Latest Economy News

Asia stocks advance, tech giants rally after Fed report

Jul. 29, 2021 03:16 AM EDT

SINGAPORE (AP) — Asian stocks rose Thursday after the Federal Reserve kept its accommodative monetary policies and signaled that the U.S. economic recovery was on track. Chinese technology giants led the way as authorities moved to soothe jitters over stricter...

Robinhood makes its debut on Wall Street

Jul. 29, 2021 00:05 AM EDT

NEW YORK (AP) — Robinhood is sell its own stock Thursday on Wall Street, the very place the online brokerage has rattled with its stated goal of democratizing finance. Through its app, Robinhood has introduced millions to investing and reshaped the brokerage industry,...

Asia stocks advance, tech giants rally after Fed report

Jul. 28, 2021 23:33 PM EDT

SINGAPORE (AP) — Asian stocks mostly rose Thursday after the Federal Reserve kept its accommodative monetary policies and signaled that economic recovery was on track. Chinese technology giants led the way, as authorities moved to soothe jitters over anti-monopoly and...

Euphoric Philippines, rewards greet Olympic gold winner home

Jul. 28, 2021 21:31 PM EDT

MANILA, Philippines (AP) — The rewards, the citations and the nationwide parties are going to have to wait, for a week or so anyway. Philippine weightlifter Hidilyn Diaz, fresh from winning her country’s first Olympic gold medal in nearly a century at the Tokyo Games,...

Facebook profits top $10B as its CEO exalts the 'metaverse'

Jul. 28, 2021 18:49 PM EDT

Concerns about a revenue growth slowdown pushed Facebook's shares lower in after-hours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue. But CEO Mark Zuckerberg set his...

Fed's Powell downplays delta variant's threat to the economy

Jul. 28, 2021 17:46 PM EDT

WASHINGTON (AP) — The spread of the COVID-19 delta variant is raising infections, leading some companies and governments to require vaccinations and raising concerns about the U.S. economic recovery. But on Wednesday, Federal Reserve Chair Jerome Powell injected a note...

Biden woos working class with new 'buy American' efforts

Jul. 28, 2021 17:42 PM EDT

MACUNGIE, Pa. (AP) — President Joe Biden checked out the big rigs at a Pennsylvania truck factory on Wednesday and promised workers that his policies would reshape the U.S economy for the working class — a message clearly aimed at a group of voters who have drifted to Republicans. ...

Tunisia opens corruption probes of leading Islamist party

Jul. 28, 2021 16:28 PM EDT

TUNIS, Tunisia (AP) — Tunisian prosecutors have opened investigations into alleged foreign campaign funding and anonymous donations to Islamist movement Ennahdha and two other political parties, according to local media. Ennahdha is the dominant party in parliament,...

Iran's supreme leader criticizes US as nuclear talks stalled

Jul. 28, 2021 16:21 PM EDT

TEHRAN, Iran (AP) — Iran's supreme leader on Wednesday called the U.S. "stubborn" in stalled nuclear talks in Vienna for discussing Tehran’s missiles and regional influence, likely signaling more trouble ahead for the negotiations. Supreme Leader Ayatollah Ali...

US sanctions hit Syria prisons, abusers including opposition

Jul. 28, 2021 14:53 PM EDT

BEIRUT (AP) — The Biden administration announced Wednesday its first sanctions on Syria, targeting prison facilities and officials who run them, as well as armed groups, focusing on human rights abuses. The sanctions announced by the U.S. Treasury are part of...