Economic Crisis | featured news

Authorities in Europe and the U.S. are turning to “stealth taxes” to avoid drawing attention to the tightening fiscal noose.

Faced with a drop in gambling revenue, states are adding games, considering new casinos and increasing lottery options — anything to keep their cut of the profits rolling in.

China's central bank governor acknowledged Saturday that Beijing is using its controversial exchange-rate controls to cope with the global economic crisis and said it will be cautious about retreating from the policy....

Icelanders are set to reject the terms for repaying Anglo-Dutch debts in a referendum on Saturday, forcing new negotiations with creditors and delaying financial aid the country needs to fix its shattered economy.

Wall Street paid out $20.3 billion in bonuses in 2009, up 17 percent from a year earlier, New York State's comptroller said, as the financial industry recovered fitfully from a near meltdown.

Americans' outlook on the economy went into relapse in February. Rising job worries sent a key barometer of confidence to its lowest point in 10 months.

A Wisconsin dad drives all the way to Kansas each week to hang on to a job in tough times.

The social safety net was built for short-term gaps between jobs, but work may be scarce for years, even as the American economy shows signs of a rebound.

On the recession's front lines, governors are struggling to chart the road ahead for states staggered by unrelenting joblessness and cut-to-the-bone budgets even as Washington reports signs of economic growth.

"The worst probably is yet to come," warned Gov. Jim Douglas, R-Vt., chairman of the National Governors Association, at the group's meeting Saturday. He called the situation "fairly poor" in most states, adding that it "doesn't look too good."

Treasury Secretary Timothy F. Geithner said the government rescued American International Group Inc. to prevent a "catastrophic" blow to the U.S. economy, not to save any of AIG's counterparties.