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Economy News

Mexican standoff imperils proposed 10M-barrel OPEC+ oil cut

A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, ...

Earl Graves Sr., founder of Black Enterprise magazine, dies

Earl Graves Sr., who championed black businesses as the founder of the first African American-owned magazine focusing on ...

Federal Reserve to boost small business lending efforts

The Federal Reserve said Monday it will support the government's $349 billion small business lending program, which had a ...

Justices rule for federal employee over age discrimination

Well, OK, boomer. The Supreme Court made it easier Monday for federal employees 40 and older to sue for age discrimination.

SeaWorld CEO resigns five months into job, cites board

SeaWorld Entertainment's chief executive has resigned only five months into his job, becoming the third leader of the theme ...

US service sectors slows in March

Growth in the U.S. service sector slowed in March with a much bigger decline expected in coming months from all the shutdowns ...

US trade gap falls to $39.9 in February, lowest since 2016

The U.S. trade deficit tumbled in February to the lowest level since 2016 as exports fell and imports fell more.

Sprint and T-Mobile merge, creating new wireless giant

Mobile carrier T-Mobile has completed the takeover of smaller rival Sprint, creating a new wireless giant that rivals AT&T ...

Mercedes has worst Takata air bag recall completion rate

Of all the automakers that are recalling dangerous Takata air bag inflators, Mercedes is the laggard when it comes to getting ...

US home prices rose at 3.1% annually in January

U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the ...

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 ...

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 ...

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 ...

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 ...

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 ...

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) ...

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.

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 ...

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 ...

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 ...

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