Latest Recessions and depressions News
Stock market today: Wall Street hits 2023 high as it mulls whether economy is too warm or just right
NEW YORK (AP) — Wall Street climbed back to its best level in 20 months on Friday following a stronger-than-expected report on the U.S. job market. The S&P 500 rose 0.4%, enough to clinch a sixth straight winning week for the index, which is its longest such streak in four...
A 'soft landing' or a recession? How each one might affect America's households and businesses
WASHINGTON (AP) — The solid hiring revealed in Friday's jobs report for November, along with a raft of other recent economic data, is boosting hopes that the U.S. economy will achieve a “soft landing” next year rather than a widely feared recession. A so-called soft landing...
Asian Development Bank approves a $200M loan to debt-stricken Sri Lanka
COLOMBO, Sri Lanka (AP) — The Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the country’s finance sector following an unprecedented economic crisis that engulfed the Indian Ocean island nation last year. ...
Stock market today: Asian shares are mostly up as weak jobs data back hopes for an end to rate hikes
BANGKOK (AP) — Asian shares advanced on Wednesday after most stocks slipped on Wall Street following a mixed set of reports on the U.S. economy. Hong Kong's Hang Seng gained 0.5% to 16,413.96 while the Shanghai Composite edged 0.1% higher, to 2,968.75. The gains...
How major US stock indexes fared Tuesday, 12/5/2023
Most stocks slipped on Wall Street, but the market hung near its highest level in 20 months following a mixed set of reports on the economy. The S&P 500 fell 0.1% Tuesday, the Dow fell 0.2%, and the Nasdaq composite rose 0.3%. KeyCorp led a slump for bank stocks...
Moody's cuts China credit outlook to negative, cites slowing economic growth, property crisis
HONG KONG (AP) — Credit rating agency Moody’s cut its outlook for Chinese sovereign bonds to negative on Tuesday, citing risks from a slowing economy and a crisis in its property sector. Moody’s said the downgrade, its first for China since 2017, reflects risks from financing...
Economists predict US inflation will keep cooling and the economy can avoid a recession
NEW YORK (AP) — Most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under the weight of high interest rates, according to a survey released Monday. Only 24% of economists surveyed by the National Association...
Lacking counselors, US schools turn to the booming business of online therapy
Trouble with playground bullies started for Maria Ishoo’s daughter in elementary school. Girls ganged up, calling her “fat” and “ugly.” Boys tripped and pushed her. The California mother watched her typically bubbly second-grader retreat into her bedroom and spend afternoons curled up in...
Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds
COLOMBO, Sri Lanka (AP) — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. ...
Sweden's economy shrinks in the third quarter to signal that a recession may have hit the country
STOCKHOLM (AP) — Sweden's economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country. Data released Wednesday by Statistics Sweden showed that the country's gross domestic product declined by 0.3% in the...
