Financial crisis

FILE - In this Dec. 18, 2018, file photo, Jack Ma, center, chairman of Chinese e-commerce firm Alibaba Group, stands during a conference to commemorate the 40th anniversary of China's Reform and Opening Up policy at the Great Hall of the People in Beijing. A rich list by wealth compiler Hurun Report shows the market meltdowns in 2018 obliterated $1 trillion in wealth, with more than 212 of China's richest individuals losing their dollar billionaire status. (AP Photo/Mark Schiefelbein, File)
February 27, 2019 - 5:37 am
BANGKOK (AP) — The stock market meltdowns in 2018 obliterated $1 trillion of the fortunes of the world's richest individuals, according to a list by wealth compiler Hurun Report. The report, China's version of the Forbes rich list, showed Chinese billionaires still outnumbered those from any other...
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Federal Reserve Chairman Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on Tuesday, Feb. 26, 2019 in Washington. (AP Photo/Kevin Wolf)
February 26, 2019 - 12:48 pm
WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell's testimony to Congress (all times local): ___ 12:15 p.m. Federal Reserve Chairman Jerome Powell wraps up more than two hours of Senate testimony by giving a broader definition of what the Fed means when it says it will be "...
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February 25, 2019 - 8:29 am
BOSTON (AP) — General Electric is selling its biopharma business to Danaher Corp. for $21.4 billion as it continues to sell off chunks of a once sprawling conglomerate. The biopharma unit, part of GE Life Sciences, generated revenue of about $3 billion last year. Danaher said after tax benefits,...
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February 24, 2019 - 6:51 am
DANDONG, China (AP) — When a green-and-yellow train carrying North Korean leader Kim Jong Un rolled slowly over a bridge into the Chinese city of Dandong late Saturday, few locals took notice. "I didn't really know much about it," a 79-year-old retired farmer who gave only his surname, Shi, said...
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February 22, 2019 - 11:30 am
WASHINGTON (AP) — The Federal Reserve said Friday that in light of a slowing global economy and last year's financial market turmoil, the central bank intends to remain "patient" in determining when to make future changes in its benchmark interest rate. The Fed's semi-annual report to Congress on...
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The last sunlight is reflected in the facade of the European Central Bank as the sun sets in Frankfurt, Germany, Tuesday, Feb. 19, 2019. (AP Photo/Michael Probst)
February 21, 2019 - 7:36 am
FRANKFURT, Germany (AP) — Top officials of the European Central Bank worried at their last meeting that the slowdown in economic growth might be "deeper and more broad-based" than previously suspected. The written account of the Jan. 24 meeting released Thursday indicated the bank's 25-member rate-...
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February 19, 2019 - 11:13 pm
TOKYO (AP) — Japan's exports have fallen 8.4 percent in January from a year earlier while imports also edged lower, suggesting a deepening impact from China's economic slowdown. Customs data released Wednesday showed exports to all of Asia dropped 13 percent year-on-year, largely due to a 17...
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Presidential candidate Sen. Elizabeth Warren, D-Mass., speaks at an organizing event Sunday, Feb. 17, 2019, in Las Vegas. (AP Photo/John Locher)
February 17, 2019 - 9:23 pm
LAS VEGAS (AP) — Democrat Elizabeth Warren used her first visit to Nevada as a presidential candidate to describe a squeeze on working families and a political system that she says fails to protect homeowners, including the residents of Las Vegas who were pummeled by the mortgage crisis a decade...
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Pakistani motorcyclists pass by a billboard welcoming Saudi Arabia's Crown Prince Mohammed bin Salman displayed on the occasion of the visit by Saudi Arabia's crown prince to Pakistan, in Islamabad, Pakistan, Sunday, Feb. 17, 2019. Saudi Crown Prince Mohammed bin Salman will arrive in Islamabad on Sunday evening on an official visit that is expected to include the signing of agreements for billions of dollars of investment in Pakistan. (AP Photo/Anjum Naveed)
February 17, 2019 - 12:33 pm
ISLAMABAD (AP) — Saudi Arabia's powerful Crown Prince Mohammed bin Salman began his four-day regional visit on Sunday, arriving in Pakistan where he is expected to sign agreements worth billions of dollars to help the Islamic nation overcome its financial crisis. Prime Minister Imran Khan and top...
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Spain's Prime Minister Pedro Sanchez leaves after delivering a statement at the Moncloa Palace in Madrid, Spain, Friday, Feb. 15, 2019. Sanchez has called early general elections for late April, the third such ballot in less than four years. (AP Photo/Andrea Comas)
February 15, 2019 - 6:37 am
MADRID (AP) — Spain's Prime Minister Pedro Sanchez has called a general election for April 28 after his minority government's budget proposal was rejected by lawmakers. The election is Spain's third in less than four years — a symptom of an increasingly fragmented political landscape and a sign of...
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