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Inflation has not peaked, oil prices will continue to rise: Energy expertOil Associates President Andy Lipow said gas prices could approach $5 a gallon if oil continues to rise following the EU’s decision to ban most Russian imports.

Biden admin will provide Ukraine with longer-range rocket systemsA senior official said Tuesday that Ukraine had agreed not to use the new longer-range rocket systems, called MLRS, to fire rockets into Russia.

25% of Americans are delaying retirement due to inflation - Verve timesA customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California. Justin Sullivan | Getty Images Americans’ finances are being squeezed as inflation pushes up prices on things such as rent, groceries and gasoline. As a result, one-quarter of Americans will have to delay their retirement, according to […]

8 out of 10 Americans Tightening Belts to Offset Soaring InflationThe majority of Americans are trying all kinds of things to offset the impact of inflation and rising ...

"No restrictions": NATO to take more aggressive stance against RussiaMircea Geoană did not provide any details of a planned deployment, but said there would be "a robust, flexible and sustainable presence" in eastern Europe.

Economic Pessimism Growing in U.S.Americans' already-low economic confidence fell further in May.

'The whole world' is racing to buy the drones that have helped Ukrainians obliterate Russian tanks and missile launchers, their designer saysThe Bayraktar TB2 drone rains laser-guided missiles on enemies from 25,000 feet. Now, its creator says, armies worldwide are clamoring to get it.

Why the Bayraktar TB2 Drone Was Such a Game Changer in UkraineOne of the most effective weapon systems used in Ukraine is the Bayraktar TB2 tactical unmanned aerial system. Since the start of the conflict, the Ukrainian Air Force has used the drone to great tactical and psychological effect. Bayraktar TB2: Features and Weapons The Bayraktar TB2 is a tactical unmanned aerial system manufactured in Turkey. […]

World stocks mixed, oil prices trade near $120 a barrelWorld shares were mixed Tuesday after the European Union agreed to embargo most Russian oil imports by the year’s end, sparking a fresh spike in oil prices. Shares fell in Frankfurt, Paris and Toky…

Brent Crude Hits $120 As Driving Season Officially Kicks Off In U.S. | OilPrice.comBrent crude oil reached $120 per barrel on Memorial Day—the official kickoff of the summer driving season in the United States

EU Salvages Unity With Deal to Ban Most Russian OilWelcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

EU agrees on partial ban of Russian oil imports The European Union has agreed on a partial ban on Russian oil imports, according to European Council chief Charles Michel.

Zelensky: End of war depends on West’s position and Russia’s desire The end of the war depends on both the West's united position on aid to Ukraine and Russia's desire to sit down at the negotiating table. — Ukrinform.

Ukraine’s Zelensky Calls for Western Unity as Russia Advances - The Moscow TimesRussia is now focused on expanding its gains in eastern Donbas, home to pro-Russian separatists, as well as the southern coast.

One million people will crash into extreme poverty every 33 hours, Oxfam warnsWhile the global number of billionaires continues to increase, Oxfam has warned that workers are "working harder, for less pay and in worse conditions."

Report: As food prices rise, and poverty grows, a new billionaire has been minted nearly every day during the pandemic(CNN) — The Covid-19 pandemic has been good for the wallets of the wealthy.Some 573 people have joined the billionaire ranks since 2020, bringing the worldwide total to 2,668,...

Biden says recession is not inevitable but acknowledges economic painPresident Joe Biden said Monday he believes a recession in the US is not inevitable but acknowledged the economic pain that Americans are feeling amid high inflation, supply chain shortages and the geopolitical earthquake caused by Russia's invasion of Ukraine.

Recession fears could cause new problems for the Biden administrationThe Federal Reserve is trying to slow soaring inflation and warning of a possible recession, potentially creating more problems for the Biden administration.

Biden: Global Monkeypox Cases Are Something “To Be Concerned About”“We’re working on it hard to figure out what we do,” the president said in his first public comments on the infectious disease.

