Financial crisis

October 15, 2019 - 5:26 pm
A new study finds that the opioid crisis cost the U.S. economy $631 billion over the past four years. The Society of Actuaries released its report Tuesday. It found the highest cost was in lost earnings for those who died in the crisis. Next was health care, a cost borne largely by Medicaid and...
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FILE - In this June 17, 2019 file photo, The Supreme Court is shown in Washington. The Supreme Court seems likely to leave in place the oversight board established by Congress to help Puerto Rico out of a devastating financial crisis that was deepened by Hurricane Maria in 2017. The justices voiced skepticism Tuesday about a constitutional challenge to the oversight board's composition that could affect more than $100 billion in debt and the island’s economic future. Hedge funds that invested in Puerto Rican bonds are leading the case against the board. (AP Photo/J. Scott Applewhite)
October 15, 2019 - 5:06 pm
WASHINGTON (AP) — The Supreme Court seems likely to leave in place the oversight board established by Congress to help Puerto Rico out of a devastating financial crisis that was deepened by Hurricane Maria in 2017. The justices voiced skepticism on Tuesday about a constitutional challenge to the...
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FILE - In this Aug. 6, 2019, file photo, a woman walks by a money exchange shop decorated with different countries currency banknotes at Central, a business district in Hong Kong. The IMF’s latest World Economic Outlook comes on the eve of meetings in Washington this week of the IMF and its sister lending organization, the World Bank. (AP Photo/Kin Cheung, File)
October 15, 2019 - 11:48 am
WASHINGTON (AP) — The International Monetary Fund is further downgrading its outlook for the world economy, predicting that growth this year will be the weakest since the 2008 financial crisis, primarily because of widening global conflicts. The IMF's latest World Economic Outlook released Tuesday...
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FILE - In this Sept. 24, 2019, file photo, Securities and Exchange Commission (SEC) Chairman Jay Clayton, center, waves to a commissioner as he takes his seat between SEC Commissioners Robert Jackson Jr., left, and Hester Peirce, at the start of a House Financial Services Committee hearing on Capitol Hill in Washington. With little fanfare, the SEC is taking steps to revamp one of the government’s most successful whistleblower programs, alarming advocates who warn the changes will set back efforts to police Wall Street and punish corporate fraud (AP Photo/Jacquelyn Martin, File)
October 12, 2019 - 10:47 am
WASHINGTON (AP) — A federal agency is moving with little fanfare to revamp one of the most successful whistleblower programs in the government, alarming advocates who warn the changes will set back efforts to police Wall Street and punish corporate fraud. Much like the whistleblower system for...
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FILE - In this Jan. 30, 2019, file photo Federal Reserve Chairman Jerome Powell speaks at a news conference in Washington. The Federal Reserve has approved a package of rules that will ease restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump, a vocal critic of the more stringent rules. (AP Photo/Alex Brandon, File)
October 10, 2019 - 5:01 pm
WASHINGTON (AP) — The Federal Reserve is easing restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump. The Fed on Thursday approved a set of rule changes that implement legislation passed by Congress last year to...
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Greece's Prime Minister Kyriakos Mitsotakis, left, speaks with the European Council President Donald Tusk during their meeting at Maximos Mansion in Athens, Wednesday, Oct. 9, 2019. EU leaders have demanded more "realism" from Britain in response to a Brexit plan proposed by British Prime Minister Boris Johnson. (AP Photo/Thanassis Stavrakis)
October 09, 2019 - 2:49 pm
ATHENS, Greece (AP) — More than a year after Greece exited its bailout programs, investors made history in the country Wednesday by buying its short-term debt at a negative yield, meaning they volunteered at least in theory to get less money back than they paid. Greece's debt management agency said...
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FILE - In this Aug. 15, 2019, file photo a "Now hiring" sign is displayed on the front door of a Staples store in Manchester, N.H. On Wednesday, Oct. 9, the Labor Department reports on job openings and labor turnover for August. (AP Photo/Charles Krupa, File)
October 09, 2019 - 11:21 am
WASHINGTON (AP) — U.S. job openings fell 1.7% in August and hires edged down, bolstering views that the labor market may lose momentum as economic uncertainty and a manufacturing recession squeeze employers. The Labor Department says employers advertised 7.1 million available jobs in August, down...
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October 08, 2019 - 5:37 pm
WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced final approval Tuesday to changes in the "Volcker rule" passed after the 2008 financial meltdown to crack down on trading excesses that contributed to the crisis. The changes were supported by the banking industry,...
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FILE - In this May 23, 2019, file photo, customers shop near a section selling Marvel Avengers toys by American toymaker Hasbro at a toy store in Beijing. The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. (AP Photo/Andy Wong, File)
AP News
October 07, 2019 - 3:37 am
WASHINGTON (AP) — The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with...
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Portuguese Prime Minister and Socialist Party leader Antonio Costa celebrates after wining the Portugal election, in Lisbon Sunday night, Oct. 6, 2019. Portugal's center-left Socialist Party has collected the most votes in Sunday's general election, leaving it poised to continue in government for another four years. (AP Photo/Armando Franca)
October 06, 2019 - 7:51 pm
LISBON, Portugal (AP) — The center-left Socialist Party got the most votes in Portugal's general election Sunday, leaving it poised to continue leading the government for another four years. With 226 seats in the 230-seat parliament awarded in the official count, the Socialists reached 106 seats,...
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