The group of finance ministers from Spain, Germany, Italy, Portugal and Austria have joined forces to ask the European Union to introduce a windfall tax on energy firms. Their main worry is that the recent surge in oil and gas prices—linked to conflicts in Iran—could push inflation higher and hurt o
This week’s crypto scene is driven by fresh inflation data that could reshape U. S. rate expectations and ripple through digital assets like bitcoin, which currently trades around $69k. Key U. S. releases—core PCE for February on Thursday and CPI for March on Friday—will test whether the Federal Res
Five European finance chiefs have fired off a letter demanding EU-wide curbs on energy profits. The move comes as Middle East tensions make oil tankers rare, pushing petrol and heating bills higher. Spain’s economy minister joined colleagues from Germany, Italy, Portugal and Austria to argue that wh
Washington’s gas price is high. AAA says the average was $5. 30 last week, far above the national mean of $3. 98. The state’s tax is 55. 4 cents per gallon, the third highest in the U. S. , plus a federal tax of 18. 4 cents. A yearly 2 % bump on July 1 is built in to help counter inflation. Washingt
The war in the Middle East has pushed oil and gas prices up, yet Federal Reserve watchers say the real impact on everyday prices will take time. New York Fed chief John Williams told Fox Business that the economy might feel the squeeze in months or even a year, not right away. That delay matters bec
The U. S. has a history of underestimating military expenses, and this pattern repeats in the current Middle East conflict. In 2002, officials predicted a $50 billion price tag for Iraq—yet the war cost taxpayers over $3 trillion. Now, a new campaign is launched with the same low estimate, raising d
The U. S. Treasury market is feeling the pressure of a new war in Iran, with investors showing less enthusiasm for short‑term notes. Recent auctions for 2‑, 5‑ and 7‑year bonds drew weak bids, pushing yields above expectations. This shift is a sharp change from the record demand seen last month for
The French government is not ready to lower fuel taxes or give big subsidies after the price spike caused by the Iran war. Finance Minister Roland Lescure told lawmakers that cutting taxes would not help the shortage of energy supplies and could make inflation worse. Opposition parties want lo
The UK government plans to give money help for households that are paying more for power because of the war in the Middle East. Finance Minister Rachel Reeves said this will not ruin the country’s plans to fix its money problems. She reminded lawmakers that past actions caused trouble. The
The British Prime Minister has called an urgent meeting to discuss how the war in Iran could hurt the UK’s economy. The gathering will include the finance minister and the governor of the Bank of England, with additional ministers on energy and foreign affairs also present. Investors expect another
