Latest Financial crisis News

People shop for clothing at the used-clothes market in Baghdad, Iraq, Tuesday, Oct. 20, 2020.  Iraq is in the throes of an unprecedented liquidity crisis, as the cash-strapped state wrestles to pay public sector salaries and import essential goods while oil prices remain dangerously low. (AP Photo/Khalid Mohammed)

Bloated public salaries at heart of Iraq's economic woes

Oct. 23, 2020 1:55 PM EDT

BAGHDAD (AP) — Long-time Iraqi civil servant Qusay Abdul-Amma panicked when his monthly salary was delayed. Days of waiting turned to weeks. He defaulted on rent and other bills. A graphic designer for the Health Ministry, he uses about half his salary to pay his rent of nearly 450,000 Iraqi dinars a...

A pedestrian wearing a face mask to curb the spread of COVID-19 walks in front of the Greek parliament in central Athens, Tuesday, Oct. 20, 2020. Greece has been experiencing a resurgence of the virus, with the number of new daily cases, most in the Greek capital, often topping 400, and both deaths and the number of those in intensive care units rising. (AP Photo/Thanassis Stavrakis)

Greece: Insolvency overhaul during pandemic triggers spat

Oct. 23, 2020 9:51 AM EDT

ATHENS, Greece (AP) — The Greek government's opposition is trying to block new insolvency legislation that it argues would leave vulnerable mortgage holders more exposed to repossession during the pandemic. The conservative government is overhauling its bankruptcy regulations, replacing a protection...

Michigan State dropping swimming and diving teams

Oct. 22, 2020 5:13 PM EDT

EAST LANSING, Mich. (AP) — Michigan State University is dropping swimming and diving teams for men and women after the 2020-21 season, officials said Thursday. “MSU athletics is facing a financial crisis unlike any we’ve ever seen in college athletics,” athletic director Bill Beekman...

Lebanese Prime Minister-Designate Saad Hariri speaks to journalists at the Presidential Palace in Baabda, east of Beirut, Lebanon, Thursday, Oct, 22, 2020. Lebanon's president Michel Aoun asked former premier Saad Hariri to form the country's next government Thursday after he secured enough votes from lawmakers - bringing back an old name to lead the country out of its dire political and economic crises. (AP Photo/Hussein Malla)

For 4th time, Hariri is back as PM in crisis-hit Lebanon

Oct. 22, 2020 12:08 PM EDT

BEIRUT (AP) — Lebanon’s president tasked former Prime Minister Saad Hariri with forming a new government Thursday, bringing back the veteran politician a year after he was toppled amid nationwide protests against widespread corruption and a flunking economy. President Michel Aoun designated Hariri...

Golden Dawn party leader Nikos Michaloliakos, center, leaves his residence in Athens, Thursday, Oct. 22, 2020.A court has sentenced Michaloliakos and the leadership of Greece's extreme-right Golden Dawn party to 13 years in prison, imposing the near-maximum penalty for running a criminal organization blamed for numerous violent hate crimes. The landmark ruling follows a five-year trial of dozens of top officials, members, and supporters of the organization founded as a Neo-Nazi group in the 1980s, that rose to become Greece's third-largest political party during a major financial crisis in the previous decade. (AP Photo/Thanassis Stavrakis)

Greek court imprisons far-right Golden Dawn party leadership

Oct. 22, 2020 11:10 AM EDT

ATHENS, Greece (AP) — Former lawmakers of Greece's extreme right-wing Golden Dawn party began turning themselves in to authorities Thursday, after a court ordered their imprisonment following their convictions for running the party like a criminal organization. In the final act of a marathon five-year,...

In this Sept. 25, 2020 photo, President Donald Trump does a little dance after speaking at a campaign rally in Newport News, Va. Trump, a man who is famously particular about his appearance, is fully embracing doing a dad dance to the Village People's “YMCA” as the finale to his rallies in the campaign's closing stretch.  (AP Photo/Steve Helber)

Trump the dancer? His moves to 'YMCA' at rallies are a hit

Oct. 21, 2020 2:05 PM EDT

TUCSON, Ariz. (AP) — He adjusts his coat. He gazes out at the crowd. And then he goes for it. President Donald Trump, a man who is famously particular about his appearance, is fully embracing doing a dad dance to the Village People's “YMCA” as the finale to his rallies in the campaign's...

Indian laborers work at a building construction site in Gauhati, India, Monday, Oct. 19, 2020. (AP Photo/Anupam Nath)

Study: COVID speeds up human vs machine standoff over work

Oct. 20, 2020 6:01 PM EDT

GENEVA (AP) — As automation and online work gain ground, organizers of the annual Davos forum are projecting employers will split work equally between machines and people by 2025, with the coronavirus pandemic accelerating changes in the labor market. The World Economic Forum, in a report released...

Turkish military convoy drives through the village of Urum al-Jawz, in Idlib province, Syria, Tuesday, Oct. 20, 2020. Turkish troops in northwestern Syria have been evacuating one of their largest military bases in the area, which was surrounded by Syrian government troops for months, activists said Tuesday. There was no immediate comment from Turkish officials. (AP Photo/Ghaith Alsayed)

Turkey evacuates large military post in northwest Syria

Oct. 20, 2020 1:05 PM EDT

BEIRUT (AP) — Turkish troops in northwestern Syria have been evacuating one of their largest military bases in the area, which was surrounded by Syrian government troops for months, activists said Tuesday. There was no immediate comment from Turkish officials. Activists and opposition media platforms...

FILE - This undated file photo provided by NerdWallet shows Liz Weston, a columnist for personal finance website NerdWallet.com. (NerdWallet via AP, File)

Liz Weston: Playing the market is a bad idea, especially now

Oct. 19, 2020 5:34 AM EDT

The current day trading boom will end as these frenzies always do: in tears. While we wait for the inevitable crash, let’s review not only why day traders are doomed but also why most people shouldn’t trade, or even invest in, individual stocks. Day trading basically means rapidly buying and...

FILE - In this Tuesday Feb. 11, 2020 file photo, Christine Lagarde president of the ECB looks up prior to deliver her speech before the European Parliament's economic and monetary affairs committee at the European Parliament in Strasbourg, France. The head of the European Central Bank says that the economic recovery “risks losing momentum” due to the second wave of coronavirus infections and that the chief monetary authority for the euro countries could add more stimulus if that becomes necessary.  (AP Photo/Jean-François Badias, File)

Europe's central banker: Recovery 'risks losing momentum'

Oct. 19, 2020 5:20 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank says the economic recovery from the coronavirus pandemic “risks losing momentum” due to a second wave of infections and that more stimulus could be added if necessary. “The second wave of the pandemic in Europe, notably...