U.S. President Joe Biden expressed his disappointment Thursday that OPEC+ nations intend to cut oil production targets by 2 million barrels a day but said the United States has alternatives…
more ...WTO Predicts Sharp Slowdown in Global Trade Growth
Growth in global trade flows will be dramatically lower than expected in 2023, according to a report issued Wednesday by the World Trade Organization, as Russia’s invasion of Ukraine and…
more ...OPEC Cuts Oil Production in Boost for Russia, Rebuke to Biden
The Organization of Petroleum Exporting Countries, along with Russia and other oil producers, on Wednesday slashed production by 2 million barrels a day, an action that could help Moscow pay…
more ...WTO Economists Forecast Gloomy 2023 World Trade
The World Trade Organization predicts global trade growth will slow sharply to 1 percent in 2023, down from the expected high of 3.5 percent this year. WTO economists say trade…
more ...UN Report: Fiscal Policies of Advanced Economies Risk Global Recession
U.N. economists warn the monetary and fiscal policies of advanced economies risk plunging the world into a recession worse than the financial crisis of 2008. UNCTAD, the United Nations Conference…
more ...Sources: OPEC+ to Consider Oil Output Cut of More Than 1 Million Bpd
OPEC+ will consider an oil output cut of more than a million barrels per day (bpd) when it meets on Oct. 5, OPEC sources told Reuters on Sunday. The figure…
more ...How Displaced Ukrainians in Poland Find Work While Benefiting Its Economy
Poland, far from being overwhelmed by the hundreds of thousands of Ukrainians seeking refuge from Russia’s invasion of their country, is seeing its economy grow, according to economists. The latest…
more ...UK Train Strikes, Energy Hikes Add to Week of Turmoil
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…
more ...Dining in the Dark: Brussels Eateries Tackle Energy Crunch
While European Union nations are still mulling a cap on gas prices, some businesses are more in a hurry for solutions to the continent’s energy crisis. In Brussels, the epicenter…
more ...Harris, Yellen Focus on Community Finance at Freedman Forum
Vice President Kamala Harris and Treasury Secretary Janet Yellen plan to use this year’s Freedman’s Bank Forum to highlight how federal coronavirus pandemic relief program funds have helped support Black-…
more ...Nobel Prize Season Arrives Amid War, Nuclear Fears, Hunger
This year’s Nobel Prize season approaches as Russia’s invasion of Ukraine has shattered decades of almost uninterrupted peace in Europe and raised the risks of a nuclear disaster. The secretive…
more ...Indian Proposal Threatens Nepal’s $61 Million Tea Industry
Nepali tea producers are increasingly worried about a proposal in India’s parliament that could make it much harder for them to sell tea to their giant southern neighbor and most…
more ...Report Calls Switzerland, US, Sweden World’s Most Innovative Economies
The World Intellectual Property Organization (WIPO) cites top-ranked Switzerland, followed by the United States and Sweden, as the world’s most innovative economies. WIPO uses some 80 indicators to rank the…
more ...Dow Hits 2022 Low as Markets Sell Off on Recession Fears
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 of interest rates. The…
more ...Inflation, Unrest Challenge Bangladesh’s ‘Miracle Economy’
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.…
more ...US Federal Reserve Raises Interest Rates, Promises More Pain
As the United States heads into November’s midterm elections, the Federal Reserve on Wednesday announced another sharp increase in interest rates as it continues its struggle against stubbornly high inflation.…
more ...Australia and European Union Resume Free Trade Talks
Australia and the European Union (EU) have resumed free trade talks in the Australian capital, Canberra. Negotiations over an trade agreement between Australia and the European Union began in 2017. …
more ...As ‘Buy Now, Pay Later’ Plans Grow, So Do US Delinquencies
Americans have grown fond of “buy now, pay later” services, but the “pay later” part is becoming increasingly difficult for some borrowers. Buy now, pay later loans allow users to…
more ...Biden Administration Says Rail Companies, Unions Reach Tentative Deal
U.S President Joe Biden said early Thursday major railroads and workers’ unions had reached a tentative agreement on better pay and improved working conditions intended to avert a nationwide rail…
more ...US Markets Shudder on Dashed Inflation Hopes; Dow Falls 1,250
Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points, following Wall Street’s humbling realization that inflation…
more ...Government: US Inflation Rate Eased in August, but Remains High
U.S. consumer price increases eased in August compared to a year ago, the government said Tuesday, but the drop was modest and may not be noticed much by financially squeezed…
more ...Streaming to Survive: Thailand’s Out-Of-Work Elephants in Crisis
In the northeastern village of Ban Ta Klang in Thailand, Siriporn Sapmak starts her day by doing a livestream of her two elephants on social media to raise money to…
more ...Ethiopia’s Industrial Hopes Dwindle as Conflict, Sanctions Take Toll
Ethiopia once said it wanted to become the “China of Africa” — that is, a manufacturing hub — with the help of its industrial parks. But the global economic downturn…
more ...Online Firm Helps US Minorities Borrow From Friends, Family
High inflation and soaring interest rates are taking a financial toll on many Americans, especially low-income minorities, compelling a growing number to borrow money to make ends meet, according to…
more ...Australian Central Bank Raises Interests Rates Again to Tame Inflation
Australia has followed other countries with more increases in interest rates to mitigate inflationary pressures. Economists are predicting more pain for mortgage holders after Australia’s Reserve Bank (RBA) raised interest…
more ...Tory Front-Runner Truss Vows Fast Action on Cost of Living
Liz Truss, who is widely expected to become Britain’s new prime minister this week, has pledged to act within a week to tackle a cost-of-living crisis fueled by soaring energy…
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