Latest Economy News

Activist, historian, writer among `genius grant' recipients

Sep. 28, 2021 18:33 PM EDT

CHICAGO (AP) — A historian devoted to keeping alive the stories of long-dead victims of racial violence along the Texas-Mexico border and a civil rights activist whose mission is to make sure people who leave prison are free to walk into the voting booth are among this year’s MacArthur...

The AP Interview: Haiti PM plans to hold elections next year

Sep. 28, 2021 18:10 PM EDT

PORT-AU-PRINCE, Haiti (AP) — Struggling with political turmoil and the aftermath of an earthquake, Haiti's prime minister said Tuesday that he plans to hold a referendum to modify the country's constitution by February, and he hopes to organize presidential and legislative elections early...

Cooper: I'll seek public school spending surge in NC budget

Sep. 28, 2021 17:14 PM EDT

RALEIGH, N.C. (AP) — Soon entering the critical phase of North Carolina's budget talks, Democratic Gov. Roy Cooper said Tuesday he would aim to get Republican lawmakers to fund public education improvements a judge says the state must start implementing. Addressing a...

Spike in bond yields spooks investors, deflates tech stocks

Sep. 28, 2021 16:47 PM EDT

Technology companies led a broad slide in stocks on Wall Street Tuesday, deepening the market's September swoon. The S&P 500 fell 2%, its worst drop since May. The tech-heavy Nasdaq dropped 2.8%, its biggest drop since March. Decliners outnumbered advancers on the...

How major US stock indexes fared Tuesday

Sep. 28, 2021 16:42 PM EDT

Technology companies led a broad slide in stocks on Wall Street Tuesday as investors reacted to a surge in U.S. government bond yields. The benchmark S&P 500 index had its worst drop since May, and the tech-heavy Nasdaq had its worst drop since March. The main action...

Yellen says infrastructure overhaul will US boost economy

Sep. 28, 2021 16:07 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen said Tuesday that President Joe Biden's spending proposals will address long-overdue U.S. infrastructure needs and prepare the country to meet future challenges. In remarks before the National Association for Business...

Yellen warns delay in raising debt limit will slow economy

Sep. 28, 2021 15:41 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen sounded an urgent call Tuesday for Congress to raise the government's borrowing limit, a day after Senate Republicans blocked consideration of a bill that would have done so. If the debt limit isn’t raised by Oct....

Green energy takes hold in unlikely places with Ford project

Sep. 28, 2021 15:27 PM EDT

GLENDALE, Ky. (AP) — When Ford revealed plans to ramp up its commitment to the fledgling electric vehicle sector, the automaker chose to create thousands of jobs and pump billions in investments into two states where Republican leaders have vilified the push for green energy and defended...

US to allow visa-free travel for visitors from Croatia

Sep. 28, 2021 15:08 PM EDT

WASHINGTON (AP) — The U.S. government said Tuesday that Croatia would soon join the countries whose people can visit without a visa in a sign of closer economic and security ties. The State Department and Department of Homeland Security said in a joint statement that...

Gov. Lee: $500 million incentive package for Ford factory

Sep. 28, 2021 14:43 PM EDT

MEMPHIS, Tenn. (AP) — Tennessee offered $500 million in incentives for the creation of a $5.6 billion campus where Ford Motor Co. plans to build electric F-Series pickup trucks at the Memphis Regional Megasite industrial complex, Gov. Bill Lee said Tuesday. The...