complicating

The next economic downturn has become the most anticipated recession in recent U.S. history. It also keeps getting postponed. The government’s stimulus measures left household and business finances in unusually strong shape. Shortages of materials and workers mean companies are still struggling to satisfy demand for rate-sensitive goods, such as homes and autos. And Americans are splurging on labor-intensive activities they avoided in recent years, including dining out, travel and live entertainment. Wall…

Record drought across the globe this year dried up rivers and reservoirs and sapped the world’s largest source of renewable electricity: hydropower. The dip in electricity generated by the flow of water across dams in China, Europe and the U.S. stifled power production. In some places, it has caused factories and smelters to shut down for weeks on end.   California’s energy grid faced its biggest blackout risk since 2020 this week because of record demand and lack of electricity supply, including from water-starved…

Crude oil prices continued to fall on Monday, raising more concerns for Nigeria at a time the country faces severe revenue problem. The prices fell more than 1 per cent, ending three days of gains. Brent crude futures for October settlement declined $1.58, or 1.6 per cent, to $95.14 a barrel by 0640 GMT. U.S. West Texas Intermediate (WTI) crude futures for September delivery, due to expire on Monday, were down $1.70, or 1.9 per cent, at $89.07 a barrel. The more active October contract was at $88.92, down $1.52,…