Latest Economy News

Biden to lay out in Japan who's joining new Asia trade pact

May. 22, 2022 21:53 PM EDT

TOKYO (AP) — President Joe Biden on Monday is set to launch a new Indo-Pacific trade pact designed to signal U.S. dedication to the region and address the need for stability in commerce after the chaos caused by the pandemic and Russia's invasion of Ukraine. The White House says...

Taiwan not included in launch of new Biden Indo-Pacific pact

May. 22, 2022 12:05 PM EDT

TOKYO (AP) — President Joe Biden on Monday is expected to come out with a list of nations that will join a long-anticipated Indo-Pacific trade pact, but Taiwan won't be among them. White House national security adviser Jake Sullivan confirmed that Taiwan isn't among the governments...

Climate to conflict, Davos' post-COVID return has full plate

May. 22, 2022 10:03 AM EDT

DAVOS, Switzerland (AP) — Davos — the hub of an elite annual gathering in the Swiss Alps — is back, more than two years after the coronavirus pandemic kept its business gurus, political leaders and high-minded activists away. There’s no shortage of urgent issues for the World Economic...

Consumers defy inflation to support economy. For how long?

May. 22, 2022 09:43 AM EDT

WASHINGTON (AP) — With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising...

DAVOS DIARY: Train, not plane means scenery, carbon cutting

May. 22, 2022 08:39 AM EDT

DAVOS, Switzerland (AP) — If you’re coming to Davos this year, try to take the train instead of flying, organizers of the World Economic Forum said. So I did. That meant a 12-hour journey from London to the exclusive gathering in the Swiss Alps, which I'm helping...

Biden pushes economic, security aims as he ends SKorea visit

May. 22, 2022 06:27 AM EDT

SEOUL, South Korea (AP) — President Joe Biden tended to both business and security interests Sunday as he wrapped up a three-day trip to South Korea, first showcasing Hyundai's pledge to invest at least $10 billion in the United States and later mingling with troops at a nearby military base. ...

Startups push into Tampa Bay’s competitive housing market

May. 22, 2022 03:11 AM EDT

TAMPA, Fla. (AP) — For nearly a month, Julie Youngblood has been traveling across Florida to meet with real estate agents. She’s helping the Austin-based company Homeward — which pays cash for homes upfront while homebuyers finalize their own financing — launch in the...

US, SKorea open to expanded military drills to deter North

May. 21, 2022 13:29 PM EDT

SEOUL, South Korea (AP) — U.S. President Joe Biden and South Korean President Yoon Suk Yeol said after meeting Saturday that they will consider expanded joint military exercises to deter the nuclear threat from North Korea at a time when there's little hope of real diplomacy on the matter. ...

On Venezuelan roads, old cars prevail, break down everywhere

May. 21, 2022 09:47 AM EDT

CARACAS, Venezuela (AP) — A 1983 Chevrolet C-10 pickup is the workhorse of Argenis Ron’s party equipment rental business. He uses it to haul chairs, tents and tables to gatherings all across Venezuela's sprawling capital. The once-white paint is slightly yellowish and the body...

Russia cuts off gas exports to Finland in symbolic move

May. 21, 2022 09:26 AM EDT

HELSINKI (AP) — Russia halted gas exports to neighboring Finland on Saturday, a highly symbolic move that came just days after the Nordic country announced it wanted to join NATO and marked a likely end to Finland's nearly 50 years of importing natural gas from Russia. The measure...