BANGKOK—Shares fell Friday in Europe and Asia as worries over turmoil in the banking sector and recession risks overshadowed gains on Wall Street. Benchmarks declined in most major markets, while U.S. futures were higher. Oil prices fell. Investors are worried that more banks might suffer a debilitating exodus of customers following the second- and third-largest…
World Shares Fall on Banking Turmoil, Recession Worries
Energy Secretary Says ‘Awful Lot of Misinformation’ on Gas Stove Ban
A hearing on President Joe Biden’s proposed budget turned to gas stoves on March 23, as Rep. Dan Newhouse (R-Wash.) asked Energy Secretary Jennifer Granholm about her department’s proposed rule on the appliances. “There’s been an awful lot of misinformation that’s been floating around about this,” Granholm told Newhouse. The Department of Energy (DoE) on…
Energy Secretary Acknowledges Half of Gas Stoves Could Be Impacted by Government Proposal
A hearing on President Joe Biden’s proposed budget turned to gas stoves on March 23, as Rep. Dan Newhouse (R-Wash.) asked Energy Secretary Jennifer Granholm about her department’s proposed rule on the appliances. “There’s been an awful lot of misinformation that’s been floating around about this,” Granholm told Newhouse. Granholm acknowledged, however, that half of…
Oil Down After Fed Comments, US Crude Stock Build
LONDON—Oil prices dipped on Thursday, having hit their lowest since late 2021 earlier this week, after Federal Reserve Chair Jerome Powell highlighted banking sector credit risks for the world’s largest economy, while U.S. crude stockpiles swelled. Brent crude futures were down 54 cents, or 0.7 percent, to $76.15 a barrel at 0929 GMT, while U.S….
Global Shares Mixed After Fed Hints Rate Hikes May End Soon
TOKYO—Global shares were mixed Thursday after the Federal Reserve raised a key interest rate, while noting the end may be near for its economy-crunching hikes to interest rates. France’s CAC 40 declined 0.3 percent in early trading to 7,112.95, while Germany’s DAX slipped 0.2 percent to 15,183.25. Britain’s FTSE 100 dipped 0.5 percent to 7,532.54….
Tennessee Governor Signs Legislation Blocking Local Bans on Natural Gas Stoves
Tennessee Gov. Bill Lee, a Republican, has signed legislation prohibiting local governments from banning gas stoves. The move comes after federal agencies have been in discussion on their potential for emitting unsafe levels of air pollutants allegedly contributing to respiratory problems and climate change, allegations that have been criticized by Republicans and industry groups. State…
Bank Failures Highlight Risks of Using ESG in Americans’ Pension Funds
President Joe Biden used his veto power on Monday to block a bipartisan action from Congress that would have prevented pension fund managers from investing retirees’ money according to environmental and social-justice criteria. “There is extensive evidence showing that environmental, social, and governance factors can have a material impact on markets, industries, and businesses,” Biden…
Oil Slips on Demand Fears, Market Awaits Fed Decision
LONDON—Oil prices edged lower on Wednesday following fresh indications of weak demand, and as the market awaited a crucial interest rate decision by the U.S. Federal Reserve. Brent crude futures, which have risen by almost 3 percent this week, were down 30 cents, or 0.40 percent, at $75.02 a barrel at 1026 GMT. U.S. West…
World Stocks Cautiously Higher Ahead of High Stakes Fed Decision
LONDON—World stocks were cautiously higher on Wednesday as hopes that a banking crisis would be averted were tempered by uncertainty before a Federal Reserve meeting that sees the central bank caught between taming inflation and maintaining stability. Data showing British inflation unexpectedly rose to 10.4 percent in February boosted expectations for a quarter point rate…
Soaring Electricity Prices Push Up EV Charging Fees in Australia
A number of electric vehicle (EV) charging networks in Australia have raised their service prices as surging electricity prices bite. Recently, Chargefox, the largest EV charging network in the country, announced that it would lift prices for some of its charging stations. This comes as electricity prices are expected to soar by up to 23.7…
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