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Economy News

July 20, 2018
UK PM May and her Brexit vision get little sympathy from EU
Embattled British Prime Minister Theresa May found little sympathy Friday from the European Union's 27 other nations in her ...
Xi Jinping, Mohamed bin Zayed Al Nahyan
July 20, 2018
Chinese president meets top leaders in 1st visit to UAE
Chinese President Xi Jinping is in the United Arab Emirates meeting with top leaders as the two countries seek to deepen ...
Brendan Kennedy
July 19, 2018
Canadian marijuana company Tilray has first US pot IPO
A Canadian company is the first marijuana business to complete an initial public offering on a major U.S. stock exchange, ...
July 19, 2018
Microsoft profit up, aided by cloud rivalry with Amazon
Microsoft Corp. on Thursday reported quarterly profit of $8.9 billion, boosted in part by its efforts to rival Amazon as a ...
July 19, 2018
NOT REAL NEWS: Elon Musk not leaving Tesla for startup
Elon Musk has not announced plans to leave Tesla to start a digital currency company despite a false report circulating ...
July 19, 2018
Union Pacific's 2Q profit jumps as volume rises 4 percent
Union Pacific Corp. hauled in 29 percent more second-quarter profit as the railroad handled 4 percent more shipments, but the ...
July 19, 2018
Average US mortgage rates dip; 30-year at 4.52 percent
Long-term U.S. mortgage rates edged slightly lower this week. Mortgage buyer Freddie Mac says the average rate on 30-year, ...
July 19, 2018
Chinese president visits UAE amid push to increase influence
Chinese President Xi Jinping arrived in Abu Dhabi on Thursday on his first trip to the United Arab Emirates as the leader of ...
July 19, 2018
Abu Dhabi awards $1.6 billion survey project to China's CNPC
The Abu Dhabi National Oil Company says it has awarded contracts worth AED 5.88 billion ($1.6 billion) to China's largest ...
July 19, 2018
Global stocks drift lower as US considers more tariffs
Global stock markets drifted lower Thursday as the U.S. mulled whether to impose new tariffs on autos and auto parts.
July 19, 2018
Japan prosecutors charge Kobe Steel in fake data scandal
Japanese prosecutors charged major steelmaker Kobe Steel Thursday with violating laws overseeing competition in a massive ...
July 19, 2018
AmEx 2Q profit rises, but there are worry spots on lending
American Express said Wednesday that its second-quarter profit rose 21 percent from a year ago, as the credit card giant saw ...
July 18, 2018
Puerto Rico's power company sees 3rd CEO in 2 weeks
Puerto Rico's governor named a new CEO on Wednesday to lead the U.S. territory's power company, which has now seen three top ...
July 18, 2018
Alaska spaceport shortlisted for Rocket Lab launch site
A California-based rocket company has shortlisted the spaceport in Kodiak, Alaska, as a possible permanent home for its ...
July 18, 2018
Iran nuclear chief says uranium stockpile reaches 950 tons
Iran continues to acquire uranium and is close to finishing a factory where it can build more centrifuges to enrich it, the ...
July 18, 2018
US housing starts tumbled 12.3 percent in June
U.S. homebuilders sharply curtailed the pace of construction in June as housing starts plummeted 12.3 percent. The Commerce ...
July 18, 2018
Morgan Stanley 2Q profits jump 39 percent, helped by trading
Investment bank Morgan Stanley said its second-quarter profits rose by 39 percent from a year ago, driven by another strong ...
July 18, 2018
Morgan Stanley posts profit of $1.30 a share, tops estimates
Morgan Stanley says second-quarter net income totaled $2.44 billion. The New York-based company said Wednesday it had ...
July 18, 2018
South Korea slashes jobs outlook, downgrades growth forecast
South Korea's government dramatically cut its outlook on the job market while slightly lowering its growth forecast ...
July 18, 2018
MGM sues Vegas shooting victims in push to avoid liability
MGM Resorts International has sued hundreds of victims of the deadliest mass shooting in modern U.S. history in a bid to ...
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