EXPLAINER: Can Ukraine pay for war without wrecking the economy?

EXPLAINER: Can Ukraine pay for war without wrecking the economy?

FRANKFURT, Germany (AP) – Even as Ukraine celebrates recent battlefield victoriesits government faces a looming challenge on the financial front: how to pay the enormous cost of the war effort without triggering out-of-control price spikes for ordinary people or piling up debt that could hamper postwar reconstruction. The struggle is finding loans or donations to … Read more

Russia rejects $60-a-barrel cap on its oil, warns of cutoffs

KYIV, Ukraine (AP) — Russian authorities rejected a price cap on the country’s oil set by Ukraine’s Western supporters and threatened Saturday to stop supplying the nations that endorsed it. Australia, Britain, Canada, Japan, the United States and the 27-nation European Union agreed Friday to cap what they would pay for Russian oil at $60-per-barrel. … Read more

At Shanghai vigil, bold shout for change preceded crackdown

SHANGHAI (AP) – The mourners in Shanghai lit candles and placed flowers. Someone scrawled “Urumqi, 11.24, Rest in Peace” in red on cardboard — referring to the deadly apartment fire in China’s western city of Urumqi that sparked anger over perceptions the country’s strict COVID-19 measures played a role in the disaster. What started as … Read more

G-7 joins EU on $60-per-barrel price cap on Russian oil

WASHINGTON (AP) – The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-per-barrel price cap on Russian oil, a key step as Western sanctions aim to reorder the global oil market. to prevent price spikes and starve President Vladimir Putin of funding for his war in Ukraine. Europe … Read more

AP sources: Biden tells Dems he wants SC as 1st primary vote

WASHINGTON (AP) – President Joe Biden has declared that Democrats should give up “restrictive” caucuses and prioritize diversity at the beginning of their presidential primary calendar — dealing a major blow to Iowa’s decades-long status as the state that leads off the process. In a letter Thursday to the rule-making arm of the Democratic National … Read more

Biden sees economy avoiding recession, but risks remain

WASHINGTON (AP) – President Joe Biden assured Americans on Friday that the US economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. At the White House, the president signed an emergency bill to avert a rail strike that he … Read more

Spain: numerous devices found after the Ukrainian Embassy blast

MADRID (AP) – Police in Spain detonated a suspicious package discovered at the US Embassy in Madrid, Spanish officials said Thursday, a day after a similar package sent to the Ukrainian Embassy ignited upon opening and injured an employee. “We can confirm a suspicious package was received at the US Embassy in Madrid, and are … Read more

Chinese users play cat-and-mouse with censors amid protests

HONG KONG (AP) — Videos of hundreds protesting in Shanghai began to appear on WeChat on Saturday night. Showing chants about removing COVID-19 restrictions and demanding freedomthey would stay up only a few minutes before being censored. Elliot Wang, a 26-year-old in Beijing, was amazed. “I started refreshing constantly, and saving videos, and taking screenshots … Read more

Biden welcomes Macron amid friction over US climate law

WASHINGTON (AP) – President Joe Biden and Emmanuel Macron are celebrating the long-standing US-French relationship, but these are friends with differences. The French leader is using his visit to Washington to sharply criticize aspects of his ally’s signature climate law as a bad deal for Europe. Biden was to honor Macron with the first state … Read more

China eases virus controls amid efforts to head off protests

BEIJING (AP) — More Chinese cities eased anti-virus restrictions and police patrolled their streets Thursday as the government tried to defuse public anger over some of the world’s most stringent COVID measures and head off more protests.. Following weekend demonstrations at which some crowds made the politically explosive demand that leader Xi Jinping resign, the … Read more