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☆ Gas prices look like they'll get better — but not before getting worse first
▼ + stars: | 2023-09-24 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

But there are signs that both supply and demand will bring prices back down in the coming months. AAA reported this week that the average price for a gallon of gas in the US was $3.88. AdvertisementAdvertisementAn atypical spike in pricesThe increase in gas prices is unusual, as we typically see some relief after the summer surge as demand wanes. If true, the worries about the impact of rising gas prices on consumer spending and inflation are overblown. AdvertisementAdvertisementIn recent years, with oil prices closer to $70 a barrel, gas prices have typically been close to $3 a gallon.

Persons: Mohamed el, Saudi Arabia's, Mohamed Oun, there's, Jorge León, Mike Wirth, we've, hasn't, Wirth, Grace Smith, David Kelly, We're, Kelly, Citi's, Ed Morse Organizations: Service, AAA, Allianz, Saudi, Reuters, Rystad Energy, US Strategic Petroleum Reserve, Biden, Strategic Petroleum Reserve Energy Department, Strategic Petroleum Reserve, Chevron, Bloomberg, Denver, MediaNews, Getty, Morgan Asset Management, Citigroup, CNN Locations: Russia, Saudi Arabia, Wall, Silicon, California, Clearwater Beach, Tampa , Florida, Libya, Ukraine, Brazil, Canada, Venezuela, Guyana

☆ Monthly Meeting Q&A with Jim Cramer on 20 stocks in everything from tech to health care to retail
▼ + stars: | 2023-09-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

Jeff Marks: The upcoming earnings report should be good considering how strong the beer business is doing. Jim Cramer: Estee Lauder CEO Fabrizio Freda was adamant that this quarter wouldn't be any good so everyone is selling it. (Ronald) Jim Cramer: There is no pressure that could pull oil down with the Saudi Arabia oil cuts and Russia export cuts. Jeff Marks: These oil stocks have become great hedges to inflation again, much like they were last year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer's, Jeff Marks, Jim Cramer, Johnson, Arbitrageurs, Greg, There's, We're, Elliott Management's, I'd, Elliott, Morgan Stanley, Carey, we've, James Gorman, Jim, Estee Lauder, Fabrizio Freda, there's, Dave Cote, Darius Adamczyk, Vimal Kapur, Darius, hasn't, —, Ronald, Rick, We've Organizations: Investing Club, Broadcom, VMWare, AAA, Constellation Brands, Modelo, Elliott Management, Cisco, Palo Alto Networks, Honeywell, Morgan, Morgan Stanley Laguna, GE Healthcare, Natural Resources, Devon Energy, Halliburton, HAL, Costco, Walmart, Kirkland, CNBC Locations: Canada, Johnson, Mel , Pennsylvania, Manville, New Jersey, U.S, Carey , Virginia, Asia, Kyle , Wisconsin, PANW, Omar , Colorado, Saudi Arabia, buybacks, GEHC

[1/2] U.S. House Speaker Kevin McCarthy speaks with reporters at the U.S. Capitol in Washington, U.S. September 20, 2023. The House of Representatives voted 216-212 against beginning debate on an $886 billion defense appropriations bill amid opposition from a small group of hardline conservative Republicans. As the vote failed, McCarthy told reporters that he will pursue the "same strategy I had from January: just keep working; never give up." Then a vote to open floor debate on the defense appropriations bill failed. It was not clear how much support the CR or the 2024 top line would draw from House Republicans.

