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European shares fall, Asia advances after Wall Street rally
European shares fall, Asia advances after Wall Street rally
| December 9th | 2019  7:16AM
European shares fall, Asia advances after Wall Street rally
Tokyo (AP) — Shares fell in Europe early Monday after a day of gains in Asia. Investors were encouraged by a wave of buying late last week on Wall Street that was spurred by strong U.S. jobs numbers and optimism over China-U.S. trade. France's CAC 40 slipped 0.2% in early trading to 5,860.03, while Germany's DAX declined 0.1% to 13,154.81.
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Official: China hopes for US trade pact as tariff hike nears
Official: China hopes for US trade pact as tariff hike nears
| December 9th | 2019  7:10AM
Official: China hopes for US trade pact as tariff hike nears
BEIJING (AP) — A Chinese official says Beijing wants a prompt settlement of its trade war with Washington. A deputy commerce minister said Monday that Beijing wants “satisfactory results as soon as possible.” The official gave no details of talks on a “Phase 1" deal announced by President Donald Trump in October. Another U.S.
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German exports rise in October, defying expectations
Economy news icon
| December 9th | 2019  3:32AM
German exports rise in October, defying expectations
BERLIN (AP) — German exports posted a second consecutive month-on-month increase in October, defying economists' expectations of a slight decline. The Federal Statistical Office said Monday that exports rose 1.2% compared with the previous month. That followed a 1.5% increase in September. In year-on-year terms, exports were up 1.9%, led by a 4.6% rise in demand from countries outside the European Union.
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North Korea opens mountain spa, ski resort in tourism push
North Korea opens mountain spa, ski resort in tourism push
| December 9th | 2019  3:06AM
North Korea opens mountain spa, ski resort in tourism push
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un opened a new mountain spa and ski resort that's intended for people to enjoy “high civilization under socialism” in another example of the country using tourism exemptions in sanctions to build revenue for its broken economy. Kim cut the ribbon during the ceremonial opening of…
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Big investors up call for governments to take climate action
Energy industry news icon
| December 9th | 2019  3:01AM
Big investors up call for governments to take climate action
MADRID (AP) — More than 600 institutional investors managing a whopping $37 trillion in client assets called Monday for governments to step up their efforts against climate change. The investors, including banks, pension funds and insurance companies, directed their message to countries participating in a two-week U.N. climate conference…
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Lufthansa selling European catering business to gategroup
Industrial products and services news icon
| December 9th | 2019  2:40AM
Lufthansa selling European catering business to gategroup
BERLIN (AP) — Lufthansa is selling the European business of its catering and services subsidiary LSG Group to Switzerland-based gategroup for an undisclosed amount, the German airline said Monday. The deal covers LSG's European catering operations as well as its lounge and equipment businesses, packaged food provider Evertaste and retail operator Ringeltaube, Lufthansa said.
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This Week: GameStop earns, Fed meeting, retail sales
This Week: GameStop earns, Fed meeting, retail sales
| December 9th | 2019  1:10AM
This Week: GameStop earns, Fed meeting, retail sales
A look at some of the key business events and economic indicators upcoming this week: ROUGH GAME It's been a rough year for GameStop. The video-game retailer slid to a loss in the second quarter versus a year earlier. That followed profit and revenue drops in the previous quarter. Did the trend continue…
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North Korea opens new mountain resort amid tourism drive
Corporate news news icon
| December 9th | 2019  1:07AM
North Korea opens new mountain resort amid tourism drive
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un opened a new mountain spa and ski resort that's intended for people to enjoy “high civilization under socialism” in another example of the country using tourism exemptions in international sanctions to build revenue for its broken economy. Kim cut the ribbon during the ceremonial…
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Asian shares rise after buying mood on Wall Street ends week
Meric Greenbaum, Fred DeMarco
| December 9th | 2019  12:16AM
Asian shares rise after buying mood on Wall Street ends week
TOKYO (AP) — Asian shares were mostly higher Monday, cheered by a wave of buying late last week on Wall Street that was spurred by strong U.S. jobs numbers and optimism over China-U.S. trade. Japan's benchmark Nikkei 225 edged up 0.4% in early trading to 23,439.13, while Australia's S&P/ASX 200 added 0.4% to 6,735.70. South Korea's Kospi edged up 0.3% to 2,087.92.
