Latest Financial crisis News

COVID-19 underscores need to diversify Tahoe tourist economy

Oct. 16, 2021 19:32 PM EDT

RENO, Nev. (AP) — The COVID-19 pandemic helped expose the growing vulnerability of Lake Tahoe’s increasingly tourism-dependent economy as housing costs balloon, year-round residency declines and more workers commute from afar or seek jobs elsewhere, a new report says. ...

Analysis: Beirut street battles may spell even darker times

Oct. 16, 2021 03:09 AM EDT

BEIRUT (AP) — The most powerful men in Lebanese politics have been in charge for decades, some since the early 1970s. They’ve survived civil war, assassinations, uprisings and other turmoil, hanging on to power for decades in a turbulent, unforgiving region. Now,...

Lebanon buries 7 killed amid street battles over port probe

Oct. 15, 2021 14:22 PM EDT

BEIRUT (AP) — Lebanon on Friday mourned seven people killed in gunbattles on the streets of Beirut the previous day, a confrontation that erupted over a long-running probe into last year’s massive port blast in the city and raised fears of the country being drawn into further violence. ...

Gunbattles erupt during protest of Beirut blast probe; 6 die

Oct. 14, 2021 19:23 PM EDT

BEIRUT (AP) — Heavy gunfire broke out Thursday in Beirut during a protest organized by the Hezbollah group against the judge leading the probe into last year’s blast in the city's port. At least six people were killed and dozens wounded in the most violent street fighting in the Lebanese...

UN: Yemen economy is collapsing, humanitarian crisis rising

Oct. 14, 2021 14:53 PM EDT

UNITED NATIONS (AP) — Yemen’s economy is collapsing, its humanitarian crisis is worsening, and the conflict in the Arab world’s poorest nation is growing more violent, the U.N.’s deputy humanitarian chief said Thursday. The grim remarks by Assistant...

Many Afghans pack their bags, hoping for the chance to leave

Oct. 14, 2021 02:03 AM EDT

KABUL, Afghanistan (AP) — As their flight to Islamabad was finally about to take off, Somaya took her husband Ali’s hand, lay her head back and closed her eyes. Tension had been building in her for weeks. Now it was happening: They were leaving Afghanistan, their...

'Squid Game' strikes nerve in debt-ridden South Korea

Oct. 13, 2021 03:16 AM EDT

SEOUL, South Korea (AP) — “Squid Game," a brutal Netflix survival drama about desperate adults competing in deadly children’s games for a chance to escape severe debt, hit a little too close to home for Lee Chang-keun. The show has captivated global audiences since...

IMF foresees a slight drop in global growth from pandemic

Oct. 12, 2021 11:17 AM EDT

WASHINGTON (AP) — The International Monetary Fund is slightly downgrading its outlook for the global recovery from the pandemic recession, reflecting the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor...

The Latest: UN chief decries pandemic's harm to the poor

Oct. 11, 2021 20:07 PM EDT

UNITED NATIONS — The United Nations chief says the pandemic has forced more than 100 million people into poverty and left over 4 billion people with little or no social support, health care or income protection. Secretary-General Antonio Guterres told an International...

UN chief: Afghanistan faces `make-or-break moment'

Oct. 11, 2021 17:14 PM EDT

UNITED NATIONS (AP) — Warning that Afghanistan is facing “a make-or-break moment,” the United Nations chief on Monday urged the world to prevent the country’s economy from collapsing. Secretary-General Antonio Guterres also appealed to the Taliban to stop...