Biden says monkeypox cases something to ‘be concerned about’In his first public comments on the disease, Biden added: “It is a concern in that if it were to spread it would be consequential.”

Jif issues voluntary recall of certain peanut butter products due to potential Salmonella contaminationThe J.M. Smucker Company is recalling multiple Jif peanut butter products because of potential Salmonella contamination that has caused at least 14 people to become sick so far.

Select Jif products recalled for potential salmonellaSalmonella is an organism that can cause serious and sometimes fatal infections in children, people with weak immune systems and the elderly. US, South Korea open to expanded military drills to det…

Mayor Eric Adams not worried about monkeypox spreading in NYCMayor Eric Adams brushed off any concerns about the spread of monkeypox in the Big Apple Saturday – where at least one case of the rare disease is already detected.

New York City resident tests positive for monkeypox virusALBANY, N. Y. (AP) — A New York City resident has tested positive for the virus that causes monkeypox, state health officials announced late Friday. The unidentified patient is isolating and treating the case as positive while awaiting final confirmation by the Centers for Disease Control. New York City public health officials said Thursday they were investigating two potential cases of monkeypox, a rare virus rarely seen outside of Africa that can cause flu-like symptoms.

Is a recession coming? Signs the economy is beginning to crackWall Street is increasingly convinced that the Federal Reserve is going to drag the economy into a recession with its war on inflation.

Economists Warn A Recession Could Occur Over The Next 24 MonthsThreats of a recession are on the horizon as the economy starts to feel the heat from record-high inflation and climbing interest rates.

Russia cuts off natural gas supply to Finland amid NATO disputeFinnish energy company Gasum announced on Saturday that Russia cut off its natural gas supply to Finland following moves by the Nordic country and Sweden earlier this week to formally apply to NATO…

Russia's Gazprom cuts off Finland from gas supply amid NATO applicationRussia has cut off Finland's natural gas after the Scandinavian country made clear its desire to join NATO and refusal to pay in Russian currency.

New York City patient tests positive for virus related to Monkeypox Patient is presumed to be positive ahead of CDC confirmation, likely making them the second confirmed case on US soil this year

What is monkeypox, the rare virus now confirmed in the U.S. and Europe?Scientists are trying to answer questions about the outbreak of a disease not known to spread easily among humans.

No changes to NYC mandates; several NYC judges COVID positive, report saysCOVID isn't over. One example is the fact that some 20 New York City judges are now COVID positive after they attended a retreat in Montauk last weekend, according to published reports.

NY COVID Hospitalizations at 3-Month High, Rise 25% in 10 Days as Fifth Wave IntensifiesThe CDC COVID map is expected to show upgraded levels for all 62 counties in New York at its next update, based on the latest COVID transmission and hospitalization data available.

Mean temperatures, sea levels and carbon emissions at record highClimate alert: Probability of mean temperatures crossing 1.5 degrees in five years has increased to 50 per cent: World Meteorological Organisation report

Ocean pollution went deeper than ever! - Energy Live NewsOcean acidification has reached the highest level in 26,000 years, according to a new report

US home sales continue to stumble while mortgage rates keep climbingThe median home price in April leaped 14.8% from 2021 to $391,200, a new all-time high going back to 1999, the National Association of Realtors said.

Existing-Home Sales Retract 2.4% in AprilExisting-homes sales fell again slightly in April, with two regions of the U.S. posting gains and the other two regions recording a dip. Year-over-year, all four regions saw declines in existing-home sales.

Netflix 'axes wokest staff' as profits tankThe struggling streaming service has pulled the plug on several projects that were aimed at discussing race to a young audience and axed the diverse employees working on and promoting them.

Netflix Faces Outrage After Laying Off Queer, Diverse Staff Among 150 EmployeesThe report also stated that Netflix laid off 60 to 70 contractors working on its social media and publishing channels, including Strong Black Lead, Golden, Con Todo and Most.

Ford, Mercedes-Benz among vehicle recalls this weekThe U.S. National Highway Traffic Safety Administration has issued recalls for the week of May 12 through 19, including vehicles from Ford and Mercedes-Benz.

