Latest Economy News

Stocks edge higher; S&P 500 heads for another week of gains

Sep. 20, 2019 10:53 AM EDT

NEW YORK (AP) — U.S. stocks edged higher in early trading on Friday as most sectors of the market posted small gains. The S&P 500 rose 0.3% to 3,014 and is within 12 points of all-time high. The index is headed for a fourth straight weekly gain, even after some volatility during the week caused by...

Pennsylvania jobless rate stable as payrolls see new record

Sep. 20, 2019 10:34 AM EDT

HARRISBURG, Pa. (AP) — Pennsylvania's unemployment rate remained stable in August, as payrolls rose to a record high. The state Department of Labor and Industry said Friday that Pennsylvania's unemployment rate remained at 3.9%. That's one-tenth of a percentage point above the lowest rate on record it hit...

Japan accepts talks with South Korea on WTO arbitration

Sep. 20, 2019 10:03 AM EDT

TOKYO (AP) — Japan announced Friday it will accept South Korea's request for joint talks leading to arbitration by the World Trade Organization after Seoul filed a complaint with the international body over Tokyo's tightening of export controls. Trade minister Isshu Sugawara, however, said Japan's controls...

Markets Right Now: Stocks rise modestly, led by tech

Sep. 20, 2019 9:49 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 9:45 a.m. Stocks are modestly higher in early trading on Wall Street Friday, led by health care and technology companies. There was little corporate news moving markets. Many companies are finishing up their third quarters...

German government agrees $60 billion climate policy package

Sep. 20, 2019 9:36 AM EDT

BERLIN (AP) — Under pressure from environmental protests and a surge in support for the opposition Green party, the German government agreed Friday on a 54 billion euro ($60 billion) package of measures for tackling climate change. German Chancellor Angela Merkel said the deal agreed by the country's...

French president says committed to helping Lebanon's economy

Sep. 20, 2019 9:17 AM EDT

PARIS (AP) — France's president says Paris "is fully committed" to implementing the decisions taken during a conference last year to help Lebanon improve its economy. Emmanuel Macron made his comments Friday while receiving Lebanese Prime Minister Saad Hariri, who is on an official visit to Paris seeking...

Turkey: Bloomberg journalists on trial for report on economy

Sep. 20, 2019 9:02 AM EDT

ISTANBUL (AP) — Two reporters for the U.S.-based Bloomberg news agency appeared in court on Friday accused of trying to undermine Turkey's economic stability with a story they wrote on last year's currency crisis. Istanbul-based reporters Kerim Karakaya and Fercan Yalinkilic face up to five years in prison...

Global stocks ending action-packed week solidly

Sep. 20, 2019 8:43 AM EDT

LONDON (AP) — Global stock markets traded in fairly narrow ranges on Friday at the end of a fairly eventful week that saw oil prices spike sharply after attacks on Saudi oil facilities and the Federal Reserve cut interest rates again. Though oil prices are up strongly on the week, there's been an element...

Cambodia gives garment workers 4.4% minimum wage hike

Sep. 20, 2019 8:05 AM EDT

PHNOM PENH, Cambodia (AP) — Cambodia's government announced Friday that it is raising the minimum wage for the garment industry, the country's biggest export earner, whose workers make up a powerful political bloc. The Ministry of Labor and Vocational Training said starting in January, the minimum wage...

Iraq's stability on the line as US, Iran tensions soar

Sep. 20, 2019 5:37 AM EDT

BAGHDAD (AP) — As the United States and Israel escalate their push to contain Iranian influence in the Middle East, countries in Tehran's orbit are feeling the heat. Pro-Iranian militias across Lebanon, Syria and Iraq are being targeted, both with economic sanctions and precision airstrikes hitting their...