Economy

President-elect Joe Biden speaks about the COVID-19 pandemic during an event at The Queen theater, Thursday, Jan. 14, 2021, in Wilmington, Del. (AP Photo/Matt Slocum)
January 15, 2021 - 1:44 pm
BALTIMORE (AP) — The $1.9 trillion rescue plan unveiled by President-elect Joe Biden offers the chance to sculpt the U.S. economy toward the Democrats’ liking: a $15 minimum wage, aid to poor families and federal dollars going to public schools. It’s an ambitious effort that would arrive after...
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A Wells Fargo office is shown, Wednesday, Jan. 13, 2021 in New York. Wells Fargo & Co. says its profit rose 4% to $2.99 billion in the fourth quarter of 2020. The bank, based in San Francisco, said Friday that it had earnings of 64 cents per share, compared with earnings of 60 cents a year earlier. (AP Photo/Mark Lennihan)
January 15, 2021 - 1:41 pm
CHARLOTTE, N.C. (AP) — The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. The financial performance of the big U.S. banks has improved from earlier in 2020,...
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A Wells Fargo office is shown, Wednesday, Jan. 13, 2021 in New York. Wells Fargo & Co. says its profit rose 4% to $2.99 billion in the fourth quarter of 2020. The bank, based in San Francisco, said Friday that it had earnings of 64 cents per share, compared with earnings of 60 cents a year earlier. (AP Photo/Mark Lennihan)
January 15, 2021 - 11:28 am
SILVER SPRING, Md. (AP) — Wells Fargo had its best quarter of 2020 as its profit rose 4% in the fourth quarter of a year defined by the coronavirus outbreak. The bank, based in San Francisco, said Friday that its earnings rose to $3 billion, or 64 cents per share, compared with earnings of $2.87...
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FILE - In this May 13, 2020, file photo, Ford Motor Co., line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. U.S. industrial production increased 0.4% in November with manufacturing receiving a boost from a rebound in output at auto plants after three months of declines. The Federal Reserve reported Tuesday, Dec. 15 that the November gain in industrial output followed an even stronger 0.9% increase in October. (AP Photo/Carlos Osorio, File)
January 15, 2021 - 10:02 am
SILVER SPRING, Md. (AP) — U.S. industrial production rose 1.6% in December, a third straight monthly gain, but remains below its pre-pandemic level. The December gain in industrial output followed a 0.5% increase in November and a 1% increase in October, the Federal Reserve reported Friday. Even...
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A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 15, 2021. Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. (AP Photo/Lee Jin-man)
January 15, 2021 - 9:46 am
NEW YORK (AP) — Stocks are off to a mostly weaker start on Wall Street, with the exception of several Big Tech stocks. The S&P 500 was off 0.4% in the first few minutes of trading Friday. It’s on track for its first weekly decline after two weeks of solid gains. More gains from technology...
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FILE - In this Dec. 12, 2019, file photo workers process chickens at the Lincoln Premium Poultry plant, Costco Wholesale's dedicated poultry supplier, in Fremont, Neb. U.S. wholesale prices rose 0.3% in August 2020, just half the July gain, as food and energy prices decline. The Labor Department said Thursday, Sept. 10 that the August advance in the producer price index — which measures inflation before it reaches consumers — followed a 0.6% surge in June which was the biggest monthly gain since October 2018. (AP Photo/Nati Harnik, File)
January 15, 2021 - 8:49 am
WASHINGTON (AP) — U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November...
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A sale sign is displayed near the entrance of a Hallmark store Tuesday, Jan. 12, 2021, in Orlando, Fla. Retail sales fell for a third straight month, as a surge in virus cases kept people away from stores and restaurants during the holiday shopping season. The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time since the spring.(AP Photo/John Raoux)
January 15, 2021 - 8:45 am
NEW YORK (AP) — Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the holiday shopping season. The report released Friday is yet another sign that the pandemic is slowing the U.S. economy. Last month, the country lost jobs for the first time...
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A Chase ATM is open, Wednesday, Jan. 13, 2021 in New York. JPMorgan Chase & Co., the nation’s largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firm’s investment bank division had a stellar quarter and the bank’s balance sheet improved despite the pandemic. (AP Photo/Mark Lennihan)
January 15, 2021 - 8:04 am
CHARLOTTE, N.C. (AP) — JPMorgan Chase & Co., the nation's largest bank by assets, said its fourth quarter profits jumped by 42% from a year earlier, as the firm's investment banking division had a stellar quarter and its balance sheet improved despite the pandemic. The New York-based bank said...
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A woman wearing a face covering walks past a shop window in London, Thursday, Jan. 14, 2021 during England's third national lockdown to curb the spread of coronavirus. (AP Photo/Kirsty Wigglesworth)
January 15, 2021 - 7:06 am
LONDON (AP) — The British economy looks set to fall back into recession after official figures on Friday showed that it shrank by 2.6% month-on-month in November, when much of the country was in a second coronavirus lockdown. The Office for National Statistics said that as a result of the fall, the...
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President-elect Joe Biden speaks during an event at The Queen theater in Wilmington, Del., Friday, Jan. 8, 2021, to announce key administration posts. (AP Photo/Susan Walsh)
January 15, 2021 - 1:34 am
WASHINGTON (AP) — President-elect Joe Biden already faces the daunting task of steering a newly announced $1.9 trillion coronavirus relief bill through a closely divided Congress as the pandemic and its economic fallout grow. Now Biden will have to do it with President Donald Trump’s impeachment...
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