Business

Size, scope of FTX failure gets clearer as users fear worst

Just days after cryptocurrency's third-largest exchange collapsed, the public is starting to get an idea of how messy FTX's bankruptcy case could be. Other crypto firms are failing as a result of FTX's unraveling, events ...

Business

Google promises Greece 20K jobs with cloud expansion

Google announced plans Thursday to expand its cloud services infrastructure to Greece, promising to create nearly 20,000 jobs through direct investment and partnerships by the end of the decade.

Business

Toshiba: Japan's troubled megacorp

Once a symbol of Japan's advanced technology and economic power, Toshiba has been rocked by turbulence in recent years.

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Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus, however, and financial crises are still a regular occurrence around the world.

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