Latest Financial crisis News
Former presidential yacht to be restored at Maine shipyard
BELFAST, Maine (AP) — A private shipyard is preparing for a painstaking stem-to-stern restoration of a floating piece of presidential history. The Sequoia is a 1925 motor yacht that served eight presidents before being sold by President Jimmy Carter in 1977. French...
Beirut bank standoff exposes desperation of economic crisis
BEIRUT (AP) — A judge ordered a gunman who took up to 10 hostages at a Beirut bank to force the release of his trapped savings to stay behind bars Friday, apparently a bid to prevent copycats as desperation deepens over Lebanon's economic meltdown. A few dozen relatives of Bassam...
Hostage standoff at Beirut bank ends with gunman's arrest
BEIRUT (AP) — A gunman demanding a Beirut bank let him withdraw his trapped savings to pay his father’s medical bills took up to 10 people hostage in a seven-hour standoff Thursday before surrendering in exchange for what a family lawyer said was $35,000 of his money. Bassam...
Sri Lankan ex-president who fled homeland arrives in Bangkok
BANGKOK (AP) — Former Sri Lankan President Gotabaya Rajapaksa, who last month fled anti-government protests in his country, arrived in Thailand on Thursday night on a flight from Singapore, where he had been staying since mid-July. Thai television stations showed Rajapaksa and a...
Rhine River could fall below critical mark, risking industry
COLOGNE, Germany (AP) — Water levels on the Rhine River could reach a critically low point in the coming days, German officials said Wednesday, making it increasingly difficult to transport goods — including coal and gasoline — as drought and an energy crisis grip Europe. Weeks...
Sri Lanka introduces reform bill to clip presidential powers
COLOMBO, Sri Lanka (AP) — Sri Lanka's justice minister submitted a proposed constitutional amendment to Parliament on Wednesday that would clip the powers of the president, a key demand of protesters calling for political reforms and solutions to the country’s worst economic crisis. ...
In race to win, UK Conservatives accused of ignoring crises
LONDON (AP) — As Britain swelters through a roasting summer, and braces for a cold financial reckoning in the fall, calls for the Conservative government to act are getting louder. But the Conservatives are busy choosing a new leader, through a prolonged party election whose...
Sri Lankans rally against crackdown on protesters
COLOMBO, Sri Lanka (AP) — Hundreds of Sri Lankans on Tuesday rallied against a government crackdown and the use of emergency laws against peaceful protesters demanding answers to the country’s worst economic crisis. Protesters led by religious and trade union leaders marched to...
Ex-Philippine leader and democracy defender Ramos is buried
MANILA, Philippines (AP) — Former Philippine President Fidel Ramos was laid to rest in a state funeral Tuesday, hailed as an ex-general who backed and then helped oust a dictatorship and became a defender of democracy and a can-do reformist in his poverty-wracked Asian country. ...
Public sector strike cripples cash-strapped Lebanon
BEIRUT (AP) — Tarek Younes was once solidly middle class and felt he helped contribute to society as an inspector in the Lebanese government’s consumer protection agency. But the country's economic free-fall has eroded his income and civic pride. In his desperation, Younes has...
