Economy

LONDON (AP) — Cybersecurity and space 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. The Global Risks Report is usually released ahead of the annual... Read More

WASHINGTON (AP) — U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a time when businesses are struggling to fill jobs with many Americans remaining reluctant to return to the workforce. The Labor... Read More

PURCHASE, N.Y. — Holiday retail sales, excluding automotive, increased 8.5% year-over-year this holiday season, according to Mastercard SpendingPulse. Mastercard SpendingPulse measures in-store and online retail sales across all forms of payment. It defines the “holiday season” as the period running... Read More

NEW YORK — Despite concerns over well-publicized supply chain bottlenecks and a surging omicron variant of the coronavirus, consumer confidence grew in December, The Conference Board reported Wednesday. The not-for-profit, non-advocacy think tank said its proprietary Consumer Confidence Index now... Read More

NEW YORK (AP) — After a wearying nearly two years of the pandemic, independent retailers are cautiously hoping their holiday seasons will be bright, despite the challenges this year ranging from supply chain snags to shortages of hot holiday items.... Read More

WASHINGTON — As states across the country prepare for a continued surge in cases of the omicron variant, a coalition of independent restaurant owners is urging Congress to replenish an emergency relief fund for their industry. According to the Independent... Read More

NEW YORK — Goldman Sachs downgraded its growth forecast for the U.S. economy in the wake of Sen. Joe Manchin’s announcement during a televised interview that he will not support President Joe Biden’s Build Back Better plan. In a note... Read More

DAVOS, Switzerland — For the second year in a row, the coronavirus is wreaking havoc on the World Economic Forum’s annual meeting in Davos. The organization, which has been hosting the high-profile networking event for business executives, world leaders and... Read More

WASHINGTON — The Biden administration on Thursday announced a plan to increase the number of commercial truck drivers in a bid to alleviate supply chain gridlock. The plan includes assistance to state motor vehicle departments to issue more commercial licenses,... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week despite signs that the U.S. labor market is rebounding from last year's coronavirus recession. Jobless claims rose by 18,000 to a 206,000, still low by historical... Read More

SAN ANTONIO — Members of the Blue Dog Coalition hosted a virtual roundtable discussion on Wednesday over impediments to the national supply chain as well as what’s being done to solve them. The discussion featured input from Gene Seroka, executive... Read More

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from propping up the economy and likely will raise interest rates at least three times in 2022. As recently as September,... Read More

WASHINGTON —The House on Wednesday night overwhelmingly endorsed a bipartisan bill intended to strengthen ocean supply chains that have been racked by bottlenecks since last summer. The Ocean Shipping Reform Act, introduced by Rep. John Garamendi, D-Calif., in August just... Read More

WASHINGTON — Holiday shopping appears to be on track to beat out the National Retail Federation’s spending forecast in spite of continued supply chain impediments, rising inflation and the omicron variant. Holiday retail sales for November and December are now... Read More

WASHINGTON (AP) — America’s employers slowed the pace of their hiring in November, adding 210,000 jobs, the fewest in nearly a year. Friday’s report from the Labor Department also showed that the unemployment rate fell sharply to 4.2% from 4.6%.... Read More

WASHINGTON — The get-tough attitude toward China’s trade practices was on full display Thursday during a congressional hearing as international tensions heat up. Trade experts and lawmakers accused China of unfairly subsidizing its industries to beat out American competitors, stealing... Read More

With less than four weeks to go until Christmas, Kristyn Begari has been rushing to find enough doll styling heads to give to kids in need. But, the purchasing coordinator for the California-based nonprofit Family Giving Tree says it's been... Read More

NEW YORK (AP) — Global shares mostly slipped Tuesday as investors cautiously weighed how much damage the new omicron coronavirus variant may unleash on the global economy. Germany's DAX lost 1.1% to 15,106.35 in afternoon trading. France’s CAC 40 slipped... Read More

NEW YORK (AP) — Retailers are expected to usher in the unofficial start to the holiday shopping season Friday with bigger crowds than last year in a closer step toward normalcy. But the fallout from the pandemic continues to weigh... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits plummeted last week to the lowest level in more than half a century, another sign that the U.S. job market is rebounding rapidly from last year's coronavirus recession. Jobless... Read More

WASHINGTON (AP) — It took half a year but Democrats have driven President Joe Biden’s $2 trillion package of social and climate initiatives through the House. It gets no easier in the Senate, where painful Republican amendments, restrictive rules and Joe Manchin... Read More

WASHINGTON (AP) — President Joe Biden announced Monday that he's nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing Powell's stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies... Read More

WASHINGTON (AP) — Democrats brushed aside months-long divisions and approached House passage of their expansive social and environment bill Friday, as President Joe Biden and his party neared a defining win in their drive to use their control of government... Read More

WASHINGTON (AP) — A divided House finally launched debate Thursday on Democrats' expansive social and environment bill, with party leaders hoping that cost estimates expected from Congress' top fiscal analyst would nail down moderate lawmakers' votes and allow passage by week's... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell for the seventh straight week to a pandemic low of 268,000. U.S. jobless claims dipped by 1,000 last week from the week before, the Labor Department reported Thursday.... Read More

WASHINGTON — President Biden asked the Federal Trade Commission on Wednesday to investigate if oil companies are illegally driving up gas prices. In a letter to FTC Chair Lina Khan, the president says there is “mounting evidence of anti-consumer behavior... Read More

WASHINGTON (AP) — President Joe Biden is highlighting billions of dollars in his giant bipartisan infrastructure deal to pay for the installation of electric vehicle chargers across the country, an investment he says will go a long way to curbing planet-warming carbon emissions while creating good-paying... Read More

WASHINGTON (AP) — Americans sharply boosted their spending last month, pushing up retail sales and giving the economy a lift. Much of the gain reflected the fact that shoppers are also paying higher prices. Retail sales rose a seasonally adjusted... Read More

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell to a new pandemic low 267,000 last week, another sign that the job market is recovering from last year's sharp coronavirus downturn. Jobless claims fell by 4,000 last... Read More

WASHINGTON — The U.S. economy has transitioned ”from recovery to expansion” as of the second fiscal quarter of this year, said Richard Calida, vice-chair of the board of governors of the Federal Reserve, Monday.  This rapid recovery from the pandemic-induced... Read More