Latest Recessions and depressions News
China hands PwC a 6-month ban and fine over audit of the collapsed developer Evergrande
HONG KONG (AP) — Chinese authorities have banned the accounting firm PwC for six months and fined it over 400 million yuan ($56.4 million) over its involvement in the audit of collapsed property developer Evergrande. The punishment is the heaviest yet for international accounting...
Senate committee to vote to hold Steward Health Care CEO in contempt
BOSTON (AP) — Members of a Senate committee looking into the Steward Health Care bankruptcy said they plan to adopt two resolutions next week to hold Steward CEO Ralph de la Torre in contempt — one for civil enforcement and another for certification to the United States Attorney for criminal...
Stock market today: Wall Street drifts as Oracle soars and banks and oil slump
NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Tuesday following several weeks of sharp swings. The S&P 500 rose 0.4% to pull within 3% of its record set in July. It flipped between small gains and losses through the day, but the moves were nothing like its careens...
Blinken visits Dominican Republic as talks with president focus on economy and Haiti's crisis
SANTO DOMINGO, Dominican Republic (AP) — The U.S. secretary of state and the leader of the Dominican Republic held private talks Friday on a range of issues, from human rights, economic prosperity and regional security. However, the crisis in violence-wrecked Haiti dominated the discussions. ...
Red Lobster says it will soon exit bankruptcy protection after judge approves seafood chain's sale
NEW YORK (AP) — After months of dozens of restaurant closings and headlines about “endless shrimp” woes, Red Lobster says it will soon exit from Chapter 11 bankruptcy protection. A U.S. bankruptcy judge on Thursday approved the casual seafood chain's reorganization plan, which...
Patients will suffer with bankrupt health care firm's closure of Massachusetts hospitals, staff say
AYER, Mass. (AP) — When Christina Hernon was 5, her throat swelled shut from an infection and her mother rushed her to a local Massachusetts hospital in the dead of night. She couldn't breathe, suffered a seizure and was near death when a doctor saved her by inserting a tube down her throat. ...
Inadequate inspections and lack of oversight cited in West Virginia fatal helicopter crash
CHARLESTON, W.Va. (AP) — Inadequate inspections by an operator and a lack of oversight by the Federal Aviation Administration were partly to blame for the crash of a Vietnam-era tourist helicopter that killed six people in West Virginia two years ago, according to a final report released Tuesday....
Sri Lanka's Dissanayake a strong contender for president with his alliance's focus on working class
COLOMBO, Sri Lanka (AP) — A political alliance centered on the working class has emerged as a strong contender in Sri Lanka's presidential race, announcing itself to be the agent of change that millions of people called for when an unprecedented economic crisis led to disillusionment with...
US settles with billionaire Carl Icahn for using company to secure personal loans worth billions
Billionaire Carl Icahn and his company were charged by U.S. regulators with failing to disclose personal loans worth billions of dollars that were secured using securities of Icahn Enterprises as collateral. Icahn Enterprises and Icahn have agreed to pay $1.5 million and $500,000 in...
Massachusetts governor says deals have been reached to keep some threatened hospitals open
BOSTON (AP) — Massachusetts Gov. Maura Healey announced Friday that deals have been reached in principle to transition operations at four hospitals operated by Steward Health Care to new operators. The Healey administration will take control of a fifth hospital through eminent...
