Economy

OPEC+ agrees not to increase oil production amid slowing economy, Russian sanctions

NSC Strategic Communication Coordinator John Kirby defended the White House easing oil sanctions on Venezuela, saying there are plenty of opportunities for companies to drill in the US. Ministers from OPEC+ agreed during a Sunday meeting to stick to its policy of scaled-back oil production amid a slowing economy and a G7-imposed cap on Russian …

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Sunak’s government ‘going backwards’ on green economy, says CBI | Confederation of British Industry (CBI)

Rishi Sunak’s government is “going backwards” on building a greener economy and lacks a growth plan to soften the blow from recession, the head of the UK’s leading business lobby group has said. Tony Danker, the director general of the Confederation of British Industry (CBI), said the prime minister’s lack of ambition for the low-carbon …

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Health and wealth divides in UK worsening despite ‘levelling up’ drive, report finds | inequality

People in the UK are getting “sicker and poorer”, with a gaping health and wealth divide between regions that is only getting worse, research has found. Economic inactivity because of sickness is at its highest level since records began, with 2.5 million working-age adults inactive due to their health, states the IPPR report, which is …

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7 months later, Woodman’s covers medical bills for 76-year-old’s fall

Woodman’s Market is known for its low prices and wide selection, but slip and fall on a “huge glob of wet lettuce” in one of its stores, and the grocer’s usual customer-friendly ethos is curiously out of stock, according to Linda Ferguson. The 76-year-old Madison woman called SOS in early October to report that on …

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Why are so many people leaving the workforce amid a UK cost of living crisis? | Richard Partington

Something odd is going on in Britain’s jobs market. Even as unemployment hovers close to its lowest level since the mid-1970s and businesses across the country struggle to recruit enough staff to fill roles, growing numbers are quitting the workforce altogether. The rise of economic inactivity – when working-age adults are neither in a job …

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Meloni pushes back on Italy’s shift into digital payments age

Patrizia Flammini’s café does brisk business selling coffee, pastries and sandwiches in the heart of Rome, with prices starting at €1.20 for an espresso. But she said her heart sank every time a customer tried to buy small pick-me-ups using a payment card — which gives the banks a cut of the sale price. “It’s …

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Fewer tourists and less spending in Las Vegas as inflation takes its toll

Nuveen CIO Saira Malik discusses Nuveen’s 2023 Playbook, if a recession is inevitable, and provides tips and an outlook on stocks, on ‘Barron’s Roundtable.’ Inflation is taking its toll on Sin City as fewer tourists are visiting the gambling Mecca, and those who do spend less than usual, according to a new report. The University …

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Opinion | Biden is right to be cautiously optimistic about the economy

Comment on this story Comment President Biden still faces the threat of a recession. He has no assurance Republicans will refrain from forcing the US Treasury to default on the debt sometime in the next two years. For now, however, he can take comfort in a recent batch of good economic news. Most important was …

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