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Bitcoin just finished its worst month since May 2021, losing more than 38% of its value in June, as of Thursday afternoon. Ether, the world’s second biggest cryptocurrency by market capitalization, ended the same period down by about 47%. Though weakness in the digital assets sector is part of a broader flight from risk, confidence in the crypto market,
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A drilling rig at a gas processing facility, operated by Gazprom. Maxim Shemetov | Reuters The European Union’s best shot at replacing Russian gas imports this year is likely to miss the mark, analysts predict, exerting further pressure on the region’s economy. The EU plans to replace two-thirds of Russian gas imports by the end
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AscentXmedia / Getty Record high inflation and gas prices have many Americans hoping for financial relief. And in California, that’s exactly what approximately 23 million residents stand to get, thanks to the state’s new budget deal, which is slated to give qualifying taxpayers new direct payments. Democratic California Gov. Gavin Newsom and Democratic legislative leaders
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In this article CG Much of the U.S. market focus has been on the Federal Reserve’s more aggressive interest rate hikes as a reason to fear recession. But Carlyle Group co-founder and co-chairman David Rubenstein, a billionaire investor and philanthropist, says the economy’s path may be beyond the central bank’s control, and two other global
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In this article XOM Exxon Mobil CEO Darren Woods warns that an abrupt transition to renewable energy will cause society to “pay a high price.” The national average price for a gallon of gasoline is currently nearly $5, causing strife for all drivers, according to AAA. In an interview with CNBC’s David Faber, Woods cautioned
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President Joe Biden remarks on efforts to lower high gas prices at the Eisenhower Executive Office Building in Washington, D.C. on June 22, 2022. Jim Watson | AFP | Getty Images President Joe Biden has called on Congress to put a three-month federal gas tax holiday in place to help ease the financial pain drivers
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In this article VOW3-DE TSLA 7203.T-JP Toyota’s bZ4X electric sport utility vehicle photographed in Chiba Prefecture, Japan, on Feb. 24, 2022. The Japanese automotive giant has issued a safety recall related to the bZ4X’s wheels. Kiyoshi Ota | Bloomberg | Getty Images Japanese automotive giant Toyota issued a safety recall for more than 2,000 of
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Habeck has previously warned the situation is going to be “really tight in winter” without precautionary measures to prevent a gas supply shortage. Picture Alliance | Picture Alliance | Getty Images Germany has declared it is moving to the so-called “alert stage” of its emergency gas plan, as reduced Russian flows exacerbate fears of a
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President Joe Biden called on Congress Wednesday to temporarily suspend the federal gas tax, as he tries to quell the rapid surge in prices at the pump. While experts say a suspension could provide some immediate relief, it could also keep demand elevated, thereby exacerbating tight supply. Consumers are getting hit with higher prices everywhere,
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