TAIPEI, Taiwan (AP) — The sweeping “zero-tolerance” strategy that China has used to keep COVID-19 case numbers low and its economy functioning may, paradoxically, make it harder for the country to exit the pandemic.
The US central bank has voiced concerns that central bank digital currencies (CBDCs) could weaken America's dominance in the global financial system, while calling for more research and public support.
United States President Joe Biden took office a year ago promising a shift from the destructive policies of his predecessor, Donald Trump.
Stocks fell again on Wall Street Friday, capping off the worst weekly drop for the S&P 500 since the start of the pandemic.
Investors have grown increasingly worried about rising inflation and how aggressive the Federal Reserve might be in raising interest rates to tamp it down.
WASHINGTON (AP) — Facing a bleak national picture, President Joe Biden on Friday embraced the old adage about politics being local — highlighting his plans from the $1 trillion infrastructure deal for the United States Conference of Mayors.
SACRAMENTO, Calif. (AP) — California's unemployment rate dipped a half-percentage point in December as the most populous state added 50,700 nonfarm jobs, accounting for more than a quarter of the nation’s 199,000 new jobs for the month, according to new data released Friday.
The Biden administration on Friday announced policy changes to attract international students specializing in science, technology, engineering and math — part of the broader effort to make the U.S.
NEW YORK (AP) — New York City's new mayor, Eric Adams, plans to convert his first paycheck this week into two cryptocurrencies, which he has been hyping as a potential economic engine for the city.
DOVER, Del. (AP) — Democratic Gov. John Carney stressed the need to expand Delaware’s economy and improve its public schools during his State of the State speech to lawmakers Thursday.
Carney also thanked state officials for their response to the coronavirus pandemic and Delawareans for their “resilience,” but warned that “we aren’t through it yet.”
EXPLAINER: How sweeping EU rules would curb tech companies
LONDON (AP) — European Union lawmakers have approved proposed rules that would require online companies to ramp up efforts to keep harmful content off their platforms and take other steps to protect users.
OMAHA, Neb. (AP) — The economy in rural parts of 10 Plains and Western states remains strong, according to a new monthly survey of bankers in the region released Thursday, but those bankers said they have growing concerns about the rising costs associated with running farms.
President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would.
His $1.9 trillion coronavirus relief package, enacted in March, drove what will probably be the fastest economic growth since 1984 and pulled the unemployment rate down to 3.9% at a quicker pace than experts predicted.
TOKYO (AP) — Japan’s exports and imports both reached record highs in December, largely because of surging oil prices and a weaker yen, the government said Thursday.
Japan’s imports last month surged 41% from the same month a year earlier.
COLUMBIA, S.C. (AP) — Gov. Henry McMaster said Wednesday that a booming economy and billions of dollars of extra revenue and federal COVID-19 relief money gives the state a once-in-a-lifetime chance to take bold steps to transform South Carolina.
BEIJING (AP) — Asian stock markets rose Thursday after China cut interest rates to shore up flagging economic growth and Japan reported a double-digit rise in exports.
Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul advanced.
WASHINGTON (AP) — In a self-appraisal that didn't always fit with the facts, President Joe Biden on Wednesday made the dubious assertion that he's outperformed all expectations on the pandemic in his first year and inflated his contribution to COVID-era economic growth.
FRANKFORT, Ky. (AP) — Kentucky bourbon has elevated its status as an economic powerhouse, with distillers pumping nearly $9 billion into the state's economy each year, a new study showed Wednesday.
KABUL, Afghanistan (AP) — Five months into their rule of Afghanistan, the Taliban have increased revenue, cracked down on corruption and collected a surprising $1 billion in exports, the U.N. representative for the country said Wednesday.
WASHINGTON (AP) — Treasury Secretary Janet Yellen told a gathering of America’s mayors on Wednesday that the Biden administration’s coronavirus relief bill was like a vaccine preventing catastrophic economic damage that could have returned the nation to the financial woes seen at the beginning of the pandemic.
ANKARA, Turkey (AP) — Turkey’s government and central bank have taken unconventional steps in recent weeks to prop up a beleaguered economy crippled by skyrocketing consumer prices, instead of ending a much-criticized plan to cut interest rates.
BANGKOK (AP) — More than a half million people in Afghanistan have lost their jobs since the Taliban takeover in mid-August, the International Labor Organization said in a report released Wednesday.