Ford recall: 39K SUVs at-risk of a serious malfunctionIf you have a Ford or Lincoln SUV, you might want to leave it outside. The automaker recalled certain models due to the engine being at-risk of catching fire.

New Data: Financial Health Plummets During Pandemic For Millennials, Gen ZTwo years into the pandemic, financial optimism among the under-40 population worsened compared to a year prior.

Consumers are still spending, but most say their finances have sufferedThe Commerce Department reported Tuesday that retail sales rose 0.9% in April, showing that consumers are still spending money in the face of higher inflat

Meta Says Metaverse Will Be Worth $3TMeta’s president of global affairs is defending Meta’s eye-popping metaverse investments, saying he believes the tech will change how consumers use the web.

Meta defends its gamble on the metaverse, says it'll be worth $3 trillionMeta's Nick Clegg is defending the company's investment in the metaverse and laying out its plans for the future.

Sixth child in US dies of unexplained hepatitis as global cases top 600There are now over 600 cases worldwide and 15 deaths, but still no firm answers.

6th child dies in connection to mysterious hepatitis cases with unknown cause Officials had previously reported that the deaths of five other children were also under investigation in connection to the hepatitis cases.

House passes bill to crack down on alleged gas price gougingNo Republicans supported the bill, which suggests it's likely to fail in the Senate.

U.S. House passes bill to fight oil and gas price gougingThe U.S. House passed a bill on Thursday that allows the U.S. president to issue an energy emergency declaration, making it unlawful for companies to excessively increase gasoline and home fuel prices.

NASA has identified 'something weird' happening to the universeThe Hubble Space Telescope has been providing a huge amount of data for the scientists to study and NASA believes that something strange is happening in the universe considering how fast it is expanding.

"Something Weird" Going On In Universe: NASA Over Hubble Telescope DataThe study of the expansion of the universe began in 1920 with measurements by astronomers Edwin P Hubble and Georges Lemaitre.

4% rule about how much to spend each year of retirement no longer works, creator saysThe creator of the 4% retirement says it needs to change because of the combination of high inflation and high stock and bond market valuations.

Finance professor: Don't use the '4% rule of retirement.' Here's how to determine how much money you can withdraw in retirement — and it might be more than you think.Eugenio Dante Suarez, associate professor of finance at Trinity University, says the "perfect withdrawal amount" isn't 4%.

Drought, high temperatures could cause blackouts in large parts of the US this summerLarge parts of the United States could see blackouts this summer due to supply chain issues compounded by extreme weather conditions such as draught and high temperatures, according to a North American Electric Reliability Corp report.

Blackouts possible this summer due to heat and extreme weather, officials warnExtreme temperatures and ongoing drought could cause the power grid to buckle across vast areas of the country this summer, potentially leading to electricity shortages and blackouts, a US power grid regulator said Wednesday.

U.S. Economy Is Headed for a Downturn, Wells Fargo CEO Says “It’s going to be hard to avoid some kind of recession,” CEO Charlie Scharf said at the WSJ’s Future of Everything Festival. Fed Chairman Jerome Powell and other executives are also set to speak on the first day of the event.

Elon Musk says the US is probably in a recession that could last 18 months, adding that 'recessions are not necessarily a bad thing'The world's richest man made the comment at a Miami tech conference. He joked that an "economic enema" would eventually need to "clear out the pipes."

‘Apocalyptic’ food prices will be disastrous for world’s poor, says Bank governorBank of England’s Andrew Bailey blames UK’s highest inflation rate for three decades on Russia-Ukraine war and Covid

Bank of England warns of 'apocalyptic' global food shortageGovernor Andrew Bailey says he is 'helpless' in face of surging inflation

US gas prices have reached a new all-time high today: $4.48 per gallonGas prices in the US reached all-time high at $4.48 per gallon national average. States recording the highest average gasoline prices as of Monday are California ($5.98) and Hawaii ($5.32)

$5 gas could become widespread as prices hit another recordPrices at the pump continue to shatter records ahead of Memorial Day weekend.

