LOS ANGELES (AP) — California's governor on Friday proposed a temporary tax cut for the state's struggling legal marijuana industry, but businesses said it falls far short of what’s needed to revive a foundering pot economy.
NEW YORK (AP) — Wall Street closed out another volatile week of trading with a broad rally Friday, though it wasn't nearly enough to keep the market from its sixth straight weekly drop, the longest such streak since 2011.
NEW DELHI (AP) — With one brother president, another prime minister and three more family members cabinet ministers, it appeared that the Rajapaksa clan had consolidated its grip on power in Sri Lanka after decades in and out of government.
Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier.
The regional rally followed a mixed and muted close on Wall Street.
WASHINGTON (AP) — The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.
WASHINGTON (AP) — The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades.
BEIJING (AP) — China’s leaders are struggling to reverse an economic slump without giving up anti-virus tactics that shut down Shanghai and other cities, adding to challenges for President Xi Jinping as he tries to extend his time in power.
SACRAMENTO, Calif. (AP) — New homes built in California starting in 2026 need to be powered by all-electric furnaces, stoves and other appliances if California is to meet its ambitious climate change goals over the next two decades, according to a state pollution-reduction plan released Tuesday.
WASHINGTON (AP) — President Joe Biden on Tuesday warned voters unhappy with soaring inflation and his stalled domestic agenda against turning power over to “ultra-MAGA” Republicans in the midterm elections as he increasingly tries to cast former President Donald Trump and his adherents as a political foil.
WASHINGTON (AP) — Treasury Secretary Janet Yellen's appearance before a Senate committee took an unexpected and tense detour into the abortion debate Tuesday when senators questioned her about the potential impact of an abortion ban on the American economy.
LONDON (AP) — Britain’s Conservative government set out its agenda for the next year on Tuesday with sweeping promises to cut crime, improve health care and revive the U.K.’s pandemic-scarred economy — but no new help for millions of Britons struggling to pay their bills as the cost of living soars.
SEOUL, South Korea (AP) — Yoon Suk Yeol, a conservative political neophyte, took office Tuesday as South Korea’s new president with a vow to pursue a negotiated settlement of North Korea’s threatening nuclear program and an offer of “an audacious plan” to improve its economy if it abandons its nuclear weapons.
BEIJING (AP) — Asian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate hikes to fight inflation might stall economic growth.
Market benchmarks in Tokyo, Hong Kong, Seoul and Sydney fell.
NEW YORK (AP) — The Federal Reserve said Monday that Russia's war in Ukraine and surging inflation are now the greatest threats facing the global financial system, supplanting the coronavirus pandemic.
WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year.
BEIRUT (AP) — The World Bank approved a $150 million soft loan for food security in crisis-hit Lebanon to stabilize bread prices during the coming months, the economy minister said Monday.
Amin Salam told reporters that the loan has a very low interest rate but the minister did not make the rate public.
BEIJING (AP) — China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks.
LONDON (AP) — Leaders from the Group of Seven developed democracies pledged Sunday to phasing out or banning the import of Russian oil, as they met with Ukraine's president, Volodymyr Zelenskyy, for online talks to stress their support and to display unity among Western allies on Victory in Europe Day, which marks Nazi Germany’s surrender in 1945.
COLOMBO, Sri Lanka (AP) — Diplomats and rights groups expressed concern Saturday after Sri Lankan President Gotabaya Rajapaksa declared a state of emergency and police used force against peaceful protests demanding his ouster over the nation’s worst economic crisis.
HAMILTON, Ohio (AP) — President Joe Biden pledged Friday that 3D printing technology would help return factory jobs to the U.S.
WASHINGTON (AP) — Friday's jobs report for April provided mixed signals on the economic issue most on the minds of Americans: Chronically high inflation.
WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs.
BEIJING (AP) — Asian stocks followed Wall Street lower Friday as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth.
WASHINGTON (AP) — More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years.
LONDON (AP) — The Bank of England raised its key interest rate to the highest level in 13 years on Thursday as policymakers around the world combat inflation fueled by high energy prices, Russia's war in Ukraine and lingering concerns about COVID-19.
ANKARA, Turkey (AP) — Inflation in Turkey soared to nearly 70% in April, official data showed Thursday, as skyrocketing prices eat away at earnings and put even basic necessities out of reach for many households.
NEW DELHI (AP) — India’s central bank on Wednesday raised its key interest rate to 4.4% from 4% to try to contain fast-rising inflation.
Reserve Bank of India Governor Shaktikanta Das said after an unscheduled meeting of the bank's monetary policy committee that the central bank would maintain an “accommodative" stance to help support the economy while keeping inflation in check.
WASHINGTON (AP) — The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s economy is in dire straits with its usable foreign reserves down to less than $50 million, the country’s finance minister said Wednesday.
Ali Sabry was speaking to Parliament after returning to Sri Lanka from talks with the International Monetary Fund.
ATLANTIC CITY, N.J. (AP) — As Atlantic City’s casinos work to recover financially from the coronavirus pandemic, the workers who keep those casinos operating are trying to do the same.
Shares were mostly lower in Asia on Wednesday, with markets in China, Japan and some other markets still closed for holidays.
Hong Kong and Seoul fell more than 1% and oil prices were higher.
WASHINGTON (AP) — Employers posted a record 11.5 million job openings in March, meaning the United States now has an unprecedented two job openings for every person who is unemployed.
The latest data released Tuesday by the the Bureau of Labor Statistics further reveals an extraordinarily tight labor market that has emboldened millions of Americans to seek better paying jobs, while also contributing to the biggest inflation surge in four decades.
HONG KONG (AP) — Hong Kong’s economy shrank by 4% compared with a year earlier in the quarter ending in March after the Chinese territory shut restaurants and other businesses to fight a spike in coronavirus infections.
Asian shares are mixed in light “Golden Week” trading with markets in China, Japan and some other countries closed for holidays.
Investors are watching to see what the U.S.
WASHINGTON (AP) — The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans' financial strains and likely weaken the economy.
BERLIN (AP) — Germany says it’s making progress on weaning itself off Russian fossil fuels and expects to be fully independent of Russian crude oil imports by late summer.
Economy and Climate Minister Robert Habeck said Sunday that Europe’s largest economy has reduced the share of Russian energy imports to 12% for oil, 8% for coal and 35% for natural gas.
AUGUSTA, Maine (AP) — Former Republican Gov. Paul LePage, seeking to return for a third term, attacked the administration of Democratic Gov. Janet Mills during a speech Saturday at the Maine Republican Party's convention at the Augusta Civic Center.