Economy

U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission

The economy of the European Union is headed for only modest growth in coming months as consumers regain some of the purchasing power they lost to inflation, the bloc’s executive commission said Friday.

UK Treasury chief says she’s not satisfied by paltry third-quarter economic growth

Japan’s economy grows for a second straight quarter on the back of consumer spending

Singles’ Day shopping festival loses its shine under China’s lagging economy

Frustrated Americans await the economic changes they voted for with Trump

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Asian shares open higher but end mixed after US interest rate cut

Asian shares opened higher but ended Friday mixed after the Federal Reserve cut interest rates again to ease pressure on the U.S. economy.

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Federal Reserve Chair says Trump has no legal authority to fire him

Asian shares bounce after Trump’s victory as focus turns to the Fed

Trump calls for broad tariffs to spark a ‘new American industrialism’

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Stock market today: Wall Street cruises to more records as it closes its best week in a year

U.S. stocks cruised to more records as they closed their best week in a year. The S&P 500 rose 0.4% Friday to cap its biggest weekly gain since early November 2023. It also briefly crossed above the 6,000 level for the first time.

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending.

Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump

U.S. stock indexes edged lower after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% Wednesday.

US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates.

IMF chief warns that world risks falling into slow-growth rut and urges China to enact reforms

The world economy, buffeted by conflict and growing geopolitical rivalries, is in danger of getting stuck in a slow-growth, high-debt rut, the head of the International Monetary Fund warned Thursday.

Yellen says isolationism ‘made America and the world worse off’ in speech to global finance leaders

Treasury Secretary Janet Yellen says the U.S. economy has grown stronger because the Biden administration rejected isolationism, offering a barely veiled criticism of former President Donald Trump’s policies two weeks before the U.S. election.

China’s economy grows at a 4.6% rate in the last quarter, falls short of the official 5% target

China has reported that its economy expanded at a rate of 4.6% in the July-September quarter. The data released Friday show the world’s second largest economy slowing from 4.7% annual growth in the previous quarter.

China’s exports slow sharply in September, adding to worries over the economy

China’s exports slowed sharply in September as global demand weakened, adding to worries over how to recharge growth in the world’s second-largest economy.

Germany’s economy is on track to shrink for a second straight year

Germany’s government says its economy is on track to shrink for a second consecutive year. The German economy is Europe’s biggest. The outlook underlines the unpopular administration’s troubles as it heads into a difficult election year.

China announces more support for economy but holds back on major spending package

China’s economic planning agency has outlined details of measures aimed at boosting the economy but refrained from major spending initiatives.

US adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market

America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy.

Stock market today: Dow rallies to a record after a blockbuster jobs report

U.S. stocks rallied after a surprisingly strong U.S. jobs report raised optimism about the economy. The S&P 500 climbed 0.9% Friday to near its all-time high set on Monday.

US economy grew at a solid 3% rate last quarter, government says in final estimate

The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said, leaving its previous estimate unchanged.

China redoubles first-aid for its economy with support for banks and workers

China is redoubling its first-aid for the economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic.

Harris is making a ‘capitalist’ pitch to boost the economy as Trump pushes deeper into populism

Vice President Kamala Harris is pledging to build an economy that is both pro-business and helps the middle class as she pushes back against Republican nominee Donald Trump’s claims that she’s advancing “communist” ideas.

Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

The Asian Development Bank says it expects developing economies in the region to grow at a 5% annual pace this year, up slightly from its earlier estimate of 4.9% growth.

Japan’s economy is growing, but political uncertainty is among the risks

Japan’s economy grew at an annual rate of 2.9%, slower than the earlier report for 3.1% growth, in the April-June period, boosted by better wages and spending.

Stock market today: Wall Street falls sharply to close its worst week in nearly 18 months

Another rout hit Wall Street after an update on the U.S. job market came in weak enough to add to worries about the economy. The S&P 500 fell 1.7% Friday to close its worst week since March 2023.

Stock market today: Wall Street tumbles on worries about the economy, and Dow drops more than 600

U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy’s health.

US economic growth for last quarter is revised up to a solid 3% annual rate

The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said in an upgrade of its initial assessment.

US shoppers sharply boosted spending at retailers in July despite higher prices

Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates.

UK economy grows 0.6% between April and June as it recovers from recession

Official figures show that Britain’s economy continued its recovery from recession at the end of last year, with its GDP increasing by 0.6% between April and June.

Japan’s economy grew last quarter on healthy consumer spending and business investment

Japan’s economy grew at an annual rate of 3.1% last quarter, rebounding from the contraction in the previous quarter. Government data released Thursday showed the world’s fourth largest economy grew 0.8% in the fiscal first quarter.

Wall Street ends a wild and scary week almost exactly where it began. More tests loom next week

U.S. stocks closed a wild, whipsaw week for Wall Street with modest gains. The S&P 500 rose 0.5% Friday, coming off its best day since 2022, trimming its loss for the week down to less than 0.1%.

Saudi Arabia’s Aramco reports lower half-year profits as economic worries dampen energy prices

Saudi oil giant Aramco has reported half-year profits of $56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy.

Japan’s share benchmark soars nearly 11% a day after massive sell-offs that shook Wall Street

Japan’s benchmark Nikkei 225 index has soared nearly 11% a day after it set markets tumbling in Europe and on Wall Street. The Japanese index advanced more than 3,300 points, not quite making up for the huge loss of the day before.

The Fed’s high rates spur fear of slowdown, yet recession signals have so far proved wrong

The turmoil shaking global financial markets reflects a sudden fear that the Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a U.S. recession.

Stock market today: Dow drops 600 on weak jobs data as a global sell-off whips back to Wall Street

Stocks tumbled Friday on worries the U.S. economy could be cracking under the weight of high interest rates meant to whip inflation. The S&P 500 fell 1.8% Friday. The Nasdaq composite fell 2.4% and is now down 10% from its record set last month.

US hiring fell sharply in July, an unexpected setback for the economy stoking recession fears

The U.S. economy suffered an unexpected setback in July, as hiring fell sharply and the unemployment rate rose for the fourth straight month in a sign that higher interest rates may be taking a bigger toll on businesses and consumers.

Bank of Japan raises its key interest rate, aiming to curb yen’s slide against the dollar

The Bank of Japan has raised its key interest rate to 0.25% from a range of zero to about 0.1%, acting to curb the yen’s slide against the U.S. dollar.