Latest Recessions and depressions News
Market for newly built homes slows as elevated mortgage rates put off many home shoppers
LOS ANGELES (AP) — Homebuilders who bucked the worst of last year’s housing slump may be seeing their luck run out. After showing signs of strengthening early this year, sales of new U.S. homes fell in April and May from a year earlier by 7.7% and 16.5%, respectively. ...
Sri Lanka reaches deal on debt restructuring with bilateral creditors including China and France
COLOMBO, Sri Lanka (AP) — Sri Lanka’s President Ranil Wickremesinghe announced a debt restructuring deal with countries including India, France, Japan and China in a televised address to the nation Wednesday. The agreement marks a key step in the country’s economic recovery after defaulting...
Consumer confidence in U.S. falls in June as Americans fret about near-term prospects
American consumers lost some confidence in June as expectations over the near-term future fell again. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell in June to 100.4 from 101.3 in May. The index's decline was not quite as bad as...
Yellen announces efforts to boost the housing supply as high prices create a crunch
WASHINGTON (AP) — The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years. Treasury Secretary...
Bankruptcy judge approves sale of Express Inc to group led by WHP Global
NEW YORK (AP) — A U.S. bankruptcy judge has approved the sale of the majority of Express Inc. 's operations to a consortium led by brand acquisition and management firm WHP Global — providing a lifeline to the struggling retailer and its hundreds of remaining stores. The offer...
Lawmakers seek health care and retirement protections for Steward Health Care workers
BOSTON (AP) — A group of Democratic members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have their health care and retirement benefits protected. Steward last month said it plans to...
China keeps lending rate unchanged as data show housing market is still struggling
BANGKOK (AP) — China's central bank kept a key lending rate unchanged on Monday, choosing not to loosen credit as data for May showed signs of persisting weakness in the world's No. 2 economy's manufacturing and real estate sectors. The central bank kept its rate for 1-year...
What we know about the fight between conspiracist Alex Jones and Sandy Hook families over his assets
HOUSTON (AP) — Bombastic conspiracy theorist Alex Jones has been ordered to liquidate his personal assets as he owes $1.5 billion for his false claims that the 2012 Sandy Hook Elementary School shooting, which killed 20 first graders and six educators in Newtown, Connecticut, was a hoax. ...
Cuban troubadour Silvio Rodríguez, icon of the revolution, dwells on island's troubles in new album
HAVANA (AP) — He was the poetic voice of the Cuban Revolution, an inspiration for millions of Latin Americans living under dictatorships throughout the 1960s and 1970s who dreamt of the ideal Cuba that he — and his guitar — helped to evoke. Cuban troubadour Silvio Rodríguez,...
WeWork has emerged from bankruptcy. What's next for the co-working office space provider?
NEW YORK (AP) — WeWork has officially emerged from bankruptcy. And all eyes are on whether its new leadership can guide the long-embattled provider of co-working office space to success. Once a Wall Street darling promising to revolutionize the world of work, WeWork took a stunning...
