Latest Financial crisis News

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...

Lebanon faces internet service interruption amid fuel crisis

Jan. 16, 2022 07:50 AM EST

BEIRUT (AP) — Internet services were disrupted in Lebanon on Sunday because of diesel shortages, according to the state provider, adding another essential service to the list of casualties of the country’s snowballing economic crisis. Imad Kreidieh, the head of state internet...

Hezbollah, ally end Cabinet boycott in crisis-hit Lebanon

Jan. 15, 2022 13:39 PM EST

BEIRUT (AP) — Lebanon’s militant Hezbollah group and its main Shiite ally said Saturday they are ending their boycott of Cabinet meetings after a three-month deadlock that has worsened the small nation’s unprecedented economic meltdown. The two Shiite groups said in a joint...

2021 was a record year for homicides in Portland

Jan. 15, 2022 11:56 AM EST

PORTLAND, Ore. (AP) — In 2021 Portland, Oregon, recorded 90 homicides amid a surge in gun violence, shattering the city’s previous high of 66 set more than three decades ago. The number of homicides in Portland surpassed more populous cities like San Francisco and Boston — and...

UN chief warns millions of Afghans are on 'verge of death'

Jan. 13, 2022 14:24 PM EST

UNITED NATIONS (AP) — The United Nations chief warned Thursday that millions of Afghans are on the “verge of death," urging the international community to fund the U.N.’s $5 billion humanitarian appeal, release Afghanistan’s frozen assets and jump-start its banking system to avert economic...

Strike paralyzes Lebanon as economic conditions worsen

Jan. 13, 2022 09:25 AM EST

BEIRUT (AP) — Schools, universities and many shops were closed in Lebanon on Thursday as a general strike by public transportation and labor unions paralyzed the crisis-hit Mideast nation. Protesters closed the country’s major highways as well as roads inside cities and towns,...

UN: Yemen's escalating war spurs hunger and collapse

Jan. 12, 2022 17:08 PM EST

UNITED NATIONS (AP) — Escalating military action in Yemen displaced more than 15,000 people over the past month, killed or injured more than 350 civilians in December and left the Arab world’s poorest nation facing growing hunger and economic collapse with no political solution in sight, senior...

Austrian FM: EU ready to help Lebanon if leaders reform

Jan. 12, 2022 06:44 AM EST

BEIRUT (AP) — Austria’s foreign minister said Wednesday that the European Union wants to help Lebanon escape its economic meltdown, but only if the country's leaders clean up Beirut's affairs. Alexander Schallenberg told reporters after meeting his Lebanese counterpart in Beirut...

UN seeks $5B to aid millions of Afghans as country struggles

Jan. 11, 2022 18:54 PM EST

UNITED NATIONS (AP) — The United Nations on Tuesday launched its biggest ever appeal -- for over $5 billion to help 22 million Afghans whose country is on the brink of a humanitarian crisis and economic collapse as well as 5.7 million Afghan refugees in five neighboring countries. ...

Bank of America slashes fees for account overdrafts

Jan. 11, 2022 18:52 PM EST

NEW YORK (AP) — Bank of America slashed the amount it charges customers when they spend more than they have in their accounts and plans to eliminate entirely its fees for bounced checks. It's the latest move by the nation's biggest banks to roll back the overdraft fees they long...