Persons: Kevin McCarthy, Jonathan Ernst, Kevin McCarthy's, McCarthy, Joe Biden, Chuck Schumer, Keith Self, Donald Trump, Joe, brinkmanship, Fitch, Rosa DeLauro, Biden, David Morgan, Richard Cowan, Makini Brice, Scott Malone, Leslie Adler, Mark Porter, Timothy Gardner Organizations: ., U.S, Capitol, REUTERS, Rights, Republicans, Democratic, Senate, Republican, Self, TRUMP, Government, Trump, AAA, House Republicans, Thomson Locations: Washington , U.S

☆ Best places to park your cash in a high-rate environment
▼ + stars: | 2023-09-20 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

High-yield online savings accountsThe average annual percentage yield on bank savings accounts was just 0.56%, according to a September 11 survey from Bankrate. But many online, FDIC-insured banks are offering well north of 5% on their high-yield savings accounts. But don’t confuse money market accounts with money market mutual funds. And while money market funds are typically very safe investments, they may have fees and withdrawal restrictions. As of September 19, CDs listed on Schwab.com with durations of three months, six months, nine months, one year and 18 months were all yielding 5.5% or more.

Persons: —, they’ve, Lazetta Rainey Braxton, Braxton, you’ve, ”, Doug Ornstein, Ken Tumin, Schwab, you’ll, Tumin, “, Andy Smith, Ornstein, Don’t, doesn’t, ” Smith Organizations: New, New York CNN, Federal, JPMorgan Chase, Bank of America, Wealth Partners, TIAA Wealth Management, Fidelity, Treasury, Edelman, AAA Locations: New York, United States

☆ Gas Prices Have Crept Higher This Summer, a Challenge for the Fed
▼ + stars: | 2023-09-20 | by ( Santul Nerkar | ) www.nytimes.com time to read: +1 min

Your eyes are not deceiving you: Gas prices are rising yet again. On Wednesday, the national average for unleaded gasoline was $3.88 per gallon, according to AAA, the highest level since October. But it’s still much higher than historical averages, even for summer, when prices tend to rise. After Russia’s invasion of Ukraine in February, by comparison, gas prices soared more than 40 percent in less than four months. High gas prices are a headache for elected officials and consumers, particularly less affluent Americans, and they present a challenge for policymakers at the Federal Reserve, who have sought to rein in rapid inflation over the past 18 months.

Persons: it’s Organizations: AAA, Federal Reserve Locations: That’s, Ukraine

☆ US debt rises to $33 trillion as government shutdown looms
▼ + stars: | 2023-09-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —As the US national debt passes $33 trillion and a government shutdown looms, Wall Street feels defensive. What’s happening: The gross national debt has grown at an alarming pace since then — by $1 trillion in the last three months alone. Political finger pointing around what caused the accelerated debt accrual, meanwhile, has left the government at an impasse around the budget. The recent increase in interest rates has already made it much more expensive for the government to pay back what it owes. That would leave the door open for another rate increase, which could come when the following meeting concludes, on November 1.

Persons: Fitch, ”, Michael Peterson, Peter G, Peterson, Biden, Gary Schlossberg, Jennifer Timmerman, Gregory Daco, Bryan Mena, Jerome Powell, Instacart, Jordan Valinsky Organizations: CNN Business, Bell, New York CNN, AAA, AA, GOP, UAW, Wells, Investment Institute, Fed, Federal, Financial, Walmart Locations: New York, —, Amazon

☆ Gas is rapidly approaching $6 in one state
▼ + stars: | 2023-09-19 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

In California, gas prices are rapidly approaching $6 a gallon. Nationally, gas prices remain well below the record of $5.02 set last June. Still, US gas prices climbed this week to $3.88 a gallon, the highest level of the entire year, according to AAA. Boosted by those two nations’ aggressive supply cuts, US oil prices climbed to as high as $93.74 a barrel on Tuesday. And this recent rise in gas prices is causing headaches for some in Washington.

