Latest Recessions and depressions News

'China threat' emerges in elections from UK to Australia

Aug. 14, 2022 12:23 PM EDT

LONDON (AP) — It's not just the economy. While inflation and recession fears weigh heavily on the minds of voters, another issue is popping up in political campaigns from the U.K. and Australia to the U.S. and beyond: the “China threat." The two finalists vying to become...

Wall Street extends winning streak to 4th week

Aug. 12, 2022 17:00 PM EDT

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain. The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn't posted such a good stretch since November. ...

UK economy shrinks in 2nd quarter, sharpening recession fear

Aug. 12, 2022 05:09 AM EDT

LONDON (AP) — The United Kingdom's economy shrank in the three months to June, figures released Friday showed — a smaller-than-expected contraction that nevertheless added to jitters about the rocky months ahead. The Office for National Statistics said Britain’s gross domestic...

Asian shares mixed after new signs of cooling inflation

Aug. 12, 2022 00:47 AM EDT

BANGKOK (AP) — Shares were mixed Friday in Asia after a muddled day on Wall Street, where benchmarks meandered following another encouraging report about inflation. Tokyo’s Nikkei 225 surged 2.5%, catching up on gains after being closed Thursday for a holiday. Hong Kong and...

US unemployment claims rise by 14,000 to 262,000

Aug. 11, 2022 09:01 AM EDT

WASHINGTON (AP) — The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength. Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five...

Asian shares track Wall Street gains on cooling inflation

Aug. 11, 2022 00:18 AM EDT

BANGKOK (AP) — Shares advanced Thursday in Asia after benchmarks closed at three-month highs on Wall Street as investors cheered a report showing inflation cooled more than expected in July. Hong Kong, Shanghai and Seoul saw gains of more than 1%. Tokyo was closed for a holiday....

Lower prices offer Americans slight reprieve from inflation

Aug. 10, 2022 16:16 PM EDT

WASHINGTON (AP) — Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Consumer prices jumped 8.5% in July compared with a year earlier, the...

In race to win, UK Conservatives accused of ignoring crises

Aug. 10, 2022 03:51 AM EDT

LONDON (AP) — As Britain swelters through a roasting summer, and braces for a cold financial reckoning in the fall, calls for the Conservative government to act are getting louder. But the Conservatives are busy choosing a new leader, through a prolonged party election whose...

American Airlines CFO on fixing balance sheet after pandemic

Aug. 08, 2022 12:40 PM EDT

FORT WORTH, Texas (AP) — Derek Kerr might have the hardest job in the airline business. Kerr is the chief financial officer of American Airlines, and his task is to fix a balance sheet that has been battered by borrowing needed to survive the pandemic. American has...

Wall Street falls as jobs data suggests Fed hikes not over

Aug. 05, 2022 16:50 PM EDT

NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street. The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as...