BEIJING (AP) — Global stock markets were mixed Friday ahead of U.S. employment data investors hope will show the economy is weakening and persuade the Federal Reserve to ease off plans for more interest rate hikes.
PRAGUE (AP) — European Union leaders converged on Prague Castle on a crisp Friday morning to try to bridge significant differences over a natural gas price cap as winter approaches and Russia’s war on Ukraine fuels a major energy crisis.
WASHINGTON (AP) — President Joe Biden on Thursday effectively acknowledged the failure of one of his biggest and most humiliating foreign policy gambles: a fist-bump with the de facto leader of Saudi Arabia, the crown prince associated with human rights abuses.
WASHINGTON (AP) — More interest rate increases will be necessary to wrestle inflation under control, Federal Reserve Governor Lisa Cook said Thursday, echoing several tough speeches by other central bank officials this week.
FRANKFURT, Germany (AP) — Major oil-producing countries led by Saudi Arabia and Russia have decided to slash the amount of oil they deliver to the global economy.
BEIJING (AP) — Asian stocks were mixed Thursday after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC group of oil exporters agreed to output cuts to shore up prices.
OPEC+ makes big oil cut to boost prices; pump costs may rise
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices.
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S.
GENEVA (AP) — The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as crises and challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic.
WASHINGTON (AP) — The nation's gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday that logs America's daily finances.
PORT-AU-PRINCE, Haiti (AP) — Daily life in Haiti began to spin out of control last month just hours after Prime Minister Ariel Henry said fuel subsidies would be eliminated, causing prices to double.
WASHINGTON (AP) — The number of available jobs in the U.S. plummeted in August compared with July as businesses grow less desperate for workers, a trend that could cool chronically high inflation.
THE HAGUE, Netherlands (AP) — The Dutch government unveiled details of its planned energy price cap for households Tuesday, together with the outline of a subsidy system aimed at easing the pain for small-to-medium-sized businesses that use a lot of power.
WASHINGTON (AP) — U.S. officials celebrated in early September when top allies agreed to back an audacious, never-before-tried plan to clamp down on Vladimir Putin’s access to cash as he wages war on Ukraine.
LONDON (AP) — Trains in Britain all but ground to a halt Saturday as coordinated strikes by rail workers added to a week of turmoil caused by soaring energy prices and unfunded tax cuts that roiled financial markets.
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom on Friday announced that oil refineries could start selling more polluting winter-blend gasoline ahead of schedule to ease soaring fuel prices, directly contradicting his own goals for reducing climate pollutants.
Stocks end September down 9.3%, worst month since March 2020
NEW YORK (AP) — Wall Street closed out a miserable September with a loss of 9.3%, the worst monthly decline since March 2020.
WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials.
WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials.
BRUSSELS (AP) — European Union energy ministers on Friday adopted a package of measures to ease an energy crisis, including a levy on windfall profits of fossil fuel companies, but an agreement on capping natural gas prices that is supported by a majority of countries remained off the table.
FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power.
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation.
LONDON (AP) — Like many small business owners in Britain, Harry Niazi hoped for government help to keep his south London fish and chip shop going in the face of rocketing energy bills and soaring inflation.
BEIJING (AP) — Asian stocks sank again Friday after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened.
LONDON (AP) — British Prime Minister Liz Truss on Thursday defended her divisive economic plan and shrugged off the turmoil it has stirred in financial markets, saying she’s willing to make “controversial and difficult decisions” to get the U.K.
WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession.
LOS ANGELES (AP) — Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools.
Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic.
WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate.
BERLIN (AP) — Germany plans to spend up to 200 billion euros ($195 billion) helping consumers and businesses as surging energy prices due to the war in Ukraine are pushing Europe's largest economy into a looming recession.
WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy.
MADRID (AP) — Spain’s Socialist-led coalition government said Thursday that residents whose wealth exceeds 3 million euros ($2.9 million) will be subject to a new asset tax in 2023 and 2024.
Finance Minister María Jesús Montero described the temporary wealth tax, which she said will affect 23,000 people, or 0.1 % of taxpayers, as one of “solidarity.”
BEIJING (AP) — Asian stock markets followed Wall Street higher Thursday after Britain's central bank moved forcefully to stop a budding financial crisis.
BRUSSELS (AP) — European companies are ramping up security around pipelines and energy prices are climbing again as the suspected sabotage of two pipelines that deliver natural gas from Russia underscored the vulnerability of Europe’s energy infrastructure and prompted the EU to warn of possible retaliation.
WASHINGTON (AP) — President Joe Biden on Wednesday warned oil and gas companies against increasing prices for consumers as Hurricane Ian lashed Florida’s southwest coast.
British pound stabilizes, but turmoil still roils UK economy
LONDON (AP) — The British pound has stabilized as U.K. authorities tried to ease investor concerns after the biggest tax cuts in 50 years sent the currency tumbling to a record low.
For months, Catholic Charities of Southeast Texas has had to waitlist families hoping to join a food pantry program, as the nonprofit and other charities have struggled to meet soaring demand amid rising food prices and the end of federal pandemic relief aid.
CHAPEL HILL, N.C. (AP) — Treasury Secretary Janet Yellen warned Tuesday of economic calamity if climate change is not addressed with immediate government intervention.
Joined by local business owners and prominent Democrats in North Carolina, Yellen said the increasing frequency and severity of natural disasters could create devastating short-term supply reductions of everyday goods that could cause prices to skyrocket.
WASHINGTON (AP) — U.S. consumers grew more confident for the second month in a row as gas prices continued to fall.
The Conference Board said Tuesday that its consumer confidence index rose to 108 in September, from 103.6 in August.
Stocks were mixed in Asia on Tuesday after closing broadly lower on Wall Street, where the Dow Jones Industrial Average fell into what’s known as a bear market.
Tokyo, Sydney and Shanghai advanced while Hong Kong and Seoul declined.
WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
Lights out, ovens off: Europe preps for winter energy crisis
FRANKFURT, Germany (AP) — Europe is staring down a winter energy crisis. Russia has reduced natural gas supplies as Europe supports Ukraine, and the continent’s ability to get through the winter may depend on how cold it is and competition from Asia.
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday:
Wynn Resorts Ltd., up $7.15 to $66.80.
The casino operator gained ground on reports that the gambling haven of Macao will ease some travel restrictions starting in November.
CINCINNATI (AP) — Democratic House candidate Greg Landsman can tick off how his party's control of Congress and the White House has benefited his city.
The bipartisan infrastructure deal will mean upgrades to the heavily traveled highway bridge linking Cincinnati with its airport and northern Kentucky while bolstering a vital westside viaduct.
FRANKFURT, Germany (AP) — As Europe heads into winter in the throes of an energy crisis, offices are getting chillier.
LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S.
FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power.
PARIS (AP) — France forecasts growth to slow down substantially next year in the EU's second-biggest economy, amid fears of a recession in neighboring Germany as the economic situation in Europe is slammed by the impact of Russia’s war in Ukraine.
PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook.
FRANKFURT, Germany (AP) — Europe's largest economy is sending recession signals.
Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes.
The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020.