At the end of the fourth quarter of last year, there were $16.9 trillion in outstanding U.S. household debts, an increase of $394 billion (2.4%) from the previous quarter. Federal Reserve Bank of New York released its quarterly report on house debt and credit. Particularly noteworthy, according to experts, is the 6.6% quarterly increase in American credit card debt to $986 billion. Both the rate...

According to the Rosario Grain Exchange (BCR), corn shipments from Argentina between March and June may decline by nearly 40% from the same time last year. This is because the current season's planted acreage has decreased as a result of an extreme drought. BCR notes that corn shipments between March and June may only total 8.7 million tons. In the initial weeks of the planting, just 19% of the...

The largest monthly growth in retail sales in the US since March 2021 occurred in January, when it increased by 3% over the previous month, reports the US Department of Commerce. Reuters polled analysts, and they expected 1.8% growth. Retail sales grew by 6.4% in January 2021 compared to the previous month. Prior to that, the number had been falling for two straight months as consumers cut down...

According to a news statement from the company, Toyota Motor Corp. of Japan will create a new generation of electric vehicles by 2026. The next generation of electric vehicles for the Lexus brand will be developed by 2026, according to the statement, with everything from the battery and platform to the vehicle's construction being optimized for the present lineup. The company added that the...

According to Reuters, European Energy Commissioner Kadri Simson expressed hope that Egypt would keep large quantities of Israeli LNG sales to Europe at the same level. In order to continue Israel's natural gas exports to Europe via Egypt's LNG export infrastructure, the EU, Israel, and Egypt inked a trilateral memorandum last June. Simson told the agency at an energy conference in Cairo, "We...

Oil demand will exceed 110 million barrels per day in 2023, according to OPEC Secretary General al-Ghais. According to forecasts from the alliance, the world's oil demand will surpass pre-pandemic levels in 2023 and reach close to 102 million barrels per day, according to OPEC Secretary General Haitham al-Ghais on Sunday. According to him, the figure will increase to 110 million barrels per day...

According to a report by the International Energy Agency, the world's electricity demand will increase by 3% yearly between 2023 and 2025. The energy crisis, according to experts, will cause the demand for power to increase by 2% in 2022. The growth will differ from one place to another. China, which accounts for around 31% of global consumption, will have a 5.2% growth between 2023 and 2025,...

Bloomberg reports that the United States will slap 200% duty on Russian aluminum. The United States' access to Russian metal will be completely cut off. According to sources familiar with the plans, the U.S. is getting ready to impose a 200% levy on imports of Russian aluminum, writes Bloomberg. The U.S. government is extremely concerned about harm to American industry, especially aerospace and...

According to a news release from the International Air Transport Association (IATA), the amount of passengers flying across the world climbed by 64.4 percent in 2022 compared to 2021, and by 39.7 percent in December 2022 compared to December 2021. The 2022 statistic demonstrated an improvement over 2021, when traffic dropped 58.4% to pre-2021 levels. IATA estimates that the Middle East will see a...