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State AGs look to head off T-Mobile-Sprint deal in court
State AGs look to head off T-Mobile-Sprint deal in court
| December 9th | 2019  12:01AM
State AGs look to head off T-Mobile-Sprint deal in court
NEW YORK (AP) — A high-drama telecom deal is heading to court. T-Mobile, in its attempt to buy Sprint for $26.5 billion, has already notched approvals from key federal regulators. Now it must convince a federal judge that the 14 state attorneys general suing to stop the deal are wrong. A trial starts Monday in U.S. District Court in New…
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Japan economy marks 4th straight quarter of expansion
Japan economy marks 4th straight quarter of expansion
| December 8th | 2019  11:54PM
Japan economy marks 4th straight quarter of expansion
TOKYO (AP) — Japan's economy expanded at a faster than earlier estimated annual rate of 1.8% in July-September, powered by stronger consumer purchases and corporate investment ahead of an Oct. 1 tax hike. However that tax increase is expected to hurt growth in coming months. The data issued Monday were a revision of the earlier reported 0.2% growth in the last quarter.
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Japan economy markets 4th straight quarter of growth
Economy news icon
| December 8th | 2019  10:08PM
Japan economy markets 4th straight quarter of growth
TOKYO (AP) — Japan's economy grew at an annual rate of 1.8% in July-September, according to revised government data, better than the modest annual pace of 0.2% it gave as an earlier estimate. The world's third largest economy has marked the fourth straight quarter of expansion, supported by consumer purchases ahead of a tax hike that kicked in recently.
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Average US price of gas drops 1 penny per gallon to $2.65
Energy industry news icon
| December 8th | 2019  4:30PM
Average US price of gas drops 1 penny per gallon to $2.65
CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline has dipped 1 penny per gallon (3.8 liters) to $2.65 over the past two weeks. Industry analyst Trilby Lundberg of the Lundberg Survey says Sunday that further cuts to retail gas prices are unlikely because crude oil costs are on the rise. The price…
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STORY REMOVED: AP-NABE Economic Outlook
Government policy news icon
| December 8th | 2019  4:12PM
STORY REMOVED: AP-NABE Economic Outlook
WASHINGTON (AP) — The Associated Press has withdrawn its story about the United States' economic outlook because the report has an embargo of 12:01 a.m. Monday, Dec. 9. AP will resend the story when the embargo has lifted.
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Business economists see US slowing but avoiding recession
Economy news icon
| December 8th | 2019  4:00PM
Business economists see US slowing but avoiding recession
WASHINGTON (AP) — The nation’s business economists expect U.S. economic growth to decelerate this year and next but for the economy to avoid stumbling into recession, extending a record-breaking expansion already in its 11th year. The latest survey by 53 forecasters with the National Association for Business Economics shows that they expect economic growth to slow from 2.9% last year to 2.3% in 2019 and 1.8% in 2020.
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Gannett: ‘Frontline’ reporting jobs will be last to get cut
Gannett: ‘Frontline’ reporting jobs will be last to get cut
| December 8th | 2019  11:55AM
Gannett: ‘Frontline’ reporting jobs will be last to get cut
NEW YORK (AP) — In November, newspaper publisher GateHouse completed its acquisition of USA Today owner Gannett, creating the largest newspaper publisher in the U.S. Executives behind the merger, which was funded in part by a high-interest, $1.8 billion loan from a private equity firm, have pledged significant cost cuts, but say they are aiming to shield…
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Ukraine, IMF reach $5.5 billion agreement
Economy news icon
| December 8th | 2019  9:42AM
Ukraine, IMF reach $5.5 billion agreement
KYIV, Ukraine (AP) — Ukraine and the International Monetary Fund have reached agreement on a new $5.5 billion program to boost the country's growth and economic reforms. The agreement, which still must be approved by the fund's management, was reached in a Saturday telephone call between Ukrainian President Volodymyr Zelensky and IMF managing director Kristalina Georgieva.
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China's trade with US sinks in November amid tariff war
Government policy news icon
| December 8th | 2019  5:21AM
China's trade with US sinks in November amid tariff war
BEIJING (AP) — China's trade with the United States sank again in November as negotiators worked on the first stage of a possible deal to end a tariff war. Exports to the United States fell 23% from a year earlier to $35.6 billion, customs data showed Sunday. Imports of American goods were off 2.8% at $11 billion, giving China a surplus…
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New Amazon lease for NY space renews debate over failed deal
New Amazon lease for NY space renews debate over failed deal
| December 7th | 2019  7:23PM
New Amazon lease for NY space renews debate over failed deal
NEW YORK (AP) — Amazon has signed a lease for a new office space in Manhattan that will house more than 1,500 employees, less than a year after pulling out of a deal for a larger headquarters in the borough of Queens after politicians and activists objected to nearly $3 billion in incentives. The new office almost immediately renewed…
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