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On March 15, Hungarian Prime Minister Orban said that Hungary should not allow the European Union to use huge common loans for various purposes, including to support Ukraine, because this would reduce future generations of Europeans to long-term bonded labor.March 15, data released by El Al recently showed that the companys profits in 2024 increased significantly, setting a record high. Since the outbreak of a new round of Israeli-Palestinian conflict on October 7, 2023, many international airlines have suspended flights to Israel, and the ticket prices of airlines that are still in operation have increased significantly. By maintaining the operation of most routes, El Als net profit reached a record high of US$130 million in 2023, and it soared to about US$545 million last year. Data shows that the companys operating income in 2024 also increased by about 37% compared with 2023. The Times of Israel reported that the company almost monopolized the route from Israel to North America, and the average passenger load factor was as high as 96%, which became the main factor for its substantial profit growth.March 15th news, U.S. Transportation Secretary Sean Duffy said on the 14th that the 737 MAX model produced by U.S. aircraft manufacturer Boeing has had many accidents in recent years, has lost the trust of the American people, and needs to be strictly regulated.March 15, according to NBC News, U.S. Vice President Cyrus Vance admitted on Friday that Musk made "mistakes" in the process of mass layoffs of federal employees, and emphasized that he believes "there are a lot of good people working in the government." Vances more moderate tone is in stark contrast to the drastic approach taken by Musk. In the first seven weeks of Trumps second presidential term, thousands of government employees were fired, which was the core of Musks work, and these layoffs have triggered multiple lawsuits and have been resisted by judges. Musk has broadly described federal workers as "liars" and believed that they are not trustworthy and cannot do their jobs well. When asked about Musks remarks, Vance said: "I think its obvious that some people are just getting paid but not working. But how many such people are there? I dont know, in a federal workforce of 3 million employees, I dont know if its a few thousand or a lot more than that. But this does not affect or detract from the fact that there are indeed a lot of good public servants doing important work."Market News: The United States has designated South Korea as a "sensitive" country in discussions about nuclear weapons.

Concentrate on U.S. Inflation as Oil Falls After China-Led Rally

Skylar Williams

Aug 09, 2022 10:36

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On Tuesday, oil prices retreated from recent gains, with WTI futures hovering around $90, as investors redirected their focus to incoming U.S. inflation data for further monetary policy indicators.


As of 02:02 EST, U.S. Crude Oil WTI Futures declined 0.5% to $90.34, while Brent Oil Futures decreased 0.2% to $96.27. (0000 GMT).


On Monday, amid choppy trading, both contracts rose as much as 3 percent on signs that crude demand remained high in China, the world's largest oil importer.


In July, China's oil imports increased significantly from a four-month low, as additional locations lifted COVID restrictions.


On the heels of dismal factory data, fears of a decrease in Chinese demand pushed oil prices to a six-month low last week, levels not seen since before Russia's invasion of Ukraine.


As a result of the war's ramifications and the COVID-19 pandemic, it is now projected that this year's gasoline prices will be affected by a global recession.


Wednesday's release of U.S. CPI inflation data will likely determine the Federal Reserve's rate rise strategy for the following month.


Given that gasoline prices have decreased from their yearly peak and are a substantial contributor to CPI inflation, it is predicted that the July estimate will be lower than the previous month. The average estimate for yearly growth in July has decreased from 9.1 percent in June to 8.7 percent.


This year, the Federal Reserve has raised interest rates four times and has hinted at further hikes. The central bank has emphasized a data-driven approach to monetary policy tightening, thus the magnitude of its next increase will largely rely on the July and August CPI readings.


Higher interest rates will have a detrimental effect on economic activity and will likely constrain oil consumption. Two straight quarters of economic downturn in the United States have led markets to believe that the nation is presently experiencing a recession.