VERONA, Italy (AP) — Early season merrymakers sipping mulled wine and shopping for holiday decorations packed the Verona Christmas market for its inaugural weekend. But beyond the wooden market stalls, the Italian city still has not decked out its granite-clad pedestrian streets with twinkling holiday lights as officials debate how bright to make the season during an energy crisis.
BEIJING (AP) — Macao has tentatively renewed the casino licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals after they promised to help diversify its economy by investing in non-gambling attractions, the government said Saturday.
NEW YORK (AP) — Cautious shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation.
WASHINGTON (AP) — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession.
BRUSSELS (AP) — The European Union and the United States are treading precariously close to a major trans-Atlantic trade dispute at a time when the two Western giants want to show unity in the face of challenges from Russia and China.
BERLIN (AP) — Germany's economy saw stronger growth in the third quarter than expected as consumer spending picked up following the lifting of pandemic restrictions.
Officials figures released Friday show gross domestic product in Europe's biggest economy grew by 0.4% from July to September, 0.1 percentage points higher than previously forecast.
LONDON (AP) — Rishi Sunak has been Britain’s prime minister for a month.
KUALA LUMPUR, Malaysia (AP) — Long-time reformist leader Anwar Ibrahim was sworn in as Malaysia's prime minister Thursday and vowed to heal a racially divided nation, fight corruption and revive an economy struggling with the rising cost of living.
BERLIN (AP) — Europe should be able to cope with the natural gas supply crunch in the coming months thanks to considerable reserves although the continent could face a bigger energy crisis next winter, the head of the International Energy Agency said Thursday.
NEW YORK (AP) — While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty still remains.
The U.S. job market remains strong, consumer spending is resilient and inflation has been slowing.
ANKARA, Turkey (AP) — Turkey’s central bank delivered another outsized interest rate cut Thursday despite inflation running at more than 85% and other countries moving the opposite way to ease the pain of soaring prices.
STOCKHOLM (AP) — Sweden’s central bank followed other central banks in undertaking a big increase to its key interest rate to combat inflation, saying Thursday that high prices are undermining people's purchasing power and making it tough for households and companies to plan their finances.
Inflation isn’t going to hurt the bankrolls of sports team owners.
In fact, it may help.
While the uber-rich will have to pay a little more for their eggs at the grocery store – just like everyone else – inflation isn’t likely to affect the bottom lines at their sports properties.
BANGKOK (AP) — Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S.
Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai.
WELLINGTON, New Zealand (AP) — New Zealand's central bank hiked interest rates Wednesday by a record amount as it tries to get inflation under control.
The Reserve Bank of New Zealand increased its benchmark rate by three-quarters of a point to 4.25%.
Canadian officials are getting tougher on economic ties with China " their top trading partner after the United States " following years of tensions and a broader trend of Western diversification away from the world's No 2 economy, experts say.
WASHINGTON (AP) — The Treasury Department released new details Tuesday of its long-awaited plan to impose a price cap on Russian oil, but the U.S. and its allies are still finalizing how much they'll pay for petroleum exports that have helped fund the war in Ukraine.
Hobbled by high interest rates, punishing inflation and Russia’s war against Ukraine, the world economy is expected to eke out only modest growth this year and to expand even more tepidly in 2023.
OMAHA, Neb. (AP) — American consumers and nearly every industry will be affected if freight trains grind to a halt next month.
BERLIN (AP) — Germany's governing parties and the main opposition bloc reached a compromise Tuesday that should allow an overhaul of the country's unemployment benefit system — a central policy of Chancellor Olaf Scholz's government — to go ahead in somewhat watered-down form.
BERLIN (AP) — Consumers and businesses in Germany will receive subsidies to soften the blow of higher natural gas and electricity prices starting in January, two months earlier than originally planned, officials said Tuesday.
TOKYO (AP) — A Japanese government-commissioned panel said in a report to Prime Minister Fumio Kishida that drastic defense buildup including the use of preemptive strike is “indispensable” to counter growing threats in the region.
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown.
Shanghai and Hong Kong declined while Tokyo advanced.
OMAHA, Neb. (AP) — Consumers could see higher gas prices and shortages of some of their favorite groceries during the winter holiday season if railroads and all of their unions can't agree on new contracts by an early-December deadline that had already been pushed back.
ATHENS, Greece (AP) — Greece’s economy is projected to grow by 1.8% next year, according to the country’s 2023 budget, slightly lower than the figures predicted last month as higher energy costs and inflation take a toll.
