Latest Economic policy News

Capitol quiet during 5th day without new Pennsylvania budget

Jul. 05, 2022 14:38 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...

US stocks, crude oil prices fall as markets extend slump

Jul. 05, 2022 14:22 PM EDT

Stocks fell broadly on Wall Street in afternoon trading Tuesday, extending a slump for the major indexes as investors continue to worry about the state of the economy. The S&P 500 fell 0.9% as of 2:06 p.m. Eastern. Roughly 75% of stocks in the benchmark index fell in the weak...

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...

Australian central bank boosts rate for 3rd month in a row

Jul. 05, 2022 01:59 AM EDT

CANBERRA, Australia (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a third time in three straight months, changing the cash rate to 1.35% from 0.85%. The Reserve Bank of Australia’s half a percentage point rise was the same size as its June...

Asia shares rise on optimism about easing COVID restrictions

Jul. 05, 2022 00:24 AM EDT

TOKYO (AP) — Asian shares advanced Monday across the board as buying set in after the lull of a U.S. national holiday. Analysts said the optimism may be driven by expectations the U.S. may decide to cut Chinese tariffs, a welcome move that would also help tame inflation. ...

World shares mostly higher ahead of July 4 holiday in US

Jul. 04, 2022 05:34 AM EDT

BANGKOK (AP) — World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul. Last week was the fourth losing week in the last five for Wall Street as investors...

This Week: Fed minutes, Levi Strauss earns, jobs report

Jul. 04, 2022 01:04 AM EDT

A look at some of the key business events and economic indicators upcoming this week: CLOSE-UP ON THE FED The Federal Reserve serves up the minutes from its most recent interest rate policy meeting Wednesday. At the meeting last month, the central bank...

Australia prioritizes reducing emissions and cheaper EVs

Jul. 02, 2022 04:06 AM EDT

CANBERRA, Australia (AP) — Australia’s new government is putting climate change at the top of its legislative agenda when Parliament sits next month for the first time since the May 21 election, with bills to enshrine a cut in greenhouse gas emissions and make electric cars cheaper, a minister...

NC budget, immigration bills finalized as session ends

Jul. 01, 2022 23:29 PM EDT

RALEIGH, N.C. (AP) — The North Carolina General Assembly wrapped up its chief work session for the year on Friday by finalizing proposed state budget adjustments for the new fiscal year, crossing off other must-do legislation but leaving some big policy matters unresolved or thwarted. ...

Wall Street closes higher but still ends week in the red

Jul. 01, 2022 17:03 PM EDT

Stocks on Wall Street shook off a downbeat start and ended broadly higher Friday, though the rebound was not enough to erase their losses for the week. The S&P 500 rose 1.1% after having been down 0.9% in the early going. The gain snapped a four-day losing streak for the...