Latest Economy News

Asian benchmarks mostly lower after tepid Wall St session

Jul. 06, 2022 02:34 AM EDT

TOKYO (AP) — Asian shares were mostly lower Wednesday after tepid trading on Wall Street amid worries about a global recession. Major benchmarks fell across Asia. Oil prices recouped some lost ground. Analysts said markets were focusing on a variety of risks, including inflation,...

Asian benchmarks mostly lower after tepid Wall St session

Jul. 06, 2022 00:29 AM EDT

TOKYO (AP) — Asian shares were mostly lower Wednesday after tepid trading on Wall Street amid worries about a global recession. Major benchmarks fell across Asia. Oil prices recouped some lost ground after plunging on Monday. Analysts said markets were focusing on a variety of...

Sri Lanka's crisis rings alarm for other troubled economies

Jul. 06, 2022 00:23 AM EDT

BANGKOK (AP) — Sri Lanka is desperate for help with weathering its worst crisis in recent memory. Its schools are closed for lack of fuel to get kids and teachers to classrooms. Its effort to arrange a bailout from the International Monetary Fund has been hindered by the severity of its financial...

Argentina's economic change underlines president's weakening

Jul. 06, 2022 00:09 AM EDT

BUENOS AIRES, Argentina (AP) — The abrupt resignation of Argentina’s economy minister has engulfed the country in an all-too familiar anxiety that flows from its periodic financial crises in recent decades. The departure of moderate Martín Guzmán on Saturday also gave another...

Cricket is a welcome distraction for Sri Lankans in crisis

Jul. 05, 2022 23:27 PM EDT

GALLE, Sri Lanka (AP) — The sport of cricket has become a welcome distraction for Sri Lankans looking for a break from the effects of the economic crisis in the country — long lines to buy fuel and cooking gas and school and work disrupted because there is little access to public transport. ...

West Coast dockworkers still talking after contract expires

Jul. 05, 2022 21:44 PM EDT

LOS ANGELES (AP) — A contract between shipping companies and 22,000 West Coast dockworkers expired over the weekend. But both sides continued to talk and said they want to avoid a strike that could savage an economy already stressed by soaring inflation and supply chain woes. The...

Capitol quiet during 5th day without new Pennsylvania budget

Jul. 05, 2022 18:08 PM EDT

HARRISBURG, Pa. (AP) — Most Pennsylvania lawmakers were absent from the state Capitol on Tuesday, five days into the new budget year without a state government spending agreement in place. Leaders were hoping negotiations would wrap up over the coming days and the House announced...

Biden to Ohio, spotlighting rescued pensions for millions

Jul. 05, 2022 17:20 PM EDT

WASHINGTON (AP) — Seeking to boost his standing with frustrated blue-collar voters, President Joe Biden on Wednesday will use the backdrop of a union training center in Cleveland to tell workers his policies will shore up troubled pension funding for millions now on the job or retired. ...

How major US stock indexes fared Tuesday 7/5/2022

Jul. 05, 2022 16:32 PM EDT

Major stock indexes shook off an early slump and ended with meager gains on Wall Street Tuesday as worries about the economy continue to weigh on markets. Oil prices slumped, bringing the price of U.S. crude back below $100 a barrel for the first time since early May. Tech stocks...

2021 Black Hills national park visitors spent $231 million

Jul. 05, 2022 12:26 PM EDT

RAPID CITY, S.D. (AP) — A new report shows 3.6 million visitors to Black Hills area national parks in South Dakota spent about $231 million in 2021. That had a cumulative benefit to the state economy of $301 million and resulted in about 3,360 jobs. The analysis was done by...