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
Trump relaunches diplomatic push to finalize U.S.-Backed peace plan for Ukraine War
U.S. President Donald Trump announced on Tuesday that his diplomatic team will resume meetings with delegations from Russia and Ukraine in an effort to pressure both sides to accept the peace plan proposed by Washington to end the war in Ukraine.
As part of this new round of talks, U.S. Special Envoy Steve Witkoff will travel to Moscow to meet with Russian President Vladimir Putin. Meanwhile, Army Secretary Dan Driscoll will hold discussions with Ukrainian representatives to narrow differences on the remaining points of the agreement.
Trump also confirmed his intention to meet personally with Ukrainian President Volodymyr Zelensky and with Putin, though he emphasized that such meetings will only take place “when the agreement is fully finalized or in its final stage.”
The president claimed that his administration has made “tremendous progress” toward resolving the conflict and reiterated that the war “never would have started” if he had been in the White House at the onset of the crisis.
The U.S.-backed peace plan consists of 28 points and has been revised following feedback from both sides. According to Trump, only “a few points of disagreement” remain under active discussion.
One of the most controversial aspects of the proposal is the suggestion that Ukraine cede parts of the Donbas region to Russia and limit the size of its armed forces. Kyiv is working closely with Washington to soften these clauses in search of an arrangement that does not compromise its sovereignty or security.
With this diplomatic push, Trump aims to solidify his role as the main mediator in the conflict and steer the war toward a political resolution after years of devastation, humanitarian crisis, and rising global geopolitical tensions.
International
Man pleads not guilty in Liverpool parade incident that injured more than 130
Paul Doyle, who has been held in provisional detention since the incident, is accused of intentionally injuring 12 people, attempting to injure another 17, and committing acts of violence and dangerous driving.
According to prosecutors, eight of the victims were minors at the time, including a six-month-old baby.
Wearing a black suit, the 54-year-old defendant broke into tears as the jury entered Liverpool Crown Court, in northwest England. Doyle, a father of three and former member of the Royal Navy, had pleaded not guilty in September to the 31 charges against him.
On Tuesday, he reaffirmed his not-guilty plea when asked to respond again to four of the charges, which had been slightly amended. The jury was sworn in the same day, and the trial—expected to last three to four weeks—will begin on Wednesday.
The incident occurred on May 26, when thousands of Liverpool FC supporters were gathered for a parade celebrating the club’s Premier League victory. According to the investigation, Doyle’s car entered a street that had just been reopened to allow an ambulance through.
His vehicle was then surrounded by a crowd of Liverpool supporters, some of whom acted aggressively. Doyle first reversed, then accelerated forward, swerving and striking people on both sides of the street. According to an initial report from Merseyside Police, 134 people were injured.
Firefighters reported that one man was thrown onto the hood of the vehicle and four people, including a child, were trapped underneath the car.
Doyle was arrested at the scene. Police quickly ruled out any terrorist motive, stating instead that it was an isolated incident.
International
Macron to announce new voluntary military service amid rising security concerns in Europe
French President Emmanuel Macron is expected to announce on Thursday the creation of a voluntary military service program, following similar moves by other European countries amid growing concerns over Russia and uncertainty surrounding the United States as an ally.
The announcement comes after controversy sparked by the Chief of the Defense Staff, General Fabien Mandon, who last week urged the French population to “accept losing their children” in the event of a conflict in Europe. Macron insisted the comments were taken out of context.
“It is absolutely necessary to dispel any confusion suggesting that we are going to send our young people to Ukraine,” the president said in an interview with RTL radio on Tuesday.
France ended mandatory military service in 1997 under conservative president Jacques Chirac, but Macron has been advocating for “a new framework for service” within the Armed Forces to strengthen what he describes as the “army–nation bond.”
According to several sources, the centrist president is expected to unveil a voluntary military service initiative starting with around 2,000 participants, with a long-term goal of reaching 50,000 volunteers per year.
While the government has not yet detailed how the program will work, French media report that the service would last about 10 months and include compensation of several hundred euros.
The French Armed Forces currently comprise roughly 200,000 active-duty personnel and 47,000 reservists. By 2030, the goal is to increase those figures to 210,000 and 80,000, respectively.
Trump relaunches diplomatic push to finalize U.S.-Backed peace plan for Ukraine War
Man pleads not guilty in Liverpool parade incident that injured more than 130
Macron to announce new voluntary military service amid rising security concerns in Europe
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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