NEW YORK (AP) — Stocks rose broadly on Wall Street Wednesday after minutes from the Federal Reserve’s most recent meeting indicate the central bank intends to move “expeditiously” to raise interest rates back to more neutral levels in its fight to tame inflation.
WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.
WASHINGTON (AP) — The Congressional Budget Office released an economic outlook Wednesday saying that high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt.
DAVOS, Switzerland (AP) — Soaring inflation. Russia’s war in Ukraine. Squeezed supply chains. The threat of food insecurity around the world. The lingering COVID-19 pandemic.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s new Prime Minister Ranil Wickremesinghe has been sworn in as finance minister as this Indian ocean island nation confronts its worst economic crisis in memory.
SACRAMENTO, Calif. (AP) — Ford Motor Company on Tuesday settled claims by 40 U.S. state attorneys general that the company made misleading claims about the fuel economy and payload capacity of some of its vehicles, violating state consumer protection laws.
COLUMBIA, S.C. (AP) — The South Carolina lawmakers negotiating big gap s between the House and Senate versions of the state budget received a big gift Tuesday as the state's economy continued to do better than predicted.
DAVOS, Switzerland (AP) — Billionaire investor turned philanthropist George Soros has blamed new technology for helping repressive regimes like Russia and China exert greater control.
Speaking Tuesday at a dinner for journalists on the sidelines of the World Economic Forum’s annual gathering in Davos, Switzerland, Soros said China and Russia were the greatest threats to open democratic societies today, thanks to the “rapid development of digital technology, especially artificial intelligence.”
TOKYO (AP) — Joe Biden spent his first trip to Asia as president strengthening economic and military commitments. He pushed new rules for the global economy and promoted democracy in launching a new trade pact.
WASHINGTON (AP) — Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges, according to a new poll.
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.
Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working.
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
NEW YORK (AP) — The statistics discussed at the inaugural Global Citizen NOW conference were bleak.
The COVID-19 pandemic has pushed 100 million people back into lives of extreme poverty. Up to 243 million people could face food insecurity between now and November due to the war in Ukraine.
RIO DE JANEIRO (AP) — Brazil’s far-right President Jair Bolsonaro has signed a decree that he says will create a national carbon market to reduce greenhouse gas emissions. Brazil ranks sixth in the world for climate pollution, according to Climate Watch .
DAVOS, Switzerland (AP) — Two high-level speakers at the World Economic Forum gathering say Afghanistan’s most urgent need is saving its economy from complete collapse.
Achim Steiner, administrator of the United Nations Development Program, said Monday in Davos that “we cannot abandon 40 million Afghans simply on the principle of moral outrage.”
FRANKFURT, Germany (AP) — The president of the European Central Bank on Monday gave the clearest sign yet that policymakers will aim to raise interest rates as soon as July to ease surging inflation.
KOENIGSWINTER, Germany (AP) — Treasury Secretary Janet Yellen celebrated a “historic day” last summer when more than 100 nations agreed to a global minimum tax deal, aimed at putting the world's countries on a more equal footing in attracting and keeping multinational companies.
FUSAGASUGA, Colombia (AP) — Flanked by bodyguards with bulletproof shields, Gustavo Petro stood on a stage and lashed out at Colombia's political elite in a speech to the residents of Fusagasuga, a rural town where farmers are struggling.
BRUSSELS (AP) — The European Union has moved to prolong looser limits on spending by member countries for an extra year in a bid to counter the economic fallout from Russia’s war in Ukraine.
The European Commission recommended on Monday suspending the EU’s regular rules on national budget discipline through 2023.
TOKYO (AP) — President Joe Biden launched a new trade deal with 12 Indo-Pacific nations Monday aimed at strengthening their economies as he warned Americans worried about high inflation that it is "going to be a haul” before they feel relief.
Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market on Friday.
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.
SEOUL, South Korea (AP) — North Korea said Saturday it found nearly 220,000 more people with feverish symptoms, even as leader Kim Jong Un claimed progress in slowing a largely undiagnosed spread of COVID-19 across his unvaccinated populace and hinted at easing virus restrictions to nurse a decaying economy.
NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year.
NEW YORK (AP) — The bear came close to Wall Street but then backed off.
The stock market’s slump this year briefly pulled the S&P 500 into what's known as a bear market Friday, before a late rally put the index in the green.
SACRAMENTO, Calif. (AP) — California employers added 41,400 new jobs in April, dropping the state's unemployment rate to the lowest its been since the start of the pandemic following 14 consecutive months of growth.
President Joe Biden’s approval rating dipped to the lowest point of his presidency in May, a new poll shows, with deepening pessimism emerging among members of his own Democratic Party.
LONDON (AP) — U.S. House Speaker Nancy Pelosi is facing criticism from the leader of Northern Ireland’s biggest unionist party after saying Congress won’t approve a trade deal with the U.K. if Britain scraps the agreement governing post-Brexit trade on the Irish island.
CANBERRA, Australia (AP) — Australians will go to the polls on Saturday following a six-week campaign that has focused on pandemic-fueled inflation, climate change and fears of a Chinese military outpost being established less than 2,000 kilometers (1,200 miles) off Australia’s shore.
FRANKFORT, Ky. (AP) — Kentucky posted its lowest-ever unemployment rate in April, offering more proof of the state's unprecedented economic momentum, Gov. Andy Beshear said Thursday.
The state's seasonally adjusted, preliminary jobless rate fell to 3.9% in April, the Democratic governor said.
WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low.
Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday.
SEOUL, South Korea (AP) — North Korea on Thursday reported 262,270 more suspected COVID-19 cases as its pandemic caseload neared 2 million — a week after the country acknowledged the outbreak and scrambled to slow infections in its unvaccinated population.
WELLINGTON, New Zealand (AP) — New Zealand’s government said Thursday it will hand out an extra few hundred dollars to more than 2 million lower-income adults to help them navigate what it describes as “the peak of the global inflation storm.”
TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation.
TOKYO (AP) — Japan recorded a trade deficit in April as its imports ballooned 28% due to soaring energy costs and the yen's weakness against the dollar.
Japan’s trade deficit totaled 839 billion yen ($7 billion) in April, for the ninth straight monthly deficit.
WASHINGTON (AP) — As President Joe Biden embarks for Asia on Thursday, he's facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia's invasion of Ukraine and the pandemic shutting down Chinese cities and factories.
TEHRAN, Iran (AP) — Sweeping U.S. sanctions imposed on Iran have badly impacted the country’s economy and worsened the humanitarian situation in the Persian Gulf nation, a United Nations special envoy said Wednesday.
BARCELONA, Spain (AP) — Qatar committed Wednesday to investing 4.7 billion euros ($4.9 billion) in Spain as the European country launches an economic overhaul with its share of European Union pandemic recovery funding.
TOKYO (AP) — Japan’s economy shrank at a worse than expected annual rate of 1% in the first quarter, as rising prices and COVID-19 restrictions sapped spending and investment, according to data released Wednesday.
WASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans' ability to keep ramping up spending even as inflation persists at nearly a 40-year high.
The increase was driven by greater sales of cars, electronics, and at restaurants, the Commerce Department said Tuesday.