WASHINGTON (AP) — U.S. competition regulators have mounted an effort to tighten enforcement against illegal mergers, in line with President Joe Biden’s mandate for greater scrutiny to big business combinations.
BERLIN (AP) — Germany's arms exports reached record levels in 2021, largely due to significant sales of maritime and air defense weapons to Egypt, officials said Tuesday.
Preliminary figures released by the Economy Ministry show Germany exported arms worth 9.35 billion euros ($10.65 billion) last year, an increase of 61% compared to 2020.
SEOUL, South Korea (AP) — Grappling with pandemic difficulties and U.S.-led sanctions over his nuclear ambitions, North Korean leader Kim Jong Un could be reviving his 2017 playbook of nuclear and missile brinkmanship to wrest concessions from Washington and his neighbors.
BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation.
Finance ministers from the 19 nations that share the euro currency pledged continued budgetary stimulus for the European economy amid headwinds caused by the highly transmissible omicron variant.
MADRID (AP) — German Chancellor Olaf Scholz and Spanish Prime Minister Pedro Sánchez met Monday in the Spanish capital to align their left-wing agendas and plan how to boost progressive policies in the 27-nation European Union.
BEIJING (AP) — Chinese leaders are under pressure to boost slumping economic growth while they try to contain coronavirus outbreaks ahead of next month's Winter Olympics in Beijing.
The world's second-largest economy grew by 8.1% last year, but activity fell abruptly in the second half as the ruling Communist Party forced China's vast real estate industry to cut surging debt, official data showed Monday.
BANGKOK (AP) — World shares were mixed on Monday after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.
Paris, Frankfurt, Tokyo and Shanghai advanced while Hong Kong and Seoul declined.
BANGKOK (AP) — Shares were mixed in Asia on Monday after China reported that its economy expanded at an 8.1% annual pace in 2021, though growth slowed to half that level in the last quarter.
Tokyo, Shanghai and Sydney rose, while Hong Kong and Seoul declined.
BERLIN (AP) — A senior European Central Bank official says that raising interest rates prematurely could “choke off the recovery,” comments that come as inflation in the 19-nation euro area has hit a record rate.
ATHENS, Greece (AP) — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.
In a report issued Friday, Fitch estimates that the Greek economy grew 8.3% in 2021, much faster than the 4.3% forecast in its previous rating review last July, although growth still took a hit in the last quarter as a result of the coronavirus pandemic waves fueled by virus variants.
NEW YORK (AP) — Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.
But Inflation is clouding the outlook for 2022, based on comments from bank executives to reporters and industry analysts.
SILVER SPRING, Md. (AP) — Wells Fargo easily beat Wall Street expectations for the fourth quarter with interest rates beginning to take off, likely another boost for the nation's largest mortgage lender going forward.
WASHINGTON (AP) — He was supposed to break through the congressional logjam. End the pandemic. Get the economy back on track.
Days before he hits his one-year mark in office, a torrent of bad news is gnawing at the foundational rationale of President Joe Biden’s presidency: that he could get the job done.
FRANKFURT, Germany (AP) — The risk of recession is looming for Germany after Europe’s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COVID-19's omicron variant deterring people from shopping and travel and supply bottlenecks holding back manufacturers.
LINCOLN, Neb. (AP) — Nebraska Gov. Pete Ricketts proposed an income tax cut on Thursday for corporations and nearly 419,000 residents whose incomes rise into the state's top bracket.
The Republican governor said he would seek to lower the top rates to 5.84%, down from the current 6.84% for individuals and 7.25% for corporations that are set to take effect next year.
LONDON (AP) — Cyberthreats and the growing space race are emerging risks to the global economy, adding to existing challenges posed by climate change and the coronavirus pandemic, the World Economic Forum said in a report Tuesday.
WASHINGTON (AP) — Heading into a critical midterm election year, the top political concerns of Americans are shifting in ways that suggest Democrats face considerable challenges to maintaining their control of Congress.
FRANKFURT, Germany (AP) — OPEC and allied oil-producing countries decided Tuesday to pump more oil to the world economy amid hope that travel and demand for fuel will hold up despite the rapid spread of the omicron variant of COVID-19.
TRAVERSE CITY, Mich. (AP) — Gov. Gretchen Whitmer on Wednesday called for Michigan to become “carbon neutral” by 2050 in the fight against climate change, which would require steep reductions in greenhouse gas emissions and significantly greater use of renewable energy.