Latest Financial crisis News

Powell says financial crisis accelerated economic changes

Jul. 16, 2019 2:54 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday that the 2008 financial crisis accelerated major changes in the U.S. and global economies, leading to slower growth, lower inflation and lower interest rates. Delivering remarks to a Paris economic conference, Powell said that since the...

Lebanese parliament convenes on budget amid tight security

Jul. 16, 2019 12:28 PM EDT

BEIRUT (AP) — Under tight security, Lebanese lawmakers on Tuesday began discussing the draft 2019 state budget that aims to avert a financial crisis in the heavily indebted country by raising taxes and cutting public spending. The discussions were being held amid limited protests against proposed austerity...

China's growth cools further as tariff war pressures mount

Jul. 15, 2019 3:20 PM EDT

BEIJING (AP) — China's economic growth sank to its lowest level in at least 26 years in the quarter ending in June, adding to pressure on Chinese leaders as they fight a tariff war with Washington. The world's second-largest economy grew 6.2% over a year ago, down from the previous quarter's 6.4%,...

Venezuelan government, opposition resume talks in Barbados

Jul. 15, 2019 3:17 PM EDT

CARACAS, Venezuela (AP) — The Venezuelan government and the opposition are resuming talks aimed at ending the political crisis in their country, the country's information minister said Monday. Jorge Rodríguez said on Twitter that he and the rest of the government's delegation have arrived for...

World shares mixed as China reports economic slowdown

Jul. 15, 2019 7:41 AM EDT

BANGKOK (AP) — Global shares were mixed Monday after China reported that its economy grew at the slowest pace in at least 26 years in the last quarter, leading investors to opt for caution despite Friday's record highs on Wall Street. Tariff hikes by President Donald Trump have battered Chinese and U.S....

Venezuelan authorities arrest 2 Guaidó security guards

Jul. 13, 2019 7:10 PM EDT

CARACAS, Venezuela (AP) — Venezuelan authorities have detained two members of opposition leader Juan Guaidó's security team, keeping pressure on their U.S.-backed adversary even as the two sides hold talks aimed at finding a solution to the country's political standoff. The two men planned to sell...

AP PHOTOS: Editor selections from Latin America, Caribbean

Jul. 12, 2019 12:10 AM EDT

This photo gallery highlights some of the top news images made by Associated Press photographers in Latin America and the Caribbean that were published in the past week. Mexico saw the end of another era as the world's last modern VW Beetle rolled off the production line at Volkswagen's assembly plant in Puebla....

Powell's message to Congress: Rate cut is likely coming soon

Jul. 10, 2019 4:13 PM EDT

WASHINGTON (AP) — Pointing to a weaker global economy, rising trade tensions and chronically low inflation, Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade. Delivering the central bank's semiannual report to...

Greece's new finance minister to push ahead with tax cuts

Jul. 9, 2019 12:35 PM EDT

ATHENS, Greece (AP) — Greece's new government will press ahead with tax cuts for households and businesses despite skepticism from creditors, the country's finance minister said Tuesday after he and his Cabinet colleagues were sworn in. Christos Staikouras' comments during a handover ceremony at the...

Former Argentine President De la Rua dies at 81

Jul. 9, 2019 11:26 AM EDT

BUENOS AIRES, Argentina (AP) — Former Argentine President Fernando De la Rúa, who attracted voters with his image as an honest statesman and later left as the country plunged into its worst economic crisis, died Tuesday at age 81. President Mauricio Macri sent a tweet expressing regrets at the death...