Latest Recessions and depressions News

Wall Street slips as weak earnings hit tech, travel stocks

Aug. 09, 2022 16:55 PM EDT

Stocks on Wall Street extended their recent run of losses Tuesday as investors reviewed disappointing earnings reports and looked ahead to the release of an inflation snapshot closely watched by the Federal Reserve. The S&P 500 fell 0.4%, marking its fourth consecutive drop. The...

American Airlines CFO on fixing balance sheet after pandemic

Aug. 08, 2022 12:40 PM EDT

FORT WORTH, Texas (AP) — Derek Kerr might have the hardest job in the airline business. Kerr is the chief financial officer of American Airlines, and his task is to fix a balance sheet that has been battered by borrowing needed to survive the pandemic. American has...

Wall Street falls as jobs data suggests Fed hikes not over

Aug. 05, 2022 16:50 PM EDT

NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street. The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as...

'What recession?': US employers add 528,000 jobs in July

Aug. 05, 2022 16:26 PM EDT

WASHINGTON (AP) — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemployment dropped another notch,...

How major US stock indexes fared Friday 8/05/2022

Aug. 05, 2022 16:26 PM EDT

Stocks are closing mostly lower Friday after new data on the hot U.S. jobs market suggested the Fed won’t soon rein in its aggressive rate hikes. The S&P 500 and the Nasdaq fell, while the Dow Jones industrials notched a small gain. Employers unexpectedly...

5 things to consider when looking for a new job

Aug. 05, 2022 15:27 PM EDT

New York (AP) — Looking for a new job is a balancing act: Some people change roles for a shorter commute or better salary, others want health insurance or flexible schedules, and still others are looking to work in a new or different industry. Hiring is booming in the U.S. — the...

EXPLAINER: How do we know when a recession has begun?

Aug. 05, 2022 14:54 PM EDT

WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected. The stunning strength made clear that a linchpin of the economy remains...

5 key takeaways from the July jobs report

Aug. 05, 2022 13:39 PM EDT

NEW YORK (AP) — July's jobs report was a stunner, in more ways than one. Despite raging inflation and anxiety about a possible recession, employers created 528,000 jobs last month, more than double market expectations. That's the fastest pace of hiring since February. While the...

India raises interest rate to 5.4%, in 3rd hike since May

Aug. 05, 2022 05:26 AM EDT

NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation. Reserve Bank of India Governor Shaktikanta Das projected inflation at 6.7% in this financial year. June...

Bank of England predicts recession at the end of the year

Aug. 04, 2022 13:31 PM EDT

LONDON (AP) — The Bank of England announced its biggest interest rate increase in 27 years on Thursday as it forecast that the war in Ukraine would fuel further inflation and tip the U.K. economy into a prolonged recession. Soaring natural gas prices are likely to drive consumer...