Latest Financial crisis News

Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing about the government’s emergency aid to the economy in response to the coronavirus on Capitol Hill in Washington on Tuesday, Sept. 22, 2020. (Caroline Brehman/Pool via AP)

Powell and Mnuchin voice optimism but back more economic aid

Sep. 22, 2020 1:13 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. Powell told the House...

In this photo provided by the United Nations, Jair Bolsonaro, president of Brazil, speaks in a pre-recorded message played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. Headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from some of the planet's biggest powers, kept at home by the coronavirus pandemic that will likely be a dominant theme at their video gathering this year. (Rick Bajornas/UN via AP)

Bolsonaro to world: Brazil is victim of environmental smear

Sep. 22, 2020 12:47 PM EDT

RIO DE JANEIRO (AP) — Brazilian President Jair Bolsonaro defended his administration’s record protecting the Amazon rainforest, telling the United Nations’ virtual meeting of global leaders on Tuesday that his country has been wrongly portrayed as an environmental villain. Bolsonaro's critics...

In this image made from UNTV video, Chinese President Xi Jinping speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from some of the planet's biggest powers, kept at home by the coronavirus pandemic that will likely be a dominant theme at their video gathering this year. (UNTV via AP)

China's Xi: COVID reveals isolationism as a futile pursuit

Sep. 22, 2020 12:28 PM EDT

China's leader took oblique potshots at the United States and its foreign policies Tuesday, cautioning in a U.N. address that the world must “not fall into the trap of a clash of civilizations" — remarks played minutes after delegates heard the American president insist that the United Nations...

In this image made from UNTV video, United States President Donald Trump speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at U.N. headquarters in New York. The U.N.'s first virtual meeting of world leaders started Tuesday with pre-recorded speeches from some of the planet's biggest powers, kept at home by the coronavirus pandemic that will likely be a dominant theme at their video gathering this year. (UNTV via AP)

UN chief: 'epochal' crisis as world powers meet remotely

Sep. 22, 2020 12:00 PM EDT

UNITED NATIONS (AP) — Secretary-General Antonio Guterres warned the U.N.’s first-ever virtual meeting of global leaders Tuesday that the world is facing an “epochal” health crisis, the biggest economic calamity and job losses since the Great Depression, threats to human rights —...

People gather at the Supreme Court to honor the late Justice Ruth Bader Ginsburg, Saturday, Sept. 19, 2020, in Washington.  (AP Photo/Cliff Owen)

2020 Watch: Is this suddenly a new election?

Sep. 21, 2020 1:00 PM EDT

NEW YORK (AP) — Presidential politics move fast. What we’re watching heading into a new week on the 2020 campaign: Days to general election: 43 Days to first debate: 8 ___ THE NARRATIVE The October surprise of 2020 came early. The death of Ruth Bader Ginsburg injects another generational fight to...

FILE - In this Sept. 1, 2020 file photo, French President Emmanuel Macron, left, smiles as he meets Lebanon's President Michel Aoun at the presidential palace in Baabda, Lebanon, Tuesday, Sept. 1, 2020. In a televised address Monday, Sept. 21, 2020, Aoun warned that the crisis-hit country could be going to “hell” if a new government is not formed. An initiative led by Macron called for a Lebanese government of independent specialists that was to be formed by Sept. 15. (Gonzalo Fuentes/Pool via AP, File)

Lebanese president warns of 'hell' if no new gov't formed

Sep. 21, 2020 10:31 AM EDT

BEIRUT (AP) — Lebanon's president said Monday that the crisis-hit country could be going to “hell” if a new government was not formed, suggesting it would require a “miracle” for that to happen at this point. The stark warning comes as the country struggles to contain a...

An honor guard with the American Legion Post 374 of Millard wear face masks against COVID-19 present arms during the graveside service of David Owen Cary at the Omaha National Cemetery in Omaha, Neb., Thursday, Sept. 17, 2020. (AP Photo/Nati Harnik)

The Latest: New Zealand to end restrictions except in 1 city

Sep. 20, 2020 10:11 PM EDT

WELLINGTON, New Zealand: All remaining virus restrictions will be lifted across much of New Zealand from late Monday with the exception of the largest city, Auckland, which will continue to have some restrictions for at least another 16 days. Prime Minister Jacinda Ardern made the announcement Monday after...

Southwest Georgia steel fabricator closes, laying off 128

Sep. 19, 2020 3:28 PM EDT

THOMASVILLE, Ga. (AP) — A steel fabricator is closing in southwest Georgia, laying off 128 employees. Alpharetta-based Cives Corp. is closing its Thomasville location, leaving it with seven nationwide. Cives President Greg Orff told the Thomasville Times-Enterprise that the economic downturn sparked by the...

Peru's President Martin Vizcarra greets reporters after addressing Congress in Lima, Peru, Friday, Sept. 18, 2020. Vizcarra’s job is on the line Friday as opposition lawmakers push through an impeachment hearing criticized as a hasty and poorly timed ouster attempt in one of the countries hardest hit by the coronavirus pandemic. (AP Photo/Rodrigo Abd)

Peru president survives impeachment vote amid virus turmoil

Sep. 18, 2020 11:36 PM EDT

LIMA, Peru (AP) — Peruvian President Martín Vizcarra easily survived an impeachment vote Friday night after opposition lawmakers failed to amass enough support to oust the leader as the country copes with one of the world’s worst coronavirus outbreaks. The decision came after long hours of...

Lebanese Afaf Adulhamid the mother of Mohammed Khaldoun, 27, who is still missing at sea while he was trying with other migrants to reach Cyprus on a boat, cries and prays her son's safe return, as she stands on the coast of Tripoli city, north Lebanon Thursday, Sept. 17, 2020. Mohammed is one of scores of people who have tried in recent weeks to flee Lebanon that is passing through its worst economic and financial crisis in decades to European Union member Cyprus. (AP Photo/Hussein Malla)

One family's desperate, deadly attempt to flee Lebanon

Sep. 18, 2020 3:18 PM EDT

TRIPOLI, Lebanon (AP) — Mohammed Sufian did not dream of much: a job, food on the table, the chance to buy his 2½-year-old son the little things a toddler wants. So when he heard that smugglers were taking people from his hometown of Tripoli to the nearby Mediterranean island of Cyprus, he decided to...