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 neared landfall along 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.
Dow hits 2022 low as markets sell off on recession fears
NEW YORK (AP) — Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates.
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday:
Boeing Co., down $7.45 to $131.26.
The airplane maker will pay $200 million to settle charges that it misled investors about the safety of its 737 Max after two crashes.
LONDON (AP) — The United Kingdom's new government outlined plans Friday to cut taxes and boost spending in an effort to bolster the faltering economy, but the high-risk moves sparked concerns that increased public borrowing will worsen a cost-of-living crisis and sent the British pound on its biggest one-day drop in 2 1/2 years.
COLOGNE, Germany (AP) — For 90 years, Engelbert Schlechtrimen's family has been baking wheat rolls, rye bread and chocolate cakes in this western German city. Next month, they will turn off the ovens for good, because they can no longer afford rising energy prices resulting from Russia's war in Ukraine.
DHAKA, Bangladesh (AP) — Standing in line to try to buy food, Rekha Begum is distraught. Like many others in Bangladesh, she is struggling to find affordable daily essentials like rice, lentils and onions.
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S.
The U.S. Federal Reserve has been the most aggressive in using interest rate hikes to cool inflation that is battering both households and businesses this year.
WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation.
Applications for unemployment benefits for the week ending Sept.
ISTANBUL (AP) — Turkey’s central bank delivered another massive interest rate cut Thursday despite eye-popping inflation above 80%, moving the opposite way from world economies that are raising rates to control prices as the lira sunk to record lows.
NEW YORK (AP) —
Walmart and Target plan to begin offering deals and price matching offers earlier this year to keep up with Americans pressed by soaring inflation and looking for ways to ease the potential sting of holiday shopping.
GENEVA (AP) — Switzerland’s central bank carried out the biggest hike ever to its key interest rate Thursday, following the U.S.
LONDON (AP) — At Sophia Sutton-Jones' bakery in North London, the electricity bill has more than tripled since the start of the year. It now costs 5,500 pounds ($6,260) a month to power the ovens and keep the lights on at Sourdough Sophia.
WASHINGTON (AP) — The CEOs of the nation's biggest banks appeared in front of Congress Wednesday and gave a dim view of the U.S. economy, reflecting the financial and economic distress many Americans are facing.
WASHINGTON (AP) — The Federal Reserve sent a sobering message Wednesday after it announced its latest big interest rate hike: It plans to keep raising rates as long as it takes to conquer the worst inflation bout in decades — even at the risk of causing a recession in the process.
WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended:
Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low.
NEW YORK (AP) — Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier.
A 99-day run of falling gasoline prices — a streak that gave consumers a glimmer of hope that red-hot inflation might be cooling — has ended, with pump prices still much higher than a year ago.
The nationwide average price for a gallon ticked up less than a penny Wednesday, to $3.68 a gallon, according to AAA.
LONDON (AP) — Britain's government said Wednesday it will cap wholesale energy bills for businesses this winter to ensure companies don't go bust amid soaring energy prices.
Authorities said the government will pick up nearly half of all business energy bills for six months starting Oct.
Sales of previously occupied U.S. homes slowed in August for the seventh month in a row, as sharply higher mortgage rates and rising prices made homebuying less affordable, further cooling the once red-hot housing market.
UNITED NATIONS (AP) — Turkey’s leader, overseeing a nation encircled by regional disputes, used his speech at the U.N. General Assembly on Tuesday to shine a spotlight on Turkish maneuvering in conflicts that span from Syria to Ukraine.
THE HAGUE, Netherlands (AP) — Dutch King Willem-Alexander unveiled plans Tuesday from the Dutch government to help households squeezed by rising costs, in his annual address to the nation.
Inflation, energy prices and the war in Ukraine were just some of the “uncertainties” the country is facing, the monarch said in his annual speech, made every year on the third Tuesday in September.
COPENHAGEN, Denmark (AP) — Sweden’s central bank on Tuesday raised its key interest rate by a full percentage point to combat the highest inflation in more than 30 years, the first of a series of large hikes expected from central banks worldwide this week.
TOKYO (AP) — Asian shares mostly rose Tuesday, after Wall Street closed higher on a late buying spree following recent losses as investors await another interest rate increase by the U.S. Federal Reserve.
A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain." On Wednesday, Americans may get a better sense of how much pain could be in store.
LONDON (AP) — Royal fans have poured into the heart of London to experience the flag-lined roads, pomp-filled processions and, above all, brave a mileslong line for the once-in-a-lifetime chance to bid adieu to Queen Elizabeth II, who died after an unprecedented seven decades on the throne.
BEIJING (AP) — Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks.
FRANKFORT, Ky. (AP) — Kentucky Gov. Andy Beshear defended his record Thursday on a host of challenges — the pandemic, high consumer prices, crime and drug deaths — that are sure to surface next year when the Democrat seeks a second term.
NEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets.
U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department said Thursday.
ABUJA, Nigeria (AP) — Nigeria’s consumer inflation surged to a 17-year high in August 2022, its statistics agency said Thursday, signalling more hardship for citizens and businesses in Africa's largest economy.
BERLIN (AP) — The German government is urging companies to make a one-off payment to their employees of up to 3,000 euros (dollars) as a way of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy.