WASHINGTON (AP) — Democrats drove their election-year economic package toward Senate approval early Sunday, debating a measure with less ambition than President Joe Biden’s original domestic vision but that touches deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing immense corporations.
WASHINGTON (AP) — Democrats pushed their election-year economic bill toward Senate approval early Sunday, starting the sprawling collection of President Joe Biden’s priorities on climate, energy, health and taxes on a pathway that the party hopes will end in final congressional passage by the end of this week.
OMAHA, Neb. (AP) — Warren Buffett’s company reported a $43.76 billion loss in the second quarter as the paper value of its investments plummeted, but Berkshire Hathaway’s many operating companies generally performed well suggesting the overall economy is weathering the pressure from inflation and rising interest rates.
BEIRUT (AP) — A ship bringing corn to Lebanon’s northern port of Tripoli normally would not cause a stir. But it's getting attention because of where it came from: Ukraine’s Black Sea port of Odesa.
WASHINGTON (AP) — Democrats pared part of their proposed minimum tax on huge corporations and made other changes in their giant economic bill, Senate Majority Leader Chuck Schumer said Friday, as they drove toward delivering a campaign-season victory to President Joe Biden on his domestic agenda.
WASHINGTON (AP) — It's nowhere near the $4 trillion proposal President Joe Biden first launched to rebuild America's public infrastructure and family support systems but the compromise package of inflation-fighting health care, climate change and deficit reduction strategies appears on track toward Senate votes this weekend.
NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street.
The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as investors reacted to the report, which showed that U.S.
WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected.
NEW YORK (AP) — July's jobs report was a stunner, in more ways than one. Despite raging inflation and anxiety about a possible recession, employers created 528,000 jobs last month, more than double market expectations.
New York (AP) — Chelsie Church was working as a manager at a Colorado Taco Bell when she found out workers at a nearby Pizza Hut were earning more than $1 an hour more than she was.
Her attempts to negotiate a raise were unsuccessful, so she kept hunting for another job, eventually finding one at Laredo’s Tacos, a chain connected to 7-Eleven.
WASHINGTON (AP) — Senate Democrats have agreed to eleventh-hour changes to their marquee economic legislation, they announced late Thursday, clearing the major impediment to pushing one of President Joe Biden’s paramount election-year priorities through the chamber in coming days.
BANGKOK (AP) — Economies in the Asia-Pacific are forecast to hit the doldrums this year as decades-high inflation and the war in Ukraine compound geopolitical uncertainties and the aftereffects of the pandemic.
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation.
Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in this financial year.
WASHINGTON (AP) — Democrats call it the “Inflation Reduction Act.” Republicans say it's a “tax and spending spree.” And everyone has a study they say proves it.
SPRINGFIELD, Ill. (AP) — Inflation means stocking up on pencils, notebooks, crayons and clothes for your kids’ return to school is more expensive this year, so Illinois state leaders on Thursday offered a 10-day sales tax reduction on classroom needs.
LONDON (AP) — The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the war in Ukraine would fuel further inflation and tip the U.K.
NEW YORK (AP) — The employment market appears to have lost some of its sizzle, a development that could influence Federal Reserve policy and further raise concerns about an economic recession among investors.
WASHINGTON (AP) — The average long-term U.S. mortgage rate fell below 5% for the first time in four months, days after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control.
Billions of dollars in climate and environment investments could flow to communities in the United States that have been plagued by pollution and climate threats for decades, if the proposed Inflation Reduction Act becomes law.
TOKYO (AP) — Asian shares mostly rose Thursday as investors welcomed encouraging economic data and quarterly earnings reports from big companies.
Benchmarks rose across the region, including Japan, China, Australia and South Korea.
BUENOS AIRES, Argentina (AP) — Argentina’s third economy minister in a month was sworn in Wednesday, and as his first order of business Sergio Massa sought to bring down sky-high expectations for his tackling of the country's economic troubles.
WASHINGTON (AP) — Republicans see inflation, taxes and immigration as Democratic weak spots worth attacking, and two opposition senators as prime targets, in the upcoming battle over an economic package the Democrats want to push through the Senate.
