Latest Financial crisis News

Venezuelans find ways to cope with inflation and hunger

Mar. 19, 2019 10:41 PM EDT

CARACAS, Venezuela (AP) — Francibel Contreras brings her three malnourished children to a soup kitchen in the dangerous hillside Caracas slum of Petare where they scoop in spoonfuls of rice and scrambled eggs in what could be their only meal of the day. Part of the tragedy of daily life in socialist...

3 things to watch for from the Federal Reserve on Wednesday

Mar. 19, 2019 11:11 AM EDT

WASHINGTON (AP) — The Federal Reserve is considered sure to leave its key short-term interest rate unchanged Wednesday and to stress its new watchword — "patient"— in conveying its intention to leave rates alone for the foreseeable future. The Fed has made clear that with a dimmer economic...

Alan Krueger, noted economist who served Obama, has died

Mar. 18, 2019 5:40 PM EDT

Alan Krueger, a groundbreaking Princeton University economist who served as a top adviser in two Democratic administrations and was an authority on the labor market, has died, according to a statement from the university Monday. The economist took his own life during the weekend, according to a separate statement...

Fresh rallies against al-Bashir as Sudan secures $300M loans

Mar. 17, 2019 11:51 AM EDT

CAIRO (AP) — Hundreds of Sudanese took part in anti-government protests in the capital and other cities on Sunday as the government announced it had secured $300 million in loans to address the economic crisis that triggered the unrest. The demonstrations began in December over price hikes and food...

Venezuelan opposition leader takes campaign to northern city

Mar. 16, 2019 6:23 PM EDT

VALENCIA, Venezuela (AP) — Venezuelan opposition leader Juan Guaido embarked on a new stage of his campaign to oust President Nicolas Maduro on Saturday as the rivals held competing rallies in the capital of Caracas, a pattern which has unfolded repeatedly as both sides attempt to convey strength....

Greece backs Bolivian leader's call for Venezuela dialogue

Mar. 15, 2019 9:25 AM EDT

ATHENS, Greece (AP) — Greece on Friday backed calls by Bolivia's left-wing President Evo Morales for a negotiated settlement to the severe political and financial crisis in Venezuela, in what marks a different approach to that pursued by key European allies. Many European Union countries are among 50...

Bolivia's Morales, in Greece, backs Venezuela's Maduro

Mar. 14, 2019 6:57 PM EDT

ATHENS, Greece (AP) — Bolivia's left-wing president on Thursday compared Venezuelan opposition leader Juan Guaido to an erstwhile colonial viceroy and spoke out against any military intervention in the troubled country. "Are we returning to colonial times?" Evo Morales said in a speech in Athens, during a...

Eastman Chemical, Conduit Global cutting jobs in Tennessee

Mar. 14, 2019 4:38 PM EDT

MEMPHIS, Tenn. (AP) — Eastman Chemical Co. said Thursday that it is cutting an undisclosed number of jobs globally, citing "the ongoing U.S.-China trade dispute" and an economic slowdown in Europe. In a statement from company spokeswoman Betty Payne, the chemical and plastics manufacturer said it has seen...

China's auto sales contraction worsens in February

Mar. 14, 2019 6:50 AM EDT

BEIJING (AP) — The downturn in China's auto market worsened in January and February as an economic slowdown and a tariff fight with Washington chilled demand in the industry's biggest global market. Sales of SUVs, minivans and sedans plunged 17.5 percent from a year earlier to 3.2 million SUVs, minivans...

Amid crisis, Cuba plans revamp of state and legal system

Mar. 14, 2019 12:20 AM EDT

HAVANA (AP) — In the midst of a regional crisis over Venezuela and tough economic straits, the Cuban government is about to launch a sweeping makeover of its centrally planned, single-party system with dozens of new laws that could reshape everything from criminal justice to the market economy. Nearly a...