Economy

This photo Feb. 20, 2019, photo shows logos for credit cards in Zelienople, Pa. On Monday, July 8, the Federal Reserve releases its May report on consumer borrowing. (AP Photo/Keith Srakocic)
July 08, 2019 - 3:13 pm
WASHINGTON (AP) — U.S. consumers borrowed more on their credit cards in May and also took out more student and auto loans, a modest sign of economic health. The Federal Reserve says that consumer borrowing increased 5% that month, just below April's 5.2% rise. Total outstanding consumer debt, which...
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Greece's newly-elected prime minister Kyriakos Mitsotakis, waves as he walks shortly after his swearing-in ceremony at the Presidential Palace in Athens, Monday, July 8, 2019. Mitsotakis' New Democracy party won 39.8% of the vote, giving him 158 seats in the 300-member parliament, a comfortable governing majority. (AP Photo/Petros Giannakouris)
July 08, 2019 - 1:04 pm
ATHENS, Greece (AP) — The Latest on Greece's election of a new government (all times local): 7:45 p.m. Greece's new conservative prime minister has announced the members of his Cabinet less than a day after his party won a general election. Prime Minister Kyriakos Mitsotakis named Christos...
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A man walks past the Deutsche Bank sign in London, Monday, July, 8, 2019. Germany's struggling Deutsche Bank says it will cut 18,000 jobs by 2022, saying it is going “back to our roots” with a radical restructuring plan meant to focus the company on traditional strengths.(AP Photo/Natasha Livingstone)
July 08, 2019 - 12:25 pm
BERLIN (AP) — The radical and painful restructuring of Germany's Deutsche Bank, which is cutting 18,000 jobs, is the end of a long, failed attempt to compete with the global investment banking giants that left it overextended. The bank plan unveiled Sunday aims to go "back to our roots" by...
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A currency trader walks by the screens showing the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Monday, July 8, 2019. Asian stocks tumbled Monday after relatively strong U.S. employment data tempered hopes the Federal Reserve might cut interest rates. (AP Photo/Lee Jin-man)
July 08, 2019 - 8:45 am
LONDON (AP) — Global stock markets recovered their poise Monday after a big sell-off in Asia in the wake of unexpectedly strong U.S. employment data tempered hopes the Federal Reserve will aggressively cut interest rates. Fed leaders have indicated they are ready to cut rates to support economic...
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In this photo taken on Friday, July 5, 2019, Turkey's President Recep Tayyip Erdogan speaks during a meeting in Istanbul. Erdogan has fired the Central Bank Governor Murat Cetinkaya amid the country's economic downturn. Cetinkaya was replaced by Murat Uysal, the deputy governor, in a presidential decree published Saturday.(Presidential Press Service via AP, Pool)
July 08, 2019 - 6:46 am
ANKARA, Turkey (AP) — Turkey's currency fell sharply on Monday, reawakening concerns of another bout of financial jitters in the country, after President Recep Tayyip Erdogan fired the central bank governor, reportedly over disagreements on interest rate cuts. Murat Cetinkaya was replaced by Murat...
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South Korean President Moon Jae-in, right, speaks during a meeting with senior aides at the presidential Blue House in Seoul, South Korea, Monday, July 8, 2019. (Bae Jae-man/Yonhap via AP)
July 08, 2019 - 6:38 am
SEOUL, South Korea (AP) — South Korea's president said Monday the country is committed to finding a diplomatic solution to a bitter dispute over tightened Japanese control of exports of high-tech materials used by South Korean companies to produce semiconductors and displays. In a meeting with...
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July 08, 2019 - 3:15 am
BERLIN (AP) — German exports and industrial production picked up slightly in May, staging a very modest recovery after the previous month's disappointing data. Official statistics released Monday showed that exports were up 1.1% on the month after dropping 3.4% in April. Industrial production rose...
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A currency trader walks by the screens showing the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Monday, July 8, 2019. Asian stocks tumbled Monday after relatively strong U.S. employment data tempered hopes the Federal Reserve might cut interest rates. (AP Photo/Lee Jin-man)
July 07, 2019 - 11:38 pm
BEIJING (AP) — Asian stocks tumbled Monday after relatively strong U.S. employment data tempered hopes the Federal Reserve might cut interest rates. Benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all declined. Fed leaders have said they are ready to cut rates to support economic growth amid a...
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Greek opposition New Democracy conservative party leader Kyriakos Mitsotakis waves to his supporters after win in parliamentary elections at the New Democracy headquarters in Athens, on Sunday, July 7, 2019. Official results from nearly 60% of ballots counted showed the conservative New Democracy party of Kyriakos Mitsotakis winning comfortably with 39.7% compared to Tsipras' Syriza party with 31.5%. (AP Photo/Petros Giannakouris)
July 07, 2019 - 7:47 pm
ATHENS, Greece (AP) — Conservative opposition leader Kyriakos Mitsotakis comfortably won Greece's parliamentary elections Sunday, delivering a stinging blow to leftist Prime Minister Alexis Tsipras after a tumultuous four years in office as the country struggled through a crippling financial crisis...
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July 07, 2019 - 7:00 pm
NEW YORK (AP) — Martin Charnin, who made his Broadway debut playing a Jet in the original "West Side Story" and went on to become a Broadway director and a lyricist who won a Tony Award for the score of the eternal hit "Annie," has died. He was 84. He died Saturday at a White Plains, New York,...
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