The U.S. benchmark oil price fell below $80 a barrel on Friday, and gasoline prices in some states are now close to $3 a gallon.
Category: Economic Conditions and Trends
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Many States Are Sending Checks to Help Residents With Inflation
The New York Times – Business:Up to 20 are using some of their budget surpluses to help taxpayers deal with high inflation. But some economists worry that the payments could fuel inflation.
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A New Source of Economic Anxiety in Britain: Soaring Mortgage Rates
The New York Times – Business:After more than a decade of ultralow interest rates, millions of British households suddenly face large jumps in their monthly payments, rocking the nation’s already weak economy.
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Engineers From Taiwan Bolstered China’s Chip Industry. Now They’re Leaving.
The New York Times – Business:The lure of money and new opportunities enticed talent to work in China’s semiconductor plants. The looming Cold War in tech changed the calculus.
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Inflation in Britain Reaches 11.1 Percent, Led by Energy Costs
The New York Times – Business:Prices in October rose at the fastest rate in more than 40 years, deepening the country’s cost-of-living crisis.
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Japan’s Economy Shrinks, Weighed Down by a Weak Yen and Rising Inflation
The New York Times – Business:The economy contracted 1.2 percent as consumers and businesses were hit with rising import prices.
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Markets Edge Higher at End of a Strong Week
The New York Times – Business:Signs of China easing its pandemic restrictions appeared to bolster stocks, adding to investors’ bullishness about cooling inflation in the United States.
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U.K. Economy Shrinks as Threat of Recession Nears
The New York Times – Business:Britain’s economic output fell in the third quarter and European Union officials forecast weakening growth for countries across the continent.
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U.K. Economy Shrinks as Threat of Recession Nears
The New York Times – Business:Economic output fell 0.2 percent in the third quarter as the services and production industries slowed.
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An Inflation-Driven Midterm Will Not Change Biden’s Economic Focus
The New York Times – Business:The president said he would not change his economic approach, adding that his policies were working.
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China’s Great ‘Zero-Covid’ Guessing Game
The New York Times – Business:Companies, investors and global policymakers are trying to divine when the Chinese government will drop its strict restrictions. It comes down to one man: the country’s top leader, Xi Jinping.