BEIJING (AP) — Global stock markets were mixed Friday ahead of U.S. employment data investors hope will show the economy is weakening and persuade the Federal Reserve to ease off plans for more interest rate hikes.
WASHINGTON (AP) — The piping-hot U.S. job market may be cooling off, if only slightly.
But what business managers, policymakers, investors and economists want to know is this: How cool would be cool enough for the inflation fighters at the Federal Reserve to begin to ease their aggressive interest rate hikes?
WASHINGTON (AP) — President Joe Biden on Thursday effectively acknowledged the failure of one of his biggest and most humiliating foreign policy gambles: a fist-bump with the de facto leader of Saudi Arabia, the crown prince associated with human rights abuses.
PRAGUE (AP) — Leaders across Europe hailed on Thursday their united front against Russia’s war on Ukraine at a summit that also saw the heads of old foes Turkey and Armenia meet face-to-face for the first time since they agreed last year to put decades of bitterness behind them.
WASHINGTON (AP) — More interest rate increases will be necessary to wrestle inflation under control, Federal Reserve Governor Lisa Cook said Thursday, echoing several tough speeches by other central bank officials this week.
FRANKFURT, Germany (AP) — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy.
LONDON (AP) — Britain’s biggest nurses’ union asked its 300,000 members Thursday whether they want to go on strike in a dispute over pay, and the U.K.’s electricity system operator warned of potential winter blackouts, in the latest evidence of the U.K.’s worsening energy and cost-of-living squeeze.
WASHINGTON (AP) — More Americans filed for unemployment benefits last week, the largest number in four months, but the labor market remains strong in the face of persistent inflation and a slowing overall U.S.
Wall Street expects the latest round of quarterly profits to show burn marks from the hottest inflation in four decades, and the damage could linger into 2023.
Analysts have been trimming their forecasts, especially in the retail and communications sectors, as inflation drives up costs and saps consumer spending on everything from food to clothing.
BEIJING (AP) — Asian stocks were mixed Thursday after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC group of oil exporters agreed to output cuts to shore up prices.
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S.
TOKYO (AP) — Hong Kong’s share benchmark soared more than 5% on Wednesday as Asian shares tracked gains on Wall Street.
New Zealand’s share benchmark rose 0.7% after its central bank hiked its benchmark interest rate to 3.5%, saying inflation remained too high and labor scarce.
WASHINGTON (AP) — The nation's gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday that logs America's daily finances.
PORT-AU-PRINCE, Haiti (AP) — Daily life in Haiti began to spin out of control last month just hours after Prime Minister Ariel Henry said fuel subsidies would be eliminated, causing prices to double.
WASHINGTON (AP) — The number of available jobs in the U.S. plummeted in August compared with July as businesses grow less desperate for workers, a trend that could cool chronically high inflation.
CELIKHAN, Turkey (AP) — Mehmet Emin Calkan begins work harvesting a tobacco field in rural Turkey before dawn, then has another shift skewering and stringing the tobacco to dry under the sun.
The 19-year-old, who hopes to study electronic engineering, has undertaken the strenuous work to help support his family and pay for books he needs to prepare for the university entrance exam.
America is back? It’s more like a return to ‘America first’, as Biden takes a leaf from Trump’s protectionist playbook
US President Joe Biden's primary appeal during the 2020 election cycle was not being Donald Trump.
LONDON (AP) — Trains in Britain all but ground to a halt Saturday as coordinated strikes by rail workers added to a week of turmoil caused by soaring energy prices and unfunded tax cuts that roiled financial markets.
SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem indicated Friday during her reelection campaign's lone debate with her Democratic challenger, state lawmaker Jamie Smith, that if reelected she will uphold the state's abortion ban that provides no exceptions for rape or incest.
Wall Street closed out a miserable September on Friday with the S&P 500's worst monthly skid since March 2020, when the coronavirus pandemic crashed global markets.
The benchmark index ended the month with a 9.3% loss and posted its third straight losing quarter.
Stocks end September down 9.3%, worst month since March 2020
NEW YORK (AP) — Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020.
WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials.
WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.
FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power.
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation.
LONDON (AP) — Like many small business owners in Britain, Harry Niazi hoped for government help to keep his south London fish and chip shop going in the face of rocketing energy bills and soaring inflation.
BEIJING (AP) — Asian stocks sank again Friday after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened.
LONDON (AP) — British Prime Minister Liz Truss on Thursday defended her divisive economic plan and shrugged off the turmoil it has stirred in financial markets, saying she’s willing to make “controversial and difficult decisions” to get the U.K.
WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession.
WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy.
MADRID (AP) — Spain’s Socialist-led coalition government said Thursday that residents whose wealth exceeds 3 million euros ($2.9 million) will be subject to a new asset tax in 2023 and 2024.
Finance Minister María Jesús Montero described the temporary wealth tax, which she said will affect 23,000 people, or 0.1 % of taxpayers, as one of “solidarity.”
SOFIA, Bulgaria (AP) — Bulgarians will go to the polls for the fourth time in less than two years in a general election overshadowed this time by the war in Ukraine, rising energy costs and galloping inflation.
BEIJING (AP) — Asian stock markets followed Wall Street higher Thursday after Britain's central bank moved forcefully to stop a budding financial crisis.
TOKYO (AP) — Asian shares tumbled Wednesday after a wobbly day ended with mixed results on Wall Street as markets churn over the prospect of a possible recession.
Tokyo's Nikkei 225 index sank 2.2% to 25,984.51 while the Kospi in Seoul lost 2.8% to 2,161.86.
For months, Catholic Charities of Southeast Texas has had to waitlist families hoping to join a food pantry program, as the nonprofit and other charities have struggled to meet soaring demand amid rising food prices and the end of federal pandemic relief aid.
LONDON (AP) — The British pound stabilized Tuesday as U.K. authorities tried to ease investor concerns after the biggest tax cuts in 50 years sent the currency tumbling to a record low and prompted some businesses to predict a devastating combination of a weak currency and rising interest rates.
WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S.
LONDON (AP) — The pound is taking a pounding.
The British currency has taken a plunge, sliding against the U.S.
PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook.
FRANKFURT, Germany (AP) — Europe's largest economy is sending recession signals.
And now it begins: the great unravelling of monetary excess and faux prosperity that has characterised the past decade. Where it will end is still uncertain but the bursting of the monetary bubble must ultimately prove salutary for the global economy, and for the planet itself.
DUBAI, United Arab Emirates (AP) — Stores are selling winter clothes from last season in the middle of summer. Repair shops lack spare parts for appliances. There's a waiting list to buy a new car.
Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes.
The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020.
LONDON (AP) — The United Kingdom's new government outlined plans Friday to cut taxes and boost spending in an effort to bolster the faltering economy, but the high-risk moves sparked concerns that increased public borrowing will worsen a cost-of-living crisis and sent the British pound on its biggest one-day drop in 2 1/2 years.
BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.
Powell’s stark message: Inflation fight may cause recession
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
Stocks closed lower on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation.
The S&P 500 fell 0.8% Thursday. The Dow Jones Industrial Average fell about half as much, and the Nasdaq composite lost 1.4%.
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
LILBURN, Ga. (AP) — Like schools nationwide, those in Georgia face some big decisions in coming years.
But polls show K-12 education trailing among voter concerns this year, and candidates are spending more time talking about inflation, the economy, abortion and guns.