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economy

US, European stocks rise as oil prices steady; Asian indexes tumble

US, European stocks rise as oil prices steady; Asian indexes tumble

US and European stock markets advanced Wednesday as oil prices steadied, after Asian bourses suffered deep losses amid inflation worries sparked by the US-Iran war. Markets have been roiled much of the week as the conflict between the United States and Iran effectively closed shipping through the Strait of

US Fed warns 'economic uncertainty' weighing on consumers

US Fed warns 'economic uncertainty' weighing on consumers

The US Federal Reserve warned Wednesday that increased economic uncertainty was impacting consumer sentiment, as President Donald Trump's administration presses on with an aggressive tariffs agenda despite recent setbacks. In its "Beige Book" report on economic conditions, the central bank said that while consumer spending had

Bessent says Trump's 15% global tariff coming his week

(The Center Square) – Higher tariffs are on the way. Treasury Secretary Scott Bessent said Wednesday that President Donald Trump plans to rebuild his tariff wall within five months using alternative laws. "It's my strong belief that the tariff rates will be back to their old rate within

Mideast war rekindles European fears over soaring gas prices

Mideast war rekindles European fears over soaring gas prices

With shipping through the Strait of Hormuz nearly choked off due to the Middle East war, natural gas prices have spiked and Europe is worried that it will suffer a crisis like in 2022. Europe is heavily dependent upon natural gas imports, and the Russian invasion of Ukraine led to

What's in the bipartisan housing bill?

(The Center Square) – U.S. senators will vote this week on a massive bipartisan package that aims to expand housing supply and affordability for Americans. The 21st Century ROAD to Housing Act is a compilation of the House’s and Senate’s respective housing bills, with some last-minute deletions

Adidas shares slump on outlook, Mideast war casts shadow

Adidas shares slump on outlook, Mideast war casts shadow

Adidas's shares slumped Wednesday after its 2026 outlook disappointed investors, while the German sportswear giant said any potential impact on its business from the Middle East war was still unclear. The maker of Gazelle and Samba trainers forecast operating profit would rise to 2.3 billion euros ($2.

Ivory Coast cuts cocoa producer price by nearly 60 percent: govt

Ivory Coast cuts cocoa producer price by nearly 60 percent: govt

Ivory Coast, the world's leading cocoa producer, on Wednesday cut the price paid to its growers by nearly 60 percent, the government said, to try to address a sales slump affecting the sector. Agriculture Minister Bruno Kone announced the reduction to 1,200 CFA francs a kilo ($2,