Latest Financial crisis News

EXPLAINER: How months of tensions led to Sudan's coup

Oct. 25, 2021 13:13 PM EDT

CAIRO (AP) — Monday’s military coup in Sudan threatens to wreck the country’s fragile transition to democracy, more than two years after a popular uprising forced the removal of longtime autocrat Omar al-Bashir. The move comes after months of mounting tensions...

Ohio reports more deaths than births; experts cite pandemic

Oct. 25, 2021 09:45 AM EDT

COLUMBUS, Ohio (AP) — For the first time in state history, Ohio recorded more deaths than births last year, a development experts say was expedited by COVID-19. The Columbus Dispatch reported Monday that roughly 143,661 Ohioans died last year...

Supply chain woes throw sand in the gears of German economy

Oct. 25, 2021 07:59 AM EDT

FRANKFURT, Germany (AP) — A closely watched survey of German business optimism sagged for the fourth month in a row, underlining concern about the impact on Europe's largest economy from sharply higher energy prices and stubborn bottlenecks in supplies of raw materials and parts. ...

Emirati prosecutors investigating Dubai's Union Properties

Oct. 24, 2021 08:21 AM EDT

DUBAI, United Arab Emirates (AP) — Emirati prosecutors said Sunday they launched a major investigation into Dubai-based real estate developer Union Properties, saying they would probe allegations the long-troubled firm committed fraud and other offenses while trying to claw its way out of...

Pa. Rep. Kelly faces ethics scrutiny over stock purchase

Oct. 22, 2021 16:28 PM EDT

WASHINGTON (AP) — A congressional ethics watchdog has concluded there is “substantial reason to believe” that the wife of Pennsylvania Rep. Mike Kelly used nonpublic information gained through her husband's position in Congress to earn thousands of dollars through a well-timed stock...

US budget deficit hits $2.77 trillion in 2021, 2nd highest

Oct. 22, 2021 15:41 PM EDT

WASHINGTON (AP) — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020. The deficits in both years reflect trillions of dollars in government spending to counteract the devastating...

Report: Foreign aid lost in Syria exchange rate distortions

Oct. 22, 2021 14:18 PM EDT

BEIRUT (AP) — Syrian President Bashar Assad’s government benefited from variations in foreign currency exchange rates, boosting state coffers with at least $100 million in international aid money over the last two years, according to new research. The currency...

Report: Struggling Chinese developer makes bond payment

Oct. 22, 2021 01:29 AM EDT

BEIJING (AP) — A troubled Chinese developer whose struggle to avoid a multibillion-dollar debt default has rattled global financial markets wired $83.5 million on Friday to make an overdue payment to foreign bondholders, a government newspaper reported. Evergrande...

US regulators endorse efforts to address climate risks

Oct. 21, 2021 19:46 PM EDT

WASHINGTON (AP) — U.S. financial regulators on Thursday approved a series of steps toward addressing the dangers that climate change poses to the nation’s financial system. The Financial Stability Oversight Council, which is headed by Treasury Secretary Janet Yellen...

Snap's stock drops as iPhone privacy controls pinch ad sales

Oct. 21, 2021 19:25 PM EDT

SANTA MONICA, Calif. (AP) — Snapchat's corporate parent disclosed Thursday that its ad sales are being hurt by a privacy crackdown that rolled out on Apple's iPhones earlier this year, raising investor fears that the app's financial growth is going into a tailspin. The...