ECONOMY

Alan Blinder, former Federal Reserve vice chair, thinks that it's likely the U.S. will fall into a recession next year.

Sterling hit a two-year low versus the U.S. dollar following the GDP data as traders digested growing uncertainty about the U.K.'s economic outlook.

An EU ban on oil and gas from Russia would limit its ability to fight in Ukraine, Sergeii Marchenko says.

China on Monday posted better-than-expected GDP growth in the first quarter, though retail sales for March slumped amid ongoing Covid lockdowns on the mainland.

Though the economy may be the focus of November’s congressional elections, other divisive topics -- some new, some perennial -- will also vie for attention from voters. These so-called wedge issues are being fanned mostly by Republicans, who see little downside in taking on polarizing issues that might motivate conservative voters. The Supreme Court, with six of its nine seats filled by conservative justices appointed by Republicans, seems poised to stir things up even further with upcoming deci

The Biden White House is betting the U.S. economy is strong enough to withstand the threats to growth posed by inflation and the war in Ukraine.

Inflation is the topic of the month in our solutions journalism show, “Solutionaries.”

The US unemployment rate hit a pandemic-era low during the month of March, meaning more people got back into the workforce.

Experts warn just because the price of crude oil goes down, it doesn’t mean gas will.

The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates.

In a recent study, Relator.com says the average price surged nearly 20% the past year.

Leaders in the Town of Pulaski said there are changes coming to the area.

Here are facts and figures of the OECD’s plan and what it hopes to achieve.

Democratic leaders in Virginia are calling on Republican Gov. Glenn Youngkin to declare a state of emergency to activate the state's anti-price gouging law as gas prices reach record highs following Russian's invasion of Ukraine.

The popular breakfast food had sales over $9 billion in 2020 and then $8.66 billion in 2021, according to IRI, a market research firm in Chicago.

According to data from globalpetrolprices.com, 46 countries has gas prices that are $6 a gallon or more, 26 have prices that are at least $7 a gallon while nine countries have gas prices that are $8 a gallon or more.

Using the worlds stage, President Joe Biden voiced the Unites States’ strong support for the people of Ukraine and tough action that has been and will be taken against Russia during his first State of the Union address.

Tax havens, also known as offshore financial centers, are a country or jurisdiction that has minimal tax liabilities to foreign individuals or businesses.

Some futurists depict Michigan and the Great Lakes as “climate havens” that will lure people and businesses weary of worsening drought, wildfire, hurricanes and other disasters. Not so fast, skeptics say.

Tax filing season is here but so are the scammers looking to take your money.

Employers are expected to continue to pay above minimum wage because of labor shortages

Elizabeth Economy looks closely at Xi Jinping's push to make China the center of the world.

Economic activity jumped by 6.9% in the last three months of last year, beating forecasts.

The German government has cut its growth forecast for this year.

The German economy grew by 2.7% in 2021, despite another year of surging Covid-19 cases, pandemic-related restrictions and supply chain pressures.

You may be one of the many Roanoke City homeowners who got a property tax bill this week that was much higher than you expected.

Funding develops new and existing business-ready industrial sites.

How to prepare for the upcoming tax season and when you expect your refund.

Whether you’ve already booked holiday travel plans, or you’re waiting for the last minute to make sure there aren’t restrictions, there are certain things to keep in mind about which days will be best to travel, and what resources might be more scarce than in years past.

Prices rose 6.8% in the year to November with the cost of fuel, used cars and food rising fastest.

The British economy slowed down during the third quarter of the year as widespread supply chain problems hobbled the recovery from the coronavirus pandemic.

A large Russian island north of Japan will be a testing ground for Moscow’s efforts to reconcile its prized fossil fuel industry with the need to do something about climate change

October's job creation was strong in almost every sector, as hiring across industries helped the broader U.S. economy rebound from a late-summer lull.

Some good economic news for the Star City: a new bank is opening in the area.

Can free flights and rent lure the foreign workers back to Australia who quit when Covid arrived?

Yes, growth was weaker than forecast in the third quarter, but the latest GDP report also shows that the softness is temporary.

Americans are leaving their jobs in droves according to recent data released by the nation’s Labor Department.

The Consumer Price Index climbed 5.4 percent in September compared to this time last year. Experts say the inflation is a result of supply chain issues and a demand from the pandemic.

Tens of thousands of public service workers may now be eligible to have their student loan debt wiped clean.

Bedford County Fair organizers announced they're postponing the event due to COVID-19 safety precautions -- and that could impact the economy.

If the U.S. defaults on its debt for the first time in history, both parties warn of an economic catastrophe.

President Joe Biden spoke on leveling the playing field in our economy to bring down costs and ensure that the backbone of the country, the middle class, can finally get a break on Thursday at about 1:45 p.m.

