Latest Financial crisis News
London Irish becomes 3rd club banished from English rugby competitions amid financial crisis
LONDON (AP) — The financial crisis gripping English club rugby claimed another victim Tuesday when London Irish was suspended from the entire league structure for missing its latest deadline to pay staff and players. Worcester Warriors and Wasps have already been banished from the...
British government reduces stake in bailed-out bank NatWest to below 40%
LONDON (AP) — The British government has sold a further stake in one of the banks that was bailed out at the height of the global financial crisis in 2008, when the banking system was teetering on the edge of collapse. In a statement Monday, the Treasury said it had sold shares in...
Morgan Stanley's James Gorman, who arrived at the bank shortly before financial crisis, to retire
NEW YORK (AP) — Morgan Stanley's long-time CEO James Gorman will retire in the next 12 months, he said Friday at the bank's annual shareholder meeting. Gorman said the bank is looking at three senior internal candidates to be the investment bank's new top executive. Gorman said he...
IMF board approves $3 billion bailout for Ghana amid economic crisis
LONDON (AP) — The International Monetary Fund's executive board has approved a long-awaited $3 billion bailout for Ghana in hopes of combating the country’s economic crisis. The arrangement will allow for the immediate release of $600 million, with the remaining funds to be made...
Home Depot sees first annual sales decline in more than a decade as housing streak ebbs, rates jump
After years of explosive growth during the pandemic, Home Depot's revenue during the first quarter fell short of expectations and the company cut its profit and sales outlook for the year, sending shares lower at the opening bell. Home Depot on Tuesday projected its first decline in...
Americans' faith in banks low after failures: AP-NORC poll
WASHINGTON (AP) — Only 10% of U.S. adults say they have high confidence in the nation’s banks and other financial institutions, a new poll finds. That's down from the 22% who said they had high confidence in 2020. Following the collapse of Silicon Valley Bank this month, the poll...
