The average price for a new vehicle in the United States soared above $49,000 in December, a record high. With Americans increasingly price conscious at a time of high inflation…
more ...US Inflation Likely Eased Again Last Month If More Gradually
U.S. inflation likely slowed again last month in the latest sign that consumer price increases are becoming less of a burden on America’s households. But Tuesday’s report from the government…
more ...Ford to Cut 3,800 Jobs in Europe, Mostly in Germany, UK
Ford said Tuesday that it will cut 3,800 jobs in Europe over the next three years in an effort to streamline its operations as it contends with economic challenges and…
more ...Pakistan’s Key Financial Bailout Talks with IMF Remain Inconclusive
Pakistan and the International Monetary Fund have held days of talks on reviving a stalled $6.5 billion bailout program but have failed to reach a deal to help prevent a…
more ...Biden Exudes Optimism for US Economy; Rest of World Expected to Face Longer Recession
US President Joe Biden celebrated his economic record this week during the annual State of the Union address. While US unemployment statistics are on the upswing, economists say there are…
more ...Through the Lens: One Year on, Russia’s War in Ukraine Hits Egypt’s Poor
CAIRO — Egypt is embroiled in cost-of-living and currency crises, in part, exacerbated by Russia’s full-scale invasion of Ukraine nearly one year ago — the fallout of which has led…
more ...US Senate Panel Questions Southwest Airlines about Holiday Failures
Southwest Airlines executives and union officials are appearing before the U.S. Senate Commerce Committee Thursday to explain the cancellation of 16,700 flights last December in the middle of the holiday…
more ...US Two-Way Trade Rose in 2022, New Data Show
The United States’ two-way trade with other nations spiked in 2022, new federal data show, including trade with China despite increasing friction between the world’s two largest economies. Even while…
more ...Biden Looks to Tout Economic Success After State of the Union Address
U.S. President Joe Biden followed up his State of the Union address with a trip Wednesday to the Midwestern state of Wisconsin to herald what he sees as the country’s…
more ...Contraband Eggs Smuggled From Mexico to US
A severe egg shortage in the U.S. is prompting a flood of unusual contraband at the U.S.-Mexico border: fresh eggs. Cesar Contreras reports this story, narrated by Veronica Villafañe. …
more ...French Pension Reform Plan Triggers New Strikes, Protests
New nationwide strikes disrupted public transport and schools, as well as power, oil and gas supplies in France Tuesday, while tens of thousands of demonstrators marched in a third round…
more ...Britain’s Sunak Shuffles Cabinet to Bolster Pledges on Economy
British Prime Minister Rishi Sunak reshuffled his cabinet on Tuesday, breaking up two departments to better suit his pledges to spur the economy and turn around his party’s fortunes before…
more ...Boeing Plans to Cut About 2,000 Finance, HR Jobs in 2023
Boeing plans to make staffing cuts in the aerospace company’s finance and human resources departments in 2023, with a loss of around 2,000 jobs, the company said. “We expect about…
more ...Global Airline Traffic Recovering to Pre-Pandemic Levels
Global airline traffic rose to over half of pre-pandemic levels in 2022 according to data released by the International Air Transport Association (IATA) Monday. Since the beginning of the pandemic,…
more ...UN Chief: World Needs ‘Wake-Up Call’
U.N. Secretary-General Antonio Guterres warned Monday that the world needs to wake up and take urgent action to change the trajectory on conflicts and geopolitical divisions, the climate crisis, and…
more ...Turmoil Threatens Financial Stability Peru Long Took for Granted
Marco Gonzales ventured to the Andean city of Cusco from his home in the Peruvian Amazon in 2007 with little more than $20, a smidgeon of English and a change…
more ...China’s Oil Demand Bounce May Push Producers to Reconsider Output, IEA Says
Oil producers may have to reconsider their output policies following a demand recovery in China, the world’s second-largest oil consumer, the International Energy Agency’s Executive Director Fatih Birol said Sunday.…
more ...Turmoil Risks Financial Stability Peru Long Took for Granted
Marco Gonzales ventured to the Andean city of Cusco from his home in the Peruvian Amazon in 2007 with little more than $20, a smidgeon of English and a change…
more ...Disney World Unions Vote Down Offer Covering 45,000 Workers
Union members voted down a contract proposal covering tens of thousands of Walt Disney World service workers, saying it didn’t go far enough toward helping employees face cost-of-living hikes in…
more ...Nigerian Authorities Call For Calm as Citizens Protest Cash, Fuel Shortages
Nigerian Central Bank authorities are calling for calm as citizens march in the streets protesting cash and fuel shortages days ahead of the February 10 deadline when the country will…
more ...Indian Tycoon Hit by Allegations of Fraud Faces Huge Losses
Indian business tycoon Gautam Adani is in the eye of a storm after a dramatic crash in the stocks of his companies. Adani’s businesses have lost more than $100 billion…
more ...US Adds 517,000 Jobs Despite Interest Rate Hikes
America’s employers added a robust 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher…
more ...Pakistan ‘Will Have to Agree’ to IMF Conditions for Bailout, PM Says
Pakistan’s Prime Minister Shehbaz Sharif said Friday the government would have to agree to IMF bailout conditions that are “beyond imagination.” An International Monetary Fund delegation landed in Pakistan on…
more ...US Federal Reserve OKs Small Interest Rate Hike, Expects More Jumps
The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet promised “ongoing increases” in borrowing costs as part of its still unresolved…
more ...Delay in Reforms Puts Pakistan’s Economy in Crisis
Pakistan is facing a severe economic crisis. Prices of staples like food and fuel are skyrocketing. The country must repay billions in external debt, but its foreign reserves are so…
more ...US Treasury to Increase Borrowing Amid Debt Ceiling Standoff
The Treasury Department said Monday it plans to increase its borrowing during the first three months of 2023, even as the federal government is bumping up against a $31.4 trillion…
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