Latest Recessions and depressions News
Economists predict US inflation will keep cooling and the economy can avoid a recession
NEW YORK (AP) — Most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under the weight of high interest rates, according to a survey released Monday. Only 24% of economists surveyed by the National Association...
OxyContin maker bankruptcy deal goes before the Supreme Court on Monday, with billions at stake
WASHINGTON (AP) — The Supreme Court is hearing arguments over a nationwide settlement with OxyContin maker Purdue Pharma that would shield members of the Sackler family who own the company from civil lawsuits over the toll of opioids. The agreement hammered out with state and local...
Lacking counselors, US schools turn to the booming business of online therapy
Trouble with playground bullies started for Maria Ishoo’s daughter in elementary school. Girls ganged up, calling her “fat” and “ugly.” Boys tripped and pushed her. The California mother watched her typically bubbly second-grader retreat into her bedroom and spend afternoons curled up in...
Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds
COLOMBO, Sri Lanka (AP) — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. ...
Sweden's economy shrinks in the third quarter to signal that a recession may have hit the country
STOCKHOLM (AP) — Sweden's economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country. Data released Wednesday by Statistics Sweden showed that the country's gross domestic product declined by 0.3% in the...
Judge enters $120M order against former owner of failed Michigan dam
DETROIT (AP) — The former owner of a Michigan dam is on the hook for roughly $120 million sought by the state for environmental damage when the structure failed after days of rain in 2020, a judge said. But it's not known how the state will ever collect: Lee Mueller has filed for...
American consumers more confident in November as holiday shopping season kicks into high gear
American consumers are feeling slightly more confident this month as the all-important holiday shopping season kicks into high gear. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 102 from 99.1 in October. Analysts were...
Sandy Hook families offer to settle Alex Jones' $1.5 billion legal debt for a minimum of $85 million
Sandy Hook families who won nearly $1.5 billion in legal judgments against conspiracy theorist Alex Jones for calling the 2012 Connecticut school shooting a hoax have offered to settle that debt for only pennies on the dollar — at least $85 million over 10 years. The offer was made...
Veev to shut down. Its CEO saw modular homes as answer to housing shortage
LOS ANGELES (AP) — Veev, a homebuilder based in Hayward, California, hoped that the construction of more modular homes could help tackle the nation’s chronic shortage of new homes. CEO Amit Haller, who co-founded the company in 2008, took part in an interview with The Associated...
The second installment of Sri Lanka's bailout was delayed. The country hopes it's coming in December
COLOMBO, Sri Lanka (AP) — The governor of Sri Lanka’s Central Bank said Friday he's confident it will receive the second instalment of a $2.9-billion bailout package from the International Monetary Fund before the end of the year, after payment was delayed due to inadequate oversight and debt...
