Today, the Commerce Department released a snapshot of its growth report for the first quarter. The country’s gross domestic product (GDP) grew by just 1.6 percent, its slowest pace in nearly two years. Further, inflation rates have also risen dramatically. Many economists are describing this as “the worst of both worlds.” Economists polled by Reuters […]
Economic growth increased at a slower pace than economists had predicted in the first quarter, while President Biden continued to deliver a positive message about the economy. NBC News' Peter Alexander reports.
Literally the day after President Biden bragged, "We're following my blue collar blueprint to rebuild America, and guess what? It's working!", Bidenomics struck with a vengeance Thursday.
What happens when there's slow economic growth and high inflation? Economists call that "stagflation," and given the slowing growth in the first quarter of 2024 and the higher inflation in February and March, we may be reliving that ghastly economic phenomenon.
By SYLVIA HUI Associated Press LONDON (AP) — Amnesty International says the world is seeing a near breakdown of international law amid flagrant rule-breaking in Gaza and Ukraine, multiplying armed conflicts, the rise of authoritarianism and huge rights violations in Sudan, Ethiopia and Myanmar. The human rights organization’s annual report, released Wednesday, said the most
By SYLVIA HUI Associated Press LONDON (AP) — Amnesty International says the world is seeing a near breakdown of international law amid flagrant rule-breaking in Gaza and Ukraine, multiplying armed conflicts, the rise of authoritarianism and huge rights violations in Sudan, Ethiopia and Myanmar. The human rights organization’s annual report, released Wednesday, said the most
The global economy is set for another year of slow but steady growth, the International Monetary Fund said on Tuesday, with U.S. strength pushing world output through headwinds from lingering high inflation, weak demand in China and Europe, and spillovers from two regional wars. The IMF forecast global real GDP
Andriy Kobolyev calls for more weapons after Russia destroys one of Ukraine’s largest power plantsA dramatic rise in European energy prices is inevitable if the Russian destruction of Ukrainian energy infrastructure continues unabated, the former chief executive of Ukraine’s state-owned oil company has warned.Andriy Kobolyev, a former head of Naftogaz, said in an interview with the Guardian: “Russia is trying to wage a global energy war and Ukraine is part of that war and if the markets perceive...
GDP will grow just 0.5 per cent in 2024, International Monetary Fund predicts. Analysts also found GDP of UK has largely been boosted by migrant workers. UK slipped into recession at end of last year but is now on its way to recovery
Former president’s comments are being described as a shift in tone days before Republicans vote on a multibillion-dollar aid package. What we know on day 786See all our Ukraine war coverageDonald Trump has said the survival of Ukraine is important to the US, in what Reuters describes as a shift in tone days before Republicans are due to vote on a $61bn aid package in the US House of Representatives. “As everyone agrees, Ukrainian Survival and Strength should be much more important to Europe than...
World leaders called for calm and restraint in the aftermath of Iran's large-scale air attacks on Israel.
Ukraine’s Col Gen Oleksandr Syrskyi says Russia has intensified armoured assaults as battles rages over village near Bakhmut. What we know on day 781See all our Russia-Ukraine war coverageGermany will supply a US-made Patriot air defence system and air defence missiles to Ukraine at a “critical time”, as Kyiv struggles to defend its energy system from Russian bombardment, Volodymyr Zelenskiy said on Saturday. Zelenskiy said on the Telegram messaging app that he was grateful to Germany’s...