Persons: it’s, That’s, Pain, Joe Biden’s, Jerome Powell, Powell, ” Nicholas Colas, Colas, “, ”, Joe Brusuelas, Andy Lipow, Lipow, Russia don’t, Brent, Goldman Sachs, Vincent Reinhart, RSM’s, Reinhart, ’, Morgan Stanley, Kristina Hooper Organizations: New York CNN, —, AAA, Brent, Federal, DataTrek Research, RSM, Lipow Oil Associates, Rockies, Citigroup, Fed, Mellon Locations: United States, West Coast, In California, Los Angeles, Long Beach, California, Washington and Nevada, Saudi Arabia, Russia, It’s, Washington, OPEC

Meanwhile, a larger division within House Speaker Kevin McCarthy's fractious Republican majority prevented lawmakers from agreeing on a short-term measure to keep federal agencies afloat after funding expires on Sept. 30. Even if House Republicans had been able to advance the defense bill or the short-term measure, either would face stiff opposition from congressional Democrats and from the White House, which has already threatened to veto the defense bill. RAUCOUS SESSIONTuesday's House vote failed in a raucous session, with Democrats mocking Republican leaders as they tried to persuade holdouts to change their minds before finally giving up. The House vote came hours after McCarthy delayed a key procedural vote on the 30-day stopgap measure known as a continuing resolution, or CR. The continuing resolution faces opposition from more than a dozen Republican hardline conservatives, enough to block its path forward in the House.

Persons: Kevin McCarthy, Evelyn Hockstein, Kevin McCarthy's, McCarthy, Joe Biden, brinkmanship, Fitch, Tom Cole, they're, Cole, holdouts, Ralph Norman, I'm, Patty Murray, Brian Fitzpatrick, David Morgan, Moira Warburton, Katharine Jackson, Scott Malone, Bill Berkrot Organizations: ., U.S, Capitol, REUTERS, Rights, . House, Republican, Democratic, AAA, Senate, Republicans, White, California Republican, Thomson Locations: Washington , U.S, California, Mexico

☆ Top House Republican McCarthy to test narrow majority in shutdown fight
▼ + stars: | 2023-09-18 | by ( David Morgan | ) www.reuters.com time to read: +6 min

[1/6] U.S. House Speaker Kevin McCarthy (R-CA) speaks with reporters as he arrives for the day at the U.S. Capitol in Washington, U.S. September 18, 2023. Republicans hold a 221-212 majority in the House that leaves McCarthy with little room to maneuver as he contends with opposition to the spending legislation from a small group of hardline conservatives. "The Republican House is failing the American people again and pursuing a path of gamesmanship and circus," Republican Representative Victoria Spartz said in a statement. Senate Majority Leader Chuck Schumer, a Democrat, called the House Republican CR agreement "slapdash and reckless," adding that a bipartisan continuing resolution is "the only answer for avoiding a government shutdown." Unless the House can move forward on spending, Republican leaders said privately that they could be forced to move directly into negotiations with Senate Democrats on appropriations bills, circumventing hardliners.

Persons: Kevin McCarthy, Jonathan Ernst, Joe Biden, McCarthy, Fitch, Tommy Tuberville, Biden, Donald Trump, Matt Gaetz, Jack Smith, Trump, Victoria Spartz, Chuck Schumer, Chip Roy, Roy, Ralph Norman, David Morgan, Richard Cowan, Moira Warburton, Scott Malone, Sandra Maler, Will Dunham Organizations: ., U.S, Capitol, REUTERS, Rights, . House, Republican, Democratic, Senate, AAA, Democrat, Caucus, Thomson Locations: Washington , U.S, Mexico

☆ US shutdown looms: Top House Republican Kevin McCarthy faces crucial test
▼ + stars: | 2023-09-18 | by ( David Morgan | ) www.reuters.com time to read: +6 min

U.S. House Speaker Kevin McCarthy (R-CA) addresses the 5th annual Congressional Hackathon on Capitol Hill in Washington, U.S., September 14, 2023. But hardline activism on spending, policy and impeachment have split Republicans in the House and slowed the Senate's path forward on approving bipartisan spending legislation. House Democratic leader Hakeem Jeffries warned on Sunday that the situation amounts to a Republican "civil war." Unless the House can move forward on spending, Republican leaders say privately that they could be forced to move directly into negotiations with Senate Democrats on appropriations bills, circumventing hardliners. Other House Republicans fear that McCarthy's decision to open an impeachment inquiry of Biden could make it harder to gain cooperation on spending from Democrats.

