Latest Recessions and depressions News
Tens of thousands of Spaniards protest housing crunch and high rents in Barcelona
BARCELONA, Spain (AP) — Tens of thousands of Spaniards marched in downtown Barcelona on Saturday to protest the skyrocketing cost of renting an apartment in the popular tourist destination. Protesters cut off traffic on main avenues in the city center, holding up homemade signs in...
Moody's credit rating upgrade for Cyprus opens the door to investment, president says
NICOSIA, Cyprus (AP) — Moody’s two-notch upgrade of Cyprus' credit rating to A3 from Baa2 opens the threshold to quality foreign investment that will generate new jobs, the president said Saturday. President Nikos Christodoulides said in a statement that the rating agency’s...
US budget airlines are struggling. Will pursuing premium passengers solve their problems?
DALLAS (AP) — Delta and United have become the most profitable U.S. airlines by targeting premium customers while also winning back a significant share of travelers on a tight budget. That is squeezing smaller low-fare carriers like Spirit Airlines, which filed for bankruptcy...
Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom
Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel, stiffer competition from bigger carriers, and a failed attempt to sell the airline to JetBlue. Spirit, the biggest...
Spirit Airlines filed for bankruptcy. What does that mean for travelers?
NEW YORK (AP) — Spirit Airlines, the largest budget carrier in the U.S., filed for Chapter 11 bankruptcy protection Monday. The airline said customers should not see any disruption to their travel plans while the process unfolds. The filing followed years of struggles for the...
Company affiliated with Alex Jones seeks to disqualify The Onion's auction bid on Infowars
A company affiliated with conspiracy theorist Alex Jones asked a federal judge on Monday to disqualify a bid by the satirical news outlet The Onion to buy Jones' Infowars at a bankruptcy auction, alleging fraud and collusion. The company, First United American Companies, which is...
Greece to repay chunk of bailout debt early and touts recovery during anger over cost of living
ATHENS, Greece (AP) — Greece will make an early repayment of 5 billion euros ($5.3 billion) in bailout-era debt in 2025, Prime Minister Kyriakos Mitsotakis told a banking conference in Athens on Monday, describing the move as a signal of the country's fiscal recovery. “This ......
First batch of Boy Scout art raises over $3.7 million for those abused while scouting
DALLAS (AP) — The first batch of artwork from the Boy Scouts of America's collection raised over $3.7 million at auction Friday to help pay the compensation owed to those who were sexually abused while in scouting. The 25 works that sold are among over 300 from the Boy Scouts that...
What happens next in The Onion's effort to buy Alex Jones' Infowars
The Onion’s winning bid for Alex Jones ’ Infowars platform is under review by a federal bankruptcy judge after Jones and his lawyers complained about how an auction was conducted. The satirical news outlet was announced as the winning bidder on Thursday in an auction that is part...
UK Treasury chief says she's not satisfied by paltry third-quarter economic growth
LONDON (AP) — Britain's Treasury chief Rachel Reeves said Friday that she is “not satisfied” by official figures showing the British economy's rebound from recession slowed down sharply in the third quarter of the year, as the country's top central banker voiced his concerns about the...
