Economic news

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Boeing reports first quarterly loss in nearly 7 years

Boeing, absorbing billions in write-downs related to two of its newest commercial jets and a military fuel tanker, reported its first quarterly loss in nearly seven years. Yet revenue for the Chicago aerospace giant rose 1 percent to $24.8 billion, and company shares rose steadily before the opening bell Wednesday. ...

FILE - In this Oct. 8, 2014, file photo, people walk to work on Wall Street beneath a statue of George Washington, in New York. Stocks moved higher in early trading Wednesday, July 27, 2016, led by gains in technology stocks after Apple soared on a strong earnings report. Investors are looking ahead to a decision on interest rates from the Federal Reserve, which wraps up a two-day policy meeting later in the day. (AP Photo/Mark Lennihan, File)

US stock indexes slip; Apple jumps on strong earnings

Stocks were moving mostly lower in late morning trading Wednesday as gains in technology stocks like Apple were offset by declines in consumer staples makers including Coca-Cola. Energy companies fell along with the price of crude oil. Investors were looking ahead to a decision on interest rates from the Federal ...

Egypt asks IMF for $12 billion loan amid struggling economy

Egypt is in the "final stages" of negotiating an agreement with the International Monetary Fund to secure a $12 billion loan over three years, while targeting more loans totaling $7 billion annually, according to a Cabinet statement. President Abdel-Fattah el-Sissi held a Cabinet meeting Wednesday to discuss economic developments, including ...

WTO chief: global trade not main culprit for lost US jobs

Global trade is not the main cause for the loss of manufacturing jobs in places like the United States and needs to be defended from its critics, the chief of the World Trade Organization said Wednesday. Director-General Roberto Azevedo rebuffed arguments made by some politicians around the world, such as ...

European Commissioner for Economic and Financial Affairs Pierre Moscovici addresses the media at EU headquarters in Brussels on Wednesday July 27, 2016. The European Union's executive has refrained from calling for heavy fines against Spain and Portugal over budgetary breaches over the past years and sought to set "new fiscal paths" for the two Iberian countries. (AP Photo/Geert Vanden Wijngaert)

EU Commission refrains from fining Spain, Portugal

The European Union's executive refrained Wednesday from calling for heavy fines against Spain and Portugal for breaching budget rules and sought instead to set "new fiscal paths" for the two countries. It gave both nations until Oct. 15 to find new measures to curb their budget deficits over the coming ...

FILE - This Tuesday, May 24, 2016, file photo shows a "Sold" sign in front of a house in Andover, Mass. On Wednesday, July 27, the National Association of Realtors releases its June report on pending home sales, which are seen as a barometer of future purchases. (AP Photo/Elise Amendola, File)

Pending US home sales improved slightly in June

The number of Americans who signed contracts to buy homes crept up in June, a possible indication that the recent growth in real estate sales is still on track. The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 0.2 percent last month to ...

Global stocks rise on Japan stimulus ahead of Fed statement

Global stocks rose Wednesday after Japanese Prime Minister Shinzo Abe announced plans for a 28 trillion-yen ($254 billion) stimulus package ahead of the latest policy statement from the U.S. Federal Reserve. KEEPING SCORE: In Europe, Britain's FTSE 100 rose 0.5 percent to 6,760 while France's CAC 40 gained 1.4 percent ...

Britain's Prime Minister Theresa May, arrives for a meeting with Irish Prime Minister Enda Kenny inside 10 Downing Street, London, ahead of the latest meetings on how Brexit will unfold, on Tuesday, July 26, 2016. (Stefan Rousseau/Pool via AP)

UK economy grew faster than expected in run-up to EU vote

Britain's economy grew faster than expected in the run-up to the vote to leave the European Union, official figures showed Wednesday — little consolation for a country that is already seeing business activity decline sharply as a result of the referendum's outcome. The Office for National Statistics said that the ...

AP EXPLAINS: GOP, Dems. look to revive Depression bank law

Well at least the Democrats and the Republicans agree on something at their conventions: They both want to revive a Depression-era bank law that was abolished more than 15 years ago. The platforms of both parties call for the reinstatement of the Glass-Steagall Act, a law that would lead to ...

Former President Bill Clinton gives his thumb up after the first day of the Democratic National Convention in Philadelphia , Monday, July 25, 2016. (AP Photo/Matt Rourke)

Bill Clinton tells a love story to make his case for Hillary

There have been millions of words, decades of video and reams of commentary devoted to their story. It's been dissected, defended and decried at kitchen tables and on cable news, in tabloids and classrooms. But on Tuesday night, as millions of voters watched and with the political stakes as high ...

Japan poised to pump up sluggish growth with new stimulus

Japan's government and central bank appear to be readying a fresh dose of economic stimulus to help revive stalling growth. Shares in Tokyo jumped Wednesday after the Fuji TV network reported Prime Minister Shinzo Abe planned to introduce a new economic stimulus package amounting to about 27 trillion yen ($254 ...

Republican presidential candidate Donald Trump speaks during a campaign rally, Monday, July 25, 2016, in Winston-Salem, N.C. (AP Photo/Evan Vucci)

The Latest: Clinton sees 'biggest crack' in glass ceiling

The Latest on the Democratic National Convention (all times EDT): 11:15 p.m. Hillary Clinton tells Democrats they've "just put the biggest crack in that glass ceiling" by nominating her for president. Clinton was speaking to the Democratic convention by satellite video, and offering this message to any little girls who ...

FILE - This Monday, July 6, 2015, file photo shows a sign for Wall Street carved into the side of a building in New York. Stocks were slightly higher in early trading on Tuesday, July 26, 2016, as investors monitor corporate earnings from the likes of Gilead, McDonald's, Texas Instruments and others. Slumping oil prices held the gains in check. (AP Photo/Mark Lennihan, File)

Asian stocks mostly higher ahead of Fed statement

Asian stocks were mixed on Wednesday ahead of the Federal Reserve's policy statement, as strong U.S. economic data raised questions over the likely course for interest rates. KEEPING SCORE: Japan's Nikkei 225 rose 2.0 percent to 16,702.55 and Australia's S&P;/ASX200 added 0.1 percent to 5,543.00. But Hong Kong's Hang Seng ...

Supporter for former Democratic Presidential candidate, Sen. Bernie Sanders, I-Vt., John Stanley from DeForest, Wis., yells as he and other Sanders supporters react during the first day of the Democratic National Convention in Philadelphia, Monday, July 25, 2016. (AP Photo/John Locher)

Favored by Obama, TPP deal draws ire at Dem, GOP conventions

It's 30 chapters long and almost nobody has read it, but the Trans-Pacific Partnership trade deal is the unlikely villain at both political conventions. In Philadelphia this week, opponents interrupted Democratic National Convention speakers with chants of "No TPP" and expressed relief that Bernie Sanders and Hillary Clinton opposed it. ...

IMF reaches staff-level accord with Moldova for $179M loan

The International Monetary Fund reached an agreement Tuesday with Moldova for a $179 million, 3-year loan arrangement conditional on the government carrying out reforms. The IMF said its staff members have reached a "staff-level agreement on an economic reform program" with Moldovan authorities to be supported by the credit facility. ...

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