Huge ‘narco-tunnel’ with electricity and a rail line uncovered in US drugs bust‘There is no more light at the end of this narco-tunnel’, says US attorney

Cross-border tunnel length of six football fields found linking Tijuana, San DiegoThe secret passage, which was discovered near San Diego’s Otay Mesa border crossing, featured rail and ventilation systems, electricity and reinforced walls, authorities said.

Russia threatens nukes for US, UK, Finland if NATO expandsA Russian leader threatened to use the Satan-2 hypersonic nuclear missile to strike Britain and Finland “in just 200 seconds.”

Russian energy supplier cuts off electricity to Finland amid NATO bidA Russian energy supplier officially cut off electricity to Finland on Saturday ahead of the Nordic country’s expected announcement that it plans to join NATO. “It is at zero at the moment, a…

Putin prepping 'prolonged conflict' beyond Donbas, could escalate nuclear threats: Top US intel officialVladimir Putin is preparing for a "prolonged conflict," and could resort to drastic measures if the fighting doesn't go his way, a top U.S. intelligence official said.

Top US spy chief says war in Ukraine will likely become 'more unpredictable and escalatory' | CNN PoliticsThe US intelligence community believes that Russian President Vladimir Putin's war in Ukraine is likely to become "more unpredictable and escalatory" in the coming months, the nation's top spymaster told Congress on Tuesday.

Gas prices jump to fresh record highs | CNN BusinessIn another blow to the US economy, prices at the pump soared to fresh record highs.

US gas prices back near record highs, hammering motoristsUS motorists gearing up for their warm weather road trips are set to encounter fresh record high gas prices this week as inflation continues to hammer household budgets.

Stock market’s plunge continues on new concerns about global economy.New data from China is adding to worries over high inflation, rising interest rates and supply chain disruptions.

Wall Street’s losses worsen as markets tumble worldwideThe sell-off came as renewed worries about China’s economy piled on top of global financial markets already battered by rising interest rates.

Airbnb CEO: Full-time office work is ‘over’Airbnb boss Brian Chesky is doubling down on his view that traditional full-time office jobs are an outdated notion – arguing in a recent interview that onsite work is “from a pre-digital age” that…

Airbnb CEO Says Working in Office Is Relic From 'Pre-Digital Age'

More than half a million pounds of precooked chicken recalledAlabama-based Wayne Farms is recalling more than half a million pounds of ready-to-eat chicken that may be undercooked, the Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced this weekend.

Recall alert: Wayne Farms expands frozen chicken recall by more than 277 tonsMore than 585,000 pounds of the chicken have now been recalled.

More human remains discovered at Lake Mead after body found in barrelMore human remains were found at drought-stricken Lake Mead in Nevada – just days after boaters discovered a decomposing body in a barrel, authorities said.

Lake Mead drought exposes more human remainsMore human remains were discovered at Lake Mead in Nevada Saturday afternoon following last week’s discovery of other human remains in a barrel at the newly exposed bottom of the lake.

COVID Positivity Tops 20% in Hot NYC Neighborhood as 5th Wave IntensifiesCOVID positivity rates in parts of New York City are back over 20% as the 5th wave of the pandemic spreads throughout the state, driven by a highly contagious new subvariant. The rolling seven-day positivity rate in Long Island City now stands at 21.3%, according to the latest data posted by the city. Large swaths of Queens near or top…

Bitcoin falls to 10-month low as stock markets tumbleBitcoin fell to its lowest level since July 2021 on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks.

Putin blames the West for Ukraine war in 'Victory Day' speechPresident Vladimir Putin on Monday tried to defend Russia's unprovoked invasion of Ukraine in his annual "Victory Day" speech.

Russian TV Hack? ‘Blood On Your Hands’ Anti-War Message Appears During Victory Day ProgrammingThe message “On your hands is the blood of thousands of Ukrainians and hundreds of their murdered children,” appeared on the TV guide of several major Russian cable providers.

