Moldova, one of Europe’s poorest countries, plans to sue Gazprom over failing to provide it with contracted gas.
Canada scrapped a rule that allowed for parts used for the Russia-to-Germany Nord Stream 1 gas pipeline to be repaired in Montreal.
The U.S.’s landmark nuclear-fusion discovery this week — where for the first time a reaction produced more energy than it consumed — has spurred immediate interest from big investors, according to companies working on the technology.
The Federal Reserve on Wednesday raised its benchmark interest rate by 50 basis points, a downshift from the 75-point hikes it delivered at its last four meetings this year. The U.S.’s new interest-rate range between 4.25% and 4.5% is the highest in 15 years.
At their Wednesday meeting, Federal Reserve officials said the U.S. would need at least 75 basis points of additional rate hikes by the end of 2023, leading to a higher-than-expected terminal rate of around 5.1%. Rates could start going down in 2024.
The Federal Reserve predicts the U.S. economy will grow at a 0.5% pace in 2023, a sharp downgrade from the central bank’s September prediction of 1.2%. The unemployment rate, meanwhile, is forecast to rise to 4.6% from its current level of 3.7%.
U.S. retail sales fell 0.6% in November from the prior month.
Initial jobless claims fell by 20,000 last week to 211,000, well lower than expectations, indicating continued resilience in labor markets.
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