Latest Financial crisis News

Can pandemic recovery plan end Italy's years of stagnation?

Jun. 23, 2021 04:27 AM EDT

MILAN (AP) — The COVID-19 pandemic hit Italy especially hard, killing more than 127,000 people and sending the European Union's third-largest economy into a devastating tailspin. Yet out of that tragedy may come solutions for decades-old problems that have held back...

In times of crises, Lebanon's old must fend for themselves

Jun. 22, 2021 09:37 AM EDT

BEIRUT (AP) — Tiny and bowed by age, Marie Orfali makes the trip five times a week from her Beirut apartment to the local church, a charity and a nearby soup kitchen to fetch a cooked meal for her and her 84-year-old husband, Raymond. Their only support — Raymond’s...

Europol: Extremists sought to use pandemic to spread hate

Jun. 22, 2021 08:27 AM EDT

THE HAGUE, Netherlands (AP) — Extremists sought to use the global pandemic to “spread hate propaganda and exacerbate mistrust in public institutions” in 2020, the European Union's police agency said Tuesday in its annual report on terrorism in the 27-nation bloc. ...

Lebanon again raises price of bread amid crippling crisis

Jun. 22, 2021 08:03 AM EDT

BEIRUT (AP) — Lebanon’s economy ministry on Tuesday raised the price of subsidized bread for the fifth time in a year as the country’s multiple crises worsen with no resolution in sight. The ministry said the reason behind the latest increase — an 18% hike from...

South Carolina's $11 billon budget heading to governor

Jun. 21, 2021 16:54 PM EDT

COLUMBIA, S.C. (AP) — South Carolina's nearly $11 billion budget was sent to the governor's desk on Monday as lawmakers cut close the deadline to get the spending plan in place before it begins July 1. There is something for almost everyone in the budget, including...

Baby eels rocketed back up in value this year

Jun. 21, 2021 10:40 AM EDT

PORTLAND, Maine (AP) — Maine's fishery for baby eels recovered in value this spring. The fishery is one of the most valuable in the country on a per-pound basis. The baby eels, called elvers, are valuable to Asian aquaculture companies that raise them to maturity so...

EU diplomat: mistrust at core of Lebanon political crisis

Jun. 20, 2021 13:33 PM EDT

BEIRUT (AP) — A struggle for power and strong mistrust is at the heart of the fight between Lebanese political leaders and the deadlock over government formation, the European Union’s foreign policy chief said Sunday. “It is clear a fight for the distribution of...

EU threatens Lebanese politicians with sanctions over crisis

Jun. 19, 2021 09:43 AM EDT

BEIRUT (AP) — The European Union’s foreign policy chief Saturday berated Lebanese politicians for delays in forming a new Cabinet, warning the union could impose sanctions on those behind the political stalemate in the crisis-hit country. Josep Borrell made his...

Republicans point to inflation in bid to retake Congress

Jun. 18, 2021 10:43 AM EDT

WASHINGTON (AP) — Gas prices have whizzed past $3 per gallon in much of the nation. The cost of used cars and new furniture, airline tickets, department store blouses, ground beef and a Chipotle burrito are on the rise, too. Many economists say the price increases are...

Big diamond found in Botswana, could be world's 3rd largest

Jun. 17, 2021 13:19 PM EDT

GABORONE, Botswana (AP) — A huge diamond weighing more than 1,000 carats, which could be the third-largest mined in history, has been discovered in the southern African country of Botswana. The high-quality gemstone weighing 1,098.3 carats was unearthed earlier this...