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Economy News

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) ...

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 ...

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 ...

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- ...

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 ...

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 ...

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 ...

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.

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