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Economy

Markets Plunge as a Global Recession Appears Almost Inevitable

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The Federal Reserve committed hundreds of billions of dollars to steadying the financial markets. The S&P 500 plummeted nearly 12 percent anyway. Financial markets imploded again on Monday, as increasingly alarmed investors feared that the global economy could experience a downturn rivaling the cataclysmic recession after the financial crisis a ...

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Markets plunge, Italy locked down as virus spreads

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Financial markets around the world crashed Monday and a swathe of northern Italy was sealed off as authorities struggled to contain the spread and impact of the deadly coronavirus. An area home to a quarter of Italy’s population was effectively shuttered — including Milan and Venice — mimicking a lockdown ...

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Oueidat suspends order to freeze assets of 21 banks

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State Prosecutor Ghassan Oueidat suspended Thursday an order to freeze the assets of 21 Lebanese banks, warning it would plunge the country and its financial sector into chaos. Oueidat said international financial authorities had intended to halt dealings with Lebanese banks, without giving further details. Earlier Thursday, a judge stunned ...

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France is Lobbying to Save Lebanon from Economic Collapse

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Paris believes that the situation in Lebanon “cannot wait any longer.” Since Lebanon’s independence from the French Mandate in 1943, Lebanon and France have enjoyed mutually “friendly” relations, with France having had an evident “influence” in Lebanon’s political-administrative system that was initially modeled after the French’s Third Republic. France has ...

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