News Analysis After talking up a “Red Wave” throughout 2022, the Republican Party ultimately failed to take the Senate in November. Yet, the GOP’s narrow majority in the House of Representatives will let them exercise more influence than they did during the first two years of Joe Biden’s presidency. Judging by opinion research, energy-related issues…
Can Republican Power in the House Make a Difference on Energy?
December 23, 2022
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2022 Midterm ElectionsBusiness & MarketsChinacongresseconomic policieseconomyenergyEnvironmentExecutive BranchFinance & Business TiesGlobal ExpansionGrassroots ResistancehouseInfiltrating the WestMarketsNational SecurityOilPolicies & ImpactsPoliticsRepublicanRepublicansScienceSpecial TopicsThreat from Communist ChinaUSUS NewsUS-China relations
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2022 Midterm ElectionsBusiness & MarketsChinacongresseconomic policiesEconomyenergyEnvironmentExecutive BranchFinance & Business TiesGlobal ExpansionGrassroots ResistancehouseInfiltrating the WestMarketsNational SecurityOilPolicies & ImpactsPoliticsRepublicanRepublicansScienceSpecial TopicsThreat from Communist ChinaUSUS NewsUS-China relations
Japan’s Consumer Inflation Hits Fresh 40-year High, Eyes on BOJ Policy
TOKYO—Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus. Months before Tuesday’s surprise tweak to its yield control policy, Bank of Japan (BOJ) policymakers…
Lumber Prices Hit 2022 Low as Homebuilder Sentiment Collapses
December 23, 2022
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Business & Marketseconomic policieseconomyhome builder sentimentinflationlumber pricesmortgage ratereal estaterecessionUSUS Real Estate
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Lumber prices hit an all-time low after homebuilder sentiment tumbled for the twelfth straight month in December. The building commodity peaked at $1,336 per thousand board feet in late February, but has settled to around $379, as of Dec. 22, to its lowest level since the pandemic in June 2020. The price of lumber is down…
Salary Expectations in US Hit New High: Fed Survey
December 23, 2022
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Business & MarketsCompaniesearnings growtheconomic policieseconomyinflationreal earningsreal wagessalary expectationsUSUS Newswelfare benefits
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Expectations regarding salaries among American workers hit a record high in November, with younger people expecting the most, according to a Fed survey. “The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased from $72,873 in July to $73,667 in November, the highest reading of the series. The increase…
Dollar Steady After Strong US Data, Yen Set for Weekly Gain
LONDON/SINGAPORE—The dollar fluctuated on Friday and was little changed in morning trading in London after two days of gains, as investors weighed up the outlook for interest rates following the release of stronger-than-expected U.S. economic data on Thursday. The euro was up slightly against the dollar, standing 0.1 percent higher at $1.061, after slipping less…
Oil Rises 2 Percent on Russian Supply Worries; US Storm Impact in Focus
December 23, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose 2 percent on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent crude was up by $1.40, or 1.70 percent, to $82.38 a barrel at 1044…
India Probing 12 EV Makers Over Alleged Misappropriation of Government Subsidies
India has launched a probe into the alleged misappropriation of incentives given under a 100 billion rupee ($1.2 billion) scheme, which was designed to accelerate the adoption of electric vehicles (EVs) in the country. Indian Minister for Heavy Industries Mahendra Nath Pandey told Parliament on Tuesday that the investigation was initiated in response to complaints…
World Shares Mixed Before Updates on Spending, Durable Goods
December 23, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares rose in Europe on Friday after a retreat in Asia ahead of updates on U.S. consumer spending and durable goods orders. Benchmarks climbed in London and Paris but fell in Hong Kong, Tokyo, and Seoul. Oil prices surged more than $1 a barrel. Japan reported its core inflation rate, excluding volatile fresh foods, rose…
Germany Returns to Coal as Energy Security Trumps Climate Goals
December 22, 2022
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Business & Marketscoaleconomic policieseconomyenergyenergy shortageEuropeinflationRussia-Ukraine WarWorld
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Germany is returning to coal as it faces its worst energy crisis in decades, even as it officially pursues its climate change goals. The central European nation is consuming coal at the fastest pace in almost six years, as it becomes one of the few countries to increase imports of the fuel in 2023, reported…
Welfare Pays More Than Regular Jobs in Many States: Study
Welfare payouts for a family of four exceed the national median household income in 24 states, and top $100,000 annually in Washington, Massachusetts, and New Jersey, a new study finds. Many pandemic-related unemployment subsidies have expired, but existing programs coupled with a recent expansion of the Affordable Care Act (ACA)—also known as “Obamacare”—continue to offer…
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