Latest Economy News

Brexit Party leader Nigel Farage speaks during a media conference at the European Parliament in Brussels, Wednesday, Jan. 29, 2020. The U.K. is due to leave the EU on Friday, Jan. 31, 2020, the first nation in the bloc to do so. It then enters an 11-month transition period in which Britain will continue to follow the bloc's rules while the two sides work out new deals on trade, security and other areas. (AP Photo/Virginia Mayo)

The end is nigh: European Parliament to approve Brexit

Jan. 29, 2020 7:15 AM EST

BRUSSELS (AP) — The European Parliament on Wednesday is set to overwhelmingly approve the departure of the United Kingdom from the European Union — the final major decision in the four-year Brexit saga. With only two days to spare, the legislators will vote to approve the withdrawal agreement that...

In this Sunday, Jan. 28, 2020 photo, Ibrahim Elbadawi, Sudan's interim minister of finance, speaks in an interview in Khartoum, Sudan. Sudan is moving forward with an ambitious economic plan that will slash subsidies and replace them with direct cash payments to the poor, Elbadawi said. (AP Photo)

Sudan to tackle fuel subsidies as economy hangs on the edge

Jan. 29, 2020 6:41 AM EST

KHARTOUM, Sudan (AP) — Sudan hopes to cut fuel subsidies over the course of 18 months, starting as early as March, and replace them with direct cash payments to the poor, the country’s finance minister said, laying out a timetable for sweeping economic reforms sought by international lenders. The...

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 29, 2020. Shares are mostly higher in Asia after a rebound on Wall Street that reversed most losses from a sell-off the day before. (AP Photo/Ahn Young-joon)

World shares mostly higher after rebound on Wall Street

Jan. 29, 2020 4:58 AM EST

Shares advanced in most European and Asian markets on Wednesday after a rebound on Wall Street reversed most losses from a sell-off the day before. Hong Kong's Hang Seng dropped 2.8%, to 27,174.43 after its markets reopened from Lunar New Year holidays, while other Chinese markets remained closed. The U.S....

Mobile network phone masts are visible in front of St Paul's Cathedral in the City of London, Tuesday, Jan. 28, 2020.The Chinese tech firm Huawei has been designated a

In snub to US, Britain will allow Huawei in 5G networks

Jan. 29, 2020 1:47 AM EST

LONDON (AP) — Britain decided Tuesday to let Chinese tech giant Huawei have a limited role supplying new high-speed network equipment to wireless carriers, ignoring the U.S. government's warnings that it would sever intelligence sharing if the company was not banned. Britain's decision is the first by a...

President Donald Trump speaks during a campaign rally at the Wildwoods Convention Center Oceanfront, Tuesday, Jan. 28, 2020, in Wildwood, N.J. (AP Photo/ Evan Vucci)

Trump looks to sign trade deal, show wins during impeachment

Jan. 29, 2020 1:46 AM EST

WASHINGTON (AP) — President Donald Trump is eager to show off a big policy win during his impeachment trial by signing into law a major rewrite of the rules of trade with Canada and Mexico. Trump made renegotiating the North American Free Trade Agreement a priority during his 2016 campaign, although trade...

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 29, 2020. Shares are mostly higher in Asia after a rebound on Wall Street that reversed most losses from a sell-off the day before. (AP Photo/Ahn Young-joon)

Asian shares mostly higher after rebound on Wall Street

Jan. 28, 2020 11:47 PM EST

Shares advanced in most Asian markets on Wednesday after a rebound on Wall Street that reversed most losses from a sell-off the day before. Hong Kong's Hang Seng dropped 2.4%, to 27,289.55 after reopening from Lunar New Year holidays, while other Chinese markets remained closed. The U.S. rally overnight snapped...

FILE - This April, 2006, file photo shows the Four Corners Power Plant in Waterflow, N.M., near the San Juan River in northwestern New Mexico. The closure of the coal-fired power plant on the Navajo Nation sooner than expected will be a major blow to a region where coal has been a mainstay of the economy for decades.
Arizona Public Service Co. now plans to shutter the Four Corners Power Plant in 2031 when its coal contract expires rather than wait until 2038. (AP Photo/Susan Montoya Bryan, File)

Navajo look to Arizona utilities to make up for coal losses

Jan. 28, 2020 10:57 PM EST

FLAGSTAFF, Ariz. (AP) — As the coal industry nears its end on the Navajo Nation, the tribe is looking to Arizona utilities that shared in the power generated on the reservation to help make up for the financial losses and environmental impacts. Navajo leaders have requested nearly $62 million in an ongoing...

FILE - In this March 23, 2016 file photo, British futures trader Navinder Singh Sarao leaves after the ruling in his extradition hearing at Westminster Magistrates Court in London. A U.S. judge on Tuesday, Jan. 28, 2020, sentenced Navinder Singh Sarao, a socially awkward math whiz-turned-futures trader who helped trigger a U.S. stock market

Autistic futures trader who triggered crash spared prison

Jan. 28, 2020 9:53 PM EST

CHICAGO (AP) — A U.S. judge Tuesday sentenced a socially awkward math whiz-turned-futures trader who earned tens of millions of dollars over several years and helped trigger a U.S. stock market “flash crash” from his parents’ suburban London home to time served and a year's home...

A group of New Mexico sheriffs stand outside the New Mexico Senate in Santa Fe, N..M., on Tuesday, Jan. 28, 2019, before a committee debates proposals on gun control and legalizing marijuana. (AP Photo/Russell Contreras)

New Mexico recreational pot legalization passes 1st test

Jan. 28, 2020 8:42 PM EST

SANTA FE, N.M. (AP) — A Democrat-backed bill to legalize recreational marijuana businesses in all towns and counties across New Mexico passed its first test late Tuesday amid heighten interested from businesses and health care advocates. The Senate Public Affairs Committee voted 4-3 along party lines to...

Illinois Editorial Roundup:

Jan. 28, 2020 7:43 PM EST

January 26, 2020 (Decatur) Herald & Review Illinois Voter registration glitch a disaster In theory, automatic voter registration is a wonderful idea. Democracy is only as good as the number of people participating in it. Making it easier for voters to register should be a country-wide goal. It’s only...