Latest Financial crisis News

No training, no gloves: Zimbabwe’s desperate childbirths

Nov. 18, 2019 8:19 AM EST

HARARE, Zimbabwe (AP) — When her contractions became unbearably painful, 18-year-old Perseverance Kanyoza rushed to a maternity hospital in Zimbabwe’s capital, Harare. But the doors were closed amid a weekslong strike by public health workers. With no money for private care, panic set in. A hospital...

Fed finds resilient financial system despite high debt

Nov. 15, 2019 5:54 PM EST

WASHINGTON (AP) — The Federal Reserve said Friday that corporate debt remains at historically high levels but overall the U.S. financial system is resilient, a view in sharp contrast to the problems that led to the 2008 financial crisis. In its twice-yearly “Financial Stability Report,” the...

Roseburg plywood plant lays off 30

Nov. 15, 2019 2:10 PM EST

ROSEBURG, Ore. (AP) — Roseburg Forest Products is laying off about 30 employees from its Dillard plant because of a downturn in the North American plywood market. The News-Review reported Friday that most of the employees were offered jobs at the company’s other Oregon plants. The layoffs are the...

UN envoy: As Venezuela exodus drags on many won’t go back

Nov. 14, 2019 4:49 PM EST

BOGOTA, Colombia (AP) — The Venezuela migration crisis has now entered a new stage in which many of those fleeing their country’s devastating economic downturn and political turmoil are increasingly unlikely to return, a United Nations special envoy said. Eduardo Stein told The Associated Press on...

Pope taps fellow Jesuit as Vatican’s finance minister

Nov. 14, 2019 8:26 AM EST

VATICAN CITY (AP) — Pope Francis on Thursday appointed a fellow Jesuit to be the Vatican’s finance minister, filling a crucial position left vacant for more than two years after Cardinal George Pell left Rome to stand trial on sex abuse charges in his native Australia. The appointment of the Rev....

Lebanon protests sliding into violence amid impasse

Nov. 13, 2019 11:26 AM EST

BEIRUT (AP) — A man opened fire with a shotgun over the heads of protesters in a town north of Beirut on Wednesday. It was the second shooting incident in as many days amid nationwide protests and as tensions rose in Lebanon between supporters and opponents of President Michel Aoun. There were no...

Alibaba moves closer to Hong Kong stock listing

Nov. 13, 2019 9:30 AM EST

NEW YORK (AP) — China’s Alibaba moved closer Wednesday to its anticipated listing in Hong Kong. The online retail giant filed an application to list its shares on the Hong Kong Stock Exchange, though it did not provide details on the amount of the new offering. It has long been expected to launch a...

First death reported in nationwide protests wracking Lebanon

Nov. 12, 2019 6:17 PM EST

BEIRUT (AP) — A local official for a Lebanese political party was shot dead by soldiers trying to open a road closed by protesters in southern Beirut late Tuesday, the army reported, marking the first death in 27 days of nationwide protests. An army statement said the man was shot in the Khaldeh...

Rainsy: EU trade move to bolster bid for Cambodian democracy

Nov. 12, 2019 6:53 AM EST

KUALA LUMPUR, Malaysia (AP) — Exiled Cambodian opposition leader Sam Rainsy said Tuesday the European Union's assessment of whether to suspend trade privileges for his country will add momentum to efforts to restore democracy despite a government crackdown. The EU finalized a preliminary report Tuesday...

China's Xi on investment drive in EU member Greece

Nov. 11, 2019 9:24 AM EST

ATHENS, Greece (AP) — China and Greece signed 16 bilateral agreements on Monday outlining cooperation in a broad range of sectors during a visit by Chinese President Xi Jinping aimed at furthering a major global investment initiative inside the European Union. China's state-owned shipping giant Cosco...