Japan’s government says more than 50% of the population has been fully vaccinated.

The Taliban's hold over the country is not in dispute but it is facing challenges from women against its extreme version of sharia law and guerrilla fighters in Afghanistan's north.

Federal Reserve Chairman Jerome Powell said Tuesday that the U.S. economy has been permanently changed by the COVID pandemic and it is important that the central bank adapt to those changes. “We're not simply going back to the economy that we had before the pandemic,” Powell said at a Fed virtual town hall for educators and students. Powell said that, while it is not yet clear if the delta variant of COVID will have further impact on the economy, the country has already seen significant changes since the pandemic began shutting the country down in March 2020.

The three-day sales tax holiday begins Friday August 6, at 12:01 a.m. and runs through Sunday 11:59 p.m.

With more people keeping an eye out for used cars, now more than ever, the Better Business Bureau warns buyers to do their research whether you buy your car online or in-person.

Official figures show that the British economy rebounded further in May following another easing of lockdown restrictions, though the increase was about half that expected by economists.

Seeing the tail end of the coronavirus pandemic, the economy is still trying to make a comeback.

The Federal Reserve is reporting that that the U.S. economy grew at a somewhat faster pace in April and May despite disruptions that choked supplies to the nations manufacturers.

Golf is a notable Father’s Day pastime that’s not going anywhere any time soon.

Put the final touches on your resume and get dressed for success because Saturday May 15 more than 20 employers looking to hire will be in the same place at once.

Official figures show that the British economy contracted by 1.5% in the first quarter of 2021, a relatively modest contraction given that the country was in the midst of a strict lockdown to combat a second wave of the coronavirus.

The president spoke from the East Room in the White House on Monday afternoon

Economy expected to grow by 7.25% in 2021 as lockdown restrictions are eased, says Bank of England.

Polls show 80% of travelers say when they are fully vaccinated they are comfortable traveling.

It’s safe to say people are itching to get out of the house and have something fun on the calendar.

The economy rose 6.4% in the first quarter.

The economy rose 6.4% in the first quarter.

The U.S. recovery likely found its rhythm in the first three months of 2021, according to early forecasts of data to be released by the Bureau of Economic Analysis this morning. It appears likely all Covid-19-era losses will be recovered by the middle of this year.

CNBC's Jim Cramer on Monday advised that retail investors ignore talk of a potential market top with the economy in recovery mode.

There’s major economic development news in Franklin County as Virginia Furniture Market announces a $10 million expansion.

Fans aren’t the only ones excited, the businesses that support them are too.

Bedford County 4-H is inspiring kids to become young entrepreneurs through a new program. It’s called the Next Generation Youth Farmers Market.

The pandemic has battered the British economy, which has suffered its deepest recession in more than 300 years. (AP Photo/Matt Dunham)LONDON – Official figures show that the British economy ended 2020 on a stronger footing than previously thought but that it suffered a bigger than anticipated fall in output in the immediate aftermath of the first coronavirus lockdown. In its latest revisions for 2020 data, the Office for National Statistics said Wednesday that the British economy contracted by 19.5% during the second quarter, the first full quarter of lockdown. Overall, the agency said, the British economy ended 2020 9.8% smaller, slightly better than the previous estimate of 9.9%. The U.K. as a whole has had Europe’s deadliest coronavirus outbreak, with over 126,000 people having died after testing positive for COVID-19.

ALLEGHANY COUNTY, Va. – A local company is expanding to meet a growing demand. The Balchem Corporation is investing $5 million, adding six new jobs to its team in Covington over the next two years. This will double the amount of production for animal nutrition and health markets worldwide. Balchem opened its manufacturing site in Alleghany County in 2013.

A Virginia Tech workshop is putting the spotlight on racial inequities in our food systems, from who is growing your food to how to access it. The Virginia Tech Center for Food Systems and Community Transformation and R.E.A.L. (Racial Equity in Agriculture Lab) are hosting “Building Racial Equity in the Food System: From Individual Anti-Racism to Dismantling Institutional Systems” Wednesday, March 31. Niewolny is the associate professor of Virginia Tech’s Department of Agriculture Leadership and Community Education as well as the director of Virginia Tech’s Center for Food Systems and Community Transformation. The workshop is building from the Racial Justice in the Food System series the center hosted in summer 2020.

Roanoke, Va. – Cocktails to-go are not leaving anytime soon. Seeing a decline in sales of about 73%, the co-owner of Fortunato, John Powell, feels the hard hit of the coronavirus pandemic. Known for their fancy dining, cocktails to-go helps keep Fortunato and Powell’s other restaurant, Lucky, afloat. Just like the downtown Roanoke taco restaurant, Tuco’s Taqueria Garaje. JoJo Soprano with Tuco’s Taqueria Garaje said 60% of their business comes from to-go sales.

