RECESSION
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PERSIAN GULF
Global economy at risk of recession if war against Iran persists: IMF
The International Monetary Fund (IMF) warns that the global economy is at risk of a major recession if the United States fails to reach an agreement with Iran and the conflict persists.
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ECONOMY
US default could ‘cause a global financial crisis’: Yellen
US Treasury Secretary Janet Yellen has warned that the United States could see a recession and "cause a global financial crisis" if it defaults on its national debt as lawmakers grapple over raising the debt limit.
ECONOMY
US retail sales post the biggest drop in 12 months
New data shows retail sales in the US fell for the second consecutive month in December, amid concerns that the country is headed for another recession.
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