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MONEY NEWS FROM THE ASSOCIATED PRESS

Money

  • China’s 2019 economic growth weakens amid trade war

    BEIJING (AP) — China’s economic growth sank to a new multi-decade low in 2019 as Beijing fought a tariff war with Washington, but forecasters said a U.S.-Chinese trade truce might help to revive consumer and business activity. The world’s second-largest economy grew by 6.1%, down from 2018’s 6.6%, already the lowest since 1990, government data […]
  • Truck slams into Illinois Starbucks; 4 sent to hospitals

    McHENRY, Ill. (AP) — A pickup truck slammed into an Illinois Starbucks on Thursday, injuring several people and causing massive damage to the coffee shop, police said. Patrick Polidori, public affairs officer for McHenry police, told The Associated Press that the driver and four people inside the cafe were injured. Fire and rescue personnel extracted […]
  • Judge halts California labor law as it relates to truckers

    SACRAMENTO, Calif. (AP) — A federal judge on Thursday indefinitely blocked a new California labor law from applying to more than 70,000 independent truckers, deciding that it is preempted by federal rules on interstate commerce. The state law that took effect Jan. 1 makes it harder for companies to classify workers as independent contractors instead […]
  • UN: Global economic growth in 2019 was lowest of the decade

    UNITED NATIONS (AP) — The global economy recorded its lowest growth of the decade in 2019, falling to 2.3% as a result of protracted trade disputes and a slowdown in domestic investment, the United Nations said Thursday. The U.N.’s annual report, the World Economic Situation and Prospects 2020, forecast a modest acceleration in global growth, […]
  • Judge threatens to force PG&E to hire more tree trimmers

    SAN FRANCISCO (AP) — A federal judge on Thursday threatened to force Pacific Gas & Electric to hire more tree trimmers to reduce the chances of its electrical grid igniting fires in Northern California and adhere to a requirement imposed after the utility’s natural gas lines blew up a neighborhood a decade ago. U.S. District […]
  • Trump to nominate Shelton, Waller to Federal Reserve

    WASHINGTON (AP) — President Donald Trump said Thursday that he intends to nominate two people to serve on the Federal Reserve’s Board of Governors, an institution he has repeatedly attacked for not cutting rates deeply enough. Both were first named by Trump on Twitter in July but their nominations hadn’t been formally announced. Trump said […]
  • Kansas says it’s better prepared now for aviation layoffs

    Kansas Labor Secretary Delia Garcia said Thursday that the state is better prepared to respond to layoffs stemming from the grounding of the troubled Boeing 737 Max than it was during the Great Recession, when it had to borrow money to prop up its unemployment insurance trust fund. That fund now has about $1 billion […]
  • US Treasury announces it will begin selling new 20-year bond

    WASHINGTON (AP) — The U.S. Treasury, faced with financing budget deficits topping $1 trillion annually, is introducing a new 20-year bond. The new 20-year bond was chosen after officials considered proposals for a 50-year or 100-year bond, Treasury said in a statement Thursday. It said the new 20-year bond would be made available to investors […]
  • Official says Phoenix airport ride-hailing fee is illegal

    PHOENIX (AP) — A new $4 fee on Uber and Lyft rides to and from the Phoenix airport is “very likely” unconstitutional, the state attorney general said Thursday, upping the ante in the showdown that has led the ride-hailing giants to threaten to abandon the airport service. The fees approved by the Phoenix City Council […]
  • How major US stock indexes fared Thursday

    Stocks closed broadly higher on Wall Street Thursday, pushing major indexes to more record highs. A batch of solid economic data injected more optimism into markets a day after the U.S. and China signed an initial trade deal. Technology companies powered the market’s gains as investors mostly focused on a mixed batch of corporate earnings […]