Latest Financial crisis News

Republicans point to inflation in bid to retake Congress

Jun. 18, 2021 10:43 AM EDT

WASHINGTON (AP) — Gas prices have whizzed past $3 per gallon in much of the nation. The cost of used cars and new furniture, airline tickets, department store blouses, ground beef and a Chipotle burrito are on the rise, too. Many economists say the price increases are...

Big diamond found in Botswana, could be world's 3rd largest

Jun. 17, 2021 13:19 PM EDT

GABORONE, Botswana (AP) — A huge diamond weighing more than 1,000 carats, which could be the third-largest mined in history, has been discovered in the southern African country of Botswana. The high-quality gemstone weighing 1,098.3 carats was unearthed earlier this...

Lebanon workers stage ​general strike over escalating crises

Jun. 17, 2021 09:24 AM EDT

BEIRUT (AP) — Shops, government offices, businesses and banks shuttered their doors in Lebanon on Thursday, as part of a general strike to protest deteriorating economic conditions and press for a government to deal with the worsening political and economic crises. The...

Lebanon's crisis threatens one of its few unifiers, the army

Jun. 16, 2021 06:14 AM EDT

BEIRUT (AP) — Since the civil war, through wars with Israel, militant bombings and domestic turmoil, Lebanese have considered their military as an anchor for stability, one of the only institutions standing above the country’s divisions. But the military is now...

Charitable giving in the U.S. reaches all-time high in 2020

Jun. 15, 2021 09:13 AM EDT

Galvanized by the racial justice protests and the coronavirus pandemic, charitable giving in the United States reached a record $471 billion in 2020, according to a report released Tuesday that offers a comprehensive look at American philanthropy. The Giving USA report...

Analysis: Subdued Iran vote will still impact wider Mideast

Jun. 15, 2021 02:11 AM EDT

DUBAI, United Arab Emirates (AP) — Iran's presidential election on Friday, though likely more a coronation for a hard-line candidate long cultivated by Supreme Leader Ayatollah Ali Khamenei, still carries implications for a wider Middle East already roiled by years of tensions between...

Hawaii bankruptcies drop as economy recovers from slowdown

Jun. 14, 2021 16:33 PM EDT

HONOLULU (AP) — Hawaii bankruptcies dropped to their lowest level for the month of May in 15 years as the economy claws out of a coronavirus pandemic-induced slowdown. U.S. Bankruptcy Court data shows there were 100 cases in May, down 10.7% from 112 during the same...

Lebanon's currency reaches new low as crisis deepens

Jun. 13, 2021 22:39 PM EDT

BEIRUT (AP) — Lebanon’s currency hit a new low on Sunday, as the country's economic and political crisis worsened with no apparent solutions in the near future. The currency has lost more than 90% of its value since October 2019, when anti-government protests erupted....

G-7 pledge to share, but jostle for ground in the sandbox

Jun. 11, 2021 19:29 PM EDT

CARBIS BAY, England (AP) — Group of Seven leaders brought pledges to share vaccine doses and make a fairer global economy Friday to a seaside summit in England, where British Prime Minister Boris Johnson said the coronavirus pandemic should not be allowed to leave a “lasting scar” on...

Pharmacies close doors over shortages in crises-hit Lebanon

Jun. 11, 2021 11:41 AM EDT

BEIRUT (AP) — Pharmacies across Lebanon shuttered their doors on Friday to protest severe shortages of medicines as motorists lined up for hours outside gas stations since the crack of dawn. The two-day strike called by pharmacists over lack of supplies, including...