Economy Archives - Page 47 of 58

AAA Warns Gas Prices Rising at Fastest Pace Ever as Russia Readies More Bombings

The American Automobile Association (AAA) has warned that U.S. gas prices are rising at the fastest pace ever. According to AAA, the average price per gallon of unleaded gasoline jumped 9 cents at domestic service stations Friday to $3.84. It jumped by 7 cents Thursday and a week ago drivers…

US Is Funding Russia’s Invasion of Ukraine by Importing Russian Oil, Congressman Warns

A Republican congressman has warned that America is funding Russia's invasion of Ukraine by continuing to import Russian oil. Democrat President Joe Biden's administration has imposed several rounds of sanctions against Russia since it invaded Ukraine. However, the Biden admin has refused to cut off the import of Russian oil…

Russia Passes Law Imposing 15-Year Prison Term for Spreading ‘Lies’ about Military

Russia has passed a new law that imposes a 15-year prison term for anyone convicted of spreading false information about the Russian military. No lawmakers in either parliamentary chamber opposed the bill during the Friday vote. Vyacheslav Volodin, speaker of the Russian Duma, the country’s lower house of parliament, said…

Republicans Urge Pennsylvania Governor to Unleash State’s Immense Gas Reserves

Pennsylvania House Republicans are urging Democrat Governor Tom Wolf to unleash the state’s natural gas stores as energy costs soar around the world. Lawmakers are looking at the instability of the European energy markets and calling for an increase in domestic supplies. The largest natural gas reserve in the United…

FIFA Bans Russian Anthem and Some Matches, Refuses to Exclude from World Cup

The international soccer governing body FIFA has announced a series of restrictions against Russia amid the ongoing invasion of Ukraine. FIFA announced a number of restrictions against Russia on Sunday that include a ban on the Russian national anthem and an end to "home" matches. However, the sports governing body…

World Hits Putin Where It Hurts, Expels ‘Selected’ Russian Banks from SWIFT

The White House has announced that the United States and allies are taking action that could potentially cripple Russia's economy in response to the Ukraine invasion. Western nations have agreed to ban certain Russian banks from accessing the SWIFT international banking system (Society for Worldwide Interbank Financial Telecommunication). The move…

West Pushing for ‘Financial Nuclear Option’ of Banning Russia from SWIFT

Nations in the West are pushing for the "financial nuclear option" of banning Russia from SWIFT over the invasion of Ukraine. According to Lithuania’s prime minister, Western partners are inching closer to ejecting Russia from the SWIFT global interbank payments system. “Our goal is that the decision is taken as…

Russia Claims Country Will Survive ‘Emotional’ Market Reaction to Ukraine Invasion

Russia has insisted that it will survive the “emotional” financial market reaction to Moscow’s invasion of Ukraine. Kremlin spokesman Dmitry Peskov responded as Western countries, including the United States, have begun sanctioning Russian entities while promising tougher punitive measures. Peskov said Thursday, just hours after launching the invasion, that Russia…

Russia’s Ex-President: Gas Prices to More Than Double after Nord Stream 2 Freeze

Russia's former President Dmitry Medvedev has warned that gas prices will more than double after Germany announced a freeze on the Nord Stream 2 pipeline. Medvedev said Tuesday that he expects Europeans will soon face a mammoth rise in natural gas prices in response. Germany announced the freeze over Moscow’s…

Billionaire Carl Icahn Doubles Down on Campaign against McDonald’s over Pig Policy

Billionaire Carl Icahn has ramped up his campaign against McDonald’s over the fast-food giant's pig sourcing policy, which the activist investor says is obscene. McDonald’s sources pigs from suppliers who continue to keep pregnant sows in gestation crates. Icahn has nominated Maisie Ganzler, chief strategy, and brand officer at Bon…