Latest Financial crisis News

FILE - In this May 8, 2019 file photo, then Federal Trade Commission commissioner Rohit Chopra testifies during a House Energy and Commerce subcommittee hearing on Capitol Hill in Washington. President-elect Joe Biden is set to nominate Rohit Chopra as the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. (AP Photo/Susan Walsh)

Biden picks Chopra, Gensler for financial oversight roles

Jan. 18, 2021 5:42 PM EST

WASHINGTON (AP) — President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, now a commissioner at the Federal Trade Commission, helped launch...

Premier Giuseppe Conte delivers his speech at the lower chamber of Parliament, in Rome, Monday, Jan. 18, 2021. Conte fights for his political life with an address aimed at shoring up support for his government, which has come under fire from former Premier Matteo Renzi's tiny but key Italia Viva (Italy Alive) party over plans to relaunch the pandemic-ravaged economy. (AP Photo/Alessandra Tarantino, pool)

Italy: Conte clears hurdle to retain power, bigger one ahead

Jan. 18, 2021 3:31 PM EST

ROME (AP) — Italian Premier Giuseppe Conte won a crucial vote in Parliament's lower house Monday night after a coalition defector's lawmakers abstained in the balloting, but he must clear a much tougher hurdle less than 24 hours later in the Senate to hold on to power. Lawmakers in the Chamber of Deputies...

FILE - In this Oct.11, 2009 file photo, then Tunisian President Zine El Abidine Ben Ali waves from his car at a campaign rally in Rades, outside Tunis.  Swiss authorities said Monday Jan. 18, 2021, they are preparing to lift a freeze on tens of millions of dollars’ worth of assets linked to former Tunisian President Zine El Abidine Ben Ali, who fled with his family to Saudi Arabia in 2011 and died in 2019. (AP Photo/Hassene Dridi, File)

Swiss to lift freeze on millions linked to ex-Tunisia leader

Jan. 18, 2021 2:02 PM EST

GENEVA (AP) — Swiss authorities are preparing to lift a freeze on tens of millions of dollars’ worth of assets linked to former Tunisian President Zine El Abidine Ben Ali, a decade after the longtime autocrat was driven from power in an uprising that set off the so-called “Arab Spring”...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Jan. 18, 2021. Shares fell Monday across most of Asia following a retreat on Wall Street, but benchmarks in Hong Kong and Shanghai rose after data showed the Chinese economy grew a solid 2.3% in 2020. (AP Photo/Vincent Yu)

World shares subdued despite strong growth data from China

Jan. 18, 2021 12:06 PM EST

Stock markets got off to a slow start for the week despite news that the Chinese economy grew 2.3% in 2020 after a sharp contraction early in the year. Shares fell in London and Tokyo on Monday but advanced in Hong Kong, Paris and Shanghai. Most U.S. markets are closed for a national holiday. Investors appear to...

FILE -- This May 2, 2019 file photo shows lawmakers meet on the floor of the state House of Representatives at the Hawaii State Capitol in Honolulu. Cut spending, raise taxes, or perhaps both. Hawaii lawmakers face tough choices as they convene a new legislative session this week amid a pandemic that has pummeled tourism, the state's biggest industry, and depleted tax revenue. Lawmakers expect to spend time addressing how to spend federal funds allocated to help Hawaii test for the coronavirus, distribute vaccines, and bolster hospitals. They'll also consider how to help Hawaii's economy recover from the public health crisis. (AP Photo/Audrey McAvoy, File)

Hawaii lawmakers face tough choices amid pandemic recession

Jan. 18, 2021 9:04 AM EST

HONOLULU (AP) — Cut spending, raise taxes or perhaps both. Hawaii lawmakers face tough choices as they convene a new legislative session this week amid a pandemic that has pummeled tourism, the state's biggest industry, and depleted tax revenue. Lawmakers expect to spend time addressing how to spend...

Violent youth protests hit Tunisia amid economic turmoil

Jan. 17, 2021 6:05 AM EST

TUNIS, Tunisia (AP) — Police used tear gas to disperse violent protests led by disgruntled youths in several Tunisian cities overnight, including in the capital of Tunis and in the seaside city of Sousse. Tunisians in general are angry that the North African country is on the verge of bankruptcy and has...

FILE - This images shows a depiction of Abraham Lincoln taking the oath of office as the 16th president of the United States administered by Chief Justice Roger B. Taney in front of the U.S. Capitol in Washington, on March 4, 1861. Historians cite the first inaugural speeches of Thomas Jefferson and Abraham Lincoln as possible parallels for Joe Biden, who has said his goal is to “restore the soul” of the country even as millions baselessly insist incumbent Donald Trump was the winner. (AP Photo, File)

Unity has long been a theme, and anxiety, for new presidents

Jan. 15, 2021 11:47 AM EST

NEW YORK (AP) — When Joe Biden addresses the country for the first time as president, his inaugural speech is likely to echo calls for unity that predecessors have invoked since the first time George Washington was sworn in. Unity has since been a theme, and an anxiety, for many incoming presidents, who...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 15, 2021. Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. (AP Photo/Lee Jin-man)

Asian shares mixed following Biden speech, Wall St retreat

Jan. 14, 2021 11:08 PM EST

Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...

Vermont State College employees offer alternative solutions

Jan. 14, 2021 5:47 PM EST

MONTPELIER, Vt. (AP) — A group of Vermont State College employees has suggested streamlining upper-level administrative positions to save the system $7 million as an alternative solution to the system’s financial woes. The system was thrust into financial crisis last year after decades of...

Massachusetts offering COVID-19 grants to small businesses

Jan. 14, 2021 5:29 PM EST

BOSTON (AP) — Massachusetts is highlighting efforts to help small businesses survive the economic turmoil they have suffered because of the coronavirus pandemic. This week, nearly 1,600 businesses received grants totaling $78.6 million through a state COVID-19 business grant program. It’s the third...