Wall Street added to its recent gains Friday as stocks closed higher, driving the S&P 500 to its best week since July.
The S&P 500 rose 0.7% for its third straight gain and ended the week 1.8% higher.
BERLIN (AP) — Three German parties announced Friday that they aim to open formal coalition talks, moving a big step closer to a new government that would send outgoing Chancellor Angela Merkel's center-right bloc into opposition.
WASHINGTON (AP) — The Biden administration is taking steps to address the economic risks from climate change, issuing a 40-page report Friday on government-wide plans to protect the financial, insurance and housing markets and the savings of American families.
Coronavirus outbreaks, poor vaccine access, weak policy pushes IMF to downgrade global economic outlook
"Faultlines" in global economies caused by the coronavirus pandemic have persisted and recoveries have been "hobbled" by Delta variant outbreaks, the International Monetary Fund (IMF) said as it cut its worldwide growth forecast for the year.
In January 2020, just before the coronavirus pandemic disrupted lives worldwide and significantly affected global economic growth, the US, under president Donald Trump, signed a "phase one" trade agreement with China.
WASHINGTON (AP) — The International Monetary Fund is warning of rising threats to the global economic recovery posed by the ongoing coronavirus pandemic and an outbreak of inflation.
UNITED NATIONS (AP) — Yemen’s economy is collapsing, its humanitarian crisis is worsening, and the conflict in the Arab world’s poorest nation is growing more violent, the U.N.’s deputy humanitarian chief said Thursday.
NEW YORK (AP) — It's good to be a bank right now.
Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won't likely recoup.
SANTIAGO, Chile (AP) — The 37-year-old Haitian says not a day goes by in which he doesn’t think of leaving Chile, like the multitudes who have grown frustrated and headed north toward the United States.
NEW YORK (AP) — Crunch time is coming to Wall Street.
Throughout this gilded year for investors, growth has kept accelerating for all kinds of forces that boost stock prices, sending the S&P 500 to more than 40 records.
TOKYO (AP) — Japan’s new Prime Minister Fumio Kishida dissolved the lower house of parliament Thursday, paving the way for elections that will be the country's first of the pandemic.
BERLIN (AP) — Germany's leading economic institutes on Thursday slashed their forecast for Europe's biggest economy, saying output is being held back by global supply bottlenecks and lingering restraints on personal contact amid the pandemic.
Biden tries to tame inflation by having LA port open 24/7
WASHINGTON (AP) — President Joe Biden has announced a deal to expand operations at the Port of Los Angeles in hopes of ending the logjam of ships waiting to unload.
WASHINGTON (AP) — Federal Reserve officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022.
WASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022.
NEW YORK (AP) — JPMorgan Chase posted a 24% jump in third-quarter profits on Wednesday, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels.
LONDON (AP) — Britain's economic recovery lost momentum during the summer despite the widespread lifting of coronavirus restrictions as supply chain issues took their toll, official figures showed Wednesday.
WASHINGTON (AP) — The House has approved a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy.
WASHINGTON (AP) — One reason America's employers are having trouble filling jobs was starkly illustrated in a report Tuesday: Americans are quitting in droves.
The Labor Department said that quits jumped to 4.3 million in August, the highest on records dating back to December 2000, and up from 4 million in July.
WASHINGTON (AP) — The International Monetary Fund is slightly downgrading its outlook for the global recovery from the pandemic recession, reflecting the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor nations.
LONDON (AP) — Job vacancies in the U.K. rose to a record high of nearly 1.2 million, official figures showed Tuesday, a further sign that the British economy is experiencing worker shortages in an array of sectors as a result of the coronavirus pandemic and Britain’s departure from the European Union.
FRANKFURT, Germany (AP) — More than 130 countries have agreed on sweeping changes to how big global companies are taxed, including a 15% minimum corporate rate designed to deter multinationals from stashing profits in low-tax countries.
UNITED NATIONS (AP) — Warning that Afghanistan is facing “a make-or-break moment,” the United Nations chief on Monday urged the world to prevent the country’s economy from collapsing.
Secretary-General Antonio Guterres also appealed to the Taliban to stop breaking its promises to allow women to work and girls to have access to all levels of education.
Back in April, Yale University's Stephen Roach questioned US President Joe Biden's China policy " in particular his trade policy: "Why has he singled out the China-Trump policy as one that is worth sustaining, when he has literally tried to wipe the slate clean of every other potential Trump policy that he inherited?
WASHINGTON (AP) — September wasn't exactly the robust month for hiring that many had expected and hoped for.
With the delta variant still disrupting the economy and employers struggling to find enough workers, the gain for the month amounted to 194,000 jobs — not even half of what economists had expected.
