High Gas and Rising Mortgage Rates Trouble Trump as Midterms Near
As the president extolled the strength of the economy on the global stage, Americans continued to feel the sting of rising prices stemming from the war in Iran.
International
Business and economy news from other publishers, in Malaysia, the region and the world.
Scottish drivers hit as diesel passes £2 a litre across the country
Motoring organisation the RAC says it expects the average UK diesel price to hit a new record high over the weekend.
Fuel costs putting off meal delivery driver applicants
Maureen Bougeard says some prospective volunteers do not respond after learning about expenses.
Why Xi believes the U.S. and China can overcome the 'Thucydides Trap'
In May, Chinese President Xi Jinping asked U.S. President Donald Trump whether the countries could avoid destructive rivalry. Now, it seems, he thinks they can
OpenAI bots meddled with multiple US government agency sites
OpenAI said its bots accessed public data from a range of institutions during test exercises.
New scenarios boost China's consumption
Across China, consumers are increasingly seeking cultural experiences, leisure activities and services alongside goods, creating new opportunities for businesses to meet more diverse demand. For local businesses, the changing demand is prompting efforts to turn temporary popularity into sustained consumption through improved services and more diverse experiences.
Appeals court rules that states can regulate Kalshi’s sports prediction markets, dealing another legal blow to platforms
The decision is the second in less than a month by an appeals court that states have a role in regulating sports-related event contracts.
US markets close higher, fuelled by cheaper oil
Wall Street stocks rebounded on Friday to finish a volatile week on a positive note, greeting a drop in oil prices on hopes for a US-Iran agreement that could lead to the reopening of the Strait of Hormuz. The Dow Jones Industrial Average added 478.64 points, or 0.9 percent, to 51,828.62, the S&P 500 gained 39.38 points or 0.5 percent to 7,743.41, and the Nasdaq Composite rose 129.35 points, or 0.5 percent to 27,068. Markets weighed mixed signals from the UN General Assembly in New York this week on the state of play between Washington and Tehran. While both US President Donald Trump and Iranian President Masoud Pezeshkian included tough rhetoric against each other in UN addresses, Iranian Foreign Minister Abbas Araghchi proposed a plan that would include the reopening of the Strait of Hormuz within seven days. "It is a dubious offer considering Iran hasn't changed its conditions from before," said Patrick O'Hare, an analyst at Briefing.com. "We'll see how long the glow of Iran's offer lasts." But Angelo Kourkafas of Edward Jones said "there is some hope for a diplomatic way to the war in the Middle East with oil prices falling a little bit today." Investors seemed to settle on a glass-half-full perspective, leading to a more two percent drop in oil prices, while major US stock indices were in positive territory most of the day. "We have a tug-of-war between rising interest rates and volatile energy prices against very solid corporate and economic fundamentals," Kourkafas said. Inflation fears from the Strait of Hormuz closure, alongside the risk of further Gulf supply cuts due to Houthi strikes on Saudi infrastructure on the Red Sea, have again pushed up government bond yields, with investors demanding higher returns for lending money. The benchmark US 10-year Treasury yield hit its highest level since 2007 on Thursday, and Japan's government bond yields also hit multi-year highs. (AFP) Edited by Robert Kemp
ICE Raids in Beef Country Raise Fears of Higher Prices
Cattle industry groups in Texas, Oklahoma and Kansas and two Republican senators said the Trump administration’s immigration enforcement actions were hurting operations.
Former state senator praises Oregon-China friendship
Former state senator praises Oregon-China friendship
