By KELVIN CHANAP Business Writer
HONG KONG (AP) - Asian stock markets sank Friday, weighed down by fears over the so-called U.S. "fiscal cliff" that investors see as a big threat to the economic recovery.
Japan's Nikkei 225 index fell 0.9 percent to 8,757.39 and Hong Kong's Hang Seng
By CHRISTOPHER S. RUGABERAP Economics Writer
WASHINGTON (AP) - Americans took out more student and auto loans in September to boost consumer borrowing to a record level. But they cut back on credit card borrowing, a sign many remain cautious about taking on high-interest debt.
By ANNE D'INNOCENZIOAP Retail Writer
NEW YORK (AP) - Macy's Inc. sent out a mixed message: It raised its annual profit guidance but told investors Wednesday that Superstorm Sandy would temper the start of the holiday season.
The department store chain's fourth-quarter profit
PRAGUE (AP) - The Czech government has survived a confidence vote linked to unpopular austerity measures.
In the 101-93 vote Wednesday, lawmakers approved a 1 percent increase in the sales tax on retail goods and a 7 percent income tax increase for the highest-earners. The measures aim to bring the
By SARAH DiLORENZOAP Business Writer
BRUSSELS (AP) - Europe's economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, as it downgraded next year's forecasts for the 27-country bloc.