Latest Financial crisis News
Asian shares mostly lower, China gains on GDP rebound
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. The stronger than expected performance for the world's second-largest economy helped counter growing wariness among investors...
Violent youth protests hit Tunisia amid economic turmoil
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...
Unity has long been a theme, and anxiety, for new presidents
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...
Asian shares mixed following Biden speech, Wall St retreat
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...
Cuba tweaks socialist model to encourage work amid crisis
HAVANA (AP) — For more than 60 years, Cuba supplied at least some rice, milk, beans, sugar, chicken, electrical power and even cigarettes to its people nearly free of cost regardless of whether they worked, allowing many to survive without a job or depend solely on remittances. But this year, the...
At virus tipping point, Lebanon imposes all-day curfew
BEIRUT (AP) — It was a choice between containing a spiraling virus outbreak and resuscitating a dying economy in a country that has been in steady financial and economic meltdown over the past year. Authorities in Lebanon chose the latter. Now, virus patients struggling to breathe wait outside hospitals...
Reform Party leader tasked to form Estonia's new government
HELSINKI (AP) — Estonia’s president on Thursday tasked the leader of the main opposition party to form a new government, a day after Prime Minister Juri Ratas and his Cabinet stepped down in the wake of a corruption scandal in Ratas' ruling Center Party. Kaja Kallas, chairwoman of the center-right...
US budget deficit up 60.7% in first 3 months of budget year
WASHINGTON (AP) — The U.S. government's deficit in the first three months of the budget year was a record-breaking $572.9 billion, 60.7% higher than the same period a year ago, as spending to deal with the COVID-19 pandemic surged while revenue declined. The Treasury Department reported Wednesday that...
Biden's Commerce nominee says she has 'blueprint' for US
President-elect Joe Biden’s nominee to lead the Commerce Department said Wednesday if confirmed she will take much of what she has learned improving her home state of Rhode Island’s economy and apply it at the federal level. “Right before COVID, Rhode Island had a record number of jobs and...
World Bank approves cash assistance to crisis-struck Lebanon
BEIRUT (AP) — The World Bank approved a $246 million loan to Lebanon to provide emergency cash assistance to nearly 800,000 Lebanese reeling under the country’s compounded economic and health crises. The World Bank said in a statement late Tuesday the loan would also support the development of a...
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