Latest Recessions and depressions News
Scrutiny of Everton's prospective buyer intensifies after airline collapse and New York fraud case
GENEVA (AP) — A grounded airline in Australia. A lawsuit in a New York federal court alleging fraud in connection to a $600 million loan. And angry soccer fans in England resisting a takeover of Premier League club Everton. These are troubled times for Miami-based 777 Partners, the...
Hospital operator Steward Health Care files for bankruptcy protection
BOSTON (AP) — Hospital operator Steward Health Care filed for bankruptcy protection early Monday morning, but pledged to maintain the eight hospitals it operates in Massachusetts. In a press release, company officials said Steward took the step as a necessary measure to allow the...
Apple's quarterly iPhone sales plunge 10%, but stock price surges on dividend, stock buyback news
Apple on Thursday disclosed its steepest quarterly decline in iPhone sales since the pandemic’s outset, deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence. The 10% drop in year-over-year iPhone...
Pro-Palestinian banners. Blazing Olympic rings. Workers' May Day rallies confront turbulent times
ISTANBUL (AP) — Workers and activists around the world marked May Day with largely peaceful protests Wednesday over rising prices, low wages and calls for greater labor rights. Pro- Palestinian sentiments were also on display. Police in Istanbul used tear gas and fired rubber...
This fiery economist became Argentina's president railing against politicians. Now he's wooing them
BUENOS AIRES, Argentina (AP) — When interviewed about his plans after a shock electoral victory last fall, Argentina's President-elect Javier Milei gave his go-to answer in a blink: “To exterminate inflation." “After that ..." he trailed off, as though searching for anything...
Confidence of US consumers continues to decline as Americans worry about the future
WASHINGTON (AP) — U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures with prices and interest rates still elevated. The Conference Board, a business research group, said Tuesday that its...
Poland is still not ready to adopt the euro, its finance minister says
WARSAW, Poland (AP) — Twenty years after joining the European Union, Poland is still not ready to adopt the euro currency, the finance minister in the pro-European Union government said. Andrzej Domański, finance minister in the Cabinet of Prime Minister Donald Tusk, said in an...
IMF approves immediate release of final $1.1 billion tranche of $3 billion bailout to Pakistan
KABUL, Afghanistan (AP) — The International Monetary Fund on Monday approved the immediate release of the final $1.1 billion tranche of a $3 billion bailout to Pakistan, the global lender said in a statement. Pakistan needs the money to overcome one of the worst economic crises in...
JPMorgan's Dimon hopes for soft landing for US economy but says stagflation is a possible scenario
NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening...
Children of Flint water crisis make change as young environmental and health activists
FLINT, Mich. (AP) — Their childhood memories are still vivid: warnings against drinking or cooking with tap water, enduring long lines for cases of water, washing from buckets filled with heated, bottled water. And for some, stomach aches, skin rashes and hair loss. Ten years ago...
