NEW DELHI (AP) — India will prioritize its own energy needs and continue to buy oil from Russia, its foreign minister signaled Monday, as Western governments press Moscow with a price cap to squeeze its earnings from oil exports. Minister of External Affairs Subrahmanyam Jaishankar made the comments after holding talks with his visiting German…
FRANKFURT, Germany (AP) — Major Western measures to limit Russia’s oil profits over the war in Ukraine took effect Monday, bringing with them uncertainty about how much crude could be lost to the world and whether they will unleash the hoped-for hit to a Russian economy that has held up better than many expected under…
BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation. Tokyo rose while other regional markets declined. U.S. futures gained and oil prices also advanced. Adding to worries over the potential for recession, Fitch…
KYIV, Ukraine (AP) — Russian authorities rejected a price cap on the country’s oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel….
NASHVILLE, Tenn. (AP) — The nation’s largest public utility on Friday recommended replacing an aging coal burning power plant with natural gas, ignoring calls for the Tennessee Valley Authority to speed its transition to renewable energy. TVA announced the completion of its environmental impact statement for replacing the Cumberland Fossil Plant near Cumberland City, Tennessee….
WASHINGTON (AP) — For nearly nine months, the Federal Reserve has relentlessly raised interest rates to try to slow the U.S. job market and bring inflation under control. And for just as long, the job market hasn’t seemed to get the message. The November employment report the government issued Friday was no exception. Employers added…
WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. Europe…
WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday….
TOKYO (AP) — Japan’s parliament approved a hefty 29 trillion yen ($216 billion) supplementary budget Friday aimed at countering the blow to household finances from rising food and utility costs and the weaker yen. It is the second batch of supplementary spending this year to help boost the economy. The extra spending, funded mainly by…
Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 ended 0.1% lower after having been down as much as 1.2% earlier in the…