Latest Recessions and depressions News
Company linked to Alex Jones doubles offer to buy Infowars after failed bankruptcy auction
A company linked to conspiracy theorist Alex Jones is now offering over $7 million to buy his Infowars platforms, more than double what it proposed when it lost to The Onion satirical news outlet in a bankruptcy auction that was later voided by a judge, a lawyer in the case said Monday. ...
Puerto Rico's new governor appoints an energy czar to tackle the island's power crisis
SAN JUAN, Puerto Rico (AP) — Puerto Rico’s new governor appointed a so-called energy czar on Wednesday to help pull the U.S. territory out of a power-supply crisis. The nomination of Josué Colón comes days after a massive blackout hit the island, leaving nearly all its 3.2...
US Justice Department accuses six major landlords of scheming to keep rents high
DENVER (AP) — The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep Americans’ rents high by using both an algorithm to help set rents and privately sharing sensitive information with their competitors to boost profits. The lawsuit...
Massachusetts lawmakers approve bill to close loopholes in health care market
BOSTON (AP) — The Massachusetts Legislature approved a bill Monday aimed at closing loopholes in the state's health care market regulatory process exposed by the collapse of Steward Health Care. The bill is also designed to increase financial transparency by gathering more...
Zimbabwe's new currency woes hit traditional stores while illegal night bazaars flourish
HARARE, Zimbabwe (AP) — Batsirai Pabwe picked detergents, toothpaste, snacks and some pasta among several grocery items spread on the tarmac of a car parking space — an unorthodox night bazaar lit by cellphone flashlights and fluorescent lamps in Zimbabwe’s capital, Harare. ...
Scholz calls on Germans to unite in solidarity in a new year despite many crises
BERLIN (AP) — Chancellor Olaf Scholz called on Germany's 84 million residents to stick together despite the many global crises and wars, the country's ailing economy and a deadly Christmas market attack that shocked the nation. “Strength comes from solidarity. And we are a...
Value-seekers drove 2024's retail trends and dead ends
Value was in vogue in 2024. Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices. Well-heeled customers traded down to Walmart and Aldi. Diners opted for fast food or home...
Big Lots reaches deal to keep hundreds of US stores open
The discount chain Big Lots, which filed for bankruptcy protection in September, has reached a deal that will keep hundreds of its stores and distribution centers open. Big Lots said Friday it will be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed...
American consumers feeling less confident in December, Conference Board says
American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Analysts forecast a rise to a reading of 113.8. Consumers had been...
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
NEW YORK (AP) — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like...
