Latest Financial crisis News

Argentines return to Europe to escape economic uncertainty

Apr. 23, 2019 12:14 AM EDT

BUENOS AIRES, Argentina (AP) — Tomas Ruiz embraced his father one last time at the Buenos Aires airport before he boarded a plane in search of a new life in Ireland. His sister recently did the same when she moved to Spain. Like many other young Argentines, the siblings hold European passports by descent,...

Reshuffle in Pakistani cabinet after finance minister quits

Apr. 18, 2019 2:45 PM EDT

ISLAMABAD (AP) — Pakistan's prime minister reshuffled his cabinet Thursday, changing the portfolios of some key ministers just hours after the country's finance minister stepped down amid a wave of criticism over government handling of a financial crisis that has sent prices soaring. Finance Minister Asad...

Dubai arena is latest project unveiled despite weaker growth

Apr. 18, 2019 2:25 PM EDT

DUBAI, United Arab Emirates (AP) — This week, Dubai unveiled its latest megaproject: A stadium in the heart of a super luxe shopping and dining destination. The arena, which will host sports events and concerts, is located in a leisure retail and residential destination called City Walk, which itself is...

Corporate deal-making dips in 1Q on trade, economy fears

Apr. 18, 2019 1:47 PM EDT

Lingering trade spats and fears of a global economic slowdown stunted corporate deal-making worldwide during the first quarter. Large, international deals that drove the acquisitions market for years nearly disappeared, pushing deal values down by 15% from a year ago. Deal-making in Europe plunged to its lowest...

Shortages hit Cuba, raising fears of new economic crisis

Apr. 18, 2019 1:30 PM EDT

BAUTA, Cuba (AP) — Just after 8 a.m., Pura Castell got in line behind about 100 other people waiting for a chance to buy frozen chicken legs. For two hours she leaned on her cane watching people leave the state-run market with their 5-pound limit. The chicken ran out at 10 a.m. while the 80-year-old...

Cyprus mulling early repayment of Russian loan

Apr. 18, 2019 9:22 AM EDT

NICOSIA, Cyprus (AP) — Cyprus is considering repaying early the remainder of a 2.5 billion euro ($2.83 billion) loan that Russia granted the island nation in 2012 amid a financial crisis. Finance Minister Harris Georgiades told a business forum Thursday that Cyprus is grateful to Russia for answering a...

To some market vets, stocks are rallying like it's 1999

Apr. 17, 2019 11:48 AM EDT

NEW YORK (AP) — The stock market has been so hot this year that it might need an ice-cold Fruitopia, or a Zima. The furious rally that's brought the S&P 500 to the brink of another record, so quickly on the heels of last year's scary tumble, is reminding some market veterans of the rebound of late...

AP interview: Palestinian PM accuses US of 'financial war'

Apr. 17, 2019 3:20 AM EDT

RAMALLAH, West Bank (AP) — The new Palestinian prime minister on Tuesday accused the United States of declaring "financial war" on his people and said an American peace plan purported to be in the works will be "born dead." In his first interview with international media since taking office over the...

AP interview: Palestinian PM accuses US of 'financial war'

Apr. 16, 2019 4:24 PM EDT

RAMALLAH, West Bank (AP) — The new Palestinian prime minister on Tuesday accused the United States of declaring "financial war" on his people and said an American peace plan purported to be in the works will be "born dead." In his first interview with the international media since taking office over the...

German economy gets positive signal amid slowdown

Apr. 16, 2019 6:28 AM EDT

FRANKFURT, Germany (AP) — An index of investor sentiment about Germany bounced higher in April, adding to the contradictory signals about the strength of Europe's largest economy. The ZEW index published Tuesday rose for the sixth straight month, to plus 3.1 from minus 3.6 in March. The German economy...