World Jan 31 Europe shows slight economic growth in final quarter of 2022 Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants.
Economy Dec 16 Gas prices have dropped but still strain some drivers Drivers now hope the situation doesn’t get worse after a series of cutbacks tied to Russia’s war in Ukraine, accidents and the slowing global economy have strained the world’s oil supply.
World Dec 05 European Union implements Russian oil price cap to limit Kremlin war chest The impact may be blunted because Russia has been able reroute much of its European seaborne shipments to China, India and Turkey, although at steep discounts. Plus, the price cap is near what Russian oil already cost.
World Nov 29 IMF director urges targeted COVID approach in China to ease global economic impact IMF Managing Director Kristalina Georgieva urged a “recalibration” of China's tough “zero-COVID" approach aimed at isolating every case “exactly because of the impact it has on both people and on the economy…
World Nov 16 European Central Bank says a recession ‘has become more likely’ It's looking more like a recession is coming in Europe. That's the takeaway from a financial stability report that the European Central Bank released Wednesday.
World Nov 11 EU forecasts recession this year amid persistent inflation The European Union's executive commission slashed its forecast for economic growth next year. It says spreading the message that the countries that use the euro currency will slide into recession over the winter will erode consumer purchasing power.
World Oct 27 Europe sees fastest interest rate hikes since the euro first launched The European Central Bank has made another outsized interest rate hike aimed at squelching out-of-control inflation, moving at the fastest pace in the euro currency's history.
Economy Oct 06 How will OPEC+ cutbacks affect oil prices, inflation? Oil cartel OPEC and its allies are cutting production. And that means oil prices are likely going up. The OPEC+ alliance says they're trying to support prices against future sagging demand from an uncertain and slowing global economy.
Economy Oct 05 OPEC+ makes sharp production cut to boost prices; gasoline costs may rise The OPEC+ alliance of oil-exporting countries has decided to sharply cut production to support sagging oil prices.
World Sep 06 Europe is facing an energy crisis as Russia cuts gas. Here’s why Europe is struggling to contain an energy crisis that could lead to rolling blackouts, shuttered factories and a deep recession. The primary cause: Russia has choked off the supplies of cheap natural gas that the continent depended on for years…