Latest Financial crisis News

Hong Kong's Financial Secretary Paul Chan delivers his annual budget speech at the Legislative Council in Hong Kong Wednesday, Feb. 26, 2020.  Hong Kong's government is proposing a nearly $1,300 cash handout for each resident over 18 years old to help alleviate hardships brought on by the spreading viral outbreak and prolonged political protests.(AP Photo/Vincent Yu)

Hong Kong plans handouts, tax cuts to counter economic woes

Feb. 26, 2020 12:24 AM EST

HONG KONG (AP) — Hong Kong's government is proposing a nearly $1,300 cash handout for each resident over 18 years old to help alleviate hardships brought on by the spreading viral outbreak and prolonged political protests. The subsidy was among a slew of emergency measures in a budget presented to the...

In this photo released by Lebanon's official government photographer Dalati Nohra, Lebanese President Michel Aoun, center, heads the cabinet meeting, at the presidential palace, in Baabda, east of Beirut, Lebanon, Tuesday, Feb. 25, 2020. French oil giant Total and the Lebanese government said Tuesday the drill ship that will carry operations of the first exploration well off the Lebanese coast has arrived where it will start drilling later this week. The arrival of the drill ship comes at a time when Lebanon is passing through its worst economic and financial crisis in decades and harsh liquidity shortage. (Dalati Nohra via AP)

French Total to drill exploratory well off Lebanese coast

Feb. 25, 2020 12:09 PM EST

BEIRUT (AP) — A ship that will set up the first oil and gas exploration well off the Lebanese coast has arrived in Lebanon where it will start work later this week, French oil giant Total and Lebanon's government announced Tuesday. The arrival of the drill ship comes at a time when Lebanon is going...

U.S.President Donald Trump points to a question during a news conference, Tuesday, Feb. 25, 2020, in New Delhi, India. (AP Photo/Alex Brandon)

Trump defends Modi, refuses to weigh in on citizenship law

Feb. 25, 2020 11:41 AM EST

NEW DELHI (AP) — Defending the host who has showered him with pageantry, President Donald Trump refused Tuesday to speak out publicly against an Indian citizenship law pushed by Prime Minister Narendra Modi that has sparked deadly protests over discrimination against Muslims during the president's visit....

U.S.President Donald Trump and first lady Melania Trump stand with Indian President Ram Nath Kovind and his wife Savita Kovind during the playing of the national anthem at a state banquet at Rashtrapati Bhavan, Tuesday, Feb. 25, 2020, in New Delhi, India. (AP Photo/Alex Brandon, Pool)

The Latest: Trump hails India trip as 'learning experience'

Feb. 25, 2020 11:02 AM EST

NEW DELHI (AP) — The Latest on President Donald Trump's visit to India (all times local): 8:40 p.m. President Donald Trump says an India visit that featured a mega-rally, a tour of the Taj Mahal and meetings with business leaders and Prime Minister Narendra Modi has been a “tremendous learning...

Women wearing sanitary masks walk in downtown Milan, Italy, Monday, Feb. 24, 2020. Italy has been scrambling to check the spread of Europe's first major outbreak of the new viral disease amid rapidly rising numbers of infections, calling off the popular Venice Carnival, scrapping major league soccer matches in the stricken area and shuttering theaters, including Milan's legendary La Scala. (AP Photo/Luca Bruno)

Virus outbreak chills markets, outlook for global economy

Feb. 24, 2020 2:36 PM EST

FRANKFURT, Germany (AP) — The widening coronavirus outbreak threatens to seriously disrupt the global economy, just as it was steadying itself against headwinds from the U.S.-China trade dispute. Amid concerns that global output could decline for the first time since the global financial crisis a little...

Justices throw out seizure of church assets in Puerto Rico

Feb. 24, 2020 10:46 AM EST

WASHINGTON (AP) — The Supreme Court on Monday threw out a court order to seize assets belonging to the Roman Catholic archdiocese of San Juan, Puerto Rico, to pay pension benefits for Catholic school teachers. The justices said in an unsigned opinion that a Puerto Rico court lacked the authority to issue...

In this Thursday, Feb. 20, 2020, Leah Tsiga, stands outside her thatched hut with an empty basket in Mudzi about 230 Kilometers, northeast of the Zimbabwean capital Harare. Living alone in Zimbabwe’s arid Mudzi district, Leah Tsiga's best friend is her cat. But when it comes to food, each has to look for their own and the 90-year-old Tsiga often comes second best. The crafty feline forages in nearby bushes for rats, birds, insects and worms. As for the frail Tsiga, she sometimes goes for days without a solid meal, as Zimbabwe is ravaged by a combination of drought and deepening economic crisis. (AP Photo/Tsvangirayi Mukwazhi)

Zimbabwe's rural elderly battle hunger amid severe drought

Feb. 24, 2020 10:34 AM EST

MUDZI, Zimbabwe (AP) — Living alone in Zimbabwe’s arid Mudzi district, Leah Tsiga's best friend is her cat. But when it comes to food, each has to look for their own and the 90-year-old Tsiga often comes second best. The crafty feline forages in nearby bushes for rats, birds, insects and worms. As...

A voter casts his ballot in the parliamentary elections in a polling station in Tehran, Iran, Friday, Feb. 21, 2020. Iranians began voting for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and isolate the country diplomatically. (AP Photo/Vahid Salemi)

Iranians vote in parliament elections favoring conservatives

Feb. 21, 2020 4:22 PM EST

TEHRAN, Iran (AP) — Iranians voted for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and U.S. pressure isolates the country diplomatically. The disqualification of more than 7,000 potential candidates, most of them reformists...

FILE - In this Jan. 15, 2020 file photo, people look at the broken facade of Bank of Beirut that was smashed by anti-government protesters in Beirut, Lebanon. Fitch Ratings said Tuesday, Feb. 18, 2020, that Lebanon's financial position points to a likely restructuring of the country's massive debt and financial sector as the Arab nation passes though its worst financial and economic crisis in decades. Fitch Ratings' report comes as Lebanese officials are debating whether to pay back $1.2 billion worth of Eurobonds that will mature on March 9. (AP Photo/Bilal Hussein, File)

Moody's downgrades Lebanon's rating amid financial crisis

Feb. 21, 2020 12:22 PM EST

BEIRUT (AP) — Credit rating agency Moody's downgraded Lebanon's government issuer ratings Friday to Ca from Caa2 and changed the outlook to stable amid concerns the tiny Arab country might be forced to restructure its massive debt. Lebanon is experiencing its worst economic and financial crisis since the...

FILE - In this Jan. 30, 2020, file photo, travelers wearing face masks stand in line at the check-in counters for Cathay Pacific at Shanghai Pudong International Airport in Shanghai, China. The outbreak of the new virus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association. (AP Photo/Erika Kinetz, File)

IATA: Virus may slash $29 billion from airlines' revenue

Feb. 21, 2020 1:03 AM EST

TOKYO (AP) — The outbreak of the new virus threatens to erase $29 billion of this year's revenue for global airlines, mostly for Chinese carriers, as travel crashes worldwide, according to the International Air Transport Association. The trade group for global airlines said Thursday that the virus causing...