Grid operators warn of electricity shortage amid switch to renewables: ReportElectric-grid operators from across the country are warning of the potential for blackouts as companies attempt to transition to green energy sources.

Electricity Shortage Warnings Grow Across U.S.Electric-grid operators are warning that power-generating capacity is struggling to keep up with demand, a gap that could lead to rolling blackouts during heat waves or other peak periods as soon as this year.

CIA director says Putin is preparing to 'double down' in war effortsCIA Director William Burns warned on Saturday that Russian President Vladimir Putin could “double down” on harsh tactics to give his nation an upper hand in its invasion of Ukraine.

No way to negotiate end to Russia-Ukraine war, Graham says"There is no off-ramp in this war," the South Carolina Republican said.

Ukraine: 3 Russian ships by Snake Island destroyed with Bayraktar droneSnake Island, also known as Zmiinyi Island, has become a symbol of Ukrainian resistance against the Russian invasion.

Ukraine Says It Sank Another Russian Ship Near Snake Island“The traditional parade of the Russian Black Sea fleet on May 9 this year will be held near Snake Island—at the bottom of the sea,” Ukraine’s Defense Ministry said.

Hundreds of Suicidal Teens Sleep in Emergency Rooms. Every Night.With inpatient psychiatric services in short supply, adolescents are spending days, even weeks, in hospital emergency departments awaiting the help they desperately need.

Children in Need of Psychiatric Care End Up Waiting in ER for DaysCovid-19 left Massachusetts hospitals too short-staffed for a surge of mental health patients

US announces sanctions against Kremlin-controlled media companies and bans Russia from using some American consulting servicesThe US announced a slate of new sanctions against Russia on Sunday, cutting off Kremlin-controlled media outlets from American advertisers and prohibiting the country from using US-provided management and accounting consulting services, according to a senior administration official and a White House fact sheet.

The baby formula supply problem is getting worseFor months stores nationwide have been struggling to stock enough baby formula. Manufacturers say they're producing at full capacity and making as much formula as they can, but it's still not enough to meet current demand.

U.S. unveils additional sanctions targeting Russian media, financing and elitesThe announcement came as Biden met virtually with leaders of the Group of Seven advanced economies and Ukrainian President Volodymyr Zelenskyy.

Baby formula shortage worsens: About 40% of popular brands sold out across USDemand for infant formula continues to grow as supplies are sold out. A recall affecting the maker of Similac in February heightened supply concerns.

Wall Street edges lower to end a bruising weekThe three major U.S. indexes are flashing red despite a stronger-than-expected jobs report for April.

U.S. stocks end lower after jobs data, as S&P 500 suffers its longest losing streak since 2011All three major U.S. stock benchmarks close lower Friday, each booking another week of losses, as investors weighed April jobs data amid heightened...

Italy freezes $700 million mega-yacht linked to "prominent elements of the Russian government"There have been fears that the 459-foot long yacht, which has been in dry dock in the port of Marina di Carrara, was preparing to sail out of Italian waters soon.

Italy Freezes Giant Yacht Thought to Belong to Vladimir PutinThe move came after reports the vessel may have been gearing up to soon leave the shipyard in Tuscany.

Why US politicians are trying to break the world's oil cartel now | CNN BusinessA decades-old, failed effort by United States politicians to break the chokehold of a select few countries on the oil market has found new life as the war in Ukraine raised prices to an almost 14-year high.

US Senate committee passes antitrust bill pressuring OPECA US Senate committee passed a bill on Thursday that could expose the Organization of the Petroleum Exporting Countries and partners to lawsuits for collusion on boosting crude oil prices.  The No Oil Producing or Exporting Cartels (NOPEC) bill sponsored by senators, including Republican Chuck Grassley and Democrat Amy Klobuchar, passed 17-4 in the Senate Judiciary Committee. White House spokesperson Jen Psaki said the administration has concerns about the "potential implications and unintended consequences" of the legislation, particularly amid the Ukraine crisis.

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