Latest Recessions and depressions News
Massachusetts lawmakers approve bill to close loopholes in health care market
BOSTON (AP) — The Massachusetts Legislature approved a bill Monday aimed at closing loopholes in the state's health care market regulatory process exposed by the collapse of Steward Health Care. The bill is also designed to increase financial transparency by gathering more...
Zimbabwe's new currency woes hit traditional stores while illegal night bazaars flourish
HARARE, Zimbabwe (AP) — Batsirai Pabwe picked detergents, toothpaste, snacks and some pasta among several grocery items spread on the tarmac of a car parking space — an unorthodox night bazaar lit by cellphone flashlights and fluorescent lamps in Zimbabwe’s capital, Harare. ...
Scholz calls on Germans to unite in solidarity in a new year despite many crises
BERLIN (AP) — Chancellor Olaf Scholz called on Germany's 84 million residents to stick together despite the many global crises and wars, the country's ailing economy and a deadly Christmas market attack that shocked the nation. “Strength comes from solidarity. And we are a...
Value-seekers drove 2024's retail trends and dead ends
Value was in vogue in 2024. Shoppers and restaurant patrons in the U.S. were choosy about where and how to spend their money as they wrestled with high housing and food prices. Well-heeled customers traded down to Walmart and Aldi. Diners opted for fast food or home...
Big Lots reaches deal to keep hundreds of US stores open
The discount chain Big Lots, which filed for bankruptcy protection in September, has reached a deal that will keep hundreds of its stores and distribution centers open. Big Lots said Friday it will be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed...
American consumers feeling less confident in December, Conference Board says
American consumers are feeling less confident in December, a business research group says. The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Analysts forecast a rise to a reading of 113.8. Consumers had been...
The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
NEW YORK (AP) — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages. The Texas company has faced increasing competition from retailers like...
For some, the pope's big Holy Year only aggravates housing crisis as overtourism pushes out Romans
When Pope Francis left the Vatican earlier this month for his traditional Christmastime outing downtown, he acknowledged what many Romans have been complaining about for months: That his big plans for a Holy Year had turned their city into a giant construction pit, with traffic-clogging roadworks...
Iran's rial hits a record low, battered by regional tensions and an energy crisis
TEHRAN, Iran (AP) — The Iranian rial on Wednesday fell to its lowest level in history, losing more than 10% of value since Donald Trump won the U.S. presidential election in November and signaling new challenges for Tehran as it remains locked in the wars raging in the Middle East. ...
What happens next with Alex Jones' Infowars? No certainty yet after sale to The Onion is rejected
The Onion's rejected purchase of Infowars in an auction bid supported by families of the Sandy Hook Elementary shooting dealt them a new setback Wednesday and clouded the future of Alex Jones' conspiracy theory platform, which will remain in his control for at least the near future. ...