Persons: Kevin McCarthy, Evelyn Hockstein, Joe Biden, brinkmanship, Fitch, Hakeem Jeffries, Tommy Tuberville, McCarthy, Biden, who's, Chip Roy, Patrick McHenry, Ralph Norman, Ken Buck, David Morgan, Richard Cowan, Scott Malone, Sandra Maler Organizations: REUTERS, Rights, ., Republican, U.S . Congress, Democratic, Senate, AAA, California Republican, Fox News, Department of Defense, House Republicans, White, Defense Department, Department of Veterans Affairs, Caucus, Moderate, Biden, Republicans, Washington Post, Thomson Locations: Washington , U.S, California

☆ Gas prices hit 2023 highs as oil stays hot
▼ + stars: | 2023-09-18 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Prices at the pump climbed to their highest level of the year on Monday as oil prices push past $92 a barrel. Normally, gas prices cool off after the summer driving season ends on Labor Day. But the opposite has happened this year as Saudi Arabia’s and Russia’s aggressive supply cuts lift oil prices. In a negative signal for gas prices, the oil market continues to set new highs. Treasury Secretary Janet Yellen on Monday told CNBC she expects energy prices will “stabilize” and noted gas prices are off their highs from last summer.

Persons: Brent, Janet Yellen, Biden, Yellen, ” Yellen Organizations: New, New York CNN, Labor, AAA, Federal Reserve, White, Monday, CNBC, Strategic Petroleum Reserve Locations: New York, Saudi, Colorado , Oregon, Arizona, California, Libya

☆ The Big Number: $3.87
▼ + stars: | 2023-09-15 | by ( Marie Solis | ) www.nytimes.com time to read: 1 min

Reporting on the Business news of the weekMarie Solis Reporting on the Business news of the weekHigh gasoline prices are not in the rearview mirror yet. While they haven’t spiked to last summer’s peak, national gas prices have crept up in recent months. As of Friday, the average was $3.87 a gallon, according to AAA. Here’s how that is affecting the economy →

Persons: Marie Solis Organizations: Business, AAA

☆ These bonds offer high yields for taking on hurricane and other disaster risks
▼ + stars: | 2023-09-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Hurricane Lee is just the latest in what is expected to be an above-normal hurricane season this year. To help potentially pay for damages borne of these extreme weather events, companies in the insurance industry sell catastrophe bonds. There is just over $38 billion in outstanding cat bonds on the market right now, and she thinks it could push over $40 billion by the end of the year. How cat bonds work Cat bonds pay the issuer when a predefined disaster risk is realized, known as an attachment point. Investing in cat bonds While catastrophe bonds mainly target institutional investors, Amundi's Pioneer Cat Bond Fund has A shares available for retail investors.

Persons: Hurricane Lee, Corey Anger, Guy Carpenter, Artemis, Anger, Steve Evans, Amundi's, Morningstar Organizations: National Oceanic, Atmospheric Administration, GC Securities, Treasury, AAA, World Bank, Cat Bond, Artemis Deal Locations: United States, U.S

☆ Americans are feeling gloomier about the economy
▼ + stars: | 2023-09-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Americans aren’t feeling gloomy about higher gas prices just yet, but they’re still on edge about inflation and the economy’s direction — and concerns are starting to surface about the possibility of a government shutdown. Consumer sentiment tracked by the University of Michigan edged down in September from the prior month by 1.8 points, according to a preliminary reading released Friday. “Both short-run and long-run expectations for economic conditions improved modestly this month, though on net consumers remain relatively tentative about the trajectory of the economy,” said the University of Michigan’s Surveys of Consumers Director Joanne Hsu in a release. Sentiment fell to its lowest level on record last summer when gas prices topped $5 a gallon and inflation reached a four-decade high. Consumers’ expectation of inflation rates in the year ahead fell to a 3.1% rate in September, down from 3.5% in the prior month.

