Latest Recessions and depressions News

President of European Central Bank Christine Lagarde smiles prior to a press conference following a meeting of the governing council in Frankfurt, Germany, Thursday, Jan. 23, 2020. (AP Photo/Michael Probst)

European Central Bank holds rates, launches policy review

Jan. 23, 2020 11:54 AM EST

FRANKFURT, Germany (AP) — The European Central Bank has decided to launch a top-to-bottom review of how it steers the economy in the 19 countries that use the euro currency. The review, the first since the global financial crisis, could include tweaking the bank's goal for inflation and finding ways to...

Rhode Island home values exceed prerecession prices

Jan. 22, 2020 8:52 PM EST

PROVIDENCE, R.I. (AP) — The median price of a single-family home in Rhode Island has exceeded $280,000 for the first time since before the Great Recession. Data released by the Rhode Island Association of Realtors on Wednesday showed the median sales price of a single-family home sold in 2019 totaled...

In this Monday, Jan. 20, 2020 image, Lizzie Chimiugak, right, gets a hug from her granddaughter Janet Lawrence at her home in Toksook Bay, Alaska. Chimiugak, who turned 90 years old on Monday, is scheduled to be the first person counted in the 2020 U.S. Census on Tuesday. (AP Photo/Gregory Bull)

At 90, Alaska Native woman is 1st counted in US Census

Jan. 21, 2020 8:34 PM EST

TOKSOOK BAY, Alaska (AP) — Lizzie Chimiugak has lived for 90 years in the windswept western wilds of Alaska, born to a nomadic family who lived in mud homes and followed where the good hunting and fishing led. Her home now is an outpost on the Bering Sea, Toksook Bay, and on Tuesday she became the first...

ARCHIVO - En imagen de archivo del 3 de octubre de 2019, los fuselajes del Boeing 737 MAX, fabricados por Spirit Aerosystems en Wichita, Kansas, se encuentran cubiertos pr lonas cerca de la fábrica. (Travis Heying/The Wichita Eagle vía AP, archivo)

Kansas says it's better prepared now for aviation layoffs

Jan. 16, 2020 6:31 PM EST

Kansas Labor Secretary Delia Garcia said Thursday that the state is better prepared to respond to layoffs stemming from the grounding of the troubled Boeing 737 Max than it was during the Great Recession, when it had to borrow money to prop up its unemployment insurance trust fund. That fund now has about $1...

Clouds pass by the European Central Bank in Frankfurt, Germany, Thursday, Jan. 16, 2020. (AP Photo/Michael Probst)

European Central Bank sees a few upbeat signs in eurozone

Jan. 16, 2020 9:31 AM EST

FRANKFURT, Germany (AP) — Top officials at the European Central Bank say economic growth remains weak though they see a few upbeat signs after the U.S. and China moved toward lowering trade tensions. Recent data point to “a stabilization in euro area growth,” according to an account of the...

A cargo ship passes the buildings of the banking district on the river Main in Frankfurt, Germany, Monday, Dec. 30, 2019. (AP Photo/Michael Probst)

German economic growth slows to 0.6% in 2019, worst in years

Jan. 15, 2020 6:13 AM EST

BERLIN (AP) — The German economy expanded by 0.6% last year, its worst performance since 2013, as export growth slowed and manufacturing was weak. It was the 10th consecutive year of growth, the longest period since Germany was reunited in 1990, the Federal Statistical Office said Wednesday. But growth was...

Governor commits to renewable energy in State of the State

Jan. 14, 2020 7:01 PM EST

PROVIDENCE, R.I. (AP) — Rhode Island Gov. Gina Raimondo announced Tuesday she will sign an executive order that aims to make the state the first in the nation to be powered completely by renewable energy by the end of the decade. In the annual State of the State speech to lawmakers, the Democratic governor...

FILE - In this Oct. 21, 2013, file photo, the JPMorgan Chase logo is displayed at their headquarters in New York. Banking giant JPMorgan Chase said that its fourth-quarter profits jumped 21% from a year earlier, as the bank's trading desks had a blowout quarter. A sharp increase in JPMorgan's trading business made up for declining interest rates, which impacted other parts of the bank. (AP Photo/Seth Wenig, File)

Banks post big profits, but lower interest rates are a worry

Jan. 14, 2020 2:57 PM EST

NEW YORK (AP) — So far, it appears 2019 was another record year for Wall Street. Trading of stocks and bonds rebounded after a terrible end to 2018 and consumers spent tons of money on their credit cards, buoyed by a strong job market and steady economic growth. On Tuesday, JPMorgan Chase reported a...

FIE - In this Feb. 5, 2019, file photo a ramp worker guides a Delta Air Lines plane at Seattle-Tacoma International Airport in Seattle. Delta Air Lines says it earned $1.1 billion in the fourth quarter by operating more flights and filling a higher percentage of seats.  The financial results beat Wall Street expectations. Delta and other U.S. airlines are enjoying a prolonged period of profitability thanks to steadily rising demand for travel.   (AP Photo/Ted S. Warren, File)

Strong demand, mild fuel prices help Delta earn $1.1 billion

Jan. 14, 2020 12:19 PM EST

Delta Air Lines boosted its fourth-quarter profit to $1.1 billion by adding more flights over the holiday-packed period and stuffing them even more full of passengers. Lower fuel prices helped too, as Delta reported Tuesday that earnings rose 8% over a year earlier and beat analysts' expectations. And unlike key...

FILE - In this Jan. 3, 2020, file photo the New York Stock Exchange is framed by the columns at Federal Hall National Memorial in New York. The U.S. stock market opens at 9:30 a.m. EST on Friday, Jan. 10. (AP Photo/Mary Altaffer, File)

US stocks pull back from records following jobs report

Jan. 10, 2020 4:31 PM EST

NEW YORK (AP) — U.S. stocks fell from their record heights on Friday after a report showed hiring was a touch weaker than expected last month. Employers added 145,000 jobs across the country in December, short of the 160,000 that economists forecast. But the growth was solid enough to bolster Wall...