Europe hails united stance on Russia’s war in Ukraine

PRAGUE (AP) — Leaders from across Europe on Thursday hailed their united front against Russia’s war on Ukraine at a summit that also saw the leaders of old foes Turkey and Armenia, meet face to face for the first time since agreeing last year to put decades of bitterness behind them. The inaugural summit of … Read more

Millions of Britons set to pay more stealth tax despite cuts, study finds

British Prime Minister Liz Truss’ government has pledged to freeze the tax-free personal allowance threshold until 2025-26, essentially pushing more workers into a higher tax bracket over time. Jacob King | Pa pictures | Getty Images LONDON — Millions of British workers are set to pay more ‘stealth’ taxes over the next few years, even … Read more

Gas prices are on the rise again. Further increases are in progress

New York CNN Business — Even before Wednesday’s action by OPEC+ to cut oil production, gas prices in the United States were on the rise. More price increases at the pump are likely to come. Gas prices rose nearly 3 cents a gallon in the AAA’s daily reading on Wednesday, to $3.83 a gallon, the … Read more

Ford raises price of new F-150 by $5,000 amid inflation

Ford Motor is raising the price of its F-150 Lightning Pro electric truck for the 2023 model year by nearly 11%, seeking to cushion the blow from ongoing supply chain snags and high inflation since decades, a spokesman for the automaker said Wednesday. Pricing for the new model was set at $51,974, down from $46,974 … Read more

Ford raises starting price of electric F-150 Lightning to $51,974

Ford F-150 Lightning pickup trucks are displayed at the Ford Rouge Electric Vehicle Center on April 26, 2022 in Dearborn, Michigan. Bill Pugliano | Getty Images DETROIT — Ford Motor is raising the starting price of its F-150 Lightning electric pickup truck by $5,000 for the 2023 model year, citing rising costs and supply chain … Read more

UK’s Liz Truss pledges to cut taxes in future in protest-ridden speech

Prime Minister Liz Truss is seeking to rally MPs around her to her tax cut policies following infighting and market turmoil. Jacob King | Pa pictures | Getty Images LONDON — British Prime Minister Liz Truss insisted on Wednesday that cutting taxes was “the morally and economically the right thing to do”, doubling down on … Read more

US national debt now tops $31 trillion

Minneapolis CNN Business — The US national debt soared north of $31 trillion for the first time, a milestone that comes at a time of historically high inflation, rising interest rates and growing economic uncertainty. The country’s total public debt stock closed at $31.1 trillion on Monday, according to Treasury Department data released on Tuesday. … Read more

Asian stocks rise after ‘relief rally’ on Wall Street

TOKYO (AP) — Asian stocks rose on Tuesday, buoyed by a rally in U.S. stocks after some weak economic data raised hopes the Federal Reserve could back away from aggressive interest rate hikes. Japan’s benchmark Nikkei 225 added 2.3% in morning trade to 26,811.08. Australia’s S&P/ASX 200 jumped 2.4% to 6,610.50. The South Korean Kospi … Read more

Los Angeles County average gas price hits record high of $6.46

LOS ANGELES (KABC) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose seven-tenths of a cent to a record high of $6,466 on Monday, topping the previous high of $6,462 set on June 14. The average price has risen for 31 straight days, rising $1.22, including 1 cent … Read more

Inflation in Turkey reaches 83%; Erdogan promises to continue cutting rates

Exchange rate information at an exchange office in Istanbul, Turkey in June. Inflation for the country of 84 million people has soared over the past two years, especially when Turkish President Recep Tayyip Erdogan insists on continuing to cut interest rates rather than raise them, which which deviates from the conventional way of controlling inflation. … Read more