Latest Economy News

Capitol quiet during 5th day without new Pennsylvania budget

Jul. 05, 2022 12:33 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...

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...

US stocks, crude oil prices fall as markets extend slump

Jul. 05, 2022 12:12 PM EDT

NEW YORK (AP) — Stocks fell broadly in afternoon trading on Wall Street Tuesday, extending a slump for the major indexes as investors continue to worry about the state of the economy. The S&P 500 fell 1.5% as of 12:01 p.m. Eastern. More than 85% of stocks in the benchmark index...

Bank of England: Crypto crashes show need for tougher rules

Jul. 05, 2022 10:55 AM EDT

LONDON (AP) — The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations The U.K.'s central bank said that the crashes exposed vulnerabilities in the crypto markets...

Fort Sill Apache present plans for New Mexico casino

Jul. 05, 2022 10:05 AM EDT

DEMING, N.M. (AP) — A legal representative of the Fort Sill Apache tribe seemed pleasantly surprised by the prevailing mood at a public scoping meeting for a proposed gaming facility and other developments on a patch of land in Luna County. “I applaud you folks here today,” the...

Spain boosts military spending to close gap with NATO goal

Jul. 05, 2022 09:40 AM EDT

BARCELONA, Spain (AP) — Spain is increasing military spending as it works toward meeting a NATO commitment by dedicating 2% of gross domestic product to defense, the government said Tuesday. Cabinet members approved a one-off expenditure of almost 1 billion euros (around $1.04...

Millennial Money: What if you can’t ‘out-budget’ inflation?

Jul. 05, 2022 09:25 AM EDT

Inflation is a nightmare for the many Americans who already stretch their dollars to cover basic needs. What happens when those dollars lose value? Their choice is probably not about whether to cut streaming services or opt for store-brand groceries. Instead, they may have to pick...

Carrier SAS files for Chapter 11 bankruptcy protection in US

Jul. 05, 2022 08:32 AM EDT

COPENHAGEN, Denmark (AP) — Scandinavian Airlines on Tuesday filed for bankruptcy in the United States, warning a walkout by 1,000 pilots a day earlier had put the future of the carrier at risk. The move adds to the likelihood of travel chaos across Europe as the summer vacation...

Sri Lanka PM says talks with IMF difficult due to bankruptcy

Jul. 05, 2022 03:38 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka’s negotiations with the International Monetary Fund are more complex and difficult than in the past because it is a bankrupt nation, the country’s prime minister said Tuesday. Prime Minister Ranil Wickremesinghe told lawmakers that recent...

Chinese envoy expresses concern over US tariffs with Yellen

Jul. 05, 2022 01:26 AM EDT

BEIJING (AP) — China’s envoy to trade war talks with Washington expressed concern about U.S. tariffs on Chinese imports during a phone call Tuesday with Treasury Secretary Janet Yellen, the Ministry of Commerce announced, but it gave no indication of progress toward resolving an array of...