Latest Recessions and depressions News
Morgan Stanley Smith Barney to pay $15M penalty to settle SEC charges
Morgan Stanley Smith Barney will pay a $15 million penalty as part of a settlement with the Securities and Exchange Commission related to four financial advisers who stole millions of dollars of advisory clients’ and brokerage customers’ funds. The settlement announced late...
The Onion's bid for Infowars is still in court as judge reviews auction
A bankruptcy judge scrutinizing The Onion’s bid for Alex Jones ’ Infowars platform was expected to hear a second day of testimony Tuesday after an auctioneer defended the satirical news outlet’s winning offer in November. It is not clear how quickly U.S. Bankruptcy Judge...
US added a strong 227,000 jobs in November in bounce-back from October slowdown
WASHINGTON (AP) — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a...
Chi-Chi's plans new restaurants more than 20 years after its bankruptcy
Chi-Chi’s is making a comeback. The Mexican chain said this week that it plans to open some new restaurants next year. The locations would be the first since Chi-Chi’s filed for bankruptcy protection in 2003. Michael McDermott, the son of Chi-Chi’s founder, said...
Wall Street parties like it's 1998 as AI fuels gains unmatched since dot-com era
NEW YORK (AP) — The S&P 500 is on track to close 2024 with a gain of nearly 27%, after setting 50 record highs this year. That's on top of its 24.2% spurt the year before, a spectacular two-year run unmatched since the dot-com boom. This time around, it's not dot-com stocks...
Is Enron back? If it's a joke, some former employees aren't laughing
HOUSTON (AP) — An elaborate parody appears to be behind an effort to resurrect Enron, the Houston-based energy company that exemplified the worst in American corporate fraud and greed after it went bankrupt in 2001. If its return is comedic, some former employees who lost...
What to know about the plastic pollution crisis as treaty talks conclude in South Korea
BUSAN, South Korea (AP) — The world’s nations will wrap up negotiating a treaty this weekend to address the global plastic pollution crisis. Their meeting concludes Sunday or early Monday in Busan, South Korea, where many environmental organizations have also flocked to push for...
'Everything is expensive!' Bolivia faces a shocking economic collapse
EL ALTO, Bolivia (AP) — Fuel is rapidly becoming one of Bolivia’s scarcest commodities. Long lines of vehicles snake for several kilometers outside gas stations all over Bolivia, once South America’s second-largest producer of natural gas. Some of the queues don’t budge for...
Germany's top court rejects renewable energy producers' case against use of windfall profits
BERLIN (AP) — Germany's highest court on Thursday rejected complaints by renewable energy producers against a government decision in 2022 to use their “excess profits” to help finance a cap on electricity prices. A submission to the Federal Constitutional Court by 22 generators...
Best Buy posts another quarterly sales drop while Kohl's sees slump deepen
NEW YORK (AP) — Best Buy, the nation’s largest consumer electronics chain, reported another quarterly drop in sales as Americans continued to tighten their purse strings on appliances and gadgets to focus on essentials. The Richfield, Minnesota-based retailer lowered its annual...