China-US shipping rates begin to cool as power crisis forces production cuts, but freight costs still elevated
The cost of shipping between China and the United States has fallen after months of steep increases, as orders for year-end holidays slow and a power crunch in the world's second biggest economy disrupts production of goods, new data shows.
Back in 2012, Foreign Policy published an article headlined "A Tale of Two Asias" by two US analysts. It describes two contrasting Jekyll and Hyde sides of the continent.
On the one hand, there is "Economic Asia": a vibrant, integrated region with an economy now worth over US$30 trillion that is the most dynamic on Earth and an engine of global growth.
Delta variant and worker shortage keep a lid on job growth
WASHINGTON (AP) — U.S. employers added just 194,000 jobs in September, a second straight tepid gain and evidence that the pandemic has kept its grip on the economy, with many companies struggling to fill millions of open jobs.
WASHINGTON (AP) — President Joe Biden promised an economy that could be firing on all cylinders next year, but Friday's disappointing jobs report suggests a slowdown in growth could instead loom atop voters' minds in the 2022 elections.
TOKYO (AP) — In his first policy speech, new Japanese Prime Minister Fumio Kishida promised Friday to strengthen the country's response to the coronavirus pandemic in case of another resurgence and revive its battered economy while bolstering defenses against threats from China and North Korea.
NEW DELHI (AP) — An energy crisis is looming over India as coal supplies grow perilously low, adding to challenges for a recovery in Asia’s third largest economy after it was wracked by the pandemic.
WASHINGTON (AP) — The Senate dodged a U.S. debt disaster Thursday night, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default that experts warned would devastate the economy and harm millions of Americans.
WASHINGTON (AP) — President Joe Biden is wielding his weapon of last resort in the nation's fight against COVID-19, as he champions vaccination requirements across the country in an effort to force the roughly 67 million unvaccinated American adults to roll up their sleeves.
WASHINGTON (AP) — Average long-term mortgage rates declined this week, with the benchmark 30-year loan slipping back below 3%.
Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage eased to 2.99% from 3.01% last week.
Companies will soon start reporting their latest quarterly financial results and investors have been warned that inflation is going to sting.
Retailers, auto makers and a wide range of manufacturers have all warned investors that a supply chain crunch and higher raw materials costs are adding to expenses and hurting profits.
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week, another sign that the U.S. job market and economy continue their steady recovery from last year's coronavirus recession.
MANCHESTER, England (AP) — Empty gas pumps, worker shortages, gaps on store shelves. It's an autumn of inconvenience in Britain, if not quite a winter of discontent.
BERLIN (AP) — Factory orders in Germany plummeted 7.7% in August compared with the previous month, led by much lower demand from countries outside the eurozone, official figures showed Wednesday.
The drop in orders, a leading indicator for Europe's biggest economy, followed month-on-month gains of 4.6% in June and 4.9% in July.
While mid-autumn should still bring plenty of warm sunlight, winter appears to have descended early on the Chinese economy.
L’Oréal at Expo 2020 Dubai: Major sustainability focus culminates at today’s World Green Economy Summit
WINCHESTER, Ky. (AP) — Officials have begun a yearlong effort to survey visitors at the Daniel Boone National Forest.
A team from the University of Tennessee began conducting the National Visitor Use Monitoring survey on Saturday and will continue through Sept.
Hong Kong property deals set to plunge in October amid fears Beijing is tightening its grip on the housing market
The number of property deals taking place in Hong Kong is set to slide for a third month in October as buyers await clarity on housing policy amid rumours that Beijing is muscling in to control the local market.
The widely spreading energy crisis in China is likely to extend to winter, and it has already affected many people's daily lives and hobbled the manufacturing sector.
Li Dong is busy these days decorating his new barbecue restaurant in a northern Pearl River Delta community that is rumbling back to life two years after Samsung closed its smartphone factory that had operated there for almost three decades.
WELLINGTON, New Zealand (AP) — New Zealand’s central bank raised interest rates for the first time in more than seven years on Wednesday, removing some of the support it put in place when the coronavirus pandemic began.
BOSTON (AP) — What the “new normal” of a post-pandemic economy in Massachusetts might look like is the subject of a report released Tuesday by Massachusetts Senate leaders, who argued that just returning to the pre-2020 way of doing things isn’t good enough.
KABUL, Afghanistan (AP) — Afghanistan's Taliban leaders met Tuesday with U.K. officials for the first time since taking power, a move the group hopes will pave the way for the country to refill cash-starved coffers as it teeters on the brink of economic collapse.
WASHINGTON (AP) — The head of the International Monetary Fund says the agency is trimming its forecast for global growth this year.
IMF Managing Director Kristalina Georgieva on Tuesday cited rising risks from inflation, debt and a divergence in growth prospects between nations with access to coronavirus vaccines and those in need of shots.