SOFIA, Bulgaria (AP) — Azerbaijan’s president said Friday that his country is a reliable partner and will stick to an agreement to double gas exports to the European Union by 2027. Speaking to reporters in Bulgaria’s capital, President Ilhan Aliyev called a new gas interconnector with Greece “a historic achievement and an opportunity for Azeri…
By Pete Schroeder WASHINGTON (Reuters) – Federal Reserve Governor Michelle Bowman said Friday that averaging bank stress test results over several years could reduce volatility in bank capital requirements, as part of a broader speech defending a lighter regulatory approach to the industry. Bowman, a Republican, argued that any efforts to further adjust rules for…
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. With energy prices skyrocketing across Europe…
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. In remarks at a conference hosted by the Federal Reserve Bank of New York, Brainard said that international…
(Fixes typo in headline) By Marc Jones LONDON (Reuters) – If global market investors thought 2022 couldn’t get any more painful or unpredictable the last few months have certainly proved them wrong. Another $9 trillion wiped off world stocks, oil down more than 20%, historic losses for bonds, war, and things became so ugly in…
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. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July, the…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla CEO Elon Musk has said a robot business will be worth more than its cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla’s “AI Day” that could prove whether the bot named “Optimus” is ready for work. The robot will…
WASHINGTON (Reuters) – U.S. consumer spending rebounded in August, but aggressive interest rate hikes from the Federal Reserve as it battles stubbornly high inflation are slowing demand, which could limit an anticipated rebound in economic activity this quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.4% last month after…
COPENHAGEN, Denmark (AP) — Russian President Vladimir Putin on Friday accused the West of sabotaging Russia-built natural gas pipelines under the Baltic Sea to Germany, a charge vehemently denied by the United States and its allies. Nordic nations said the undersea blasts that damaged the pipelines this week and have led to huge methane leaks…
PARIS (AP) — Deep under water, the pipes and cables that carry the modern world’s lifeblood — energy and information — are out of sight and largely out of mind. Until, that is, something goes catastrophically wrong. The suspected sabotage this week of gas pipelines that tied Russia and Europe together is driving home how…
