NEW YORK (AP) — U.S. markets are pointing higher before the opening bell Monday as leaders of the Group of Seven economic powers pledged financial, humanitarian and other support for Ukraine.
Futures for the Dow Jones industrials gained 0.4% while futures for the S&P 500 rose 0.5% after it had its best day in two years Friday.
ELMAU, Germany (AP) — In 1975, leaders of the world’s wealthy democracies gathered to deal with an energy crisis sparked by a war and rampant inflation.
ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression.
WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits.
MUNICH (AP) — President Joe Biden is out to sustain the global alliance punishing Russia for its invasion of Ukraine as he embarks on a five-day trip to Europe as the 4-month-old war shows no sign of abating and its aftershocks to global food and energy supplies are deepening.
LONDON (AP) — Train stations were all but deserted across Britain on Saturday, as the third day of a national strike snarled the weekend plans of millions.
Train companies said only a fifth of passenger services would run, as about 40,000 cleaners, signalers, maintenance workers and station staff walked off the job in Britain’s biggest and most disruptive railway strike for 30 years.
YARDLEY, Pa. (AP) — The shock quickly turned to sadness for Victoria Lowe.
The 37-year-old lawyer, working outside a cafe in suburban Bucks County, Pennsylvania, said she couldn't believe the Supreme Court stripped away the constitutional right to abortion that women have had her entire life.
Rising food costs. Soaring fuel bills. Wages that are not keeping pace. Inflation is plundering people's wallets, sparking a wave of protests and workers’ strikes around the world.
Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market's brutal sell-off this year.
WASHINGTON (AP) — Back-to-back world leader summits in Europe opening this weekend will focus on uniting Western nations behind Ukraine in its fight against Russia's invasion and overcoming Turkey's opposition to NATO membership for Finland and Sweden.
BRUSSELS (AP) — A day after endorsing Ukraine's candidacy to join the European Union, the bloc's leaders turned their attention Friday to the severe economic turbulence from Russia’s war in the neighboring country as the conflict's full impact sinks in and the threat of recession rises.
BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses.
Tokyo's Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38.
ST. PAUL, Minn. (AP) — Republican gubernatorial candidate Scott Jensen called Thursday for tax cuts and a clampdown on government spending and regulations to help Minnesotans cope with the highest inflation rate in 40 years.
NEW YORK (AP) — The good news for stocks is that this year’s sell-off means they no longer look eye-wateringly expensive.
The bad news: That won’t matter if corporate profits give out.
A stock’s price rises or falls for essentially two reasons: how much cash a company generates and how much an investor is willing to pay for it.
WASHINGTON (AP) — As if their job weren't hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession.
WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week following last week's mammoth jump, the biggest in 35 years.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.81% this week, from last week's 5.78%.
WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite four-decade high inflation and a myriad of other economic pressures.
Applications for jobless aid for the week ending June 18 fell to 229,000, a decline of 2,000 from the previous week, the Labor Department reported Thursday.
BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street edged lower amid fears higher interest rates will chill global economic growth.
Shanghai and Hong Kong advanced, while Tokyo and Seoul declined.
WASHINGTON (AP) — President Joe Biden on Wednesday called on Congress to suspend federal gasoline and diesel taxes for three months — an election-year move meant to ease financial pressures that was greeted with doubts by many lawmakers.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession.
PRAGUE (AP) — The Czech Republic’s central bank once again raised its key interest rate significantly Wednesday as it tried to combat soaring inflation.
The hike of a percentage point and a quarter brought the interest rate to 7%, the highest level since early 1999.
LONDON (AP) — Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia's war in Ukraine drove food and fuel prices ever higher.
TOKYO (AP) — Asian shares were mostly lower Wednesday as markets shrugged off a Wall Street rally and awaited congressional testimony by Federal Reserve Chair Jerome Powell.
Japan’s benchmark Nikkei 225 shed 0.2% to 26,206.68.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed.
SOFIA, Bulgaria (AP) — Bulgarian lawmakers on Tuesday started debating a no-confidence motion against the minority government, on the eve of the vote that could well topple centrist Prime Minister Kiril Petkov, elected just months ago on pledges to fight corruption.
RENO, Nev. (AP) — The attack ads already are airing and campaign fundraising emails are flooding into inboxes as one of the most competitive U.S. Senate races in the country gets rolling in Nevada, where candidates will be juggling voters' concerns about a volatile economy and inflation that is rising at its fastest pace in decades.
LONDON (AP) — Tens of thousands of railway workers walked off the job in Britain on Tuesday, bringing the train network to a crawl in the country’s biggest transit strike for three decades — and a potential precursor to a summer of labor discontent.
Charitable giving in the United States reached a record $485 billion in 2021, though the increase did not keep pace with inflation, according to a report Tuesday offering a comprehensive look at American philanthropy.
HARARE, Zimbabwe (AP) — Striking nurses and other health workers have brought Zimbabwe's government hospitals to a near standstill, straining a once vibrant public health system now plagued by a lack of medicines and basic supplies such as gloves.
MILAN (AP) — Neither inflation nor the war in Ukraine are threatening to take a bite out of the luxury fashion market, according to a study published Tuesday.
While much of the world is fretting over higher fuel and energy prices, the study by Bain & Company consultancy indicated that the global luxury market remains set for growth, largely due to the continued resiliency of the world’s wealthiest people.
A lot can happen in six months. That’s why, as we close out the first half of the year, it makes sense to check in on your financial life.
“With inflation, I think people this year are more heavily impacted than they probably have been in many years leading up to this point,” says Jason Dall’Acqua, a certified financial planner and founder of Crest Wealth Advisors in Annapolis, Maryland.
It’s not a summer heat wave that's making European leaders and businesses sweat. It's fear that Russia's manipulation of natural gas supplies will lead to an economic and political crisis next winter.
INDIANAPOLIS (AP) — Indiana will see another increase in state gasoline taxes starting July 1 amid promises of inflation relief — including a proposal to issue direct payments to Indiana residents later this month.
REHOBOTH BEACH, Del. (AP) — President Joe Biden said Monday that he will decide by the end of the week whether he would support a federal gasoline tax holiday, possibly saving U.S. consumers as much as 18.4 cents a gallon.
LONDON (AP) — Britain is facing its biggest rail strikes in decades after last-minute talks between a union and train companies failed to reach a settlement over pay and job security.
Up to 40,000 cleaners, signalers, maintenance workers and station staff are due to walk out for three days this week, on Tuesday, Thursday and Saturday.
REHOBOTH BEACH, Del. (AP) — Treasury Secretary Janet Yellen said Sunday that she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable.
Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine.
The price of a foot of water pipe in Tucson, Arizona: up 19%. The cost of a ton of asphalt in a small Massachusetts town: up 37%. The estimate to build a new airport terminal in Des Moines, Iowa: 69% higher, with a several year delay.
WASHINGTON (AP) — Democrats are going to hold onto the House after November's midterm elections. They will pick up as many as four seats in the Senate, expanding their majority and overcoming internal dissent that has helped stifle their agenda.
WASHINGTON (AP) — Democrats are going to hold onto the House after November's midterm elections. They will pick up as many as four seats in the Senate, expanding their majority and overcoming internal dissent that has helped stifle their agenda.
SACRAMENTO, Calif. (AP) — California posted another strong jobs report on Friday as the unemployment rate fell to its lowest point since before the pandemic; but the news was overshadowed this week by the surest signs yet of a wobbly economy that could soon usher in a recession.