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.
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.
“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.
International
U.S. Targets Members of Outgoing Boric Administration With Visa Revocations
The United States government announced on Friday the revocation of visas for three Chilean officials—whose identities were not initially disclosed—citing activities that allegedly “undermined regional security,” an accusation that Chile denies.
In a statement, the U.S. Department of State did not provide specific details about the individuals involved but criticized the outgoing administration of leftist President Gabriel Boric.
“The legacy of the Boric government will be further tarnished by actions that undermine regional security to the ultimate detriment of the Chilean people,” the statement read. It was signed by U.S. Secretary of State Marco Rubio.
Chile’s Minister of Transport, Juan Carlos Muñoz, later confirmed in a video message to the press that he is among those sanctioned.
“I was recently informed that my visa to enter the United States has been revoked by that country, which I deeply regret,” Muñoz said.
The U.S. statement also noted that Washington hopes to “advance shared priorities, including those that strengthen security in our hemisphere, with the upcoming Kast government.”
The electoral victory of ultraconservative leader José Antonio Kast was welcomed in Washington, which has been building alliances with like-minded governments in the region to reinforce its diplomatic and economic agenda—particularly in response to China’s growing investment presence in Latin America.
“We remain committed to promoting accountability for Chilean individuals who deliberately work to destabilize our hemisphere,” the statement concluded.
International
Three Injured in Mail Package Explosion at Buenos Aires Gendarmerie Academy
Three people were injured on Friday after a mail package exploded at the Escuela Superior de Gendarmería in Buenos Aires, according to a statement released by Argentina’s Ministerio de Seguridad.
The explosion occurred at 1:49 p.m. local time (16:49 GMT) inside a building located less than one kilometer from the Government House, the ministry reported.
“Personnel from the force handled a parcel that had reportedly been received months earlier and was being stored at the facility. When it was opened, an explosion occurred, causing injuries to two officers,” the statement said.
The ministry added that both injured officers were transported to a hospital and are not in life-threatening condition. “A third officer remains in recovery and is out of danger,” authorities confirmed.
Following the incident, police cordoned off the surrounding area, halted traffic, and evacuated the 11-story building as well as adjacent buildings on the same block.
Mariana Bornio, an employee at a telecommunications company located in a neighboring building, said that as she was being evacuated, she saw one of the injured gendarmes leaving the scene shirtless and covered with a blue medical gown.
International
Top U.S. Military Commander Meets Interim Venezuelan Leaders After Maduro’s Capture
The commander of the United States Southern Command, Marine Francis L. Donovan, visited Venezuela on Wednesday, holding meetings with interim leaders following the recent capture of former President Nicolás Maduro by U.S. forces. The visit, confirmed by both U.S. and Venezuelan officials, marked a significant diplomatic and security engagement in Caracas.
Donovan, accompanied by senior U.S. officials including acting Assistant Secretary of Defense Joseph M. Humire and top diplomat Laura Dogu, met with acting President Delcy Rodríguez and key members of her cabinet, including Defense Minister Vladimir Padrino López and Interior Minister Diosdado Cabello.
According to official statements, discussions focused on strengthening bilateral cooperation on regional security issues, including efforts to combat illicit drug trafficking, terrorism, and migration. Both sides reiterated a commitment to pursuing diplomatic engagement and shared security goals for Venezuela and the Western Hemisphere.
The meetings also discussed progress on a three-phase plan supported by the United States to help stabilize Venezuela, following Maduro’s removal from power and subsequent detention in the U.S. on drug-related charges. This agenda reflects expanding U.S. engagement with Venezuela’s interim government amid broader efforts to restore diplomatic relations and address regional challenges.
The visit concluded on Wednesday, underscoring a growing U.S. focus on cooperation with Venezuelan authorities in the aftermath of major political developments earlier this year.
U.S. Targets Members of Outgoing Boric Administration With Visa Revocations
Three Injured in Mail Package Explosion at Buenos Aires Gendarmerie Academy
Top U.S. Military Commander Meets Interim Venezuelan Leaders After Maduro’s Capture
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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