Author: David Mchugh
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US military says it intercepted Iranian attacks on 3 Navy ships in Strait of Hormuz
DUBAI, United Arab Emirates (AP) — The U.S. military said it intercepted Iranian attacks Thursday on three Navy ships in the Strait of Hormuz and “targeted Iranian military facilities responsible for attacking U.S. forces.” U.S. Central Command said in a social media post that U.S. forces intercepted “unprovoked Iranian attacks” and responded with self-defense strikes.…
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Energy prices surge as tanker disruptions, facility shutdowns, rattle global supply
FRANKFURT, Germany (AP) — Oil prices rose sharply Monday as disruptions to tanker traffic through the Strait of Hormuz chokepoint raised uncertainty about how U.S. and Israeli attacks on Iran would affect supply to the world economy. U.S. oil traded 7.6% higher at $72.12 per barrel, while international standard Brent was up 8.6% at $79.11…
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Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer
The European Central Bank has left its key interest rate at a record high even though inflation is way down from its painful double-digit peak and the economy has stalled
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European inflation eases to 2.6% as energy prices fall and food inflation slows
Inflation just keeps dropping in Europe
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Conflict in the Middle East is affecting a key energy lifeline for Europe. How big is the risk?
Attacks on shipping in the Red Sea by Yemen’s Iranian-backed Houthi rebels are disrupting a key trade route for energy supplies to Europe
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Ukraine, IMF agree on $15.6 billion loan package
FRANKFURT, Germany • Ukraine and the International Monetary Fund have agreed on a $15.6 billion loan package aimed at shoring up government finances severely strained by Russia’s invasion and leveraging even more support by reassuring allies that Ukraine is pursuing strong economic policies and fighting corruption. Ukraine’s finance ministry said Wednesday that the program will…
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Airbus, Rolls-Royce, Siemens developing a hybrid plane
FRANKFURT, Germany — Airbus, Siemens and Rolls-Royce are teaming up to develop a hybrid passenger plane that would use a single electric turbofan along with three conventional jet engines running on aviation fuel. The plane is an effort to develop and demonstrate technology that in the future could help limit emissions of carbon dioxide from…
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Ukraine: 49 dead as rebels down military plane
NOVOHANNIVKA, Ukraine (AP) — Pro-Russia separatists shot down a Ukrainian military transport plane Saturday, killing all 49 crew and troops aboard in a bloody escalation of the conflict in the country’s restive east. It was a bitter setback for the Ukrainian forces, which have struggled to suppress an armed insurgency by foes of the new…
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Russia sets Ukraine agenda with diplomacy, threats
KIEV, Ukraine — Russian troops said to be 16,000 strong tightened their stranglehold on Ukraine’s Crimean Peninsula Monday, openly defying the U.S. and the European Union and rattling world capitals and stock markets. The West struggled to find a way to get Russia to back down, but with little beyond already threatened diplomatic and economic…