Latest Recessions and depressions News

Asian shares mixed after Wall St barely misses bear market

May. 22, 2022 23:22 PM EDT

Shares are mixed in Asia in cautious trading after Wall Street rumbled to the edge of a bear market on Friday. Tokyo and Sydney were higher Monday while Hong Kong and Shanghai declined. Investors were awaiting minutes from the latest policy setting meeting of the...

Climate to conflict, Davos' post-COVID return has full plate

May. 22, 2022 10:03 AM EDT

DAVOS, Switzerland (AP) — Davos — the hub of an elite annual gathering in the Swiss Alps — is back, more than two years after the coronavirus pandemic kept its business gurus, political leaders and high-minded activists away. There’s no shortage of urgent issues for the World Economic...

Consumers defy inflation to support economy. For how long?

May. 22, 2022 09:43 AM EDT

WASHINGTON (AP) — With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising...

Final-hour rally yanks Wall Street from maw of bear market

May. 20, 2022 21:57 PM EDT

NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much...

US stocks got close to a bear market. Here’s what that means

May. 20, 2022 16:46 PM EDT

NEW YORK (AP) — The bear came close to Wall Street but then backed off. The stock market’s slump this year briefly pulled the S&P 500 into what's known as a bear market Friday, before a late rally put the index in the green. The prevailing sentiment among investors remains...

Editorial Roundup: New England

May. 20, 2022 13:31 PM EDT

Bangor Daily News. May 16, 2022. Editorial: New state funding is welcome as browntail moths are expected to terrorize Maine again this year Insects pollinate our crops, they serve as pest control by taking care of other problem insects, they even help clean up waste....

Depression, pandemic photographs paired in Ohio exhibit

May. 19, 2022 17:46 PM EDT

LANCASTER, Ohio (AP) — An exhibit in Ohio pairing photographs from two moments of societal crisis — the Great Depression and the COVID-19 pandemic — aims to help visitors see parallels between the human tolls felt across generations. The show, “Chronicles: The Great...

Biden's burdens grow: Sagging global economy adds to US woes

May. 18, 2022 14:30 PM EDT

WASHINGTON (AP) — As President Joe Biden embarks for Asia on Thursday, he's facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia's invasion of Ukraine and the pandemic shutting down Chinese cities and factories. The world economy...

Powell: Fed to keep hiking rates until it controls inflation

May. 17, 2022 16:43 PM EDT

WASHINGTON (AP) — Chair Jerome Powell on Tuesday underscored the Federal Reserve's determination to keep raising interest rates until there is clear evidence inflation is steadily falling — a high-stakes effort that carries the risk of causing an eventual recession. The Fed's...

Retail sales rise 0.9% in April as consumers show resilience

May. 17, 2022 11:13 AM EDT

WASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans' ability to keep ramping up spending even as inflation persists at nearly a 40-year high. The increase was driven by greater sales of cars, electronics, and at restaurants, the...