Financial Crisis

Pandemic brings 1st Australian recession in 29 years
Jun 3, 2020

Pandemic brings 1st Australian recession in 29 years

The coronavirus pandemic has pushed Australia’s economy into recession for the first time in 29 years


With Italy at risk, Europe Central Bank could boost stimulus
Jun 2, 2020

With Italy at risk, Europe Central Bank could boost stimulus

The European Central Bank could soon be ramping up its campaign against the pandemic to more than a trillion euros


Supreme Court upholds Puerto Rico financial oversight board
Jun 1, 2020

Supreme Court upholds Puerto Rico financial oversight board

The Supreme Court says the oversight board established by Congress to help Puerto Rico out of a devastating financial crisis can continue its work


Schools nationwide brace for cuts from new financial crisis
May 30, 2020

Schools nationwide brace for cuts from new financial crisis

More than 13,000 public school districts face the possibility of sharp budget cuts as state tax revenues decline because of the COVID-19 pandemic


Trump cuts WHO funding as US economy clouds speedy recovery
May 30, 2020

Trump cuts WHO funding as US economy clouds speedy recovery

Grim employment and spending numbers have darkened the prospects for a speedy recovery in the U.S. as the economic devastation from the global coronavirus pandemic continues to spread


US consumer spending sinks by record 13.6% in face of virus
May 29, 2020

US consumer spending sinks by record 13.6% in face of virus

U.S. consumer spending plunged by a record-shattering 13.6% in April as the viral pandemic shuttered businesses, forced millions of layoffs and sent the economy into a deep recession


Lebanon removes banking secrecy rules to fight corruption
May 28, 2020

Lebanon removes banking secrecy rules to fight corruption

Lebanon's state news agency says parliament has approved a law to remove decades-old banking secrecy rules in order to better fight corruption


May 28, 2020

US economy shrank at 5% annual rate in Q1

The U.S. economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter


EU pledges to stay green in recovery from coronavirus
May 28, 2020

EU pledges to stay green in recovery from coronavirus

The European Commission is pledging to keep its ecological ambition intact as it tries to bounce back from the economic crisis triggered by the coronavirus crisis


World shares mostly higher ahead of US jobless claims data
May 28, 2020

World shares mostly higher ahead of US jobless claims data

Global markets are mostly higher as investors pin their hopes on an economic rebound from the coronavirus crisis



The Budget Report

Delivers the latest news of various finance and economic status in the ever-changing world economy to make sure everyone is up-to-date with the current trends.