Latest Recessions and depressions News
European Central Bank stimulus on track as economy struggles
FRANKFURT, Germany (AP) — With more than a trillion euros in stimulus still in the pipeline to the economy, the European Central Bank left its key bond-purchase program unchanged Thursday as the 19-country eurozone endures a winter economic slowdown due to the pandemic. ECB President Christine Lagarde told...
Clock ticking for CEOs to grow profits again
NEW YORK (AP) — Are better days ahead for corporate profits? They'd better be. CEOs across America have begun telling shareholders how much profit their companies made during the last three months of 2020, just as the worsening pandemic sent death rates soaring. The general expectation is for nothing...
Asian shares rise on optimism for more stimulus from Biden
TOKYO (AP) — Asian shares rose Thursday on optimism over the new U.S. administration that earlier set off a rally on Wall Street. Hopes are high that President Joe Biden's administration will mean more support for the struggling U.S. economy, setting off a recovery that's crucial for the export-driven...
Italian PM Conte works to cement majority after narrow vote
ROME (AP) — Italian Premier Giuseppe Conte worked to solidify his majority in parliament Wednesday after narrowly winning a Senate confidence vote after a junior coalition ally yanked his support over Conte’s handling of the coronavirus pandemic. Conte was expected to brief President Sergio...
Japan shares fall on pandemic worries as rest of Asia rises
TOKYO (AP) — Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as U.S. president. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's...
Yellen pushes GOP senators on $1.9 trillion relief package
WASHINGTON (AP) — Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget...
Yellen urges Congress to do more to fight pandemic recession
WASHINGTON (AP) — Treasury Secretary nominee Janet Yellen is calling on Congress to do more to fight a deep pandemic-induced recession, saying the threats of a longer and even worse downturn are too great to cut back on support now. “Without further action, we risk a longer, more painful recession...
Biden picks Chopra, Gensler for financial oversight roles
WASHINGTON (AP) — President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, now a commissioner at the Federal Trade Commission, helped launch...
Biden's test: Engineering economic boom in a partisan divide
BALTIMORE (AP) — When Joe Biden entered the White House as vice president, the economy was cratering. Job losses were mounting. Stocks were crashing. Millions of Americans were in the early stages of losing their homes to foreclosure as the housing bubble burst. Biden returns to the White House as...
Biden aims for unifying speech at daunting moment for US
President-elect Joe Biden will take the stage for his inaugural address at perhaps the most difficult starting point for a president since Franklin Roosevelt began his first term by assuring a nation scarred by the Great Depression that “we have nothing to fear but fear itself.” But memorable turns...
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