Economic News
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Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Trump has sought
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Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisis
Lines are growing at Russian gas stations -- and so is the frustration and uncertainty as several months of Ukrainian attacks have set oil refineries ablaze and choked supplies for motorists across the vast country
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EU issues new steel and e-commerce regulations to reduce trade imbalance with China
The European Union has introduced two measures to protect its steel industry and limit small e-commerce parcels
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China imposes export controls on 40 Japanese entities as tensions with Tokyo rise
China has imposed new export controls on 40 Japanese entities, accusing them of contributing to Japan’s “remilitarization.”
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Rio bus drivers and workers throughout Brazil demand shorter work week as lawmakers examine proposal
Hundreds of bus drivers on strike protested in downtown Rio de Janeiro, demanding increased pay, better conditions and an end to the six-day working week
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Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards
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Job openings stayed at a surprisingly strong 7.6 million in May; U.S. labor market proves resilient
U.S. job openings stayed at a surprisingly strong 7.6 million in May as the American labor market remains resilient in the face of the economic shock from the Iran war
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Cypriot natural gas could start flowing from ExxonMobil's discoveries by 2033
Natural gas could start flowing from two undersea deposits ExxonMobil discovered off Cyprus by 2033, the company's Vice President of Global Exploration John Ardill said, helping to turn the east Mediterranean island nation into a new European energy hub
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China's factory activity expands in June with boost from tech exports
China says its factory activity picked up pace in June
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The Strait of Hormuz's future is unsettled in wake of latest strikes
Iranian drone strikes and US retaliation amid a shaky ceasefire have blunted an uptick in shipping through the Strait of Hormuz
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