Latest Economy News

Britain urges Germany to ease curbs on arms sales to Saudi

Feb. 20, 2019 11:41 AM EST

BERLIN (AP) — Britain's top diplomat has urged Germany to relax its ban on arms sales to Saudi Arabia because they are affecting U.K. sales of weapons to — and by extension its influence with — the oil-rich kingdom. The German weekly Der Spiegel reported Wednesday that British Foreign...

US stocks edge higher in early trading, extending gains

Feb. 20, 2019 10:25 AM EST

U.S. stock indexes edged higher in early trading Wednesday, extending modest gains from a day earlier, as investors reviewed the latest batch of company earnings reports. Gains in consumer goods, technology and communications companies outweighed losses in health care and financial stocks. Garmin, maker of...

Possible peace declaration looms large over Trump-Kim summit

Feb. 20, 2019 9:26 AM EST

TOKYO (AP) — With their second summit fast approaching, speculation is growing that U.S. President Donald Trump may try to persuade North Korean leader Kim Jong Un to commit to denuclearization by giving him something he wants more than almost anything else: an announcement of peace and an end to the...

Trouble at CVS Health long-term care business weighs heavily

Feb. 20, 2019 9:16 AM EST

CVS Health beat fourth-quarter earnings forecasts, but a struggling long-term care business took another huge bite out of the company's performance and its initial 2019 forecast was weaker than expected. Shares tumbled nearly 9 percent before the opening bell Wednesday. CEO Larry Merlo said in a prepared...

World shares mostly higher on upbeat talk on China-US trade

Feb. 20, 2019 7:20 AM EST

BANGKOK (AP) — Stocks were mostly higher in Europe and Asia on Wednesday after U.S. President Donald Trump suggested trade talks with China do not face a hard March 1 deadline for a deal. Negotiators from both sides resumed talks Tuesday in Washington following discussions in Beijing last week that U.S....

Academic: Very few climate change doubters, issue now action

Feb. 20, 2019 5:48 AM EST

NICOSIA, Cyprus (AP) — A prominent American economist says there are "very few" individuals left who still doubt climate change because the evidence of its impact is clear. Columbia University Professor Jeffrey Sachs told the Associated Press Wednesday that public discourse has moved beyond whether climate...

Japan trade deficit highest in 5 yrs, hit by China doldrums

Feb. 20, 2019 12:19 AM EST

TOKYO (AP) — Japan reports its exports tumbled 8.4 percent in January from a year earlier, as slowing Chinese growth pushed its monthly trade deficit to the highest level in nearly five years. Exports to all of Asia dropped 13 percent year-on-year, largely due to the 17 percent plunge in shipments to...

A look at rival Branson vs Maduro concerts for Venezuela

Feb. 19, 2019 11:19 PM EST

CARACAS, Venezuela (AP) — Dueling concerts are being staged this week on both sides of Venezuela's border with Colombia. After billionaire Richard Branson announced an aid concert in Colombia on Friday to benefit Venezuelans suffering food and medicine shortages amid their country's economic crisis,...

Asian shares mostly higher, extending Wall St advance

Feb. 19, 2019 11:03 PM EST

BANGKOK (AP) — Shares were mostly higher in Asia on Wednesday after a modestly high finish on Wall Street that extended the market's gains into a fourth week. The Nikkei 225 index rose 0.6 percent despite news that Japan's exports sank 8.4 percent in January from a year earlier, far more than forecast....

US automakers to Trump: Don't slap tariffs on imported cars

Feb. 19, 2019 9:51 PM EST

DETROIT (AP) — America's auto industry is bracing for a potential escalation in President Donald Trump's tariff war with the world, one that could weaken the global auto industry and economy, inflate car prices and trigger a backlash in Congress. Late Sunday, the Commerce Department sent the White House a...