Latest Recessions and depressions News

Job growth is found to be no cure for a community's poverty

Oct. 18, 2018 5:10 PM EDT

BALTIMORE (AP) — A healthy dose of job growth has long been seen as a likely cure for poverty. But new research suggests that poor Americans are frequently left behind even when their cities or communities benefit from hiring booms. When such cities as Atlanta and Charlotte enjoyed a job surge in the 20...

Wisconsin Democrat Barnes: '09 lingerie party was 'immature'

Oct. 17, 2018 12:19 PM EDT

MADISON, Wis. (AP) — Wisconsin Democratic lieutenant governor candidate Mandela Barnes was tagged as the co-host of a lingerie party in 2009 when he was 22, extending an online invitation that joked about "stimulus packages" and used derogatory slang to refer to people who would be turned away. Barnes, now...

Business sales have healthy gain, prices up over 11 percent

Oct. 15, 2018 10:48 AM EDT

NEW YORK (AP) — As demand for small businesses increases, so do their selling prices, a sign that owners are reaping the rewards of keeping companies lean and healthy since the recession. BizBuySell.com, an online marketplace for small businesses, counted 2,685 closed sales of companies during the third...

Iceland seeks financial crash closure with last prosecution

Oct. 15, 2018 9:10 AM EDT

REYKJAVIK, Iceland (AP) — The Lehman Brothers bankruptcy threw the United States into an epoch-defining financial storm. Imagine 300 of them going bust at once. That, in relative terms, is what Iceland endured a decade ago during its banking crisis, which on this rugged island steeped in myths of gods and...

European Central Bank confident in plan to remove stimulus

Oct. 11, 2018 8:43 AM EDT

FRANKFURT, Germany (AP) — Top European Central Bank officials expressed confidence at their last meeting that inflation is trending toward levels consistent with a strong economy — more confirmation that their 2.5 trillion-euro ($2.9 trillion) stimulus program will cease at year end. The written...

Scramble for holiday season workers already near fever pitch

Oct. 10, 2018 1:17 PM EDT

WASHINGTON (AP) — Companies that depend on holiday season sales will need more workers at a time when the ranks of the unemployed have dwindled to their lowest level since the recession. Envisioning an even tougher struggle than in recent years, many are taking steps they've not tried before to recruit...

Scramble for holiday season workers already near fever pitch

Oct. 10, 2018 12:18 PM EDT

WASHINGTON (AP) — Across the country, America's retailers and shipping companies are looking happily forward to a robust holiday shopping season. There's just one concern: Who will stock the shelves, pack the orders and ring up customers? The U.S. job market is the tightest it's been in five decades,...

Scramble for holiday season workers already near fever pitch

Oct. 10, 2018 12:16 PM EDT

WASHINGTON (AP) — Across the country, America's retailers and shipping companies are looking happily forward to a robust holiday shopping season. There's just one concern: Who will stock the shelves, pack the orders and ring up customers? The U.S. job market is the tightest it's been in five decades,...

South African finance minister resigns after graft testimony

Oct. 9, 2018 11:54 AM EDT

JOHANNESBURG (AP) — South Africa's finance minister resigned on Tuesday after acknowledging missteps during the scandal-tainted tenure of former president Jacob Zuma. The resignation of Nhlanhla Nene was announced by President Cyril Ramaphosa, who has pledged to clean up corruption and revive South...

University head recommends covering controversial murals

Oct. 8, 2018 8:47 PM EDT

ALBUQUERQUE, N.M. (AP) — A blond-haired, blue-eyed man gazes forward from the decades-old, controversial mural, his arms stretched out holding the hand of a faceless Hispanic man on one side and a faceless Native American on the other. For decades, the Great Depression-era mural on the University of New...