Finance

It’s still the world’s “freest” economy, one of the biggest global financial centers and a scenic haven for tycoons and tourists, but the waves of protests rocking Hong Kong are exposing strains unlikely to dissipate as communist-ruled Beijing’s influence grows. The end of the former British colony’s 50-year grace period after China took control in […]

Shares were mostly higher in Asia on Friday after a turbulent day on Wall Street ended with the Dow Jones Industrial Average closing above 27,000 for the first time. Japan’s Nikkei 225 index rose 0.2% to 21,685.90 and the Hang Seng in Hong Kong added 0.2% to 28,477.83. The Shanghai Composite index also climbed 0.4%

The Latest on Federal Reserve Chairman Jerome Powell’s presentation of the Fed’s semi-annual monetary report to the Senate Banking Committee. (all times local): 11:40 a.m. Federal Reserve Chairman Jerome Powell says homebuilders are having a harder time building lower-cost housing because of higher tariffs and tougher immigration policies. “The homebuilders feel like they’ve been hit

Ford and Volkswagen are planning to unveil details about their budding alliance to build mobility services and autonomous and electric vehicles. Executives from both companies are planning to reveal details Friday morning. The two companies announced plans in January to collaborate on developing commercial vans and medium-sized pickup trucks while exploring electric and autonomous vehicles

The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records. The Treasury Department reported Thursday that the deficit for the current fiscal year through June is up 23.1% over the same period a year ago with receipts

Federal Reserve Chairman Jerome Powell, testifying for a second day before Congress, said Thursday that the economy is in a “very good place” despite headwinds and that the Fed is prepared to do what it can to “keep it there.” Powell’s comments before the Senate Banking Committee strengthened the message he had sent to a

U.S. long-term mortgage rates were mostly unchanged this week amid signals from the Federal Reserve that it is preparing to cut interest rates soon. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year mortgage stood at 3.75%, the same as the previous week. A year ago the rate stood at

An early rally on Wall Street that sent the Dow Jones Industrial Average above 27,000 for the first time lost much of its momentum Thursday afternoon. The S&P 500 edged lower, erasing the gains that had briefly propelled the benchmark index above 3,000 for the second day in a row. The Nasdaq composite also turned

President Donald Trump on Thursday accused China of “letting us down” by not promptly buying more U.S. farm products. “They have not been buying the agricultural products from our great Farmers that they said they would,” the president said on Twitter. “Hopefully, they will start soon.” After meeting with President Xi Jinping late last month,

A federal judge is threatening American Airlines mechanics with fines and other punishment if they carry out what American claims is an illegal work slowdown that’s causing flight cancelations. Interested in Airlines? Add Airlines as an interest to stay up to date on the latest Airlines news, video, and analysis from ABC News. The airline