INDIANAPOLIS (AP) — Indiana Republican lawmakers remained far from agreement Wednesday on whether to go along with the governor’s proposal to give each taxpayer a $225 rebate from the state’s surging budget surplus.
SAULIEU, France (AP) — French lawmakers on Wednesday approved a 20 billion-euro ($20.3-billion) package of measures to help struggling households cope with rising energy and food prices.
The 395-to-112 vote came after a heated debate at the National Assembly, where French President Emmanuel Macron no longer has a majority.
It’s that time again: back to school, back to spending so much money on supplies. And this year, families will have to shell out even more than usual because of inflation.
Thankfully, you can still save money on supplies and other gear by leaning on local parents, neighbors and community members.
NEW YORK (AP) — To understand the impact of surging inflation on this year's back-to-school spending, look no further than children's rain boots with motifs like frogs and ladybugs made by Washington Shoe Co.
ISTANBUL (AP) — Annual inflation in Turkey soared to nearly 80% in July, official data showed Wednesday, with skyrocketing food, housing and energy prices hitting consumers hard.
LONDON (AP) — BP said its earnings from April to June almost tripled from a year earlier, increasing pressure on governments to intervene as energy companies profit from high oil and natural gas prices that are fueling inflation and squeezing consumers.
WASHINGTON (AP) — American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates.
Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday.
CANBERRA, Australia (AP) — Australia’s central bank on Tuesday boosted its benchmark interest rate for a fourth consecutive month to a six-year high of 1.85%.
The Reserve Bank of Australia’s decision was the cash rate’s third consecutive hike of half a percentage point.
WASHINGTON (AP) — The Treasury Department is seeking to borrow $444 billion in the current quarter through September as the Federal Reserve tightens its portfolio.
Figures released Monday by the department show that to be a $262 billion increase compared to estimates announced in May, a sign that the federal government will need to be more reliant on debt.
WASHINGTON (AP) — Five weeks ago, senior Biden administration aides gathered for their regular Thursday morning meeting about passing a bill to revive the U.S. computer chip sector, worried that it could be in peril.
WASHINGTON (AP) — It’s been more than a year in the making and has seen plenty of ups and downs. Now, a Democratic economic package focused on climate and health care faces hurdles but seems headed toward party-line passage by Congress next month.
JOHANNESBURG (AP) — South Africa President Cyril Ramaphosa says the fight against corruption and work to improve the country’s faltering economy have been endorsed by the ruling African National Congress party in order to improve its declining electoral support.
Stocks racked up more gains Friday as Wall Street closed out its best month since November 2020, a welcome breather for investors after a punishing year for the market.
The S&P 500 index, a benchmark for many stock funds, rose 1.4% and finished 9.1% higher for July.
WASHINGTON (AP) — Inflation surged in June and workers' average wages accelerated in the spring — signs that Americans won't likely feel any relief from rising prices anytime soon and that the Federal Reserve will feel compelled to further raise borrowing costs.
NEW YORK (AP) — Oil companies swam in record profits over the last few months at a time when Americans struggled to pay for gasoline, food and other basic necessities.
LONDON (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia's war in Ukraine, but the economy managed better-than-expected, if meager, growth in the second quarter.
LONDON (AP) — Britain’s next prime minister will take office amid turmoil: galloping inflation, a war in Ukraine, souring relations with China, a changing climate.
TOKYO (AP) — Asian shares were mostly higher on Friday following a broad rally on Wall Street, but Hong Kong’s benchmark sank more than 2%.
WASHINGTON (AP) — An unexpected deal reached by Senate Democrats would be the most ambitious action ever taken by the United States to address global warming and could help President Joe Biden come close to meeting his pledge to cut greenhouse gas emissions in half by 2030, experts said Thursday, as they sifted through a massive bill that revives action on climate change weeks after the legislation appeared dead.
BUENOS AIRES, Argentina (AP) — Argentina's government announced the appointment of an economic “super minister” Thursday, the third economy minister in less than a month as the country struggles with high inflation and a slumping currency.
WASHINGTON (AP) — President Joe Biden hailed a nascent Democratic package of climate, health care and tax initiatives as “a giant step forward” for the country Thursday as congressional leaders began nailing down votes for a campaign-season bill they've cast as a boon for voters struggling with inflation.