Latest Financial crisis News

Agency eyes big revamp of Wall Street whistleblower program

Oct. 12, 2019 10:48 AM EDT

WASHINGTON (AP) — A federal agency is moving with little fanfare to revamp one of the most successful whistleblower programs in the government, alarming advocates who warn the changes will set back efforts to police Wall Street and punish corporate fraud. Much like the whistleblower system for intelligence...

Venezuela's gas shortages stall ambulances in their tracks

Oct. 10, 2019 6:06 PM EDT

SAN CRISTOBAL, Venezuela (AP) — Ambulances have become the latest casualty of Venezuela's unraveling political and economic crisis, struggling to fuel up and speed away to emergencies as gasoline scarcities deepen. Long lines winding for miles up to service stations are often commonplace for residents...

Fed approves rules loosening Dodd-Frank bank restrictions

Oct. 10, 2019 5:02 PM EDT

WASHINGTON (AP) — The Federal Reserve is easing restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump. The Fed on Thursday approved a set of rule changes that implement legislation passed by Congress last year to loosen...

In historic sale, Greek debt carries negative interest rate

Oct. 9, 2019 2:50 PM EDT

ATHENS, Greece (AP) — More than a year after Greece exited its bailout programs, investors made history in the country Wednesday by buying its short-term debt at a negative yield, meaning they volunteered at least in theory to get less money back than they paid. Greece's debt management agency said it...

US job openings slip 1.7% in August as labor market slows

Oct. 9, 2019 11:22 AM EDT

WASHINGTON (AP) — U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down from 7.2...

Federal regulatory agencies OK changes to 'Volcker rule'

Oct. 8, 2019 5:37 PM EDT

WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced final approval Tuesday to changes in the "Volcker rule" passed after the 2008 financial meltdown to crack down on trading excesses that contributed to the crisis. The changes were supported by the banking industry, which...

Asian shares rise despite worries on US-China talks

Oct. 7, 2019 11:32 PM EDT

TOKYO (AP) — Asian shares rose Tuesday despite continuing worries about the health of the global economy ahead of trade talks between the U.S. and China. Japan's benchmark Nikkei 225 gained 1.1% to 21,604.16 in early trading. Australia's S&P/ASX 200 added nearly 0.6% to 6,599.60, while South Korea's...

Austria's Kurz given task of putting together new government

Oct. 7, 2019 7:44 AM EDT

VIENNA (AP) — Austrian center-right leader Sebastian Kurz embarked Monday on what could be the lengthy task of forming a new government, citing a looming economic downturn, unregulated migration and climate change among the challenges the next administration will face. President Alexander Van der Bellen...

Business economists foresee slowdown in US growth

Oct. 7, 2019 3:38 AM EDT

WASHINGTON (AP) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the...

Portugal's Socialists prepare 4 more years in government

Oct. 6, 2019 7:52 PM EDT

LISBON, Portugal (AP) — The center-left Socialist Party got the most votes in Portugal's general election Sunday, leaving it poised to continue leading the government for another four years. With 226 seats in the 230-seat parliament awarded in the official count, the Socialists reached 106 seats, compared...