World shares mostly higher; China plans stimulus measures

Business 12/25/19, 22:33

Global markets edged higher on Thursday though trading was subdued after the Christmas holidays. Chinese markets surged after the government announced a relaxation of residency restrictions for small and medium cities that boosted property stocks. The Shanghai Composite index jumped 0.9% to 3,007.35. Heavyweight property shares led a late rally after ...

US economy looking durable despite risks from trade conflict

Business 11/27/19, 08:08

A series of government reports Wednesday cast a picture of a steadily growing U.S. economy, fueled by solid consumer spending and defying threats — at least for now — from a U.S.-China trade war and a global slowdown. The Commerce Department estimated that the economy grew at a moderate 2.1% annual ...

Why tariff war threatens Beijing’s global economic ambitions

World 05/12/19, 10:26

China's intensified tariff war with the Trump administration is threatening Beijing's ambition to transform itself into the dominant player in global technology. The United States is a vital customer and source of technology for Chinese makers of electronics, medical equipment and other high-tech exports — industries that the ruling Communist Party ...

Update: California governor proposes $213.5B budget

U.S. 05/09/19, 13:12

The Latest on California Gov. Gavin Newsom's budget proposal (all times local):11 a.m.California Gov. Gavin Newsom has proposed a $213.5 billion state government spending plan that boosts spending on homelessness, wildfire prevention and K-12 education.Gov. Gavin Newsom discusses a proposal to eliminate the state sales tax on tampons and diapers ...

GOP states discover a tax hike they have to like: For roads

Politics 04/14/19, 09:57

Some lawmakers in several Republican-dominated states have decided it’s time to make a big exception and are pushing for tax increases to fix roads. In the past month alone, the Republican governors of Ohio, Alabama and Arkansas have signed fuel tax hikes. Meanwhile, proposed increases are being considered by three legislatures ...

House Democrats pursue a reckless spending deal, not a budget

Politics 04/08/19, 21:46

Democrats are trying to put the last nail in the coffin of the Budget Control Act of 2011, one of the few remaining semblances of fiscal restraint left in Washington. This week, the House likely will vote on a plan to raise the law’s discretionary spending caps by at least $357 ...

US economy revises down Q4 growth rate to 2.2 percent

Business 03/28/19, 07:38

U.S. economic growth slowed sharply in the fourth quarter last year to an annual rate of just 2.2 percent. There are concerns that growth has slowed even more in the first quarter this year as global weakness, fading government stimulus and rising trade tensions have taken on a toll on ...

Poll: More Americans say too little spending on health

Politics 03/21/19, 11:18

A growing majority of Americans want greater government spending on health care, and the increase is being driven by both Democrats and Republicans. That's according to new data from the General Social Survey, a widely respected trend survey that has been measuring views of government spending since the 1970s. An analysis ...

Appeals court to hear arguments in Trump hotel lawsuit

U.S. 03/16/19, 08:16

The outcome of a lawsuit alleging that Donald Trump is violating the U.S. Constitution by profiting off the presidency could depend largely on competing definitions of an antiquated word: emoluments. At the center of the lawsuit is the emoluments clause of the U.S. Constitution, which bans federal officials from accepting benefits ...

Premier: China needs ‘strong measures’ to support economy

Business 03/14/19, 22:02

China's top economic official says the country needs "strong measures" to counteract downward pressure on growth but Beijing plans to promote market-oriented reforms instead of relying on more lending and deficit government spending.Premier Li Keqiang, speaking in a nationally televised news conference, said Friday the communist government will cut taxes ...

Japan’s economy rebounded in final quarter of 2018

Business 02/13/19, 23:04

Japan's economic growth for the last three months of 2018 rebounded from a slump the previous quarter, growing at an annual rate of 1.4 percent. The preliminary data the Cabinet Office released Thursday showed recovery in various categories, including exports, consumer demand, investments and government spending. Gross domestic product, or the total ...

India’s central bank lowers key lending rate to 6.25 percent

Business 02/07/19, 03:20

India's central bank on Thursday lowered its key interest rate by a quarter of a percentage point to 6.25 percent, a step that is expected to boost the economy. The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but can also ...

China 2018 economic growth falls to 3-decade low

Business 01/20/19, 21:40

China's 2018 economic growth fell to a three-decade low as activity cooled amid a tariff war with Washington. The world's second-largest economy expanded by 6.6 percent over a year earlier, down from 2017's 6.9 percent, official data showed Monday. Growth in the three months ending in December cooled to 6.4 percent ...

China slump squeezes workers, hammers consumer spending

Business 01/17/19, 23:21

Yu Mingang had a good job helping Chinese manufacturers prepare to sell shares to the public until the cooling economy derailed those plans. As demand for auditing services sank, the 25-year-old accountant in the eastern city of Hangzhou was laid off in December. Yu tightened his belt: No more movies or ...

Shutdown squeezing Alabama city built on federal spending

U.S. 01/11/19, 02:20

Once known for its cotton trade and watercress farms, Huntsville, Alabama, is now the ultimate government town: About 70 federal agencies are located at the Army's 38,000-acre Redstone Arsenal. More than half of the area's economy is tied to Washington spending. As the government shutdown drags into a third week, people ...

Property tax reform a key issue for GOP legislative leaders

Business 01/10/19, 16:21

Iowa GOP legislative leaders said Thursday they plan to go into the 2019 session challenging the way things are done in state government focusing on several issues including property taxes and picking judges.Senate Republican leader Jack Whitver said at a legislative forum hosted by The Associated Press that Iowans expressed ...

Explains: What happens in a partial government shutdown

Politics 12/29/18, 14:30

A look at the impact of the partial government shutdown that began on Dec. 22: ____ WHAT'S OPEN AND WHAT'S CLOSED Social Security checks will go out and troops will remain at their posts. Doctors and hospitals will receive their Medicare and Medicaid reimbursements. The U.S. Postal Service is an independent agency and ...

Tokyo Olympic minister promises transparency on spending

Sports 10/30/18, 07:39

The minister in charge of the 2020 Tokyo Olympics said Tuesday that national government spending on the event is billions less than a recent national government audit showed.Tracking Olympic costs is difficult with many murky areas and disputes about what are — and what are not — Olympic expenditures. It ...

US budget deficit hits highest level in 6 years

Business 10/15/18, 10:57

The federal budget deficit has surged to $779 billion in fiscal 2018, its highest level in six years as President Donald Trump's tax cuts caused the government to borrow more heavily in order to cover its spending.The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. ...

End of content

No more pages to load