Latest Economy News

Weakness in tech stocks pulls Wall Street back from records

Jul. 27, 2021 17:36 PM EDT

A slide in technology and consumer-oriented companies helped pull stocks lower on Wall Street Tuesday, dragging the major indexes below the record highs they set a day earlier. The S&P 500 fell 0.5%, snapping a five-day winning streak. The selling was most pronounced...

Transportation funding report could launch years of debate

Jul. 27, 2021 17:29 PM EDT

HARRISBURG, Pa. (AP) — A transportation funding commission is preparing to recommend how to raise billions more dollars in Pennsylvania for a 21st-century highway system, a report that will land at a politically touchy time and is expected to kick off a debate that could last years. ...

Study: Only half of American households donate to charity

Jul. 27, 2021 17:05 PM EDT

For the first time in nearly two decades, only half of U.S. households donated to a charity, according to a study released Tuesday. The findings confirm a trend worrying experts: Donations to charitable causes are reaching record highs, but the giving is done by a smaller and smaller slice of...

How major US stock indexes fared Tuesday

Jul. 27, 2021 16:24 PM EDT

Stocks closed lower on Wall Street Tuesday, pulling major indexes back slightly from the records they set a day earlier. Weakness in big technology companies was the biggest factor. Markets have been choppy as investors try to get a clearer picture of how well the...

AP Interview: Tunisia Islamist party counters president

Jul. 27, 2021 15:21 PM EDT

TUNIS, Tunisia (AP) — The leader of Tunisia’s Islamist party and speaker of parliament said Tuesday that his party is working to form a “national front” to counter President Kais Saied’s decision to suspend the legislature, fire top government officials and take control of the...

Robinhood IPO asks customers to play big role as investors

Jul. 27, 2021 14:38 PM EDT

LOS ANGELES (AP) — Robinhood is disrupting another stock market norm — and taking a big risk — by giving ordinary investors access to a huge slice of its initial public offering. The popular online brokerage is taking the unusual step of allowing users of its...

IMF forecasts stronger rebound for Latin American economies

Jul. 27, 2021 14:21 PM EDT

RIO DE JANEIRO (AP) — The International Monetary Fund on Tuesday boosted its forecast for gross domestic product in Latin America and the Caribbean, fueled by stronger outlooks for its two largest economies. The IMF expects the region will grow 5.8% this year, up 1.2...

Oregon governor signs ambitious clean energy bill

Jul. 27, 2021 14:07 PM EDT

PORTLAND, Ore. (AP) — Oregon's clean energy bill, which sets one of the most ambitious timelines in the country for moving to 100% clean electricity sources, was signed by Gov. Kate Brown on Tuesday. The legislation lays out a timetable for the state’s two major...

Timeline remains the same to update unemployment system

Jul. 27, 2021 14:06 PM EDT

Kentucky hopes to stay on course to overhaul its outdated technology for processing jobless claims in two to three years, despite renewing its search for a company to handle the job, the state's new labor secretary told lawmakers on Tuesday. Labor Secretary Jamie Link...

$15 wage becoming a norm as employers struggle to fill jobs

Jul. 27, 2021 13:52 PM EDT

WASHINGTON (AP) — The signs and banners are dotted along suburban commercial strips and hanging in shop windows and restaurants, evidence of a new desperation among America's service-industry employers: “Now Hiring, $15 an hour.” It is hardly the official federal...