Pedestrians walk outside the New York Stock Exchange in the U.S. The U.S. economy is recovering from the Covid-19 recession, but some economic "scarring" may take a long time to heal, said Richmond Federal Reserve Bank President Thomas Barkin. Economic scarring refers to damage left behind by crises that will suppress growth prospects over the medium or long term. "I'm hopeful we're on the brink of completing this recovery," Barkin said Monday at the Credit Suisse Asian Investment Conference that's being held virtually this year. The U.S. economy contracted by 3.5% in 2020 compared to a year ago, estimated the Bureau of Economic Analysis.

ROANOKE, Va. – It’s officially tournament time, and Virginians have the chance to watch the college basketball tournament in a different way this year. This is the first year Virginians can place bets on the tournament on sportsbooks such as DraftKings. “Virginia residents can now do what Nevada residents have been doing for fifty years,” said Johnny Avello of DraftKings. We made the odds and put up the offerings, and now it’s game time.”Avello said tourney time is the busiest time of year for sportsbooks, even more so than the Super Bowl. “The Super Bowl would be the biggest one-day event, but since this tournament expands over the course of 10 days, it’s the biggest, and certainly the most exciting,” Avello said.

DANVILLE, Va. – Danville’s Caesars Entertainment Complex is still years away from opening, but the voters’ bet on the casino is already paying off. The city’s proposed budget has funding for various improvements but without the need for a tax increase. Neither one is popular,” said Danville city manager Ken Larking. The budget also includes $2.4 million to build an updated running track at George Washington High School. The budget still has to be approved by the city council, which has to happen by the end of June.

Lightfoot’s plan created a six-month payment plan that reduces required down payments and gives those with ticket debt more time to pay. The plan also allowed people to request a 24-hour extension to pay their fines in full or get on a payment plan after their vehicles are locked with a Denver boot, though the plan does not ban use of the controversial device that has been the bane of many motorists’ existence.

Without stimulus, employment might not reach pre-pandemic level until 2024 New analysis from the Congressional Budget Office predicts the U.S. economy will return to its pre-pandemic peak in the middle of 2021, but the number of people employed won't return to previous levels until 2024. Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, joins CBSN's "Red & Blue" host Elaine Quijano to discuss what she thinks the federal government should do to aid the economy.

Militias take aim at gun laws: "It's about shooting tyrants in the face"

Militias take aim at gun laws: "It's about shooting tyrants in the face"

The gain came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. "It's obviously good news that the economy bounced back in the third quarter," said Eric Winograd, senior economist at AllianceBernstein. "There's still a lot of work to do here and the pace of improvement ... is going to slow. That is part of the reason that the pace of growth is going to slow from here." The economy has been in a technical recession since February, as first-quarter growth declined at a 5% pace.

The International Monetary Fund on Tuesday turned slightly more positive on the global economy for this year, but warned of a "long, uneven and uncertain" recovery. The global economy is now projected to contract by 4.4% in 2020 — an upward revision from an estimate of -4.9% made in June. The IMF's projection assumes that social distancing due to the coronavirus pandemic will continue into 2021, and that local transmission will fall everywhere by the end of 2022. However, it warned that the coronavirus crisis is far from over. The IMF projected "only limited progress" going forward and cut its GDP (gross domestic product) growth expectations for next year to 5.2%, from an estimate of 5.4% made in June.

China, the world's second largest economy, is under threat as the pandemic wipes out jobs and slows productivity and growth. But even with the economic setback, that's not stopping Beijing from doubling down on its geopolitical agenda. China could be using diplomatic outreach, while skirting any responsibility for the crisis, as a way to move forward with its geopolitical plans, Economy said. I think the Trump administration will be looking to China to buy American, to fulfill the promises that it made," she said. In the meantime, the People's Republic of China has rolled out significant measures to offset the economic impact of the pandemic.

The economy is the theme on Day 2 of the RNC; Yahoo saw profits plunge 64%; and Nintendo doubled its market cap thanks to "Pokemon Go." These headlines and more from CBS MoneyWatch.

The economy is improving, so why are Americans feeling so down? Steady job-creation this year has failed to quell people's anxiety about their financial prospects and the broader direction of the economy. CBS News' Lauren Lyster reports.

Will the economy change much during the year's second half? The economy contracted nearly three percent during the first quarter of the year. CBS News business analyst Jill Schlesinger explains what to expect in the second half of the year.

U.S. economy shrinks for first time in three years The harsh weather this past winter is getting much of the blame for a slowdown in the economy, but most economists believe it sets the economy up for a strong rebound this quarter. Anthony Mason reports.