WASHINGTON (AP) — Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come. The increase reported Thursday by the Labor Department reflected the 12 months ending in February and didn’t include the…
Western sanctions are dealing a severe blow to Russia’s economy. The ruble is plunging, foreign businesses are fleeing and sharply higher prices are in the offing. Familiar products may disappear from stores, and middle-class achievements like foreign vacations are in doubt. Beyond the short-term pain, Russia’s economy will likely see a deepening of the stagnation…
The European Central Bank said Thursday that it will make an early exit from its economic stimulus efforts as it combats record inflation that threatens to go ever higher as energy prices soar during Russia’s war in Ukraine. The move was a tough choice because the invasion also has exposed Europe to a potential hit…
BANGKOK (AP) — Shares fell Friday in Asia as uncertainty over the war in Ukraine and persistently high inflation keep their sway over markets. Hong Kong fell 3.6% and Tokyo was 2.4% lower. Investors are fretting over how the world economy may struggle with price pressures and slowing growth. A plan to revoke Russia’s most…
BOSTON (AP) — Ukraine’s attempt to get Russia kicked off the internet failed, but a diverse group of experts proposes a more narrow approach to sanctioning the Kremlin for invading its neighbor: Consider creating a mechanism that could technically blacklist individual Russian military and propaganda websites. In an open letter released Thursday, the activists say…
VERSAILLES, France (AP) — European Union leaders meeting in France on Thursday ruled out fulfilling Ukraine’s demand for a fast-track integration with the bloc, as they discussed ways to help the country that’s been invaded by Russia. EU nations have been fully united in backing Ukraine’s resistance, adopting unprecedented economic sanctions against Russia over the…
BELGRADE, Serbia (AP) — For some European countries watching Russia’s brutal war in Ukraine, there are fears that they could be next. Western officials say the most vulnerable could be those who aren’t members of NATO or the European Union, and thus alone and unprotected — including Ukraine’s neighbor Moldova and Russia’s neighbor Georgia, both…
Twitter has launched a privacy-protected version of its site to bypass surveillance and censorship after Russia restricted access to its service in the country. Russia has blocked access to Facebook and has limited Twitter in an attempt to try to restrict the flow of information about its war in Ukraine. Both companies have said they…
NEW YORK (AP) — A bank’s decision to loan Donald Trump’s company $100 million is the latest evidence the former president might survive fraud investigations and a business-world backlash over his efforts to stay in office after losing the 2020 election. San Diego-based Axos Bank finalized the loan with the Trump Organization on Feb. 17,…
SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom proposed sending money back to taxpayers to offset record-high gas prices but rejected calls to increase oil drilling, saying he wants to free the state “once and for all from the grasp of petro-dictators.” The average price for a gallon of gas in California is the nation’s…
