IMF Outlook Worsens for a 'Limping' World Economy
The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year. The forecast for next year is down a notch from the 3% it predicted back in July. read more >
The IMF said it expects global economic growth to slow to 2.9% in 2024 from an expected 3% this year. The forecast for next year is down a notch from the 3% it predicted back in July. read more >
Kremlin spokesman Dmitry Peskov said Russia would suspend the Black Sea Grain Initiative until its demands to get its own food and fertilizer to the world are met. read more >
Turkey and the U.N. negotiated the breakthrough accord last summer to ease a global food crisis, along with a separate agreement with Russia to facilitate shipments of its food and fertilizer. read more >
The price cap was rolled out to equal parts skepticism and hopefulness that the policy would stave off Russian President Vladimir Putin's invasion of Ukraine. read more >
Ukraine and Russia are both major agricultural suppliers and the war's disruption to their exports worsened a global food crisis tied to droughts and other factors. read more >
Still, the bank's latest Global Economic Prospects report marks an upgrade from its previous forecast in January. That estimate had envisioned worldwide growth of just 1.7% this year. read more >
The deal has allowed over 30 million metric tons of Ukrainian grain to be shipped, with more than half that going to developing nations. read more >
On global markets, the prices of grains, vegetable oil, dairy and other agricultural commodities have fallen steadily from record highs. But the relief hasn't made it to the real world of shopkeepers, street vendors and families trying to make ends meet. read more >
The U.S. is expected to end the winter months with 25% more natural gas than it had in storage at the same point last year. read more >
Drivers now hope the situation doesn't get worse after a series of cutbacks tied to Russia's war in Ukraine, accidents and the slowing global economy have strained the world's oil supply. While oil and gasoline prices have dropped despite a recent supply crunch, those threats could end up pushing costs higher this winter. read more >
Coal use grew by only 1.2% in 2022, but the increase pushed it to all all-time high of more than 8 billion metric tons, beating the previous record set in 2013. read more >
Though the United States might avoid a recession this year — the World Bank predicts the U.S. economy will eke out growth of 0.5% — global weakness will likely pose another headwind for America's businesses and consumers, on top of high prices and more expensive borrowing rates. read more >
It includes roughly $40 billion to assist communities across the country recovering from drought, hurricanes and other natural disasters. read more >
Under the deal, the U.S. pledged to export at least 9 billion to 10 billion cubic meters of liquefied natural gas, or LNG, over the next year via U.K. terminals — more than double the amount exported in 2021. read more >
It is not yet clear how much Russian oil the two sanctions measures could take off the global market, which would tighten supply and drive up prices. read more >
The agreement, which Russia and Ukraine signed separately with the U.N. and Turkey, is set to expire on Nov. 19. A Russian diplomat on Tuesday cited Moscow's dissatisfaction with its implementation. read more >
The Department of Energy is projecting sharp price increases for home heating compared with last winter and some worry whether heating assistance programs will be able to make up the difference for struggling families. read more >
Biden has staked his presidency on what he has called "a historic manufacturing boom," hoping to succeed where past presidents, governors and hordes of other politicians have struggled for a half-century. read more >
Pushed by Treasury Secretary Janet Yellen, the price cap plan is testing the bounds of statecraft and capitalism. read more >
As the calendar turns to fall, an eased energy crisis is turning fierce again worldwide with ominous headlines at every turn. read more >