Persons: they’re, ”, Joanne Hsu Organizations: DC CNN, University of Michigan, University of Michigan’s, AAA Locations: Washington

☆ No decision on European Investment Bank presidency expected this week, German finance minister says
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

German Finance Minister Christian Lindner speaks during a plenum session of the lower house of parliament, Bundestag, to present the 2024 budget and financial planning of the Federal Government, in Berlin, Germany September 5, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsSANTIAGO DE COMPOSTELA, Sept 15 (Reuters) - German Finance Minister Christian Lindner said at the informal EU finance ministers meeting on Friday that a decision is not expected this week on who will become European Investment Bank (EIB) president. "There are several well-qualified candidates, for example our host today, Nadia Calvino," Lindner said before the meeting of euro zone finance ministers. Lindner said the German government hasn't made a decision yet on which candidate to back, "but we have a clear picture of how the EIB should develop." Lindner said the bank should keep its AAA rating: "Sound banking is essential for us."

Persons: Christian Lindner, Annegret, Nadia Calvino, " Lindner, Lindner, hasn't, Maria Martinez, Miranda Murray Organizations: Bundestag, Federal Government, REUTERS, SANTIAGO DE, German Finance, European Investment Bank, AAA, Thomson Locations: Berlin, Germany, SANTIAGO, SANTIAGO DE COMPOSTELA

☆ US retail spending picked up in August, mostly due to sales at gas stations
▼ + stars: | 2023-09-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in August, the Commerce Department reported Thursday. Excluding sales at gasoline stations, retail spending advanced a more modest 0.2% in August from July. Retail spending increased across most categories, including at restaurants and grocery stores. Online retail sales in August were flat, after jumping in July due to Amazon’s Prime Day promotional event.

Persons: That’s, It’s, “ Fitch, ”, David Silverman, Goldman Sachs, there’s, Lydia Boussour, “ Encouragingly, Boussour Organizations: DC CNN, Commerce Department, AAA, Federal Reserve, Fitch Locations: Washington, Libya, EY

☆ Biden vows to cut US gasoline prices
▼ + stars: | 2023-09-14 | by ( Andrea Shalal | ) www.reuters.com time to read: +1 min

U.S. President Joe Biden delivers remarks on his economic agenda at Prince George's Community College in Largo, Maryland, U.S. September 14, 2023. REUTERS/Jonathan Ernst Acquire Licensing RightsLARGO, Maryland, Sept 14 (Reuters) - President Joe Biden vowed on Thursday to get U.S. gasoline prices down, one day after a report showed consumer inflation surged by the most in 14 months due to higher energy costs. KEY QUOTE"I'm going to get those gas prices down again, I promise you," Biden told an audience in Largo, Maryland, during a speech on the economy. Consumer prices rose 3.7% over the last year, though the rate of inflation has slowed in recent months. * Gasoline prices jumped 10.6% in August after climbing 0.2% in July, accounting for more than half the increase in the Consumer Price Index.

Persons: Joe Biden, Jonathan Ernst, Biden, Andrea Shalal, Jarrett Renshaw, Trevor Hunnicutt, Leslie Adler, Jonathan Oatis Organizations: Prince George's Community College, REUTERS, AAA, U.S . Energy Department, Biden, Strategic Petroleum Reserve, Thomson Locations: Largo , Maryland, U.S, LARGO , Maryland, United States

☆ Angry McCarthy goads House Republicans in government shutdown fight
▼ + stars: | 2023-09-14 | by ( David Morgan | ) www.reuters.com time to read: +4 min

"What Kevin just said right now ... to that point: 'If somebody wants to file a motion to vacate, file the fucking motion to vacate,' and that's it. I've been here," McCarthy told reporters. House Minority Leader Kevin McCarthy (R-CA) speaks to the media on Capitol Hill in Washington, D.C., U.S., May 2, 2019. While a fight among Republicans on spending was holding up action in the House, the Senate on Thursday in an overwhelming 91-7 vote advanced its first package of spending bills. They believe the House will pass compromise legislation at the $1.59 trillion level set by McCarthy and Biden.

