Frugal is the new cool for Chinese youth as the economy falters

BEIJING, Sep 19 (Reuters) -Before the pandemic, Doris Fu envisioned a different future for herself and her family: new car, bigger apartment, fine dining on weekends and holidays on tropical islands. Instead, the 39-year-old marketing consultant from Shanghai is one of many Chinese in their 20s to 30s who cut spending and save money where … Read more

Germany takes control of the Russian-owned refinery during the energy crisis

Register now for FREE unlimited access to Sign in The German energy industry falters after the war in Ukraine The German regulator now has control of the Schwedt refinery The Schwedt refinery is a major fuel source for Berlin PKN interested in controlling stake in refinery – sources BERLIN, 16 Sept. (Reuters) – Germany … Read more

Retail sales in the US rise unexpectedly, but inflation holds back spending

Retail sales rose 0.3% in August July data has been revised down to show a 0.4% drop in sales Major retail sales unchanged; July sales revised downwards Weekly claims for unemployment benefits drop from 5,000 to 213,000 Manufacturing production rose by 0.1% in August WASHINGTON, Sept. 15 (Reuters) – U.S. retail sales rebounded unexpectedly in … Read more

US equities slide as yields rise, the Fed in the center

Register now for FREE unlimited access to Sign in The Fed looms large markets, the dollar goes up Oil collapses on demand concerns, US rail strike averted Treasury yields rise as oil gold plummets NEW YORK, Sept. 15 (Reuters) – Wall Street indices were firmly in the red after an unstable start to Thursday’s … Read more

Traffic, water shortages, now floods: the slow death of the Indian technological hub?

Much of Bengaluru has been submerged by the recent floods Residents forced to wade the water up to their waist The disruptions raise questions about the future of the city as a technology hub Authorities vow to act, but extreme weather conditions can complicate plans BENGALURU, Sept. 15 (Reuters) – Harish Pullanoor spent his weekends … Read more

The northeastern United States faces potential energy shortages as railways begin to close

Unused oil tank wagons are pictured on the tracks of the Western New York & Pennsylvania Railroad outside Hinsdale, New York on August 24, 2015. Photo taken August 24, 2015. REUTERS / Lindsay DeDario / file Photo Register now for FREE unlimited access to Sign in NEW YORK, Sept. 14 (Reuters) – Some trains … Read more

Biden, unions, railroad executives fight for a deal as closure looms

DETROIT / LOS ANGELES, Sept. 14 (Reuters) – Biden administration officials hosted labor contract talks late Wednesday to head off a potential rail closure that could disrupt freight shipments and prevent supplies of food and fuel. but a small union refused a deal and Amtrak canceled all long-distance passenger travel. Railways, including Union Pacific (UNP.N), … Read more

EXCLUSIVE US weighs China’s sanctions to discourage Taiwan’s action, Taiwan presses the EU

TAIPEI / FRANKFURT / WASHINGTON, Sep 13 (Reuters) – The United States is considering options for a sanctions package against China to dissuade it from invading Taiwan, with the European Union coming under diplomatic pressure from Taipei to do the same , according to sources familiar with the discussions. The sources said the separate Washington … Read more

The Fed has seen it become more aggressive with the roar of inflation

Sep 13 (Reuters) – The Federal Reserve is likely to raise U.S. borrowing costs faster and further than previously expected, after Tuesday’s data showed underlying inflation widening rather than slowing as expected. Overall consumer prices rose 0.1% last month from July – economists were expecting a decline – and gained 8.3% over the previous year … Read more

Stubbornly high rents, food prices push US inflation in August

The consumer price index rose by 0.1% in August Rent, food and healthcare contribute to the rise in CPI Core CPI increased by 0.6%; it increased by 6.3% year over year WASHINGTON, Sept.13 (Reuters) – U.S. consumer prices rose unexpectedly in August, and underlying inflation accelerated due to rising rental and healthcare costs, giving the … Read more