International

US consumer confidence dips in November: survey

| By AFP |

US consumers were gloomier about the state of the American economy in November, likely due to a rise in gas prices and as recession risks loom, according to a survey released Tuesday.

The closely-watched consumer confidence index dipped to 100.2 in November, down two points from the month before, in a second straight month of decline, said think tank The Conference Board.

“Consumers’ expectations regarding the short-term outlook remained gloomy,” said Lynn Franco, senior director of economic indicators at The Conference Board.

The drop in consumer confidence this month, in line with analyst expectations, was “most likely prompted by the recent rise in gas prices,” she said.

20260224_estafa_mh_728x90

Data on consumers’ short-term outlook suggests the likelihood of a recession remains elevated as well.

“Inflation expectations increased to their highest level since July, with both gas and food prices as the main culprits,” Franco said.

Consumer inflation in the United States has been hovering at the highest level in decades, prompting the Federal Reserve to take aggressive steps to raise interest rates and cool the economy.

The central bank walks a tightrope trying to bring down surging costs while avoiding tipping the world’s biggest economy into a downturn.

For now, consumer intentions to buy homes, automobiles and big-ticket appliances have moderated.

20260224_estafa_mh_728x90

“The combination of inflation and interest rate hikes will continue to pose challenges to confidence and economic growth into early 2023,” Franco said.

But with inflation showing signs of easing and central bankers noting it would take time for policy effects to be realized, a growing number of voices including Fed officials have advocated for smaller steps in the coming months.

The consumer sentiment reading “remains depressed compared to pre-pandemic” levels, said economist Rubeela Farooqi of High Frequency Economics.

Overall, measures of sentiment “are sending a negative signal about household spending,” even if consumption continues to support growth for now, she added.

20260224_estafa_mh_728x90

International

Trump Delays Potential Iran Strikes as Regional Peace Talks Continue

Donald Trump announced a new deadline for potential military action against Iran, saying he would temporarily delay planned strikes while regional negotiators continue efforts to secure a peace agreement.

Speaking at the White House, Trump said he decided to postpone the operation after receiving requests from the leaders of Qatar, Saudi Arabia and United Arab Emirates.

The U.S. president explained that the pause would remain in place for only a limited period, adding that discussions could continue through the end of the week or early next week.

Trump also warned that military action remained a possibility if negotiations fail to produce results, stressing that the United States could not allow Iran to acquire a nuclear weapon.

“Maybe we’ll have to hit them again,” Trump said, referring to Iran while reiterating his willingness to resume military operations if necessary.

20260224_estafa_mh_728x90

International

FAO Urges Urgent Action as Hormuz Disruption Threatens Global Food Supply

A prolonged closure of the Strait of Hormuz could trigger a “systemic agri-food shock” capable of causing a major global food price crisis within six to twelve months, the Food and Agriculture Organization warned on Wednesday.

Before the recent attacks launched by United States and Israel against Iran, roughly one-fifth of the world’s seaborne oil shipments passed through the strategic waterway.

The UN agency said the disruption should not be viewed as a temporary shipping issue, but rather as the beginning of a broader global agro-food crisis with potential long-term economic consequences.

The FAO urged governments to establish alternative trade routes, avoid export restrictions, protect humanitarian supply chains and build reserves to absorb rising transportation costs.

Máximo Torero said countries must urgently strengthen their resilience and prepare for the potential impact of disruptions linked to the maritime bottleneck.

20260224_estafa_mh_728x90

According to the organization, the window for preventive action is rapidly closing.

International

U.S. Sanctions Alleged Sinaloa Cartel Money Launderers Linked to Fentanyl Trade

The U.S. Department of the Treasury announced sanctions on Wednesday against more than a dozen individuals and companies allegedly linked to Mexico’s Sinaloa Cartel, accusing them of laundering money connected to fentanyl trafficking operations.

Among those targeted are Armando Ojeda Avilés, identified by U.S. authorities as a leading money laundering operator for the cartel, and Jesús “Chuy” González Peñuela, who has been subject to a $5 million reward since January 2024.

According to the sanctions list released by the Office of Foreign Assets Control (OFAC), other individuals sanctioned include Jesús Alonso Aispuro, described as the network’s financial chief, and Rodrigo Alarcón Palomares, accused of overseeing cash collection operations in the United States.

Relatives of the alleged cartel figures were also sanctioned for managing businesses reportedly tied to the network, including the security company Grupo Especial Mamba Negra and the restaurant Gorditas Chiwas in Chihuahua, Mexico.

The Sinaloa Cartel was designated a narcoterrorist organization last year under an order issued by U.S. President Donald Trump and has since become a major focus of U.S. law enforcement efforts.

20260224_estafa_mh_728x90

Two weeks ago, prosecutors in New York’s Southern District accused Sinaloa Governor Rubén Rocha Moya and several associates of collaborating with the cartel, a development that increased tensions with the administration of Mexican President Claudia Sheinbaum.