News

Oil CEOs Back Trump’s Energy Agenda as Crude Hits Fresh Low

(Bloomberg) -- Executives from some of the world’s top oil and gas producers offered full-throated support for President Donald Trump’s “Energy Dominance” on Monday, even as financial markets slumped on broader concerns about his economic agenda.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsWhere New York City's Zoning Reform Will Add HousingInside the ‘Not Architecture’ of High Line Designers Dil

Hungary's leader orders price controls on basic foods as inflation spikes

Hungary's government will limit the profit margin for grocers on a number of basic food items, the prime minister said on Tuesday, a response to growing inflation hitting consumers in the Central European country. Prime Minister Viktor Orbán said in a video on social media that commercial grocers must limit their markup to no more than 10% of wholesale price on 30 different food items, a policy that would be in effect from mid-March until the end of May, but could be extended. "In order to curb excessive and unjustified price increases, we have been negotiating with representatives of commercial chains in recent days," Orbán said.

Stricken Oil Tanker in North Sea Smolders With Hole in Side

(Bloomberg) -- A US oil tanker that was struck by a container ship in the North Sea on Monday was smoldering with a gaping hole in its side, footage broadcast by BBC News showed.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpWhere New York City's Zoning Reform Will Add HousingInside the ‘Not Architecture’ of High Line Designers

NYC Toll Projected to Boost Economy by as Much as $1.3 Billion

(Bloomberg) -- New York City’s regional economy may gain as much as $1.3 billion annually as a new toll to drive along Manhattan’s busiest streets eases traffic gridlock and benefits business activity, according to a civic group focused on economic health.Most Read from BloombergNJ College to Merge With State School After Financial StressNYC Congestion Pricing Toll Gains Support Among City ResidentsBuffalo’s Billion-Dollar Freeway Fix Is on Ice, But Not Because of TrumpWhere New York City's Zoni

Trump meets Corporate America as economic fears nip stocks

WASHINGTON (Reuters) -U.S. President Donald Trump will meet the CEOs of America's biggest companies on Tuesday, including many whose market value has dipped in recent days as recession and inflation fears soured consumer and investor sentiment. The Republican president is expected to speak with around 100 CEOs at a regular meeting of the Business Roundtable in Washington, an influential group of CEOs leading major U.S. companies from Apple to JPMorgan Chase and Walmart. JPMorgan CEO Jamie Dimon, Citigroup CEO Jane Fraser and Goldman Sachs CEO David Solomon also plan to attend, according to three sources.

Central Europe's economies face risks from slowing trade, tariffs, IMF warns

Central Europe's export-dependent economies face risks from slowing world trade growth and tariff threats, which could be mitigated with reforms and the removal of remaining trade barriers in the EU, the International Monetary Fund said. Central European nations are among the European Union's most reliant on foreign trade, with exports as a share of output ranging from 92% in Slovakia to 69% in the Czech Republic, based on 2023 Eurostat data, with only Romania's 39% below the bloc's average. U.S. President Donald Trump's plan to impose 25% tariffs on imports from the bloc is likely to hurt growth in the export-oriented region, though Poland, the region's largest economy, is seen less exposed, S&P Global said last week.