Persons: Kevin McCarthy profanely, McCarthy, Joe Biden, Kevin, Brian Mast, we're, I've, Kevin McCarthy, Clodagh, Ralph Norman, Biden, Don Bacon, David Morgan, Rami Ayyub, Scott Malone, Mark Porter, Lisa Shumaker Organizations: Democratic, California Republican, Capitol, Washington , D.C, REUTERS, Republican, Caucus, Biden, AAA, Thomson Locations: California, Washington ,

☆ In a bad omen for inflation, US oil prices top $90 a barrel for the first time this year
▼ + stars: | 2023-09-14 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US oil prices climbed above $90 a barrel on Thursday for the first time in 10 months, threatening to push gasoline prices even higher and heat up inflation across the economy. High oil prices have already created an unusual situation where gasoline is getting more expensive even after the summer driving season has ended. The latest oil market rally has been driven by concerns about supply. The recent jump in energy prices is undoing some of the progress made by central banks in the fight against inflation. A pair of inflation reports released this week showed prices rose by more than expected in August, in large part because of rising gas prices.

Persons: ”, Andy Lipow, Lipow, Brent Organizations: New, New York CNN, AAA, Lipow Oil Associates, Energy Locations: New York, Saudi Arabia, Russia, Libya, Europe, Texas , New Mexico, United States, Colorado , North Dakota, California

Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a report issued by the Commerce Department on Thursday. The surge in gas prices is coursing through the economy and could slow down shoppers' momentum heading into the critical holiday shopping season. Excluding gas sales, retail sales were just up 0.2% for August, according to the Commerce Department report. Sales at gas stations rose a robust 5.2%, while furniture and home furnishings stores saw a 1% drop in sales. August's uptick in retail sales, which marks the fifth straight monthly gain, reflects the economy’s resiliency despite a still tough economic environment.

Persons: August's, ”, Michael Pearce, “, Anne Hatfield, They’re, Kendra Scott, Chris Rugaber, Anne Organizations: Commerce Department, U.S . Labor Department, Labor Department, Federal Reserve, AAA, Amazon Prime, U.S, Oxford Economics, ”, Walmart, Pride, AP Locations: Washington

☆ Here's the inflation breakdown for August 2023, in one chart
▼ + stars: | 2023-09-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Anadolu Agency | Anadolu Agency | Getty ImagesInflation rose in August on the back of higher gasoline prices, according to the consumer price index. Gasoline was the largest contributor to inflation in August, accounting for more than half of the increase, according to the BLS. This pared-down measure — known as "core" CPI — fell to an annual rate of 4.3% in August from 4.7% in July. On a monthly basis, core inflation rose slightly, to 0.3% in August from 0.2% in July. The increase in monthly core CPI "is a little bump in the road," said Kayla Bruun, senior economist at Morning Consult.

Persons: Andrew Hunter, Hunter, Kayla Bruun, " Bruun, Greg McBride, Ben Bernanke, Olivier Blanchard, Scott Olson Organizations: Anadolu Agency, Getty, Capital Economics, U.S . Bureau of Labor Statistics, CPI, AAA, BLS, Transportation, U.S . Department, Morning, Bankrate, U.S . Federal Reserve, Peterson Institute for International Economics Locations: Virginia, U.S

☆ US consumer prices continued to rise last month — but the Fed probably won’t raise rates
▼ + stars: | 2023-09-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

However, core inflation, which strips out volatile food and energy prices, continued to slow, according to data from the Bureau of Labor Statistics released Wednesday. On a month-to-month basis, prices rose 0.6% in August, compared with a 0.2% gain in July. Monthly core inflation rose by 0.3% in August, picking up significantly for the first time since February. The CPI’s gasoline index jumped 10.6% in August from the prior month, up sharply from the 0.2% gain in July. Gasoline prices are highly visible indicators of inflation, so more pain at the pump could also weigh on US consumers’ moods.

