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MONEY NEWS FROM THE ASSOCIATED PRESS

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  • IMF: Vaccines will power 5.5% global economic growth in 2021

    WASHINGTON (AP) — The spread of COVID-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund forecast Tuesday. After sinking 3.5% in 2020, the worst year since World War II, the global economy will grow 5.5% this year, the 190-country lending organization predicted. The new figure for 2021 is an […]
  • Consumer financial-hardship agreements slow but remain high

    Credit reporting agency TransUnion has found that nearly 3% of common consumer debts were in financial-hardship status at the end of 2020, illustrating that many Americans are struggling to get by financially as the pandemic wears on. While the latest number is down from a peak almost 5% in spring, it’s still far above the […]
  • UK eyes quarantine hotels for travelers to curb variants

    LONDON (AP) — Britain appears ready to order some travelers arriving from abroad to isolate in hotels at their own expense in an attempt by the government to stop the importation of new virus variants. Vaccines Minister Nadhim Zahawi said there would be an announcement Tuesday on plans for tighter border measures. The BBC reported […]
  • American Express 4Q profit fell 15% on virus impact

    NEW YORK (AP) — American Express Co. says its fourth-quarter net income fell 15% to $1.44 billion as the coronavirus pandemic continued to impact its bottom line. On a per-share basis, the New York-based company said Tuesday that it had net income of $1.76, down from $2.03 per share a year earlier. The results surpassed […]
  • J&J 4Q sales rise despite pandemic, but charges cut profits

    A big jump in prescription drug sales boosted fourth-quarter sales at Johnson & Johnson, but profits dove 57% due to higher research spending and one-time charges totaling $2.4 billion. It still beat Wall Street expectations, and shares added $3.13 to $169 in premarket trading Tuesday. J&J’s report didn’t give any updates on its coronavirus research. […]
  • Millennial Money: 3 things to know if you’re new to gig work

    Shutdowns, layoffs and salary cuts brought on by the coronavirus pandemic have left millions of Americans searching for new sources of income. Those who’ve recently turned to gig work may be weeks away from a financial surprise in the form of unexpected tax bills and insurance coverage fine print. “These are the two key items […]
  • EU urges US to draft joint rule book to rein in tech giants

    BRUSSELS (AP) — The European Union on Tuesday called on U.S. President Joe Biden to help draw up a common rule book to rein in the power of big tech companies like Facebook and Twitter and combat the spread of fake news that is eating away at Western democracies. In a speech to the Davos […]
  • EU urges US to draft joint rule book to rein in tech giants

    BRUSSELS (AP) — The European Union on Tuesday called on U.S. President Joe Biden to help draw up a common rule book to rein in the power of big tech companies like Facebook and Twitter and combat the spread of fake news that is eating away at Western democracies. In a speech to the Davos […]
  • EU demands that vaccine makers honor their commitments

    BRUSSELS (AP) — The European Union on Tuesday warned pharmaceutical giants that develop coronavirus vaccines to honor their contractual obligations after slow deliveries of shots from two companies hampered the bloc’s vaunted vaccine rollout in several nations. The bloc already lashed out Monday at pharmaceutical company AstraZeneca, accusing it of failing to guarantee the delivery […]
  • EU demands that vaccine makers honor their commitments

    BRUSSELS (AP) — The European Union on Tuesday warned pharmaceutical giants that develop coronavirus vaccines to honor their contractual obligations after slow deliveries of shots from two companies hampered the bloc’s vaunted vaccine rollout in several nations. The bloc already lashed out Monday at pharmaceutical company AstraZeneca, accusing it of failing to guarantee the delivery […]