NUSA DUA, Indonesia—The head of the World Trade Organization (WTO) warned on Wednesday that several major economies face a real risk of sliding into recession as the war in Ukraine, rising food and fuel costs, and soaring inflation cloud the global outlook. “It may not happen everywhere, but several key countries risk sliding into recession,”…
WTO Warns of ‘Real’ Recession Risk in Some Major Economies
Rivers of Drought Imperil Industrial Economies
Commentary The River of Doubt, Rio da Duvida, now known as the Roosevelt River, is a tributary of the Aripuanã River, which, in turn, via the Madeira River, flows into the Amazon. It nearly killed Theodore Roosevelt after he was the first white man to explore it following his loss during the 1912 presidential election. It’s…
Germany’s Lindner Says Europe Will Be Able to Shield Its Economies Against Inflation Rising Over Ukraine War
PARIS—European sanctions against Russia over the war in Ukraine will lead to cost increases, German Finance Minister Christian Lindner said, but the bloc will be able to protect its economies against the effects of further inflation. Lindner spoke ahead of a European finance ministers’ meeting in Paris which is due to focus largely on the…
US Debt Ceiling Deadline Could Extend to January: Wrightson ICAP
WASHINGTON—The U.S. Treasury could be able to fund government operations into the first half of January without a debt ceiling increase, according to a new estimate by money market research firm Wrightson ICAP on Monday. Wrightson said in a note to clients that based on the Treasury’s debt issuance plans, the department should be able…
US Bank Stocks Rise as Industry Welcomes Powell Renomination
NEW YORK—U.S. bank stocks rose on Monday as senior bankers and industry figures welcomed Federal Reserve Chair Jerome Powell’s nomination by President Joe Biden for a second four-year term. Biden, in a statement emailed to reporters, paid tribute to the “decisive action” which the Fed had taken in response to the COVID-19 pandemic. And senior…
S&P 500, Nasdaq Hit Record Highs After Powell Nomination
The S&P 500 and the Nasdaq hit record highs on Monday after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the bank for a second term, keeping the status quo as the central bank plans to wind down pandemic-era stimulus. The Dow Jones Industrial Average rose 29.43 points, or 0.08 percent, at…
Afghan Banking System Facing Existential Crisis: UNDP Report
The United Nations warned Monday that Afghanistan’s banking system is on the verge of collapse because of consumers unable to repay loans, fewer deposits, and other liquidity problems, leading to a social crisis in an already fragile economy. “Afghanistan’s financial and bank payment systems are in disarray,” the United Nations Development Programme (UNDP) said in…
Australian Tycoon to Help Small Publishers Strike Deals With Google, Facebook
SYDNEY—Australian small publishers will get a leg up in their fight to secure licensing deals with Google and Facebook after the country’s richest person said his philanthropic organisation would seek a collective bargaining arrangement for them. The Minderoo Foundation, owned by Andrew Forrest, chairman of iron ore miner Fortescue Metals Group, plans to help 18…
Germany’s Economy Is Taking a Breather but Inflation Isn’t, Bundesbank Warns
FRANKFURT—The German economy is taking “a breather” as a lack of goods and labour as well as new restrictions designed to fight the coronavirus pandemic put an end to its recent boom, the country’s central bank said on Monday. The Bundesbank also warned that inflation in Europe’s largest economy was likely to stay well above…
Oil Prices Under Pressure From Both Supply and Demand Factors
LONDON—Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007 GMT, Brent was up 31…
US News
- The Associated PressPARK CITY, Utah—Doctors and family members are expected to testify on Wednesday in a trial about a 2016 ski crash between Gwyneth Paltrow and a retired Utah man suing her… [...]
- Paul SperryThe Justice Department is not disclosing to the public or Congress links between President Biden’s son Hunter and brother James and a corrupt Chinese government agent who doled out millions… [...]
Feds’ Foreign-Corruption Double Standard: They Protected Bidens Even as They Bore Down on Trumpworld- Paul SperryAt the same time that Department of Justice officials were using spying and corruption statutes to aggressively pursue Donald Trump’s allies based on what turned out to be rumor and… [...]
- Andrew ThornebrookeThe United States’ top diplomat calls for a greatly expanded budget for activities in the Indo-Pacific to counter communist China’s increasing aggression and fortify American ties in the region. U.S.… [...]
- The Associated PressNEWPORT NEWS, Va.—Two inmates in a Virginia jail used primitively made tools to create a hole in the wall of their cell and escape, only to be found hours later… [...]
- Zachary StieberA science journal’s political endorsement lowered trust among supporters of former President Donald Trump, a study has found. Nature endorsed President Joe Biden in October 2020. The journal said Biden,… [...]
- Epoch VideoGwyneth Paltrow is back in Utah’s Third District Court on March 22, accused of violently crashing into a man while skiing in 2016. [...]
- Cara DingBrian Carey, a Republican Mount Hope councilman, won the Otisville mayoral race on March 21. He got 125 votes, as opposed to 101 votes by his Democratic opponent, Isaac Palmer.… [...]
- Tom OzimekSenator Joe Manchin (D-W.Va.) sharply criticized the Biden administration on Monday after President Joe Biden vetoed bipartisan legislation aimed at blocking a regulation that would push private retirement plan fiduciaries… [...]
- Zachary StieberThe rate of myocarditis spiked in the military in 2021, newly disclosed data show. Diagnoses of myocarditis, a form of heart inflammation, jumped 130.5 percent in 2021 when compared to… [...]