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Omicron leaves Germany on brink of recession as growth dips

FRANKFURT, Germany (AP) — The risk of recession is looming for Germany after Europe’s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COV...

UK raises interest rates as central banks focus on inflation

LONDON (AP) — The United Kingdom's central bank on Thursday became the first in a major advanced economy to raise interest rates since the coronavirus pandemic began, as banks controlling monetary pol...

Highlights of what was agreed to at the G-20 summit in Rome

ROME (AP) — Leaders of the Group of 20 countries haggled for two days in Rome over steps to tackle climate change and a pandemic recovery that is diverging between rich and poor countries. Climate cha...

German candidates clash over tax, minimum wage in close race

FRANKFURT, Germany (AP) — The three candidates bidding to succeed Angela Merkel as German chancellor clashed over taxes and pocketbook issues in a third televised debate Sunday a week before the elect...

EU unveils tough climate rules, eyes tax on foreign firms

BRUSSELS (AP) — The European Union unveiled sweeping new legislation Wednesday to help meet its pledge to cut emissions of the gases that cause global warming by 55% over this decade, including a cont...

OPEC oil alliance at impasse between Saudi Arabia and UAE

DUBAI, United Arab Emirates (AP) — Talks among members of the OPEC cartel and allied oil producing countries broke off Monday in the midst of a standoff with the United Arab Emirates over production l...

Automakers embrace electric vehicles. But what about buyers?

DETROIT (AP) — The world’s major automakers have made something abundantly clear: They believe electric vehicles will dominate their industry in the years ahead. Yet for that to hap...

Draghi brings market savvy, gravitas to tame Italy's crises

MILAN (AP) — The former European Central Bank chief credited with helping to save the euro has now been tapped to lead Italy, the eurozone's third-largest economy, out of the pandemic and the worst re...

Top central bankers: Economy needs help despite vaccine news

FRANKFURT, Germany (AP) — Three of the globe's top central banks said the world economy continues to need help despite news of progress toward a COVID-19 vaccine, with U.S. Federal Reserve Chair Jerom...

Hard hit by virus, airlines push for tests over quarantines

FRANKFURT, Germany (AP) — What will it take to get people flying again? International air traffic is down 92% this year as travelers worry about catching COVID-19 and government travel bans and quaran...

Unemployment marches higher in Europe amid pandemic

FRANKFURT, Germany (AP) — Unemployment rose for a fifth straight month in Europe in August amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus...

Eurozone unemployment spike held down by support schemes

FRANKFURT, Germany (AP) — The unemployment rate across the 19 countries that use the euro currency rose modestly to 7.9% in July, official figures showed Tuesday. The number of people losing their job...

Virus pandemic reshaping air travel as carriers struggle

In a bid to survive, airlines are desperately trying to convince a wary public that measures like mandatory face masks and hospital-grade air filters make sitting in a plane safer than many other indo...

Air travel expected to not recover before 2024

FRANKFURT, Germany (AP) — Global air travel is recovering more slowly than expected and will take until until 2024 to return to pre-pandemic levels, the trade association for the airline industry said...

European Central Bank keeps monetary stimulus on track

FRANKFURT, Germany (AP) — The European Central Bank has left its monetary stimulus programs unchanged ahead of a key meeting of EU leaders on a recovery plan meant to help the economy bounce back from...