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
Iran issues threat to Trump as conflict escalates over Strait of Hormuz
The head of Iran’s Supreme National Security Council, Ali Larijani, threatened U.S. President Donald Trump on Tuesday, warning him to “beware of being eliminated.”
The Republican president had warned on Monday that he would strike Iran “very hard” if the Islamic Republic blocked oil shipments through the Strait of Hormuz, which has effectively been closed since the war began eleven days ago.
“Iran is not afraid of your empty threats. Others more powerful than you tried to destroy the Iranian nation and failed. Beware that you are not eliminated,” Larijani wrote on X.
Earlier, Iran’s Revolutionary Guards — the ideological military force of the Islamic Republic — also said their forces would move to block oil exports from the Gulf.
Meanwhile, Israeli Prime Minister Benjamin Netanyahu said Israel’s military offensive against Iran is far from over.
“Our aspiration is that the Iranian people free themselves from the yoke of tyranny; ultimately, that depends on them. But there is no doubt that with the measures taken so far we are breaking their bones, and we are not finished yet,” Netanyahu said in a statement.
International
Driver detained after suspicious vehicle incident near the White House
The driver was detained and no injuries were reported after an incident that occurred before dawn in Lafayette Square, just north of the White House.
The U.S. Secret Service, which is responsible for presidential security, said in a statement that it was “investigating a suspicious vehicle.” The driver of the car was taken into custody and is currently being questioned.
Washington remains under heightened security measures amid the ongoing conflict involving the United States and Israel against Iran.
Police closed several major streets around the White House. However, by about 8:30 a.m. local time (12:30 GMT), government employees and staff from nearby institutions were allowed to pass through the area with proper identification, according to an AFP journalist at the scene.
Dozens of emergency vehicles with flashing lights responded to the location, while tourists and residents waited for authorities to reopen the streets.
International
Trump Raises Possibility of “Friendly Takeover” of Cuba Amid Deepening Crisis
The President of the United States, Donald Trump, reiterated Monday the possibility that Washington could pursue a “friendly takeover” of Cuba, amid the severe crisis facing the island following the oil blockade promoted by the U.S. government.
Speaking at a press conference in Miami, the president said that U.S. Secretary of State Marco Rubio is currently “negotiating” with representatives of the Cuban government, although authorities in Havana have repeatedly denied that such talks are taking place.
Trump suggested that Washington could play a more direct role in the island’s future.
“It may be a friendly takeover. It may not be a friendly takeover. It wouldn’t matter because they’re really down to, as they say, fumes. They have no energy, they have no money. They are in deep trouble on a humanitarian basis, and we really don’t want to see that,” the U.S. president said.
The president also argued that the Cuban government had long depended heavily on support from Venezuela, particularly oil supplies.
According to Trump, that support has been drastically reduced following measures adopted by Washington.
“They were living off Venezuela. Venezuela doesn’t send them energy, fuel, oil, money, or anything anymore. They couldn’t survive without Venezuela, they couldn’t have made it, and we cut everything off,” Trump said.
UN experts warn Nicaragua runs vast transnational network to monitor exiled dissidents
Iran issues threat to Trump as conflict escalates over Strait of Hormuz
Driver detained after suspicious vehicle incident near the White House
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
Defense Minister commends salvadoran soldier for Central American Cross Country victory
Extension of the state of emergency approved in southern Chile
-
International4 days agoTrump announces 17-nation alliance in the Americas to “destroy” drug cartels
-
International3 days ago
Mexico, Brazil and Colombia left out of Trump’s “Shield of the Americas” summit
-
International1 day agoTrump Raises Possibility of “Friendly Takeover” of Cuba Amid Deepening Crisis
-
Central America1 day agoGuatemala Remains in “Restricted” Press Freedom Category, Chapultepec Index Warns
-
Central America1 day agoUN Report Warns of Nicaragua’s “Transnational” Surveillance Network Targeting Dissidents
-
International1 hour agoDriver detained after suspicious vehicle incident near the White House
-
International1 hour agoIran issues threat to Trump as conflict escalates over Strait of Hormuz
-
Central America1 day agoUN Rapporteur Warns of “Deep Crisis” in Guatemala’s Judicial System
-
Sin categoría58 minutes agoUN experts warn Nicaragua runs vast transnational network to monitor exiled dissidents