Economy

FILE - In this May 4, 2018, file photo, a man walks past a branch of HSBC bank in Hong Kong. Europe's biggest bank has reported that its net profit fell 53% in 2019 to $6 billion. London-based HSBC, whose profit is mainly from Asia, said it plans to revamp its U.S. and European business and shed $100 billion in assets to improve its profitability. (AP Photo/Kin Cheung, File)
February 18, 2020 - 3:28 am
HSBC bank said Tuesday it will shed some 35,000 jobs as part of a deep overhaul to focus on faster-growing markets in Asia and better cope with a slew of global uncertainties. The interim chief executive, Noel Quinn, said the number of people employed by the bank would fall from 235,000 to 200,000...
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People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Feb. 18, 2020. Shares have fallen in Asia as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to cancel major events including the Beijing auto show. (AP Photo/Eugene Hoshiko)
February 18, 2020 - 12:56 am
BANGKOK (AP) — Shares slipped in Asia on Tuesday as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to postpone or cancel major events including the Beijing auto show. Signs suggest China may postpone its...
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A customer steps out of a Pier 1 Imports store which was having a closeout sale, Monday, Feb. 17, 2020, in Larchmont, N.Y. Home goods retailer Pier 1 Imports Inc. filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company, which was founded in 1962, has recently struggled with increased competition from online retailers such as Wayfair. (AP Photo/Julie Jacobson)
February 17, 2020 - 6:16 pm
Pier 1 Imports Inc. — the once-trendy supplier of home goods like papasan chairs and throw pillows — filed for bankruptcy protection Monday after years of sliding sales. The Fort Worth, Texas-based company has been struggling with increased competition from budget-friendly online retailers like...
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February 17, 2020 - 12:53 pm
Owen Bieber, who led the United Auto Workers union from the auto industry's dark days of the early 1980s to the prosperity of the mid-1990s, has died. He was 90. Neither as charismatic as his predecessor, Douglas Fraser, nor as confrontational as his successor, Stephen Yokich, the low-key Bieber...
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In this Feb. 12, 2020, photo, a worker disinfects a mall near an advertisement for a car in Beijing, China. Automakers are gradually reopening factories in China that were idled by anti-virus control. (AP Photo/Ng Han Guan)
February 17, 2020 - 4:49 am
BEIJING (AP) — Automakers are reopening factories in China that were idled by anti-virus controls as they try to reverse a sales slump in their biggest market. Local officials have orders from the ruling Communist Party to get businesses functioning again while still enforcing anti-disease curbs...
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Democratic presidential candidate and former New York City Mayor Michael Bloomberg is joined on stage by supporters during his campaign launch of "Mike for Black America," at the Buffalo Soldiers National Museum, Thursday, Feb. 13, 2020, in Houston. (AP Photo/David J. Phillip)
February 16, 2020 - 11:36 pm
CARSON CITY, Nev. (AP) — With the Nevada caucuses less than a week away, Democratic presidential candidates campaigning this weekend were fixated on a rival who wasn't contesting the state. Bernie Sanders, Joe Biden, Amy Klobuchar, Elizabeth Warren and Pete Buttigieg all targeted billionaire Mike...
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People walk past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Feb. 17, 2020. Markets are mixed in Asia, with Japan's benchmark slipping 0.8% after the government reported the economy contracted in the last quarter. (AP Photo/Vincent Yu)
February 16, 2020 - 10:30 pm
BANGKOK (AP) — Markets were mixed in Asia on Monday, with Japan's benchmark slipping 0.8% after the government reported the economy contracted 6.3% in annual terms in the last quarter. China's shares got a boost after the central bank stepped in to help the economy with a rate cut, extra buying of...
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FILE - In this May 10, 2019, file photo, a man walks in shade of a building as other people rest at a bench in Tokyo. The Japanese economy shrank at an annual pace of 6.3% in the October-December period, as growth got battered by typhoons and crimped consumer spending. The seasonally adjusted data released Monday, Feb. 17, 2020, by the Cabinet Office comes amid looming fears about the damage the regional economy is almost certain to suffer from the outbreak of a new virus that began in China late last year.(AP Photo/Eugene Hoshiko, File)
February 16, 2020 - 8:47 pm
TOKYO (AP) — The Japanese economy shrank at an annual pace of 6.3% last quarter as growth was battered by typhoons and crimped consumer spending. The seasonally adjusted economic data released Monday by the Cabinet Office comes amid looming fears about the economic damage expected from the new...
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February 16, 2020 - 11:44 am
BUDAPEST, Hungary (AP) — Hungary’s prime minister on Sunday declared the past decade as the most successful of Hungary’s past century, but also said the country was threatened by the climate crisis, continuing population decline and “sinister menaces gathering over the European economy.” During his...
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In this photo taken Tuesday, Feb. 11, 2020, a woman walks past Lunar New Year decor and shuttered bars at a retail district in Beijing, China. Millions of Chinese workers and entrepreneurs are bearing the rising costs of an anti-virus campaign that has shut down large sections of the economy. The government has imposed restrictions nationwide that have stalled travel and sales of real estate and autos. (AP Photo/Ng Han Guan)
February 15, 2020 - 8:28 pm
BEIJING (AP) — Real estate agent Du Xuekun’s sales usually jump after the Lunar New Year holiday. But this year, Du has been at home for a month with no income after vast swathes of China’s economy were shut down in a sweeping effort to contain a virus outbreak. Du, who lives in Jiaozhuo, near the...
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