Latest Recessions and depressions News
Former UAW President Owen Bieber dies aged 90
Owen Bieber, who led the United Auto Workers union from the auto industry's dark days of the early 1980s to the prosperity of the mid-1990s, has died. He was 90. Neither as charismatic as his predecessor, Douglas Fraser, nor as confrontational as his successor, Stephen Yokich, the low-key Bieber had an easygoing...
Elderly, halfhearted Florida bank robber won't be jailed
WEST PALM BEACH, Fla. (AP) — A 74-year-old Florida man whose halfhearted attempt at bank robbery was caused by depression after his wife's death will not spend any time in jail, it was announced Friday. Sandy Hawkins reached an agreement with Palm Beach County prosecutors where he will spend a year living...
Negative interest rates turn saving, borrowing upside down
FRANKFURT, Germany (AP) — Imagine a mortgage that pays you the interest, not the other way around. Or a savings account where it's the bank, not the saver, who collects interest. Welcome to the upside-down world of ultra-low and negative interest rates that is taking hold in many parts of the world where...
German economy stagnates in sign of Europe's difficulties
FRANKFURT, Germany (AP) — Growth ground to a halt at the end of the year in Germany, Europe’s largest economy, as manufacturing remained in a slump and exports fell, official figures showed Friday. The flat reading underlines the challenge facing the broader eurozone economy as it struggles against...
Bank of Mexico cuts key interest rate quarter-point to 7%
MEXICO CITY (AP) — Mexico’s central bank lowered its benchmark interest rate by a quarter-point to 7% on Thursday, seeking to stimulate an economy that entered into recession last year. In a statement, the Bank of Mexico noted “characteristics of deceleration, low inflation, accommodative...
Argentina and IMF discuss debt in shadow of 2001 crisis
BUENOS AIRES, Argentina (AP) — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund. This is a big week for one of Latin America's biggest economies, which is...
US open jobs fall sharply for 2nd straight month
WASHINGTON (AP) — U.S. businesses sharply cut the number of jobs they advertised in December for the second straight month, an unusual sign of weakness in an otherwise healthy job market. The number of available positions dropped 5.4% to 6.4 million, a historically solid number, the Labor Department said...
Liz Weston: How to navigate your most dangerous decade
Losing a job is almost always traumatic. In your 50s, job loss can be devastating — and devastatingly common. More than half the workers who entered their 50s with stable, full-time jobs were laid off or pushed out at least once by age 65, according to an analysis of employment data from 1990 to 2016 by...
AP FACT CHECK: Trump hypes 'comeback,' impeachment acquittal
WASHINGTON (AP) — President Donald Trump says the world is witnessing a great American economic revival that he brought on by reversing course from the Obama years. Yet the economy is not so different from the robust one he inherited and disparages at every turn. Trump's State of the Union speech came...
Puerto Rico's economy in limbo as governor rejects debt deal
SAN JUAN, Puerto Rico (AP) — Puerto Rico's fragile economy is facing an uncertain future after the island's governor rejected a settlement announced late Sunday with bondholders that would reduce the U.S. territory's public debt by 70%. The settlement is the biggest one to date since the island's...
LOADING MORE STORIES
