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Economy News

March 29, 2020
Rosneft hands Venezuelan oil business to Russian state firm
Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move ...
March 27, 2020
US stocks tumble despite stimulus agreement
Wall Street capped a week of outsize gains for the stock market with more losses Friday as investors held out hope that a big ...
March 27, 2020
US consumer spending up modest 0.2% in February
Americans increased their spending by a modest amount in February but the expectation is that spending will be hit hard in ...
March 27, 2020
US indicts Venezuela's Maduro on narcoterrorism charges
Nicolás Maduro effectively converted Venezuela into a criminal enterprise at the service of drug traffickers and terrorist ...
March 25, 2020
US big-ticket factory orders up 1.2% in February
Orders to U.S. factories for big-ticket manufactured goods rose by a solid amount in February, but the gain came before the ...
March 23, 2020
SoftBank to buy back $41 billion in assets to trim debt
The Japanese technology and telecoms company SoftBank said Monday it plans to buy back up to 4.5 trillion yen ($41 billion) ...
March 20, 2020
Analyst: NYSE floor closure won't impact trading
The New York Stock Exchange will temporarily close its iconic trading floor in lower Manhattan and move to all-electronic ...
March 19, 2020
Automakers shut North American plants over coronavirus fears
Concerns about the spreading coronavirus forced most of North America's auto plants to close, at least temporarily.
March 18, 2020
New US home construction dips again in February
Construction of new homes fell again in February, but not as much as the previous month. Those declines follow a December ...
March 17, 2020
Retail sales fall 0.5% in February, biggest drop since 2018
Retail sales fell 0.5% in February, the largest drop in more than a year, indicating that the consumer sector was slowing ...
March 17, 2020
US industrial production rises 0.6% in February
U.S. industrial production rose last month for the first time since November as chillier weather kept utiliities busy and an ...
March 15, 2020
Explosion in Lagos kills at least 15, Nigerians probe cause
An explosion hit Nigeria's commercial capital of Lagos early Sunday, killing at least 15 people and sparking search-and- ...
March 15, 2020
Oil giant Saudi Aramco sees 2019 profits drop 20% to $88.2B
Oil giant Saudi Aramco said Sunday its profits dropped 20% in 2019 to $88.2 billion, a sharp decline coming as the kingdom ...
March 14, 2020
Bill Gates says he is stepping down from Microsoft board
Microsoft co-founder Bill Gates said Friday he is stepping down from the company's board to focus on philanthropy. Gates was ...
March 12, 2020
The Latest: Investors unsure how virus will impact profits
The Latest on the action in the financial markets (all times local): 4:40 p.m. A big part of the uncertainty driving the ...
March 12, 2020
US wholesale prices fall 0.6%, biggest decline in 5 years
U.S. wholesale prices fell 0.6% in February, the biggest decline in five years, led by a sharp drop in energy costs.
March 11, 2020
Senate passes rebuke of DeVos over student loan forgiveness
The Senate on Wednesday gave final congressional approval to a measure that would overturn rules issued by Education ...
March 11, 2020
Saudi Aramco to boost capacity; Abu Dhabi to increase supply
Saudi Arabia steamed ahead on Wednesday with its new energy play by directing the kingdom's oil company Aramco on Wednesday ...
March 11, 2020
Weathering the stock markets: one investor's strategy
Buy and hold — and don't sell when the stock market plunges. That's the strategy many market pros use, and it has served me ...
March 11, 2020
Employee of US-owned hemp farm in Myanmar gets 20 years jail
A court in Myanmar on Tuesday sentenced a local employee of an American-owned hemp farm to 20 years in prison for violating ...
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