Latest Economy News
Russian central bank hikes rates to fight inflation fuelled by military spending
MOSCOW (AP) — Russia's central bank hiked interest rates to their highest since the Kremlin sent troops into Ukraine more than 2 1/2 years ago, a step aimed at combatting the inflation fuelled by massive government outlays for the military — and by robust spending from Russian consumers in...
US consumer sentiment ticks higher for second month but remains subdued
WASHINGTON (AP) — Americans' outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture and the prospect of interest rate cuts by the Federal Reserve. The University of Michigan's consumer...
Stock market today: Wall Street climbs closer to its record high
NEW YORK (AP) — U.S. stocks pulled closer to their records on Thursday following a couple reports on the economy that came in close to expectations. The S&P 500 rose 0.7% and climbed back within 1.3% of its record set in July following a shaky summer. It remains on track for a...
US companies see record-low profits in China amid geopolitical tensions and slow growth, report says
HONG KONG (AP) — American companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy, according to a report published Thursday by a U.S. business group. Out of 306 companies polled, a...
China's August exports grow a robust 8.7%, beating forecasts while imports soften
HONG KONG (AP) — China’s exports grew for a fifth consecutive month, in a sign of growing demand abroad even as imports fell amid a slowing Chinese economy. Exports in August expanded by 8.7% to $308.65 billion compared to the same period last year, according to data released by...
Mario Draghi has solutions for Europe's sluggish economy. Will EU governments listen?
BRUSSELS (AP) — A long-awaited report on how to rescue Europe's economy from weak growth and red tape is in. The question is, how many of its recommendations will actually be enacted by the drawn-out decision-making process of the European Union? The report stands out from other...
Japan's economy is growing, but political uncertainty is among the risks
TOKYO (AP) — Japan’s economy grew at an annual rate of 2.9%, slower than the earlier report for 3.1% growth, in the April-June period, boosted by better wages and spending, revised government data showed Monday. That shows clear risks remain, including U.S. economic growth, which...
Stock market today: Wall Street falls sharply to close its worst week in nearly 18 months
NEW YORK (AP) — Another rout hit Wall Street Friday, with formerly high-flying technology stocks again taking the brunt, after a highly anticipated update on the U.S. job market came in weak enough to add to worries about the economy. The S&P 500 dropped 1.7% to close out its...
Stock market today: Most of Wall Street slips as S&P 500 stays on track for worst week since April
NEW YORK (AP) — Most U.S. stocks fell Thursday following a mixed round of data on the economy, keeping them on track for their worst week since April. The S&P 500 slipped 0.3% for a third straight drop, and the Dow Jones Industrial Average lost 219 points, or 0.5%. The Nasdaq...
US job openings fall as demand for workers weakens
WASHINGTON (AP) — America's employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months. The Labor Department reported Wednesday that there were 7.7 million open jobs in July, down from 7.9 million in June...
