Latest Recessions and depressions News
5 dead, dozens believed missing after 3 shipwrecks of migrant boats off Tunisian coast
TUNIS, Tunisia (AP) — At least five Africans are dead and dozens believed missing after three boats attempting to carry migrants across the Mediterranean Sea sank in recent days off the coast of the Tunisian city of Sfax, the Tunisian coast guard said Thursday. Bodies of five...
Bipartisan deal reached to save Milwaukee from bankruptcy
MADISON, Wis. (AP) — Wisconsin has handed cash-strapped Milwaukee a lifeline to stave off bankruptcy, allowing the city to raise sales taxes without voter approval as part of a larger local government and K-12 schools funding plan, according to a bipartisan deal announced Thursday Democratic Gov....
US company signs agreement to enter retail fuel market in crisis-hit Sri Lanka
COLOMBO, Sri Lanka (AP) — A U.S. petroleum company signed an agreement with Sri Lanka on Thursday allowing it to import and sell fuel in the country, less than a month after Chinese petroleum giant Sinopec also acquired rights to enter the retail market, as the Indian Ocean nation grapples with...
Europe's economy shrank. For households that are hurting, it's just numbers
LONDON (AP) — The European economy contracted slightly at the end of last year and beginning of 2023, revised figures showed Thursday, underlining the impact of the loss of Russian natural gas and high inflation on consumer spending. Economic output in the 20 countries that use the...
The pause on student loan payments is ending. Can borrowers find room in their budgets?
WASHINGTON (AP) — In a good month, Celina Chanthanouvong has about $200 left after rent, groceries and car insurance. That doesn’t factor in her student loans, which have been on hold since the start of the pandemic and are estimated to cost $300 a month. The pause in repayment has been a...
Land trusts offer an innovative way to help the middle class afford a home
Makeisha Robey grew up in a three-bedroom house and always wanted to provide the same for her children. But on a preschool teacher’s salary in Atlanta, that dream was out of reach. Her family moved from rental to rental as costs continued to rise. That changed after Robey learned...
London Irish becomes 3rd club banished from English rugby competitions amid financial crisis
LONDON (AP) — The financial crisis gripping English club rugby claimed another victim Tuesday when London Irish was suspended from the entire league structure for missing its latest deadline to pay staff and players. Worcester Warriors and Wasps have already been banished from the...
Demolition company vows repairs after a blast of air during an implosion damaged nearby homes
SPRINGDALE, Pa. (AP) — A blast of air and dust from the implosion of two smokestacks at a shuttered coal-fired power plant in western Pennsylvania last week felled power poles and caused damage to nearby homes. But the demolition company is vowing full repairs. The implosion at the...
Switzerland's UBS says it could complete Credit Suisse takeover on June 12
BERLIN (AP) — Switzerland's UBS said Monday that it expects to complete its takeover of longtime rival Credit Suisse as early as next week. The two Zurich-based banks are uniting in a 3 billion-franc ($3.3 billion) deal that was arranged hastily in March by the Swiss government...
UN agency for Palestinian refugees raises just $107 million of $300 million needed
UNITED NATIONS (AP) — Despite a dire warning from the United Nations chief that the U.N. agency for Palestinian refugees “is on the verge of financial collapse,” donors at a pledging conference on Friday provided just $107 million in new funds — significantly less than the $300 million it...
