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The Senate has approved Democrats' big election-year economic package. The legislation is less ambitious than President Joe Biden’s original domestic goals. But it embodies deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing big corporations. Debate began Saturday and went around the clock into Sunday afternoon. Democrats had swatted down some three dozen Republican efforts to torpedo the legislation. Biden is urging swift House passage, and the House seems on track to provide final congressional approval when it returns briefly from summer recess on Friday.

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A divided Senate has voted to start debating Democrats’ election-year economic bill. The sprawling measure contains many of President Joe Biden’s climate, energy, health and tax goals. United Democrats pushed the 755-page measure toward Senate approval early Sunday. Before reaching final passage, senators plodded through a nonstop pile of amendments that seemed certain to last hours. The package is a dwindled version of earlier multitrillion-dollar bills from Biden that Democrats failed to advance. The measure has become a partisan battleground over inflation, gasoline prices and other issues that polls show are driving voters. The House, where Democrats have a slender majority, could give the legislation final approval next Friday.

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A ship bringing corn to Lebanon is offering hope after becoming the first to depart a Ukrainian Black Sea port since Russia invaded. The war has threatened food supplies in countries like Lebanon, which has the world’s highest rate of food inflation and depends on the Black Sea region for nearly all of its wheat. The shipment is a key first step to get food trapped in Ukraine to Africa, the Middle East and parts of Asia where people are going hungry. But the small scale means the initial shipments won't draw down food prices or ease a global food crisis soon. Experts also say most of the trapped grain is for animal feed, not for people to eat.

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Senate Majority Leader Chuck Schumer says Democrats have made changes in their giant economic bill that include paring part of their proposed minimum tax on huge corporations. Schumer described some of the revisions Friday as Democrats lined up the votes needed to deliver a campaign-season victory to President Joe Biden on his domestic agenda. Schumer also said bargainers dropped a proposed tax boost on hedge fund executives after pivotal centrist Sen. Kyrsten Sinema of Arizona said she would otherwise vote “no.” Schumer said the package would instead levy new taxes on companies that buy back their own stock.

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Stocks are closing mostly lower Friday after new data on the hot U.S. jobs market suggested the Fed won’t soon rein in its aggressive rate hikes. The S&P 500 is down 0.2% and the Nasdaq lost 0.5%, while the Dow Jones industrials notched a small gain. Employers unexpectedly accelerated their hiring last month and added hundreds of thousands more jobs than forecast. While the data suggests the economy may not be in a recession, it also undercuts investor hopes that inflation may be close to peaking. Treasury yields jumped. Warner Bros. Discovery had its third worst day ever after recording weak second quarter results.

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U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemployment dropped another notch, from 3.6% to 3.5%, matching the more than 50-year low reached just before the pandemic took hold. The economy has now recovered all 22 million jobs lost in March and April 2020 when COVID-19 slammed the U.S. The red-hot numbers were reported Friday by the Labor Department. Economists had expected only 250,000 new jobs last month, in a drop-off from June’s revised 398,000. Instead, July proved to be the best month since February.

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Senate Democrats say they have reached an accord on changes to their marquee economic legislation, clearing the major hurdle to pushing one of President Joe Biden’s leading election-year priorities through the chamber in coming days. Arizona Sen. Kyrsten Sinema, a centrist who was seen as the pivotal vote, says she is ready to “move forward” on the bill. Senate Majority Leader Chuck Schumer of New York says lawmakers have achieved a compromise that will receive the support of all Democrats in the chamber. His party needs unanimity and Vice President Kamala Harris’ tie-breaking vote to move the measure through the Senate over certain solid opposition from Republicans.

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Asian stock markets are higher ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. U.S. futures and oil prices edged higher. Investors were looking ahead Friday to U.S. employment figures for signs of weakness that might prompt the Fed to decide it needs to ease off aggressive rate hikes to cool inflation. Investors worry rate increases by the Fed and other central banks in Europe and Asia might derail economic growth. Fed officials point to a strong job market as evidence the economy can tolerate higher borrowing costs.

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The Bank of England has projected that the United Kingdom’s economy will enter a recession at the end of the year. To tame accelerating inflation driven by the fallout from Russia’s war in Ukraine, the bank hiked interest rates Thursday by the largest amount in more than 27 years. The bank says inflation will accelerate to over 13% in the final three months of the year and remain “very elevated” for much of 2023. The bank’s forecasters say inflation will hit its highest point for more than 42 years amid the doubling of wholesale natural gas prices tied to the war. Central banks worldwide are struggling to control surging inflation without tipping economies into recession.

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Asian shares are mostly higher as investors welcome encouraging economic data and quarterly earnings reports from big companies. Benchmarks rose Thursday across the region, including Japan, China, Australia and South Korea. The gains followed a strong rally on Wall Street. Jitters eased over the visit of U.S. House Speaker Nancy Pelosi to Taiwan after she left for South Korea and then later Japan, firm U.S. allies for decades. But analysts said some geopolitical risks remain, with China conducting military exercises near the self-ruled island that it claims as its own territory. Investors are also watching U.S. nonfarm payrolls for indications on hiring.