Latest Recessions and depressions News
Wall Street expects airlines to see sustained demand for travel this year
NEW YORK (AP) — Airlines expect a strong tailwind from travel demand in 2025, even though carriers could be hedged in by capacity issues. United Airlines, Delta Air Lines and several other U.S.-based carriers have all given investors strong forecasts for the year. Wall Street...
Things to know about the Trump administration order on miles per gallon for cars and pickups
DETROIT (AP) — Hours after being sworn in as the new U.S. Secretary of Transportation, Sean Duffy took aim at the main way the federal government regulates miles per gallon for cars and pickup trucks — also a principal way that it regulates air pollution and addresses climate change. Duffy...
Frontier makes a second bid for Spirit as budget airlines struggle
NEW YORK (AP) — No-frills, budget airlines often lead the industry in customer complaints, according to government data, so if one were to disappear would it be missed by travelers? That is a question U.S. regulators will be asking after Frontier Airlines said Wednesday that it...
US consumer confidence dips again to start the year, according to business group
WASHINGTON (AP) — U.S. consumer confidence dipped for the second consecutive month in January, a business research group said Tuesday. The Conference Board reported that its consumer confidence index retreated this month to 104.1, from 109.5 in December. That is worse than the...
California considers letting victims of natural disasters sue oil companies for damages
SACRAMENTO, Calif. (AP) — Oil and gas companies would be liable for damages caused by climate change -related disasters in California under legislation introduced Monday by two Democratic lawmakers. The proposal claims that the oil industry intentionally deceived the public about...
Purdue Pharma and owners to pay $7.4 billion in settlement of lawsuits over the toll of OxyContin
Members of the family who own OxyContin maker Purdue Pharma, and the company itself, agreed to pay up to $7.4 billion in a new settlement to lawsuits over the toll of the powerful prescription painkiller, the attorneys general from several states announced Thursday. The deal, agreed...
Mozambique’s ex-finance minister gets another 2.5 years behind bars in ‘tuna bonds’ corruption case
NEW YORK (AP) — Mozambique’s former finance minister has been sentenced to serve another two-and-a-half years in prison by a U.S. court for his role in the “ tuna bond ” scandal that triggered a financial crisis in the struggling African nation. Manuel Chang, 69, was...
Pakistan's premier welcomes World Bank's 10-year funding plan of $20 billion
ISLAMABAD (AP) — Pakistan's prime minister on Wednesday welcomed the first-of-its-kind agreement with the World Bank under which Islamabad will get $20 billion in funding in 10 years to invest in renewable energy, education, and social sectors. In a post on the X platform, Shehbaz...
The leader of Sri Lanka navigates the China-India rivalry on a visit to Beijing
BEIJING (AP) — Sri Lanka and China signed a series of cooperation agreements on Wednesday following talks between their leaders, one month after Sri Lankan President Anura Kumara Dissanayake made India his first overseas trip since winning election last September. The support of...
Rising borrowing costs batter UK government and threaten to derail its left-leaning program
LONDON (AP) — Britain’s new government, which is already facing anger over higher taxes, unpopular spending decisions and political scandals just six months after taking office, is now being battered by rising borrowing costs that threaten to derail its left-leaning program. The...