NEW YORK (AP) — Credit Karma is probably best known for giving Americans regular access to their credit scores, but the San Francisco-based company also acts as a starting place to shop for a loan, bank account or mortgage.
KABUL, Afghanistan (AP) — More Afghans will be struggling for survival as living conditions deteriorate in the year ahead, a top official of the International Committee of the Red Cross said in an interview, as the country braces for its second winter under Taliban rule.
From the Olympian heights they scaled to attend recent summits, national leaders had a clear view of the state of the world. As a result, the United States and China raised their sights on nuclear conflict and climate change, but on the global economy leaders failed to see through gathering dark clouds.
BANGKOK (AP) — Leaders from around the Asia-Pacific called for an end to Russia’s war on Ukraine and pledged to steer the region’s economies toward sustainable growth as they wrapped up summit meetings Saturday.
SACRAMENTO, Calif. (AP) — California said Friday it had recovered all of the 2.7 million jobs it lost at the start of the pandemic, a moment that normally would celebrate the end of a downturn but instead was tempered by signs of a wobbly economy amid layoffs in the state's historically strong tech industry.
WASHINGTON (AP) — President Joe Biden cautioned on Friday that “it's going to take time” for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy.
ORTIGIA, Sicily (AP) — Thousands of workers at a Russian-owned oil refinery in Sicily protested Friday against the threat of closure as Europe imposes a full embargo on Russian oil starting next month.
LONDON (AP) — Britain’s Conservative government on Friday defended its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation and the reckless tax-cutting of recently ousted Prime Minister Liz Truss.
KATHMANDU, Nepal (AP) — Nepal’s parliamentary elections being held Sunday are the fourth since the Himalayan nation abolished a centuries-old monarchy and became a republic. Nepalis have seen little change since, with the same generation of leaders holding power through their control of the main political parties.
BANGKOK (AP) — U.S. Vice President Kamala Harris arrived Thursday in Thailand, where she plans to affirm America's commitment to Southeast Asia and drive home the message that the region can count on the United States.
The Federal Reserve may have to raise its benchmark interest rate much higher than it has previously projected to get inflation under control, James Bullard, president of the Federal Reserve Bank of St.
Stocks fell on Wall Street and Treasury yields rose after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.
LONDON (AP) — Millions of people across Britain face higher taxes and energy bills after the government on Thursday announced an emergency budget focused on restoring the country’s financial credibility and bolstering an economy battered by soaring inflation.
LONDON (AP) — The British government on Thursday unveiled an emergency budget featuring billions in tax increases in a bid to restore trust and stability in the U.K.
HONG KONG (AP) — Chinese e-commerce company Alibaba Group on Thursday posted net losses and missed market expectations for revenue in its quarter ended September amid a slowing economy and depressed consumer sentiment.
NEW YORK (AP) — Corporate profits have withstood raging inflation over much of the last year, but those good times may be ending.
Profits stayed fat even as companies' costs rose thanks to one simple trick: Businesses boosted the prices they charged customers by more than their own costs rose.
TOKYO (AP) — Asian shares mostly declined Thursday amid concerns about the impact of China's “zero-COVID” strategy mixed with hopes for economic activity and tourism returning to normal.
Benchmarks fell in Tokyo, Seoul, Hong Kong and Shanghai, while gaining in Sydney.
NUSA DUA, Indonesia (AP) — Members of the Group of 20 leading economies ended their summit Wednesday with a declaration of firm condemnation of the war in Ukraine and a warning that the conflict is making an already delicate world economy worse.
SACRAMENTO, Calif. (AP) — California will likely have a $25 billion budget deficit next year, state officials announced Wednesday, ending a run of historic surpluses and acting as a warning to other states about a potential recession.
LONDON (AP) — Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday.
FRANKFURT, Germany (AP) — The European Central Bank sees an increased likelihood of a recession in the 19 countries that use the euro currency, warning that soaring energy prices and high inflation fed by Russia's war in Ukraine have raised risks for bank losses and turmoil on financial markets.
WASHINGTON (AP) — Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates.
Stocks are closing higher, boosted by more signs the nation’s high inflation may be falling off faster than expected. But a flare-up of worries about the war in Ukraine kept Wall Street shaky Tuesday and undercut much of its big morning gains.
NUSA DUA, Indonesia (AP) — Leaders of most of the world's economic powers are nearing approval of a declaration strongly denouncing Russia’s invasion that has devastated Ukraine and roiled the global economy.