Latest Economy News

Colombians fill streets hoping to channel wave of discontent

Nov. 21, 2019 7:46 PM EST

BOGOTA, Colombia (AP) — Colombians angry with conservative President Iván Duque and hoping to channel Latin America’s wave of discontent took the streets by the tens of thousands Thursday in one of the biggest protests in the nation’s recent history. Students, teachers and labor union...

Gap’s interim CEO promises to address ‘operational issues’

Nov. 21, 2019 6:02 PM EST

NEW YORK (AP) — Two weeks after Gap Inc. ousted its CEO Art Peck, the company’s interim leader promised investors it would address “operational issues” that have been dragging down the retailer. The comments from Robert J. Fisher came as the San Francisco-based clothing chain released...

How GM ended up suing its crosstown rival

Nov. 21, 2019 5:47 PM EST

DETROIT (AP) — Automakers sue each other on occasion, but no one in Detroit can remember one accusing another of bribing union officials to get an unfair labor cost advantage. Yet that’s what happened Wednesday when General Motors filed a federal racketeering lawsuit against Fiat Chrysler...

How major US stock indexes fared Thursday

Nov. 21, 2019 4:55 PM EST

Stocks closed slightly lower on Wall Street Thursday, giving the market its third straight drop. Technology stocks and companies that rely on consumer spending led the way lower. Those losses offset gains in the energy, communication services and health care sectors. On Thursday: The S&P 500 index dropped...

Stocks close with modest losses amid US-China trade anxiety

Nov. 21, 2019 4:47 PM EST

Stocks closed modestly lower on Wall Street Thursday after a mostly listless day of trading handed the market its third straight drop. Losses in technology stocks, companies that rely on consumer spending and other sectors outweighed gains elsewhere in the market. Energy sector stocks were the biggest winners,...

Markets Right Now: Stocks slip as trade worries persist

Nov. 21, 2019 4:06 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing slightly lower on Wall Street, giving the market its third straight drop. Technology stocks and companies that rely on consumer spending led the way lower Thursday. Those losses offset gains in the...

Records pile up for S&P 500, Nasdaq in milestone run

Nov. 21, 2019 4:02 PM EST

LOS ANGELES (AP) — Wall Street is enjoying its third record-setting run of this year, with the major stock indexes delivering a string of all-time highs in recent weeks. The S&P 500 has set new highs 23 times this year through Monday, up from 19 last year. The benchmark index, which closed above 3,100...

US mortgage rates fell this week, boosting housing market

Nov. 21, 2019 3:19 PM EST

WASHINGTON (AP) — U.S. mortgage rates turned down this week, lowering the cost of purchasing a home and supporting the housing market. Mortgage giant Freddie Mac said Thursday that the average rate for a 30-year fixed mortgage fell to 3.66% this week from 3.75% last week. The average 15-year rate declined...

US home sales rose 1.9% last month, lifted by lower rates

Nov. 21, 2019 12:25 PM EST

WASHINGTON (AP) — Americans took advantage of lower mortgage rates and purchased more homes in October, though sales were held back by a shortage of available properties. The National Association of Realtors said Thursday that sales of existing homes rose 1.9% last month to a seasonally adjusted annual...

AP names Byrne news director for southern South America

Nov. 21, 2019 9:41 AM EST

MEXICO CITY (AP) — Paul Byrne, a seasoned video journalist who has led all-format reporting on clergy sex abuse and economic tumult in Argentina, the unrest in Chile and Bolivia and other major stories, has been named by The Associated Press as its news director for South America’s Southern Cone...