TOKYO—Global markets rose moderately Monday, although worries continued about economic growth and inflationary pressures. France’s CAC 40 rose less than 0.1 percent in early trading to 7,522.58. Germany’s DAX gained 0.2 percent to 15,830.74. Britain’s FTSE 100 added 0.5 percent to 7,911.91. U.S. shares were set to drift higher with Dow futures up less than…
Global Shares Rise Despite Economic Growth, Rate Worries
April 17, 2023
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Saudi Prince Gives 4 Percent Aramco Stake to Public Investment Firm
April 16, 2023
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DUBAI, United Arab Emirates—Saudi Arabia’s crown prince announced Sunday the transfer of a 4 percent stake of the oil giant Saudi Aramco to a subsidiary of the kingdom’s sovereign wealth fund, further boosting its coffers as the kingdom tries to expand its economy beyond oil. Crown Prince Mohammed bin Salman’s decision, announced by the state-run…
G-7 Ministers Set Big New Targets for Solar and Wind Capacity
SAPPORO, Japan—The Group of Seven (G-7) rich nations on Sunday set big new collective targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward a quicker phase-out of fossil fuels. But they stopped short of endorsing a 2030 deadline for phasing out coal that Canada and other…
US Gas Prices Inch Higher as Oil Gets Expensive
Gas prices at the pump rose over the past week in the wake of higher oil prices, with experts foreseeing more increases as long as oil costs remain elevated. The national average price for regular gas has risen by $0.08 over the past week, from $3.58 a gallon to $3.66 a gallon as of April…
New Tech Transforms Sea Water Into Hydrogen Fuel for Cars
April 14, 2023
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Researchers have come up with a new system that turns seawater into hydrogen fuel—a development that could aid in the proliferation of hydrogen fuel cell vehicles. The new method extracts hydrogen from the ocean by funneling seawater through a double membrane system, using electricity. The design was successful in generating hydrogen gas without the accompaniment…
Oil Gains After IEA Sees Demand Rising to Record High
April 14, 2023
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LONDON—Oil prices rose on Friday after the West’s energy watchdog said it expected global demand to rise to a record high this year on the back of a recovery in Chinese consumption. The International Energy Agency (IEA) also warned that output cuts announced by OPEC+ producers could exacerbate an oil supply deficit and hurt consumers….
Global Stocks Rise After US Inflation Cools
April 14, 2023
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BEIJING—Global stock markets rose Friday after U.S. inflation eased in March and China reported strong exports. London and Frankfurt opened higher. Shanghai, Tokyo, and Hong Kong advanced. Oil prices rose. Wall Street futures were lower, giving up part of Thursday’s gains after U.S. inflation at the wholesale level slowed more than expected. Asian markets were…
US to Help Fund Ukraine Reconstruction With Russian Assets: State Department Official
The Biden administration is planning to help fund the $400 billion reconstruction of Ukraine after the Russian invasion ends and to turn the Eastern European nation into a new center for European energy production, according to a senior State Department official. The United States will help to provide the massive sum by selling of assets…
Higher Oil Prices Expected to Revive Inflation Pressures, but Can a Recession Stop It?
Since Saudi Arabia and OPEC+ crude oil producers announced additional production cuts of about 1.16 million barrels per day (bpd), there has been increasing concern that these efforts will affect American consumers by adding to inflationary pressures, particularly at the pump. U.S. oil prices had been trending downward since hitting a peak of $130 per…
Builders and Energy Groups Clash Over Construction Code
All-important energy efficiency standards can’t be sacrificed in the fight to ease pressure on Victoria’s beleaguered building industry, lobbyists warn. The state government is consulting with the sector amid calls for urgent reforms following the financial collapse of one of the nation’s largest home builders, Porter Davis. Leading the charge, the Housing Industry Association is…
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