Latest Recessions and depressions News
Red Lobster closes dozens of locations across the US just months after 'endless shrimp' losses
NEW YORK (AP) — Dozens of Red Lobster locations across the U.S. are on the chopping block. Restaurant liquidator TAGeX Brands announced this week that it would be auctioning off the equipment of over 50 Red Lobster locations that were recently closed as part of the seafood chain's...
Stock market today: Asian shares mixed in muted trading after Wall Street barely budges
TOKYO (AP) — Asian shares were mixed in muted trading Tuesday after U.S. stock indexes were little changed ahead of the release of inflation data. Japan's benchmark Nikkei 225 lost early gains and was trading less than 0.1% higher at 38,194.38. Australia's...
Argentina will get next installment of bailout as IMF praises Milei's austerity policies
BUENOS AIRES, Argentina (AP) — The International Monetary Fund, Argentina's biggest creditor, agreed Monday to release the next tranche of loans due under a bailout program, endorsing government austerity measures so severe they even surpass the terms of its $43 billion loan. The...
British economy rebounds strongly in first quarter of the year, ending 'technical recession'
LONDON (AP) — The British economy bounced back strongly in the first three months of the year, bringing to an end to what economists termed a “technical recession”, official figures showed Friday. The Office for National Statistics said the economy grew by 0.6% in the first...
Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
NEW YORK (AP) — Cracks are showing in one of the main pillars keeping the economy out of a recession: resilient spending by U.S. households. Consumer goods giants from PepsiCo to Kraft Heinz have described recently how the combination of high inflation and higher interest rates is...
Steward Health Care says it is selling the 30+ hospitals it operates nationwide
Steward Health Care said it plans to sell off all its hospitals after announcing this week that it filed for bankruptcy protection. The Dallas-based company, which operates more than 30 hospitals nationwide, said it does not expect any interruptions in its hospitals’ day-to-day...
A timeline of the collapse at FTX
FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its...
FTX will return money to most customers less than 2 years after catastrophic crypto collapse
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange...
Scrutiny of Everton's prospective buyer intensifies after airline collapse and New York fraud case
GENEVA (AP) — A grounded airline in Australia. A lawsuit in a New York federal court alleging fraud in connection to a $600 million loan. And angry soccer fans in England resisting a takeover of Premier League club Everton. These are troubled times for Miami-based 777 Partners, the...
Hospital operator Steward Health Care files for bankruptcy protection
BOSTON (AP) — Hospital operator Steward Health Care filed for bankruptcy protection early Monday morning, but pledged to maintain the eight hospitals it operates in Massachusetts. In a press release, company officials said Steward took the step as a necessary measure to allow the...
