Latest Financial crisis News

Lebanese Cabinet agrees on 2019 austerity budget

May. 24, 2019 1:15 PM EDT

BEIRUT (AP) — Lebanese Cabinet ministers wrapped up weeks of haggling, agreeing on a 2019 draft budget that aims to avert a financial crisis by cutting public spending and reduce a ballooning deficit. Critics say the proposed measures fail to introduce structural reforms needed to rescue the flagging...

Big question for EU vote: How well will the far-right do?

May. 22, 2019 6:33 AM EDT

BRUSSELS (AP) — The elections to the European Parliament have never been so hotly anticipated, with many predicting that this year's ballot which starts Thursday will mark a coming-of-age moment for the euroskeptic far-right movement.  The elections, which run through Sunday and take place in all of...

Powell says he sees 'moderate' risk from corporate debt

May. 20, 2019 8:47 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Monday that the central bank is closely monitoring a sharp rise in corporate debt but currently does not see the types of threats that triggered the 2008 financial crisis. In remarks to a banking conference in Fernandina Beach, Florida, Powell...

Palestinians say US conference doomed without political plan

May. 20, 2019 2:10 PM EDT

JERUSALEM (AP) — The Palestinian prime minister said Monday that any American peace plan that ignores the Palestinian people's aspirations for an independent state is doomed to fail. Mohammad Shtayyeh's comments immediately cast a cloud over the American-led Mideast peace conference expected to take place...

Lebanese budget protesters clash with security in Beirut

May. 20, 2019 11:56 AM EDT

BEIRUT (AP) — Security forces opened water cannons on Lebanese anti-austerity protesters in the country's capital on Monday, as the government continued to hold marathon meetings to discuss severe budget cuts. Lebanon faces a looming fiscal crisis as the economy struggles with soaring debt, rising...

In Iran, a plunging economy trumps fears of US confrontation

May. 19, 2019 11:56 AM EDT

TEHRAN, Iran (AP) — Across Iran's capital, the talk always seems to come back to how things may get worse. Battered by U.S. sanctions and its depreciating rial currency, Iran's 80 million people struggle to buy meat, medicine and other staples of daily life. Now they wonder aloud about America's intentions...

Argentina's Fernández announces vice presidential bid

May. 18, 2019 3:18 PM EDT

BUENOS AIRES, Argentina (AP) — Argentina's former President Cristina Fernández announced on Saturday her candidacy for vice president in October's general elections, a surprising move that now puts a more moderate challenger at the helm of the presidential ticket. In a video posted on Twitter on...

Cuba bets on tourism as Trump restrictions take hold

May. 17, 2019 2:01 PM EDT

VARADERO, Cuba (AP) — The battle for Cuba's economic future is being waged on its beaches. And at its all-inclusive resorts, dive sites and cobblestoned colonial plazas. As most of Cuba's economy stagnates or declines, the country has launched a full-scale effort to turn virtually the only bright spot...

US in new push to resolve Israel-Lebanon sea border dispute

May. 15, 2019 12:49 PM EDT

BEIRUT (AP) — A senior U.S. official who has been mediating the maritime border dispute between Israel and Lebanon met with Lebanese officials Wednesday for a second day, signaling a new push to resolve the matter. Israel and Lebanon both claim some 860 square kilometers (330 square miles) of the...

Global stocks subdued as trade dispute remains in focus

May. 15, 2019 7:55 AM EDT

BEIJING (AP) — Stock markets mostly turned lower in European trading Wednesday over the trade dispute between the U.S. and China, even though President Donald Trump said a settlement was still possible. London's FTSE 100 slipped 0.1% to 7,235 while France's CAC 40 shed 0.4% to 5,321. Despite a report that...