Consumer confidence points to a recession now or early 2023

Font size Consumer dissatisfaction is worst among households making less than $50,000 a year, writes Dana M. Peterson. Frederic J Brown/AFP/Getty Images About the author: Dana M. Peterson is chief economist at The Conference Board. Consumers sense that a recession is coming and are starting to behave accordingly. They become unhappier by the minute and … Read more

G-7 joins EU with $60 per barrel price cap on Russian oil

WASHINGTON (AP) — The Group of Seven Nations and Australia joined the European Union on Friday by adopting a $60-a-barrel price cap on Russian oil, an important move as Western sanctions aim to reorder the global economy. oil market to prevent price spikes and deprive President Vladimir Putin of funding for his war in Ukraine. … Read more

India continues to buy Russian oil after sanctions take effect

India said it would continue to buy Russian crude oil even after the embargo and price cap came into effect on Dec. 5, an official from India’s oil ministry said on Friday. India has consistently stated its intention to continue buying crude oil that makes the most financial sense for the importing country. The Indian … Read more

G-7 outlines how it’s going to work

Russian President Vladimir Putin Contributor | Getty Images News | Getty Images The European Union agreed on Friday to limit the Russian marine oil price to $60 a barrel, after several days of intense negotiations over an appropriate level. The announcement comes after the G-7 group of advanced economies agreed in September to impose a … Read more

The US wants the EU to be tough on China. But Europe cannot afford it

US President Joe Biden and Emmanuel Macron, the President of France, met at the White House. Bloomberg | Bloomberg | Getty Images The United States has stepped up its heavy rhetoric against China and wants Europe to follow suit. But the block can’t quite afford to do the same. The US administration has been particularly … Read more

5 things you need to know before the stock market opens on Friday, December 2

A GE AC4400CW diesel-electric locomotive in Union Pacific livery, is seen ahead of a potential strike if a deal is not reached with railroad workers unions, as a Metrolink commuter train (right) arrives at Union Station in Los Angeles, California, September 15, 2022. Bing Guan | Reuters Here are the most important news items investors … Read more

Oil production cuts on the table awaiting Russian sanctions

OPEC+, a group of 23 oil-producing countries led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy. Bloomberg | Bloomberg | Getty Images OPEC and non-OPEC oil producers could impose deeper oil production restrictions on Sunday, energy analysts said, as the influential energy alliance weighs the … Read more

Biden says climate law has ‘breakdowns’ after criticism of Macron

WASHINGTON (AP) — President Joe Biden on Thursday acknowledged “glitches” in the US clean energy law that have raised concerns in Europe, but said “there are adjustments we can make” to appease allies. Biden, who is honoring French President Emmanuel Macron with the first state dinner of his presidency on Thursday night, said at a … Read more

Senate race in Georgia between Herschel Walker and Raphael Warnock

Here’s an updated breakdown of total ad spend in the Georgia U.S. Senate round, including spending since Nov. 9, the day after the midterm elections, and future reservations through Dec. 6, the day of the second round : Total ad spending is more than $77 million, and Democrats have spent more than twice as much … Read more

Macron arrives at the White House for the Biden administration’s first state visit

CNN — US President Joe Biden is taking part in a spate of events as part of his first state visit since taking office, meeting with French President Emmanuel Macron after welcoming him and his wife, Brigitte Macron, on Thursday. The Macrons’ trip to the White House marks their second time as guests of honor … Read more