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
Ten Bodies Found in Mexico’s Zacatecas State Amid Security Operation
Mexican authorities discovered the bodies of 10 people on Saturday in the central state of Zacatecas, a region that was heavily affected by organized crime violence just a few years ago.
The victims were found in different municipalities across the state, which experienced a surge in violence between 2021 and 2022 as rival criminal groups fought for control of key drug trafficking routes.
Rodrigo Reyes, secretary general of the Zacatecas state government, said on social media that the bodies were located in the municipalities of Morelos, Pánuco, and Sain Alto.
Authorities have not yet disclosed the causes of death or identified those responsible for the killings.
Reyes said security forces have launched a coordinated operation to locate those behind the crimes and strengthen the police presence in the affected areas as the investigation continues.
International
U.S. to Limit Visa Duration for Foreign Students and Journalists
The United States has announced new limits on the legal length of stay for foreign students and journalists, marking the latest tightening of immigration policies under President Donald Trump.
The changes, outlined in an administrative rule published on Thursday, are expected to take effect in September, unless Congress blocks the measure.
Under the new policy, holders of student visas will be allowed to remain in the United States for no more than four years.
Foreign journalists will be limited to 240-day stays—approximately eight months—with the possibility of applying for extensions of the same duration.
The policy imposes even stricter rules on Chinese journalists, whose visas will be capped at 90 days.
More than 100 international news organizations and press freedom groups, including Agence France-Presse (AFP), criticized the measure in an open letter, arguing that it would reduce both the quantity and quality of international coverage of events in the United States.
The Republican Party, led by President Trump, currently holds a majority in Congress and has pledged to curb both illegal immigration and certain forms of legal immigration.
Previously, the United States generally issued student visas for the full duration of an academic program, while foreign journalists could receive visas valid for up to five years.
Central America
Nicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute
The Nicaraguan government announced on Thursday that it is severing diplomatic relations with Italy following criticism from the Italian government over Nicaragua’s long-standing decision to shelter Alessio Casimirri, a former member of the Red Brigades convicted in Italy for the 1978 kidnapping and murder of former Prime Minister Aldo Moro.
Italian Foreign Minister Antonio Tajani criticized the administration of co-presidents Daniel Ortega and Rosario Murillo on Wednesday for continuing to provide refuge to Casimirri, who was sentenced in Italy to six life terms for his role in Moro’s abduction and killing.
In a statement issued Thursday, Nicaragua’s Foreign Ministry said it was ending all diplomatic relations with Italy, describing Tajani’s remarks as “unjustified, aggressive, and irresponsible.”
Tajani made the comments during a gathering of conservative leaders from Europe and Latin America held in Madrid.
“We have absolutely nothing in common with the positions of extremist governments such as Nicaragua, a country that continues to harbor dangerous Red Brigades terrorists like Alessio Casimirri,” Tajani said, according to Italian media.
The diplomatic break marks a new escalation in tensions between the two countries over the decades-old case involving Casimirri, who has lived in Nicaragua for many years despite repeated calls from Italy for his extradition.
Ten Bodies Found in Mexico’s Zacatecas State Amid Security Operation
U.S. to Limit Visa Duration for Foreign Students and Journalists
Nicaragua Cuts Diplomatic Ties With Italy Over Red Brigades Dispute
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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