimbabwe’s president has labeled the main opposition party “terrorist” and vowed to continue a clampdown in which scores of opposition members and government critics have been arrested and rights groups allege security forces have carried out illegal abductions...

F|ILE - In this file photo dated Tuesday, Jan. 28, 2020, the British Union flag, right, and the EU flag, seen inside the atrium at the Europa building in Brussels. The number of Britons moving to live in European Union countries has soared since the Brexit vote in 2016, a U.K.-German study has revealed Tuesday Aug. 4, 2020.(AP Photo/Virginia Mayo, FILE)

Researchers say UK faces a Brexit brain drain to the EU

Aug. 4, 2020 8:17 AM EDT

LONDON (AP) — The number of Britons moving to European Union countries soared after the Brexit vote in 2016, according to a U.K.-German study released Tuesday — an exodus comparable to those caused by major social or economic crises. An analysis of official statistics by the Oxford in Berlin...

FILE In this file photo taken on Friday, July 3, 2020, Belarus President Alexander Lukashenko looks on during Independence Day celebrations, in Minsk, Belarus. Lukashenko, a 65-year-old former Soviet state farm director, who has ruled Belarus with an iron fist for 26-years, has faced the largest opposition protests against his rule as he runs for re-election in Sunday's presidential vote. (AP Photo/Sergei Grits, File)

Belarus leader pledges allegiance to Russia ahead of vote

Aug. 4, 2020 7:19 AM EDT

MINSK, Belarus (AP) — Belarus's authoritarian leader vowed Tuesday to maintain a close alliance with Russia despite the latest tensions as he seeks a sixth term in office amid a surge of opposition protests. In a state-of-the-nation address ahead of Sunday's election, President Alexander Lukashenko said...

ADB to lend Thailand $1.5 billion to aid virus response

Aug. 4, 2020 7:10 AM EDT

BANGKOK (AP) — The Asian Development Bank announced Tuesday it will provide a $1.5 billion loan to Thailand to aid its response to the coronavirus pandemic. Thailand’s Cabinet approved the borrowing plan at its weekly meeting, deputy government spokeswoman Ratchada Thanadirek announced separately....

Laith Jabbar, a gas station worker drinks water in Basra, Iraq, Monday, July. 27, 2020. As temperatures soar to record levels this summer, Iraq's power supply falls short of demand again, providing a spark for renewed anti-government protests. Amid a nationwide virus lockdown, homes are without electricity for hours in the blistering heat. (AP Photo/Nabil al-Jurani)

Record heat, politics inflame Iraq's electricity shortages

Aug. 4, 2020 5:27 AM EDT

BASRA, Iraq (AP) — In Iraq’s oil-rich south, the scorching summer months pose painful new choices in the age of the coronavirus: stay at home in the sweltering heat with electricity cut off for hours, or go out and risk the virus. This is Zain al-Abidin’s predicament. A resident of al-Hartha...

A Sri Lankan polling officer carries election material to dispatch them to polling centers ahead of the parliamentary elections in Colombo, Sri Lanka, Tuesday, Aug. 4, 2020. Sri Lankans are voting in parliamentary elections Wednesday that are expected to strengthen President Gotabaya Rajapaksa's grip on power. Parts of the party are also calling for a two-thirds majority in Parliament so it can amend the constitution to restore presidential powers curbed by a 2015 constitutional change. (AP Photo/Eranga Jayawardena)

A glance at Sri Lanka and its parliamentary elections

Aug. 4, 2020 3:12 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lankans are voting in parliamentary elections Wednesday that are expected to strengthen President Gotabaya Rajapaksa's grip on power. His party has campaigned for a strong government that will enable Rajapaksa to fulfill his presidential election pledges. Parts of the party...