Record fuel prices are hitting oil demand in developed countries harder than anticipated, the International Energy Agency warned on Wednesday, in the latest sign of inflationary pressures forcing consumers to cut back. Paris-based IEA, which is primarily funded by OECD members, said that growth in oil demand was slowing as the global economy faltered, but cautioned
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You can enable subtitles (captions) in the video player Water is life. But as the world warms up it’s also increasingly becoming a commodity. For example, the NASDAQ Veles California Water Index Futures was launched in 2020, allowing investors, farmers, and municipalities to bet on the forward cost of water in California and hedge against
Source: Getty Images June’s headline consumer price index is expected to have been even hotter than May’s report, but consumer inflation may have finally peaked given the decline in oil and gasoline prices in July. Headline CPI is expected to rise by 1.1%, compared with 1% in May, according to Dow Jones. On a year-over-year
David Ryder | Getty Images After staggering growth during the pandemic, the U.S. housing Boismarket is starting to cool — and it’s happening fastest along the West Coast. The quickest-cooling real estate market is San Jose, California, according to a new Redfin analysis, which ranked U.S. metropolitan markets based on median sales prices, year-over-year inventory
Rishi Sunak, the UK’s former chancellor, has officially launched his campaign to become the next prime minister in a bid to outpace his rivals, with cabinet endorsements by deputy prime minister Dominic Raab and transport secretary Grant Shapps. Sunak is the frontrunner in the battle to become Tory party leader, with more publicly declared support
The dollar surged and government bonds rallied on Monday, while stock markets tumbled, as traders considered the prospect of further aggressive interest rate rises in the US and intensifying recession risk in Europe. The dollar index, which tracks the US currency against six others and has a large euro weighting, rose 0.9 per cent to
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images After dropping to record lows in 2020 and 2021, mortgage rates are back up. Way up. While the past
Private equity tycoons are not patient people. They are often happy to pay more for convenience. When leveraged buyout firms assemble an acquisition or investment they request that their limited partners wire the required portion of capital pledged. That process can be time-consuming. Enter opportunistic banks. Lenders are increasingly offering so-called capital call or subscription
Just as founding father Alexander Hamilton did then, Americans today should look uneasily at division and disunion (“A divided America can still lead the west”, Opinion, July 5). Economic prowess is not enough to ensure stability and co-operation with other states. Athens, Carthage and Rome, the latter being referenced in Janan Ganesh’s article, were ruined
Professor Laura Spira reports no link between board diversity and profitability (Letters, July 2). Good. Why should there be? Diversity must be implemented positively — if the research proves no link, then diversity won’t harm businesses either. The elites in charge will open their organisations to take advantage of a bigger pool of diverse people,
Massachusetts plans to bring $2.7 billion of taxable business-tax backed special obligation revenue bonds with a social designation, marking the largest environmental, social and governance deal to date in the municipal market. The deal is also one of the larger taxable deals in 2022 in a year that has seen a significant drop in taxable
Two former health secretaries, Sajid Javid and Jeremy Hunt, on Sunday announced bids to stand as Conservative party leader with pledges to slash taxes in an effort to win support from MPs. A total of nine candidates have now announced they will stand to replace Boris Johnson as UK prime minister, with more expected to
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Rene Reinsberg, a co-founder of Celo, an open platform that makes financial tools accessible to anyone with a mobile
In this article NTRS SNX MU GOOGL Sanjay Mehrotra, CEO, Micron Technology Scott Mlyn | CNBC Volatility in the stock market appears to be far from over. Market churn is still very high amid hot inflation and a worrisome economic outlook. Although the near-term perspective may be blurry, investors may scoop up healthy returns in
In this article TSLA XPO WDFC COCO UPST The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022. Brendan Mcdermid | Reuters Check out the companies making headlines in midday trading. Upstart — The consumer
Villa Ada, situated above Lake Maggiore, was built in 1866 by the Trubetskoy family. The family descends from Dmitry of Bryansk, who was the son of Algirdas, ruler of medieval Lithuania. Pyotr Trubetskoy, a Russian diplomat, moved to Italy in 1865 on a diplomatic mission. There he met Ada Winans, an American lyric singer. The
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Mortgage rates dropped for the second week in a row, but that didn’t revive demand from homeowners or potential buyers. Rates fell 10 basis points last week and have declined 24
Titled “Something to make you smile”, the email from art collector Lisa Perry contained a photo of a Niki de Saint Phalle sculpture. The exuberant, blue-bodied figure, recently installed in Perry’s Villefranche-sur-Mer garden, was shown in close-up, centred on its bountiful, swimming-costumed bottom. “Niki did everything with humour,” says Perry from her Long Island home,
Los Angeles International Airport received a $50 million grant from the federal infrastructure bill for terminal road improvements, among the largest dispersed from the $1 billion allocated to 85 airports nationally. The grants are the first allotment in a five-year, $5 billion airport terminal grant program funded by the Infrastructure Investment and Jobs Act, Transportation
The Supreme Court decision in Carson v. Makin may render unconstitutional issuer statutes that prohibit the use of bond proceeds for religious purposes. The court ruled last month that if a state chooses to subsidize private education, it cannot disqualify some private schools solely because of religious affiliation. The ruling could change the way some