The International Energy Agency, a Paris-based group of some of the world’s biggest energy users, said the war and the disruption to energy markets that it has unleashed has set off a realignment of global supply and demand. If governments make good on policy goals they have set in motion recently in response to the crisis, they would speed up the shift from fossil fuels to cleaner renewable energy, the agency said.
China’s Industrial Profit Decline Widens
Chinese industrial companies reported a wider decline in profit in the first nine months of the year, official data showed Thursday, despite stronger-than-expected growth in factory production.
Industrial profits declined 2.3% from a year earlier in the January-September period, widening from a 2.1% drop in the first eight months, the National Bureau of Statistics said.
Biden Touts U.S. Steps to Curb Fees Tied to Banking, Concerts and Travel
WASHINGTON-President Biden on Wednesday highlighted steps his administration is taking to rein in fees and restrict hidden costs imposed on consumers across the economy, from travel to banking, in remarks that come about two weeks ahead of the midterm elections.
Mr. Biden, speaking from the White House complex, said the measures are aimed at giving consumers more financial breathing room, by reducing fees tied to concert tickets, hotel resorts, airfare and cable companies.
Justice Elena Kagan Puts Hold on Subpoena for Arizona GOP Head Kelli Ward
WASHINGTON-Justice Elena Kagan temporarily blocked the House Jan. 6 committee’s subpoena for mobile-phone records belonging to Arizona Republican Party Chairwoman Kelli Ward, and ordered the committee to respond by Friday to Ms. Ward’s claim that her First Amendment rights of political association take precedence over Congress’s investigatory powers.
The select committee investigating the attack on the Capitol on Jan. 6, 2021, subpoenaed service provider T-Mobile for records from Nov. 1, 2020, to Jan. 31, 2021. Ms. Ward went to court to block the subpoena, arguing that it would allow a committee controlled by Democrats to identify individuals involved in Republican Party activities.
Another Railroad Union Rejects Contract
Members of another railroad union rejected a tentative agreement on wages and work conditions reached with the freight railroads in September, further clouding the outlook for labor peace after the White House brokered a deal to avert a strike.
The latest vote, by the Brotherhood of Railroad Signalmen, sends the two sides back to the negotiating table. Failure to agree on a revised deal could result in a strike as early as December.
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(END) Dow Jones Newswires
October 27, 2022 05:22 ET (09:22 GMT)
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