Latest Recessions and depressions News
TGI Fridays files for bankruptcy protection as sit-down restaurant struggles continue
DALLAS (AP) — Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of the casual dining brand after closing many of its branches this year. The Dallas-based company filed for Chapter 11...
Mexican fuel flows to Cuba as the island faces blackouts and the loss of Russian and Venezuelan oil
MEXICO CITY (AP) — As Cuba grapples with blackouts and a deepening economic crisis, Mexico has sent nearly half a million barrels of crude oil and diesel in just a span of days, oil shipment data provided to The Associated Press showed Thursday. It comes at a time when shipments of...
Court approves Tupperware's sale to lenders, paving way for brand's exit from bankruptcy
NEW YORK (AP) — A U.S. bankruptcy judge approved a sale of Tupperware Brands on Tuesday, paving the way for the iconic food storage company to soon exit Chapter 11 protection and continue offering its products while undergoing a hoped-for revitalization. The sale given the...
US economy grew at a solid 2.8% pace last quarter on strength of consumer spending
WASHINGTON (AP) — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the...
American consumers feeling much more confident as Election Day nears
WASHINGTON (AP) — American consumers are feeling quite a bit more confident this month as Election Day approaches, a business research group says. The Conference Board said Tuesday that its consumer confidence index jumped to 108.7 in October from 99.2 in September. It was the...
Today in History: October 29, ‘Black Tuesday’ signals start of Great Depression
Today is Tuesday, Oct. 29, the 303rd day of 2024. There are 63 days left in the year. Today in history: On Oct. 29, 1929, ‘Black Tuesday’ descended on the New York Stock Exchange. Prices collapsed amid panicked selling and thousands of investors were wiped out as...
Texas’ high housing costs sparked a movement to bring them down
The scene was a familiar one at Austin City Hall: The City Council once again was seeking reforms to curb the capital city’s sky-high home prices and rents, and opponents had turned out in force to try to block them. The central idea behind the reforms: Austin needed a lot more...
A ‘Housing Trust Fund’ is on New Orleans ballots next month. What do voters need to know?
It is no secret that New Orleans is facing a housing crisis. Like many other cities across the nation, New Orleans is contending with a decreasing supply of low-cost housing coupled with cost-of-living increases across the board. The city has also faced its own acute challenges: an...
What to know about the electrical grid failure that plunged Cuba into darkness
HAVANA (AP) — Millions of people in Cuba were left without electricity for two days after the nation's energy grid went down when one of the island's major power plants failed. The widespread blackout that swept across the county was the worst in years. Authorities have restored...
European Central Bank, seeing no signs of recession, cuts interest rates again
LONDON (AP) — The European Central Bank, which sets interest rates for the 20 countries that use the euro currency, does not expect the bloc to slide into recession as it cut borrowing costs once again Thursday in the wake of recent data showing inflation across the bloc falling to its lowest...
