Latest Financial crisis News

OPEC, allies weigh further oil production cut in December

Sep. 12, 2019 9:16 AM EDT

ABU DHABI, United Arab Emirates (AP) — OPEC and its non-cartel allies on Thursday discussed further cuts to oil production and the possibility of Iran re-entering the global market but said that any decision would have to wait for a meeting in December. Global oil prices fell on the news as forecasts...

Few turn out as Mugabe is returned to a Zimbabwe in crisis

Sep. 11, 2019 4:27 PM EDT

HARARE, Zimbabwe (AP) — Zimbabwe's founding leader Robert Mugabe made his final journey back to the country Wednesday, his body flown into the capital amid the contradictions of his long, controversial rule. President Emmerson Mnangagwa, Mugabe's closest ally and vice president before joining the...

Friendly fire: In trade fights, Trump targets US allies, too

Sep. 11, 2019 4:20 PM EDT

WASHINGTON (AP) — President Donald Trump has risked turmoil in the financial markets and damage to the U.S. economy in waging his trade war with China, America's top strategic rival. But Trump hasn't exactly gone easy on America's friends, either. From Europe to Japan, the president has stirred up...

Europe eyes stimulus plan, but ultra-low rates raise doubts

Sep. 11, 2019 2:15 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank appears to be preparing a new shot of stimulus to try to energize the economy. But the move is sure to renew a nagging question: Can central banks do much good when rates are already ultra-low? Analysts say the bank is likely to cut a key interest rate...

Chinese auto sales sink 7.7% in August

Sep. 11, 2019 6:23 AM EDT

BEIJING (AP) — Chinese auto sales sank 7.7% in August from a year earlier extending a painful slump in the industry's biggest global market, an industry group reported Wednesday. Sales of sedans, SUVs and minivans declined to 1.6 million, according to the Chinese Association of Automobile Manufacturers....

Officials spar with senators over plan for mortgage giants

Sep. 10, 2019 1:52 PM EDT

WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners. The...

Germany aims for balanced budget to prepare for downturn

Sep. 10, 2019 7:50 AM EDT

BERLIN (AP) — Germany's finance minister is proposing a balanced budget for the coming year, withstanding calls for fresh borrowing in preparation for a possible economic downturn. Olaf Scholz told lawmakers Tuesday it was important that "with the solid financial basis we have today we can push back with...

Trump tells rally crowd: Vote for Bishop in special election

Sep. 10, 2019 7:38 AM EDT

HAVELOCK, N.C. (AP) — Trying to prove his political clout by pushing a Republican to victory in a special election , President Donald Trump used a North Carolina rally to paint a bleak picture of a nation he claimed would be overrun with crime, poverty and immigrants if Democrats seize power in Washington....

Correction: AF-Obit-Robert-Mugabe story

Sep. 9, 2019 10:41 AM EDT

HARARE, Zimbabwe (AP) — In a story Sept. 6 about the death of former Zimbabwean leader Robert Mugabe, The Associated Press reported erroneously that Mugabe was "the first post-colonial leader of what had been British-controlled Rhodesia." In fact, a white minority government in what was then known as...

Mugabe to be buried at hilltop shrine in Zimbabwe

Sep. 7, 2019 7:37 AM EDT

HARARE, Zimbabwe (AP) — Robert Mugabe will be buried at a hilltop shrine reserved exclusively for Zimbabwe's ruling elite, an official said Saturday, as the southern African nation began several days of official mourning. Mugabe, who was 95 when he died Friday in Singapore, will be laid to rest in Harare...