Latest Financial crisis News

Americans' faith in banks low after failures: AP-NORC poll

Mar. 22, 2023 17:02 PM EDT

WASHINGTON (AP) — Only 10% of U.S. adults say they have high confidence in the nation’s banks and other financial institutions, a new poll finds. That's down from the 22% who said they had high confidence in 2020. Following the collapse of Silicon Valley Bank this month, the poll...

Protesters in Beirut smash banks as Lebanese pound spirals

Feb. 16, 2023 12:53 PM EST

BEIRUT (AP) — Angry protesters in Lebanon Thursday smashed windows and set tires on fire outside two of the country's biggest banks in the capital city, as the value of the local currency hit a new low and poverty deepens. Lebanon’s economic meltdown and unprecedented financial...

China confirms offer to Sri Lanka of debt moratorium

Feb. 03, 2023 06:15 AM EST

BEIJING (AP) — China’s government on Friday confirmed it is offering Sri Lanka a two-year moratorium on loan repayments as the Indian Ocean island nation struggles to restructure $51 billion in foreign debt that pushed it into a financial crisis. China lent to Sri Lanka as part...