U.S. home prices are expected to decline modestly this year. U.S. analysts polled by media company Reuters say the decline is due to a drop in demand despite expectations of rising interest rates. The Federal Reserve is expected to raise rates at least two more times this year after already increasing rates by 450 basis points from near zero in […]
Oil prices plunged more than five percent to an eight-month low today as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession. Brent futures fell $4.75 to $85.71a barrel. U.S. West Texas Intermediate crude fell $5.90 to $78.30. Support The Readers Bureau Buy A T-Shirt […]
Fast rising prices continued to plague the US economy last month, though a drop in petrol costs provided some relief. The annual inflation rate fell to 8.3% in August. That was down from 8.5% in July, marking the second month of decline. But the costs of food, housing, and medical care continued to surge, disappointing economists expecting more widespread easing. […]
According to press reports, the UN’s Food Prices Index has fallen for the fifth straight month, a sign that one of the main pressures pushing up the cost of living around the world could ease. The index fell to 138 in August and is now lower than it was before Russia’s invasion of Ukraine. The countries were both major exporters […]
Uber’s revenue skyrocketed to $8.1 billion during the three months ending in June, doubling from the previous year as more customers turn to the ride-hailing service. In its quarterly earnings report, the company said the number of consumers and drivers using its platform is at all-time highs. Uber recorded 122 million people using its platform each month, up 21% from […]
Oil prices rose about 2% in volatile trade today but were still heading for a weekly decline as investors worried about a potential recession-driven demand downturn even though global fuel supplies remained tight. Brent crude futures rose $2.46 to $107.11 a barrel. U.S. West Texas Intermediate crude rose $2.10 to $104.83 a barrel. Support The Readers Bureau Buy A T-Shirt […]
Oil prices tumbled about 5% to a three-week low today, led by a slump in U.S. gasoline futures, as investors worried interest rate hikes from major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the U.S. dollar this week rose to its highest since December 2002 against a basket of currencies. A stronger […]
Oil prices sank after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. Brent crude fell $2.12 to $120.95 a barrel. U.S. West Texas Intermediate crude fell $2.02 to $119.49 a barrel. Both benchmarks remained on track for weekly gains of 1% and 0.5% respectively. The U.S Labor Department says the annual inflation rate rose […]
Oil prices jumped about 3% to a 13-week high today as U.S. demand for gasoline has kept rising despite record pump prices, on expectations China’s oil demand will increase, and on growing supply concerns in several countries. Brent futures rose $3.59, to $124.16 a barrel. U.S. West Texas Intermediate crude rose $3.49 to $122.90. Brent and West Texas Intermediate (WTI) […]
According to press reports, the U.K. is witnessing its fastest rise in prices in 40 years as higher energy bills take a stranglehold on millions of households. Inflation, the rate at which prices rise, leaped to nine percent in the 12 months to April, up from seven percent in March. Higher fuel and food prices, driven by the Ukraine war, […]
