Saudi oil giant Aramco posts third-quarter profits of $27.5 billion, down 15% from a year earlier

DUBAI, United Arab Emirates (AP) — Saudi Arabian oil giant Aramco reported third-quarter profits of $27.5 billion on Tuesday, down about 15% from last year as low oil prices ate into its revenues. Aramco, formally known as the Saudi Arabian Oil Co., had revenues of $111.1 billion...

Federal Reserve is set to cut rates again while facing a hazy post-election outlook

WASHINGTON (AP) — No one knows how Tuesday's presidential election will turn out, but the Federal Reserve's move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest...

US employers added just 12,000 jobs last month as hurricanes and strikes sharply reduce payrolls

WASHINGTON (AP) — America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential...

Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump

NEW YORK (AP) — U.S. stock indexes edged lower Wednesday after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% after drifting between small gains and losses several times, though it’s still near its all-time...

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

WASHINGTON (AP) — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the...

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

Russia's central bank raises interest rate to 21% to fight inflation boosted by military spending

MOSCOW (AP) — Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to stem growing inflation as massive government spending on the military amid the fighting in Ukraine strains the economy’s capacity to produce goods and...

Average rate on a 30-year mortgage in the US rises again to highest level in nearly 3 months

The average rate on a 30-year mortgage in the U.S. rose again this week, reaching its highest level in nearly three months. The rate rose to 6.54% from 6.44% last week, mortgage buyer Freddie Mac said Thursday. Despite the recent uptick, the average rate is down from a year ago,...

IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms

WASHINGTON (AP) — The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday. She also urged Chinese leaders to take more decisive action to jump-start their...

IMF's view: The global fight against high inflation is 'almost won'

WASHINGTON (AP) — The global war against inflation has largely been won — and at surprisingly little cost to economic growth, the International Monetary Fund declared Tuesday. In its latest assessment of the global economy, the IMF predicted that worldwide inflation will cool...