Latest Recessions and depressions News
Cyprus hails Moody's two-notch credit rating upgrade bringing the country into investment grade
NICOSIA, Cyprus (AP) — Cyprus on Saturday hailed a two-notch upgrade by credit ratings agency Moody’s to bring the east Mediterranean island nation back into investment-grade territory a decade after a financial crisis left the country on the brink of bankruptcy. President Nikos...
Bank that handles Infowars money appears to be cutting ties with Alex Jones' company, lawyer says
HARTFORD, Conn. (AP) — A bank recently shut down the accounts of conspiracy theorist Alex Jones' media company, citing unauthorized transactions — a move that caused panic at the business when its balances suddenly dropped from more than $2 million to zero, according to a lawyer for the...
Trading of shares of heavily indebted property developer China Evergrande suspended in Hong Kong
HONG KONG (AP) — Trading in shares of heavily indebted Chinese property developer China Evergrande Group was suspended in Hong Kong on Thursday, according to a notice on the Hong Kong stock exchange. China Evergrande said in a notice on Thursday night that authorities had informed...
IMF says Sri Lanka needs to boost reforms and collect more taxes for its bailout funding package
COLOMBO, Sri Lanka (AP) — Sri Lanka has so far failed to make enough progress in boosting tax collection and other economic reforms for the International Monetary Fund to release a second tranche of $330 million in the country's $2.9 billion bailout from bankruptcy, the IMF said. ...
US consumer confidence tumbles in September as American anxiety about the future grows
WASHINGTON (AP) — The confidence of American consumers slipped this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period. The Conference Board, a business research group, said Tuesday that its consumer...
Stock market today: Asian shares track Wall Street's slump after Fed says rates may stay high in '24
Asian shares are lower, tracking a slump on Wall Street after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought. Most regional markets fell more than 1%. U.S. futures and oil prices also declined. U.S. stocks slumped...
Fed keeps rates unchanged and signals optimism about a potential 'soft landing'
WASHINGTON (AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. The Fed's policymakers also signaled that they expect...
Stanford says it will return all gifts from FTX following suit against Sam Bankman-Fried's parents
NEW YORK (AP) — Following a lawsuit against FTX Trading founder Sam Bankman-Fried's parents alleging that Stanford University received millions of dollars in donations from the now-collapsed cryptocurrency exchange, the school says it will return the funds of all gifts collected from FTX and...
Germany went from envy of the world to the worst-performing major developed economy. What happened?
ESSEN, Germany (AP) — For most of this century, Germany racked up one economic success after another, dominating global markets for high-end products like luxury cars and industrial machinery, selling so much to the rest of the world that half the economy ran on exports. Jobs were...
Chinese police detain wealth management staff at the heavily indebted developer Evergrande
TAIPEI, Taiwan (AP) — Police in a southern Chinese city said they have detained some staff at China Evergrande Group’s wealth management unit in the latest trouble for the heavily indebted developer. A statement by the Shenzhen police on Saturday said authorities “took criminal...
