Latest Recessions and depressions News
Steward Health Care announces closure of 2 Massachusetts hospitals
BOSTON (AP) — Steward Health Care announced Friday that is it closing two hospitals in Massachusetts because it received no qualified bids for the facilities after declaring bankruptcy earlier this year. Steward's bankruptcy is being investigated by the U.S. Senate, with Democrats...
Harris will carry Biden's economic record into the election. She hopes to turn it into an asset
WASHINGTON (AP) — A key question is looming for Vice President Kamala Harris as she edges closer to gaining the Democratic presidential nomination: Can she turn the Biden-Harris economic record into a political advantage in a way that President Joe Biden failed to do? In some ways,...
Sri Lanka will hold presidential election on Sept. 21, its first since declaring bankruptcy in 2022
COLOMBO, Sri Lanka (AP) — Sri Lanka will hold a presidential election on Sept. 21 that will likely be a test of confidence in President Ranil Wickremesinghe’s efforts to resolve the country’s worst economic crisis. The date was announced by the independent elections commission...
Senate committee votes to investigate Steward Health Care bankruptcy and subpoena its CEO
BOSTON (AP) — A Senate committee voted Thursday to authorize an investigation into the bankruptcy of Steward Health Care and to subpoena the company’s CEO, Dr. Ralph de la Torre. The subpoena would compel de la Torre to testify before the Senate Health, Education, Labor, and...
US economic growth increased last quarter to a healthy 2.8% annual rate
WASHINGTON (AP) — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. Thursday’s report from the Commerce Department said the gross domestic...
Under President Milei, the worst economic crisis in decades puts Argentine ingenuity to the test
BUENOS AIRES, Argentina (AP) — In the crush of anti-government protests paralyzing downtown Buenos Aires in the last months, some Argentines saw a traffic-induced headache. Others saw a reaction to President Javier Milei's brutal austerity measures. Alejandra, a street vendor, saw...
US homes find fewer foreign buyers as rising costs and a strong dollar leave market in record slump
LOS ANGELES (AP) — Sales of U.S. homes to Chinese, Canadian and other foreign buyers have fallen to the lowest level in more than a decade, hampered by a strong dollar and more hurdles that have kept the housing market in a deep sales slump for over two years. Some 54,300...
Former Mozambique finance minister on trial in US over 'tuna bond' scandal that spurred debt crisis
NEW YORK (AP) — The “ tuna bond ” scandal that shook Mozambique's economy is washing into a U.S. court, where a former Mozambican finance minister is being tried on charges that he took bribes to commit his country — secretly — to huge loans that prosecutors say got looted. ...
China's Communist Party charts technology- and security-focused development for reviving the economy
BANGKOK (AP) — In a year of major elections that will determine the destinies of many countries, China’s ruling Communist Party is holding closed, top-level meetings in Beijing to set strategies for reviving its slowing economy. State media likened the meetings that end Thursday...
Argentina's inflation edges up in June, breaking a months-long streak in a blow to President Milei
BUENOS AIRES, Argentina (AP) — A closely watched measure of inflation in Argentina was stronger than the libertarian government of President Javier Milei would have hoped on Friday, as the official statistics agency reported prices edging up in June and breaking a months-long streak of declines....
