President Joe Biden accused “MAGA Republicans” of pursuing a radical plan that he claimed would deprive millions of families of health coverage and threaten to tank the U.S. economy during a speech in Virginia Beach on Tuesday. Biden touted his plans to safeguard Americans’ access to affordable health care and stated that congressional Republicans are…
Biden Renews Attacks on ‘MAGA Republicans’ Amid Growing Discontent With Economy
Biden Targets ‘MAGA Republicans’ in Health Care Speech Amid Growing Discontent With Economy
President Joe Biden accused “MAGA Republicans” of pursuing a radical plan that he claimed would deprive millions of families of health coverage and threaten to tank the U.S. economy during a speech in Virginia Beach on Tuesday. Biden touted his plans to safeguard Americans’ access to affordable health care and stated that congressional Republicans are…
No Clear Alternative to Jet Fuel to Support Present Demand Under UK’s Net Zero Plans: Report
The UK would have to give up half its farmland to make enough alternative aviation fuel to meet its net zero ambitions, according to a new report from the Royal Society. The report warns there is no single, clear alternative to jet fuel able to support flying on a scale equivalent to present-day use. The UK…
UK Households Buying Less Food as Grocery Inflation Continues to Soar
Half of the UK population has reported buying less food when shopping in recent weeks, as food price inflation puts increasing pressure on British households. According to survey results from the Office for National Statistics (ONS), the rising cost of living has caused Britons to cut back on their spending on food. The ONS survey,…
Wall Street Opens Lower as Treasury Yields Rise
Wall Street’s main indexes fell at the open on Tuesday as Treasury yields rose on bets of more interest rate hikes from the Federal Reserve. The Dow Jones Industrial Average fell 15.62 points, or 0.05 percent, at the open to 32,873.47. The S&P 500 opened lower by 5.05 points, or 0.13 percent, at 3,977.19, while…
Japan’s Factory Output Posts Biggest Fall in 8 Months on Weak Autos, Chips Sectors
TOKYO—Japan’s factory output shrank at the fastest pace in eight months in January as declining overseas demand took a heavy toll on key industries such as auto and semiconductor equipment. In contrast, retail sales posted their fastest growth in nearly two years, separate data showed, highlighting the divergent paths between soft manufacturing and robust…
Dollar Heading for 1st Monthly Gain Since September
SINGAPORE/LONDON—The U.S. dollar steadied on Tuesday, having lost ground a day earlier, climbing particularly against the Japanese yen, and on track for its first monthly gain since September. The greenback’s rally gathered momentum in recent weeks as upbeat economic data led to mounting expectations that the U.S. Federal Reserve will have to raise interest rates…
UK and US Vow to Bolster Energy Independence, End Reliance on Russian Energy
February 28, 2023
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Business & Marketseconomic policieseconomyenergyEuropeGrant ShappsInternationalJennifer GranholmLNGRussia-Ukraine WarUKUSUS NewsVladimir PutinWar in UkraineWorld
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Britain and the United States have pledged to work together to bolster energy independence and help their European partners end reliance on Russian energy. Since Russian President Vladimir Putin launched the invasion of Ukraine on Feb. 24, 2022, European nations have reduced their imports of Russian oil and gas, leading to a shortage of supplies…
US Pending Home Sales Post Largest Gain in 2–1/2 Years in January
WASHINGTON—Contracts to buy U.S. previously owned homes rose by the most in more than 2–1/2 years in January, but a resurgence in mortgage rates could delay a much-awaited housing market turnaround. The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on signed contracts, jumped 8.1 percent last month, the…
Oil Rises on China Growth Optimism
February 28, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday, erasing the previous session’s losses, as Optimism for a solid economic rebound in China offset worries about further U.S. interest rate hikes dragging on consumption in the world’s biggest economy. Brent crude futures for April, due to expire on Tuesday, were up by 87 cents, or 1.1 percent, to $83.32…
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