Latest Recessions and depressions News

Branson: Pound could be just a dollar in 'no-deal' Brexit

Jul. 11, 2019 10:35 AM EDT

LONDON (AP) — Virgin Group founder Richard Branson has warned that the pound's value would fall to that of the dollar if Britain leaves the European Union without a deal — a stark prediction that will fuel worries about the economic pressures facing the country. Traders see the possibility of a...

UK economy recovers in May, easing immediate recession fears

Jul. 10, 2019 7:26 AM EDT

LONDON (AP) — The British economy bounced back in May, official figures showed Wednesday, allaying some fears that the country could slip into recession ahead of the revised Brexit deadline. The Office for National Statistics said the economy grew a monthly 0.3% in May, largely because carmakers ramped up...

Pennsylvania touts stronger fiscal health, but clouds loom

Jul. 9, 2019 6:42 PM EDT

HARRISBURG, Pa. (AP) — Gov. Tom Wolf and state Treasurer Joe Torsella celebrated Tuesday with what they said will be Pennsylvania's largest deposit into its budgetary reserve account in nearly two decades. The expected $317 million comes after strong corporate and sales tax collections drove the state past...

H. Ross Perot rose from poverty to self-made billionaire

Jul. 9, 2019 5:51 PM EDT

DALLAS (AP) — H. Ross Perot rose from a childhood of Depression-era poverty to become a self-made billionaire who twice ran for president with a mixture of folksy sayings and simple solutions to America's problems. His 19% of the vote in 1992 stands among the best showings by an independent candidate in...

UK Tory contenders trade blows; Labour backs new Brexit vote

Jul. 9, 2019 4:58 PM EDT

LONDON (AP) — The two men vying to be Britain's next leader traded verbal blows in a televised debate Tuesday about who is more likely to break the country's Brexit deadlock and lead the U.K. out of the European Union. About 160,000 Conservative Party members are voting for a successor to Prime Minister...

Colorful self-made billionaire H. Ross Perot dies at 89

Jul. 9, 2019 3:48 PM EDT

DALLAS (AP) — H. Ross Perot, the colorful, self-made Texas billionaire who rose from a childhood of Depression-era poverty and twice mounted outsider campaigns for president, has died. He was 89. The cause of death was leukemia, a family spokesman said Tuesday. Perot, whose 19% of the vote in 1992 stands...

AP-NORC Poll: Many feeling vulnerable despite economic gains

Jul. 9, 2019 10:24 AM EDT

WASHINGTON (AP) — Americans are generally satisfied with their personal finances, but many lack confidence in their ability to afford retirement, an emergency expense or even their daily living costs. Roughly two-thirds, 67%, describe their financial situation as generally good, up slightly from 62% who...

Martin Charnin, Tony-winning 'Annie' lyricist, dies at 84

Jul. 7, 2019 7:00 PM EDT

NEW YORK (AP) — Martin Charnin, who made his Broadway debut playing a Jet in the original "West Side Story" and went on to become a Broadway director and a lyricist who won a Tony Award for the score of the eternal hit "Annie," has died. He was 84. He died Saturday at a White Plains, New York, hospital,...

Georgia's welfare rolls drop sharply in recent years

Jul. 7, 2019 11:32 AM EDT

ATLANTA (AP) — State records show the number of Georgia families receiving welfare benefits has dropped by more than two-thirds in the past 14 years. The numbers have decreased as Georgia has applied constant pressure to drive down the rolls, The Atlanta Journal-Constitution reported . The number of...

San Francisco to paint over historic George Washington mural

Jul. 4, 2019 7:22 PM EDT

SAN FRANCISCO (AP) — San Francisco will spend up to $600,000 to paint over historical artwork at a public school depicting the life of George Washington, a mural once seen as educational and innovative but now criticized as racist and degrading for its depiction of black and Native American people. The...