Latest Financial crisis News

Indonesia president names election rival as defense minister

Oct. 23, 2019 12:16 AM EDT

JAKARTA, Indonesia (AP) — Indonesian President Joko Widodo named his defeated election rival, a former general linked to human rights abuses, as his defense minister Wednesday and added entrepreneurs and technocrats to his Cabinet to address slowing growth in Southeast Asia's largest economy. The lineup...

Blood guacamole: In Mexico, avocados bring income, cartels

Oct. 23, 2019 12:00 AM EDT

SAN JUAN PARANGARICUTIRO, Mexico (AP) — Small-scale avocado growers armed with AR-15 rifles take turns manning a vigilante checkpoint to guard against thieves and drug cartel extortionists in this town Michoacan state, the heartland of world production of the fruit locals call "green gold." The region's...

Venezuelans buy gas with cigarettes to battle inflation

Oct. 22, 2019 12:02 AM EDT

CARACAS, Venezuela (AP) — Motorists in socialist Venezuela have long enjoyed the world's cheapest gasoline, with fuel so heavily subsidized that a full tank these days costs a tiny fraction of a U.S. penny. But the economy is in such shambles that drivers are now paying for fill-ups with a little food, a...

Protesters remain despite Lebanese PM's reform package

Oct. 21, 2019 3:09 PM EDT

BEIRUT (AP) — Facing escalating mass protests, the government of Lebanese Prime Minister Saad Hariri approved Monday a package of economic reforms and a 2020 budget without new taxes, hoping to appease people in the streets. Protests swelled in the hours after the announcement, however, as many...

Hundreds of thousands of Lebanese protesters flood streets

Oct. 20, 2019 1:25 PM EDT

BEIRUT (AP) — Hundreds of thousands of Lebanese protesters of all ages flooded major cities and towns nationwide Sunday demanding an end to corruption and the rule of the country's political elite. Each hour brought hundreds more people to the streets for the largest anti-government protests yet in four...

Lebanon's Nasrallah says he's against government resignation

Oct. 19, 2019 5:49 PM EDT

BEIRUT (AP) — Lebanon's influential Hezbollah leader said Saturday he is against the government's resignation as nationwide protests gained momentum on their third day, calling for the removal of the country's political elite. Hassan Nasrallah said the current unity government should instead bring "a new...

The Latest: Lebanon party pulls out of embattled government

Oct. 19, 2019 5:27 PM EDT

BEIRUT (AP) — The Latest on anti-government protests in Lebanon (all times local): 12:20 a.m. A Lebanese Christian leader has asked his four ministers in the Cabinet to resign amid nationwide protests against the country's political elite. Samir Geagea, who heads the right-wing Lebanese Forces party, said...

Finance officials pledge to combat global economic slowdown

Oct. 19, 2019 3:42 PM EDT

WASHINGTON (AP) — Global finance officials wrapped up their fall meetings on Saturday with a pledge to "employ all appropriate tools" to combat the weakest global growth in a decade, but there was little evidence of progress in easing trade tensions, a major source of the slowdown. The policy-setting...

Faced with protests, Lebanon PM blames own gov't for crisis

Oct. 18, 2019 3:52 PM EDT

BEIRUT (AP) — Lebanon's prime minister gave his partners in government a 72-hour ultimatum to come up with "convincing" solutions for a rapidly worsening economic crisis, as nationwide protests against the country's entire ruling political class escalated. The blaze of protests was unleashed a day earlier...

Supreme Court steps into case over consumer agency

Oct. 18, 2019 3:43 PM EDT

WASHINGTON (AP) — The Supreme Court is stepping into a yearslong, politically charged fight over the federal consumer finance watchdog agency that was created in the wake of the 2008 financial crisis. The justices agreed Friday to review an appeals court decision that upheld the structure of the Consumer...