WASHINGTON (AP) — The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers are still spending, businesses keep posting profits and the economy keeps adding hundreds of thousands of jobs each month….
WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in more than three decades to tame high inflation. The Fed’s move will raise its key rate, which affects many consumer and business loans, to…
THE HAGUE, Netherlands (AP) — Dutch farmers protested government plans to reduce nitrogen emissions by dumping manure and garbage Wednesday on highways and setting fires alongside roads — the latest actions in a summer of discontent. Police urged them to stop for safety reasons and were investigating who was responsible. Traffic authorities said several roads…
Boeing Co. reported a smaller second-quarter profit that fell short of Wall Street expectations as its defense business weakened and it remained unable to deliver any of its 787 Dreamliner planes. The giant aircraft manufacturer reported a profit of $193 million Wednesday, down 67% from the second quarter of last year, on a 2% drop…
BEIJING (AP) — China’s government on Wednesday rejected as a “political lie” a report by The Wall Street Journal that Beijing tried to recruit informants in the Federal Reserve system to obtain U.S. economic data. The report, citing an investigation by a Senate panel, adds to accusations of Chinese computer hacking and other efforts to…
BERLIN (AP) — The German government plans to reduce incentive payments for buyers of electric cars and end subsidies for buying plug-in hybrids at the end of this year. The government had announced shortly after taking office in December that, starting in 2023, it would only provide payments for electric vehicles that “demonstrably have a…
BANGKOK (AP) — Shares were mostly higher in Asia on Thursday after the Federal Reserve ratcheted up its campaign against surging inflation by raising its key interest rate three-quarters of a point. Hong Kong’s benchmark Hang Seng index slipped 0.6% to 20,554.09 after the territory’s Monetary Authority matched the Fed’s 0.75 percentage point rate hike…
BERLIN (AP) — Russia’s Gazprom on Wednesday halved the amount of natural gas flowing through a major pipeline from Russia to Europe to 20% of capacity. It’s the latest Nord Stream 1 reduction that Russia has blamed on technical problems but Germany calls a political move to sow uncertainty and push up prices amid the…
Shipping companies are not rushing to export millions of tons of grain trapped in Ukraine, despite a breakthrough deal to provide safe corridors through the Black Sea. That is because explosive mines are drifting in the waters, ship owners are assessing the risks and many still have questions over how the deal will unfold. The…
DOUALA, Cameroon (AP) — Off the coast of West Africa, the Trondheim is a familiar sight: a soccer field-sized ship, plying the waters from Nigeria to Mauritania as it pulls in tons of mackerel and sardines — and flying the red, yellow and green flag of Cameroon. But aside from the flag, there is almost…
