Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Facebook Facebook logo Sign up for Facebook to connect with Jakub Porzycki Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of … Read more

Fed’s Powell facing rising criticism for inflation missteps

WASHINGTON (AP) – Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved higher and far more persistent than he or the Fed’s staff economists … Read more

Rail walk-out kicks off in UK amid fears of a summer of pay strikes

Forty thousand UK Network Rail staff and workers at 13 train operators have staged walkouts over pay in Britain’s biggest rail strike in 30 years. Facebook Facebook logo Sign up for Facebook to connect with Jeff J Mitchell Getty Images News | Getty Images LONDON-A days-long rail walkout that is causing severe travel disruption across … Read more

Rail strikes and labor shortages are hurting UK economy

The problem escalated Tuesday as thousands of rail workers went on strike over demands for better pay and working conditions – the biggest walkout on the railways in 30 years – bringing large parts of the network to a halt. More strikes are set for Thursday and Saturday. A separate strike by workers on London … Read more

Why LGBTQ homebuyers say rising mortgage rates are hitting them hard

Skandar Mrad, shown here on vacation in Italy, is looking for a home in the Los Angeles area. When Skandar Mrad decided late last year to buy his first house, his top priority was location. Mrad, a gay man living in the Los Angeles area, has spent much of his adult life commuting several hours … Read more

Inflation and recession fears are squeezing some industries more than others

A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty Images People still appear willing to shell out to travel, go to the movies and have a drink … Read more

How did the Russia-Ukraine war trigger a global food crisis? | Explainer News

Russia’s war in Ukraine is preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe, threatening to worsen shortages, hunger, and political instability in developing countries. Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70 percent of its sunflower oil … Read more

Here are three things the Fed’s done wrong, and what’s still not right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Facebook Facebook logo Sign up for Facebook to connect with Sarah Silbiger Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy … Read more

AP Interview: Biden says a recession is ‘not inevitable’

WASHINGTON (AP) – President Joe Biden said Thursday the American people are “really, really down” after a tumultuous two years with the coronavirus pandemicvolatility in the economy and now surging gasoline prices that are slamming family budgets. But he stressed that a recession was “not inevitable” and held out hope of giving the country a … Read more