Persons: Sarah House Organizations: DC CNN, Bureau of Labor Statistics, Federal, AAA, CNN Locations: Washington, OPEC, Libya, Wells

☆ Rising Gas Prices Provide Fodder for Republican Criticism of Biden
▼ + stars: | 2023-09-13 | by ( Jim Tankersley | More About Jim Tankersley | ) www.nytimes.com time to read: +1 min

The big headache of President Biden’s Summer of 2022 — high gasoline prices — may once again bedevil him this week. Gas prices jumped by about 25 cents a gallon nationally from mid-July to mid-August, topping out around $3.87 per gallon before receding slightly into September. The national average price of gas was $3.85 per gallon on Wednesday, according to AAA. It will almost certainly provoke criticism from Republicans who hammered Mr. Biden over high gas prices throughout last summer. Prices fell steadily last summer, a development that Mr. Biden celebrated.

Persons: Biden’s, Biden Organizations: AAA, nation’s Strategic Petroleum Reserve Locations: Ukraine

☆ CEOs are having their worst year in decades
▼ + stars: | 2023-09-13 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Oil prices hit 10-month highGlobal oil prices climbed above $92 a barrel on Tuesday for the first time in nearly 10 months, reports my colleague Matt Egan. Takeaways from Apple’s iPhone 15 eventTuesday was a big day for Apple as the tech titan unveiled its iPhone 15 lineup along with other major updates during its September keynote event. Among the highlights: The iPhone 15 Pro and iPhone 15 Pro Max now feature a titanium casing, allowing the design to be slimmer and thinner than before. The iPhone 15 comes in 5 colors (white, black, pink, green and yellow) and in two sizes: A 6.1-inch screen for the iPhone 15 and 6.7 inches for iPhone 15 Pro. The iPhone 15 will start at $799, and iPhone 15 Pro will start at $999.

Persons: New York CNN — It’s, ”, Bernard Looney, Looney, Stewart Glendinning, Timothy Baxter, Baxter’s, Baxter, Macy’s, Rosalind Brewer, Neil Saunders, hasn’t, Matt Egan, Brent, Matt Smith, “, Clare Duffy, Samantha Murphy Kelly, Max Organizations: CNN Business, Bell, New York CNN, Ferguson Partners, BP, Express, Tyson Foods, Walgreens Boots Alliance, Walgreens, “, Americas, AAA, Apple Locations: New York, —, Libya, “ Libya, Kpler, Russia, Saudi Arabia

☆ Apple unveils iPhone 15 Pro with titanium case, holds line on prices
▼ + stars: | 2023-09-12 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

IPHONE 15 LAUNCHBoth the Pro and other iPhone 15 models will have a brighter display and a 48-megapixel camera as well as 100% recycled cobalt in their batteries. [1/6]New iPhone 15 and iPhone 15 Plus are displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Apple said that USB-C charging cables are coming to both its iPhone 15 and the charging case of its AirPods Pro devices. She said the shift "brought some differentiation to the iPhone Pro, because there's faster throughput for data transfer. The iPhone 15 costs $799, the iPhone 15 Plus starts at $899 and the Pro series starts at $999.

Persons: Apple, Jeff Williams, Loren Elliott, Carolina Milanesi, Milanesi, Greg Joswiak, Bob O'Donnell, Pro Max, Lisa Jackson, Stephen Nellis, Aditya Soni, Pushkala, Raechel, Yuvraj Malik, Peter Henderson, Lisa Shumaker Organizations: Apple, Huawei Technologies, Huawei, Securities Times, REUTERS, American Automobile Association, AAA, Creative, TECHnalysis Research, Pro, Counterpoint Research, Thomson Locations: CUPERTINO , California, Cupertino , California, China, U.S, United States, Bengaluru

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