Economic Indicators

The European Commission is recommending that legal action be taken against the Italy because it failed to respect EU debt rules last year and looks like doing so in coming years, too.

Unions and owner Ferrero say workers at the world's biggest Nutella factory have removed picket lines and are back to work after production after was brought to a near standstill in a dispute over salary negotiations.

Facing possible crippling tariffs U.S. President Donald Trump is threatening to impose on the United States' biggest trading partner, Mexican President Andrés Manuel López Obrador has responded with calm and calls for continued friendship, and avoided strong language that could cause the dispute to deteriorate.

Shares surged Wednesday in Asia following a rally on Wall Street spurred by signs the Federal Reserve is ready to cut interest rates to support the U.S. economy against risks from escalating trade wars.

Traders are predicting a 55.9 percent chance of an interest rate cut in July.

The lobby group for Britain's automotive industry says the country's new car market slid back further in May as consumer and business confidence continued to be affected by what it terms "underlying economic and political instability."

Amid the trade war with the United States, Chinese President Xi Jinping is expressing confidence in the resilience of the Chinese economy.

A closely watched survey shows that the eurozone economy picked up a little bit of steam in May to expand at a three-month high rate.

U.S. stocks headed broadly higher in early trading Tuesday on Wall Street after comments from Mexico's foreign minister injected some optimism into a developing trade dispute.

The Latest on President Donald Trump and tariffs on Mexico (all times local): 9:45 a.m.

Mexico says it thinks there's likely to be an agreement Wednesday with the United States that will avoid a 5% tariff on Mexican goods announced last week by President Donald Trump.

The Trump administration wants to ease rules on mining and prospecting on federal lands — and even offshore — in the name of national security.

Chairman Jerome Powell says the Federal Reserve is prepared to respond to the Trump administration's trade conflicts to protect the U.S. economic expansion if it decides that would be necessary.

Democratic presidential candidate Joe Biden is pitching a $5 trillion-plus climate action proposal that he says would lead the U.S. to net zero emissions of carbon pollution by 2050.

___ Poor Americans likely to be hit hardest by new US tariffs PHOENIX (AP) — The biggest victims of President Donald Trump's tariffs won't necessarily be Mexicans or Chinese.

The Dow Jones Industrial Average jumped more than 500 points Tuesday as investors welcomed signals that the Federal Reserve may cut interest rates if multiple U.S. trade conflicts threaten the nation's economic expansion.

Euro Pacific Capital CEO Peter Schiff says don't underestimate China and Mexico.

Dow Jones industrials gain 510 points after Fed signals it could cut interest rates if US trade conflicts slow economy.

The World Bank is downgrading its forecast for the global economy in light of trade conflicts, financial strains and unexpectedly sharp slowdowns in wealthier countries.

The latest on developments in financial markets (all times local): 9:35 a.m.