Crown Prince Mohammed bin Salman of the Kingdom of Saudi Arabia. Kevin Dietsch-Pool/Getty Images Saudi Arabia pushed other OPEC nations to support huge oil output cuts, the White House said. A feud has broken out between the Biden administration and the Saudis after the OPEC decision. There will be “consequences” for Saudi Arabia for aligning…
Nouriel Roubini. REUTERS/Rick Wilking Economics professor Nouriel Roubini warned the global economy faces a stagflationary debt crisis. Reckless borrowing has amplified the risks of stubborn inflation and economic stagnation, he said. Roubini, known as “Dr Doom”, predicted an imminent US recession and more pressure on stocks and bonds. The debt-ridden global economy could face a…
EU foreign policy chief Josep Borrell speaking in Brussels on October 13, 2022 AFP/YouTube The EU’s tio diplomat said Russia’s army would be “annihilated” if Putin used a nuke in Ukraine. Josep Borrell said the West’s response would be devastating but not nuclear. Putin has suggested multiple times that he is willing to use Russia’s…
Sen. Cory Booker of New Jersey. AP Photo/Amanda Andrade-Rhoades Sen. Cory Booker is fundraising for former Rep. Gabrielle Giffords’ anti-gun super PAC. In the past, Booker was opposed to super PACs, saying “there should be no super PACs for anyone.” The Democratic senator from New Jersey, who ran for president in 2019, rejected contributions from…
A Nike store. Getty Images Nike is the most popular clothing brand for teenagers in the US, according to a semiannual survey. Nearly a third of Gen Zers identified the brand as their favorite. Lululemon and American Eagle are also top retail picks as teens value comfort and casual fashion. Nike remains the most popular…
Billionaire Elon Musk is being investigated by federal authorities, according to Twitter. Reuters Elon Musk is being investigated by federal authorities, Twitter said in a court filing. On October 6, Twitter requested that Musk’s team hand over any correspondence with federal authorities. The company did not specify the exact focus of the investigation. Billionaire Elon…
The Airbus A321 flew back to Manchester airport the following day. (Note: Picture is not the plane involved in the incident.) SOPA Images / Contributor / Getty A passenger flight from Turkey to the UK was intercepted by fighter jets after a security alert Wednesday. The Jet2 flight was diverted to London Stansted, around 200…
Russian soldiers stand near a Topol-M ICBM while participating in a rehearsal for the nation’s Victory Day parade outside Moscow. ALEXANDER NEMENOV/AFP via Getty Images With the world holding arsenals of nuclear weapons, the risk of nuclear war is always present. Tensions have been rising with Russian threats around the war in Ukraine. Here’s what…
TGIF! It’s Dan DeFrancesco checking in from NYC. I’d like to start by wishing a happy bank earnings day to all those who celebrate. Four of the big six US banks (JPMorgan, Morgan Stanley, Citigroup, and Wells Fargo) all report their Q3 earnings today. Our friends over at Markets Insider will have the immediate reaction…
Kwasi Kwarteng is set to be sacked as the UK’s chief finance minister, according to reports. Ian Forsyth/Getty Images UK finance minister Kwasi Kwarteng has been fired from his current role on Friday, according to the Times. His tax cut proposals have rattled markets for weeks, with yields on gilts soaring. Prime Minister Liz Truss…