Quick Glance: Oil price approaches $95 per barrel, keeping gasoline prices high
- Oil prices are nearing $95 per barrel as production cuts from Saudi Arabia and Russia continue to impact global markets.
- Other states with higher prices include Washington ($5.05), Nevada ($4.92), Hawaii ($4.80), and Oregon ($4.70).
- Despite the fall season typically bringing lower gas prices, concerns have been raised due to recent extensions of oil production cuts.
- The US has become the leading nation in oil production outside of OPEC+ this year, according to the IEA.
Quick Glance: Fed: Open question on the need for a rate hike
- Williams keeps options open for future interest rate policy
- Acknowledges falling inflation and a more balanced economy
- No urgency for rate rise this month
- Williams made comments at Bloomberg event
Quick Glance: Decreasing Inflation, Ongoing Struggles for Americans
- Water bill higher than a year ago.
- Significant decline compared to last year's 40-year high inflation.
- Many Americans benefiting from strong wage growth surpassing price increases.
- Lower-income households struggling due to cumulative effects of inflation on finances.
Quick Glance: US Inflation Rises at Slowest Pace in Two Years
- Inflation rose 3% in June compared to the previous year, according to data, down from 4% in May.
- Inflation has significantly decreased from its peak of over 9% in June 2022, and the latest reading represents the slowest pace since March 2021.
- The increase in US inflation in June was driven by higher housing costs, as reported by the Labor Department.
- The figures highlight the relatively fast progress the US has made in controlling price increases, especially compared to the UK, where inflation reached 8.7% in May despite multiple interest rate hikes.
Quick Glance: Bank of England under fire as Rees-Mogg calls for review of inflation target
- Politicians across parties criticize Bank of England as it prepares to raise interest rates again this week.
- Bank is legally bound to target a 2% inflation rate and has been raising interest rates at every meeting since late 2021 to achieve this.
- Sir Jacob, the former business secretary, suggests that revision of the inflation target is 'probably overdue'.
- How much will my mortgage increase? Implications of next Bank of England interest rate decision on payments.
Housing markets are undergoing a fundamental shift because of higher mortgage rates and as global central banks keep up the inflation fight by hiking ... Show more #Property #Housing #RealEstate
Quick Glance: Egypt's Annual Inflation Eases for the First Time in 10 Months
- Egypt's CPI increased by 1.8% in April, slower than previous months.
- Food and beverage prices rose by 2.3% in April, with grain and bread prices up 7% and fish prices up 7.3%.
- Poultry and meat prices increased by 0.9%.
- Housing, water, electricity, natural gas, and fuel prices rose by 0.6%, while transportation prices rose by 0.9%.
On April 15, 2023, Germany's last three remaining #nuclear power plants will go off the grid despite the high #energy demand — and half the population ... Show more
Quick Glance: Germany Abandons Nuclear Power, Capping a Decade-Long Struggle
- Germany's three remaining reactors will be turned down by Saturday, effectively putting an end to nuclear power generation in Europe's largest economy.
- Nuclear power has long been a source of contention in German politics.
- It emphasized the importance of nuclear power in the development of carbon-free synthetic fuels known as green hydrogen.
- However, climate and energy experts believe that Germany's nuclear shutdown would result in just a minor, temporary rise in carbon emissions, which will be offset in the coming years by increases in solar and wind power.
- "Nuclear power plants were never designed for such a situation."
Stocks rallied Tuesday, led by the banks most beaten down by the industry's crisis, and some of Wall Street's fear washed out on hopes the U.S ... Show more http://www.koreatimes.co.kr/www/world/2023/03/501_347554.html?utm_source=fa
Companies have gone on lay-off sprees
Inflation is soaring
Fear of recession looms
What does it mean for your job?
Join Molly Gambhir on ... Show more #GravitasPlus
Since layoffs usually require hefty severance packages, create negative publicity for the firm and put fear into the workforce ... Show more
Kristalina Georgieva, head of the International Monetary Fund: U.S. economy may narrowly avoid a recession. But “our expectation towards the end of year is ... Show more https://cbsn.ws/3X8E85Y