In Key Bridge collapse, Baltimore lost a piece of its cultural identity

[ad_1] BALTIMORE — Generations of Maryland workers — longshoremen, seafarers, steelworkers and crabbers whose livelihoods depend on Baltimore’s port — watched in disbelief this week as an iconic symbol of their maritime culture crumbled into the Patapsco River. The deadly collapse of the historic Francis Scott Key Bridge has shaken Baltimore to its core. “What … Read more

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX

[ad_1] Sam Bankman-Fried went from cryptocurrency golden boy to the face of the industry’s collapse. The founder and former CEO of the massive cryptocurrency exchange FTX was sentenced to 25 years in prison Thursday after being convicted of fraud for stealing at least $10 billion from customers and investors. The collapse of one of the … Read more

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors

[ad_1] NEW YORK — Former crypto mogul Sam Bankman-Fried, facing the potential of decades in prison, waited to hear his fate Thursday as a sentencing proceeding began in a New York court to assess the penalty for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading … Read more

Rationed food kept Cubans fed during the Cold War. Today an economic crisis has them hungry

[ad_1] HAVANA — Like millions of other Cubans, María de los Ángeles Pozo thinks back fondly to when a government ration book fed her family everything from hamburgers, fish and milk to chocolate and beer. People would even get cakes for birthdays and weddings. The “libreta,” as Cubans know it, was launched in July 1963 … Read more

New Zealand slips into its second recession in 18 months as economy contracts

[ad_1] WELLINGTON, New Zealand — New Zealand has entered its second recession in 18 months after the latest round of GDP figures confirmed its economy contracted in the last quarter of 2023. The country’s economy shrank by 0.1% in the quarter to December, and 0.7% in per capita terms, the New Zealand’s official statistics agency, … Read more

Why are so many voters frustrated by the US economy? It’s home prices

[ad_1] WASHINGTON — Lori Shelton can’t fathom ever having the money to buy a home — and that’s a major reason why so many voters feel down on the economy ahead of this year’s presidential election. Shelton, 67, drives an Uber to help pay rent in Aurora, Colorado. An advance on her pay covered her … Read more

African Development Bank chief criticizes opaque loans tied to Africa’s natural resources

[ad_1] LAGOS, Nigeria — The head of the African Development Bank is calling for an end to loans given in exchange for the continent’s rich supplies of oil or critical minerals used in smartphones and electric car batteries, deals that have helped China gain control over mineral mining in places like Congo and have left … Read more

Japan’s economy avoids recession by growing in last year’s final quarter, according to revised data

[ad_1] Japan’s economy managed to grow in the fourth quarter of last year, averting a recession, according to revised government data released Monday that had previously shown a contraction TOKYO — Japan’s economy managed to grow in the fourth quarter of last year, averting a recession, according to revised government data released Monday that had … Read more

Puerto Rico’s power company holds a massive debt. A key hearing to restructure it has started

[ad_1] SAN JUAN, Puerto Rico — A key hearing over the future of Puerto Rico’s crumbling power company and its staggering $9 billion debt began Monday in federal court following years of acrimonious talks between the U.S. territory’s government and creditors seeking to recover their investments. The hearing, which is expected to last up to … Read more

What recession? Professional forecasters raise expectations for US economy in 2024

[ad_1] NEW YORK — This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago, according to a survey released Monday. The economy looks set to grow 2.2% this year after adjusting for inflation, according to the National Association for Business Economics. That’s … Read more