Latest Recessions and depressions News
California governor signs package of bills giving state more power to enforce housing laws
SACRAMENTO, Calif. (AP) — California cities will soon face more state scrutiny — and new penalties — for pushing back on housing and homeless shelter construction, according to a package of laws signed Thursday by Gov. Gavin Newsom. Newsom has been cracking down on what he...
Titan submersible's scientific director says the sub malfunctioned just prior to the Titanic dive
The scientific director for the company that owned the Titan submersible that imploded last year while on its way to the Titanic wreckage testified Thursday that the sub had malfunctioned just prior to the fatal dive. Appearing before a U.S. Coast Guard panel, Steven Ross told the...
US Senate panel OKs action against Steward Health Care CEO for defying subpoena
BOSTON (AP) — Members of a U.S. Senate committee looking into the bankruptcy of Steward Health Care adopted two resolutions Thursday designed to hold CEO Ralph de la Torre in contempt — one for civil enforcement and another for criminal contempt — for not testifying before the panel. ...
Sri Lanka's presidential election a test for current leader, 2 years after its economy hit bottom
COLOMBO, Sri Lanka (AP) — Two years ago, food cart worker Fathima Shiyama had to wait in line, sometimes for days, to get cooking gas, fuel and other essentials. It was a test of patience for her and millions of other Sri Lankans as their country languished in economic and political chaos. ...
Tupperware lifts the lid on its financial problems with bankruptcy filing
NEW YORK (AP) — The company behind Tupperware, the plastic kitchenware that revolutionized food storage after World War II and became inextricably linked to the parties where women seeking a measure of financial independence and fun in midcentury America sold the colorful products, has filed for...
The Titan's former lead engineer says he felt pressured to get the submersible ready
The lead engineer for an experimental submersible that imploded en route to the wreck of the Titanic testified Monday that he felt pressured to get the vessel ready to dive and refused to pilot it for a journey several years earlier. “'I'm not getting in it,'” Tony Nissen said he...
Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?
WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's cutting its key interest rate from a two-decade peak. It's likely to be just the first in...
China hands PwC a 6-month ban and fine over audit of the collapsed developer Evergrande
HONG KONG (AP) — Chinese authorities have banned the accounting firm PwC for six months and fined it over 400 million yuan ($56.4 million) over its involvement in the audit of collapsed property developer Evergrande. The punishment is the heaviest yet for international accounting...
Senate committee to vote to hold Steward Health Care CEO in contempt
BOSTON (AP) — Members of a Senate committee looking into the Steward Health Care bankruptcy said they plan to adopt two resolutions next week to hold Steward CEO Ralph de la Torre in contempt — one for civil enforcement and another for certification to the United States Attorney for criminal...
Stock market today: Wall Street drifts as Oracle soars and banks and oil slump
NEW YORK (AP) — U.S. stocks drifted to a mixed finish on Tuesday following several weeks of sharp swings. The S&P 500 rose 0.4% to pull within 3% of its record set in July. It flipped between small gains and losses through the day, but the moves were nothing like its careens...
