Economy

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Japan loses spot as world's third-largest economy, slips into recession

By Yuri Kageyama, Associated Press

The government reported the economy shrank at an annual rate of 0.4% in October to December, though it grew 1.9% for all of 2023. Japan's economy was the 2nd largest until 2010, when it was overtaken by China's.

Proposed TikTok ban for children fails in Virginia's Legislature

By Sarah Rankin, Associated Press

Lawmakers questioned why the General Assembly should single out one company at a time of rising concern from parents and lawmakers about the effect of social media on youth.

U.S. inflation sees slight decline but remains above Fed target

By Christopher Rugaber, Associated Press

The costs of physical goods, including clothing, used cars and prescription drugs, fell for a third straight month. Lower prices for goods are the key driver that is cooling inflation.

WATCH: White House holds briefing as consumer inflation continues to steadily lower

By Mary Clare Jalonick, Associated Press

Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control.

Super Bowl bets placed online surged this year, verification company says

By Wayne Parry, Associated Press

Data from GeoComply shows the number of verification checks it carried out over the weekend increased by more than 22 percent from last year.

Farmers in Italy, Spain and Poland protest over European Union policies

By Ciarán Giles, Monika Scislowska, Associated Press

The actions follow similar ones in other EU member nations in recent weeks with farmers complaining that the 27-nation bloc's environmental and other policies are a financial burden and make their products more expensive than non-EU imports.

Inflation is nearly back to 2 percent. So why isn't the Federal Reserve ready to cut rates?

By Christopher Rugaber, Associated Press

Inflation, as measured by its preferred gauge, rose in the second half of 2023 at an annual rate of about 2 percent — the Fed's target level.

More Republicans support spending on child care, saying it's an economic issue

By Moriah Balingit, Associated Press

As federal pandemic aid dries up, Republican state lawmakers are embracing plans to support child care as a workforce issue — and even making it central to their policy agendas.

DEA reverses decision stripping drug distributor of licenses for fueling opioid crisis

By Joshua Goodman, Jim Mustian, Associated Press

As part of the settlement announced Wednesday, Morris & Dickson Co. agreed to admit wrongdoing, comply with heightened reporting requirements and surrender one of its two certificates of registration with the DEA.

Thousands of Spanish farmers stage a 2nd day of tractor protests over EU policies

By Ciarán Giles, Raf Cassert, Associated Press

Spanish farmers blocked highways and caused traffic jams to demand changes in European Union farming policies. They are also calling for more funds and measures to combat production cost hikes and severe drought.