Latest Financial crisis News
Lebanese prime minister-designate steps down amid impasse
BEIRUT (AP) — Lebanon’s prime minister-designate resigned Saturday amid a political impasse over government formation, dealing a blow to French President Emmanuel Macron’s efforts to break a dangerous stalemate in the crisis-hit country. The announcement by Moustapha Adib nearly a month...
Pope to UN: Use COVID crisis to come out better, not worse
ROME (AP) — Pope Francis urged world leaders Friday to use the coronavirus emergency as an opportunity to reform the injustices of the global economy and the “perverse logic” of the nuclear deterrence doctrine, warning that increased isolationist responses to problems “must not...
Sales of new homes surge 4.8% in August
NEW YORK (AP) — Demand for new homes continues to surge despite an ongoing pandemic and lingering anxiety about the U.S. economy. The pace of sales have now reached levels last seen before the Great Recession in 2006. Sales new homes in August rose by a very strong 4.8% to a seasonally-adjusted annual...
Trudeau says Canada is in a second COVID-19 wave
TORONTO (AP) — Prime Minister Justin Trudeau said Wednesday that Canada is in a second wave of COVID-19 and warned the country is on the brink of a fall season that could be much worse than the spring. Trudeau noted that when Canada went into lockdown March 13 there were 47 new confirmed cases of COVID-19,...
Power outage darkens much of Venezuela, puts down phones
CARACAS, Venezuela (AP) — A power outage left parts of Venezuela’s capital and several states in the dark Wednesday, residents and independent observers said. The internet monitoring organization NetBlocks said the outage that started in the early afternoon darkened much of the South American...
S Carolina teachers stay home to advocate for pay, safety
COLUMBIA, S.C. (AP) — Some South Carolina teachers took a personal day Wednesday to fight for safer classrooms amid the pandemic as well as an annual small raise that was frozen after the economy crashed because of the virus. Unlike May 2019, when SC for Ed brought 10,000 people to the Statehouse for a...
Reports: Kuwait and the UAE in economic pain amid pandemic
DUBAI, United Arab Emirates (AP) — Two oil-rich Arab Gulf states suffered severe economic blows on Wednesday, as a major credit agency downgraded Kuwait for the first time and the United Arab Emirates acknowledged its economy would contract to a level last seen in 2009. The agency, Moody’s Investors...
World powers clash, virus stirs anger at virtual UN meeting
UNITED NATIONS (AP) — Kept apart by a devastating pandemic and dispersed across the globe, world leaders convened electronically Tuesday for an unprecedented high-level meeting, where the U.N. chief exhorted them to unite and tackle the era’s towering problems: the coronavirus, the “economic...
Powell and Mnuchin voice optimism but back more economic aid
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. Powell told the House...
Bolsonaro to world: Brazil is victim of environmental smear
RIO DE JANEIRO (AP) — Brazilian President Jair Bolsonaro defended his administration’s record protecting the Amazon rainforest, telling the United Nations’ virtual meeting of global leaders on Tuesday that his country has been wrongly portrayed as an environmental villain. Bolsonaro's critics...
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