BERLIN (AP) — The German government’s panel of independent economic advisers on Wednesday slashed its 2022 growth forecast for Europe’s biggest economy in light of Russia’s invasion of Ukraine and concern over energy supplies and prices. The group forecast that Germany’s gross domestic product will expand by only 1.8% this year, compared with the 4.6%…
BERLIN (AP) — Germany and Austria activated early warning plans Wednesday amid concerns that Moscow could cut natural gas deliveries, while Poland announced steps to end all Russian oil imports by year’s end, in fresh signs of how Russia’s war in Ukraine is affecting Europe’s energy security. The German government said it was establishing a…
BEIJING (AP) — Asian stock markets sank Thursday after Chinese manufacturing weakened and Russian shelling around Ukraine’s capital shook hopes of progress in peace talks. Shanghai, Hong Kong and Tokyo declined while Seoul gained. Oil fell nearly $7 per barrel in New York but stayed above $100. Wall Street’s benchmark S&P 500 index fell 0.6%…
BEIJING (AP) — As millions of people in Shanghai line up for coronavirus tests, authorities are promising tax refunds for shopkeepers in the closed-down metropolis and to keep the world’s busiest port functioning to limit disruption to industry and trade. This week’s shutdown of most activity in China’s most populous city to contain virus outbreaks…
NEW YORK (AP) — One of the more reliable warning signals for an economic recession is starting to shine. The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern….
NEW YORK (AP) — One of the more reliable warning signals for an economic recession is starting to shine. The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern….
The Federal Trade Commission is suing TurboTax maker Intuit, saying its ads for “free” tax filing misled consumers. Intuit says it will fight the suit. The consumer protection agency said Tuesday that millions of consumers cannot actually use the free tax-prep software option — two-thirds of tax filers in 2020. They are ineligible, the agency…
WASHINGTON (AP) — The Senate on Tuesday agreed to consider the nomination of Lisa Cook for a position on the Federal Reserve’s Board of Governors on a 50-49 party-line vote. The result suggests that there is sufficient support in the evenly divided Senate to approve Cook, who would be the first Black woman to serve…
WARSAW, Poland (AP) — Poland’s government decided Tuesday to block imports of coal from Russia, part of an overarching strategy to reduce energy dependence on Russia that gained new urgency after Moscow’s invasion of Ukraine. Poland will impose financial penalties on any private entities importing Russian coal into Poland, with Polish customs officials carrying out…
BARCELONA, Spain (AP) — Amid the mayhem provoked in the world energy market by Russia’s invasion of Ukraine, Spain and Portugal have emerged in a strategically advantageous position as an “energy island” in Europe, with a relatively low reliance on Russian natural gas. Leaders in renewable energy thanks to solar, wind and hydraulic power, Spain…
