Latest Economy News

Iran supreme leader warns ‘thugs’ amid gas price protests

Nov. 17, 2019 6:13 AM EST

DUBAI, United Arab Emirates (AP) — Iran’s supreme leader on Sunday backed the government’s decision to raise gasoline prices and called angry protesters who have been setting fire to public property over the hike “thugs,” signaling a potential crackdown on the demonstrations....

Protests grip major Iran cities over gas prices; 1 killed

Nov. 16, 2019 8:27 PM EST

DUBAI, United Arab Emirates (AP) — Protesters angered by Iran raising government-set gasoline prices by 50% blocked traffic in major cities and occasionally clashed with police Saturday after a night of demonstrations punctuated by gunfire, in violence that reportedly killed at least one person. The...

Lebanese police to boost security near banks amid unrest

Nov. 16, 2019 1:39 PM EST

BEIRUT (AP) — Lebanese security forces will boost measures near the country’s banks that have been closed for more than a week over fears by employees for their safety amid nationwide unrest, police said Saturday. Police said in a statement that there will be more patrols near banks and two...

AP FACT CHECK: Impeachment hearings and that Trump tweet

Nov. 16, 2019 1:04 PM EST

WASHINGTON (AP) — President Donald Trump said he was just exercising his right to free speech. Democrats said he was intimidating a witness. Whichever is the case, Trump’s Twitter assault on an ex-ambassador’s record came with a heavy dose of distortion. He portrayed her, in a few choice...

Scuffles mar anniversary of birth of yellow vest movement

Nov. 16, 2019 10:54 AM EST

PARIS (AP) — Scuffles between Paris police and activists on Saturday marred the anniversary of the birth of the yellow vest movement against government policies seen as favoring the rich. On a day of largely peaceful demonstrations across France, there were a few violent incidents in the capital that ended...

UN adds explosive components ban to Somalia arms embargo

Nov. 15, 2019 6:30 PM EST

UNITED NATIONS (AP) — The U.N. Security Council on Friday extended an arms embargo on Somalia and a ban on trade in charcoal, a key source of funds for al-Shabab extremists — and it imposed a new ban on ingredients for explosive devices the group is increasingly using. The vote on the...

Fed finds resilient financial system despite high debt

Nov. 15, 2019 5:54 PM EST

WASHINGTON (AP) — The Federal Reserve said Friday that corporate debt remains at historically high levels but overall the U.S. financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis. In its twice-yearly “Financial Stability Report,” the...

Perdue defends, celebrates USDA agency moves to Missouri

Nov. 15, 2019 5:52 PM EST

KANSAS CITY, Mo. (AP) — U.S. Secretary of Agriculture Sonny Perdue said Friday that he has “absolutely zero regrets” about moving the headquarters of two research agencies from Washington, D.C., to Kansas City, despite continuing criticism that the move would harm agricultural research and...

Stocks end week of milestones at new highs; Dow tops 28,000

Nov. 15, 2019 5:41 PM EST

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs. Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly...

Report: Hurricane Dorian inflicted $3.4B losses on Bahamas

Nov. 15, 2019 5:14 PM EST

SAN JUAN, Puerto Rico (AP) — Hurricane Dorian inflicted losses of about $3.4 billion on the Bahamas, an amount equal to one-quarter of the Caribbean archipelago’s GDP, according to a report released Friday. The report by the Inter-American Development Bank also said there were 67 confirmed deaths...