WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week. Last year at…
ISTANBUL (AP) — Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people’s finances as it follows President Recep Tayyip Erdogan’s unorthodox economic views. The Central Bank of the Republic of Turkey on Thursday lowered the benchmark rate…
KYIV, Ukraine (AP) — Russian and Ukrainian troops appeared Thursday to be girding for a major battle over the strategic southern industrial port city of Kherson, in a region which Russian President Vladimir Putin has illegally annexed and subjected to martial law. Fighting and evacuations were reported in the Kherson region as Moscow tried to…
JAY, Maine (AP) — Across the U.S., families are looking to the winter with dread as energy costs soar and fuel supplies tighten. The Department of Energy is projecting sharp price increases for home heating compared with last winter and some worry whether heating assistance programs will be able to make up the difference for…
WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week and remains historically low even as the U.S. economy slows in the midst of decades-high inflation. Jobless claims for the week ending Oct. 15 declined by 12,000 to 214,000 from 226,000 last week, the Labor Department reported Thursday. The four-week moving…
BANGKOK (AP) — Finance ministers of major Pacific Rim economies pledged Thursday to combat inflation and target spending to support sustainable growth at a meeting in Bangkok ahead of a summit next month. Asked about possible disagreements over Russia’s invasion of Ukraine, Thailand’s finance minister, host of the meeting, acknowledged there were “varying views” among…
BERLIN (AP) — German Chancellor Olaf Scholz said Thursday that Russia’s war in Ukraine mustn’t lead to a “worldwide renaissance” for coal — comments that come as Germany itself brings coal-fired power plants back online in an effort to prevent an energy crunch this winter. In a speech to parliament, Scholz highlighted his government’s efforts…
ADDIS ABABA, Ethiopia (AP) — The African Union has scheduled peace talks to resolve Ethiopia’s Tigray conflict for Oct. 24, the Ethiopian prime minister’s national security adviser said Thursday. The statement from Redwan Hussein came as fighting continued between Ethiopia’s federal government troops and the authorities in Tigray. Earlier this week, Ethiopia’s government said it…
KYIV, Ukraine — Ukraine has launched a power-saving campaign following Russian strikes on energy infrastructure. Starting Thursday, Ukrainians are being asked to reduce power usage from 7 a.m.-11 a.m.. Rolling blackouts may also occur as the country tries to response to an increasing number of repairs needed to power stations and other facilities damaged by…
ABUJA, Nigeria (AP) — A major Nigerian energy company says it cannot deliver natural gas as promised in its contracts after deadly flooding hindered its operations, raising concerns about whether Africa’s largest economy can meet increased local and international demands during an energy crisis provoked by Russia’s war in Ukraine. Nigeria LNG Limited, or NLNG,…
