WASHINGTON—U.S. home sales surged to an eight-month high September, but higher prices as supply remains tight are squeezing out first-time buyers from the housing market. Existing home sales increased by 7.0 percent—the largest increase in a year—to a seasonally adjusted annual rate of 6.29 million units last month, the highest level since January, the National…
EU Energy Ministers Meet to Discuss Power Price Surge
Energy ministers from European Union countries will on Wednesday (September 22) discuss the soaring price of gas and electricity across Europe, as some governments draw up measures to protect their consumers. Benchmark European power prices have rocketed this year, more than trebling in Spain and elsewhere, partly because gas prices have been driven up by…
Gas Price Surge, Just One More Headwind for World Economy
LONDON—Soaring gas prices that threaten to push up winter fuel bills, hurt consumption and exacerbate a near-term spike in inflation are another blow to a world economy just getting back on its feet after the coronavirus shock. The gas market chaos, which has driven prices 280 percent higher in Europe this year and led to…
Analysis: ECB Sees a New Inflation ‘Hump’ as Prices Surge
FRANKFURT—A spike in euro zone inflation to above the European Central Bank’s target is a temporary “hump”, the ECB says—dusting off a metaphor used a decade ago by its then-president Jean-Claude Trichet. In 2011, the ECB hiked interest rates twice in four months, with Trichet yielding to German pressure despite believing that a commodity-fuelled rise…
UK Employee Numbers Surge Above Pre-Pandemic Level
LONDON—British employers added a record 241,000 staff last month, lifting the total number of employees on company payrolls to just above the level before Britain first went into a COVID-19 lockdown last year, official data showed on Tuesday. The robust jobs data comes as Britain’s government prepares to end its furlough programme on Sept. 30, which…
Alabama Governor Issues Limited State of Emergency Over COVID-19
Alabama Gov. Kay Ivey on Friday issued a state of emergency as state hospitals face a surge in COVID-19 cases. Ivey issued a limited state of emergency aimed at giving medical providers flexibility on staffing and capacity decisions and easier shipment of emergency equipment and supplies. The Republican governor stressed she would not be issuing…
Robinhood Shares Surge 50 Perccent, as Investors Scoop up ‘The Meme of Memes’
Shares of Robinhood Markets Inc rose more than 50 percent on Wednesday during a wild trading session as investors scooped up shares after its underwhelming stock market debut last week. The online brokerage’s shares closed at $70.39, off the session high of $85 when the stock was up nearly 82 percent, with one analyst dubbing…
Biden to Meet With Afghan President Ghani
June 20, 2021
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WASHINGTON—U.S. President Joe Biden will meet at the White House with Afghan President Ashraf Ghani and chairman of Afghanistan’s High Council for National Reconciliation Abdullah Abdullah on Friday to discuss U.S. troop withdrawal amid a surge in fighting between Afghan forces and the Taliban across the country. In their first face-to-face meeting, Biden will seek…
Taiwan Tightens Curbs After Surge in Domestic COVID-19 Cases
TAIPEI—Taiwan raised its coronavirus alert level on Saturday in the capital, Taipei, and the surrounding city, bringing curbs for a period of two weeks that will shut many venues and restrict gatherings in the wake of 180 new domestic infections. Masks are to be worn outdoors for the first time, as the government encourages work…
Annual Inflation Surges to 4.2 Percent, Highest in 13 Years
U.S. consumer prices have soared above economists’ predictions and by the most in more than a decade, as fiscal stimulus and booming demand pushed against supply constraints, potentially fueling market fears of a prolonged bout of higher inflation. The consumer price index (CPI) jumped by 4.2 percent for the 12 months ending in April, compared to…
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